anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

Great news. And on a day when a very large stake of over 40 million shares changed hands. Interesting times for SEY. Roll on Monday!

A milestone in SEY's development. It's been a long haul to get to here. Where do we go from here on the share price? I'm over 100% (no boast intended) but surely these have a multiple of 3-5 in the next two years? Any informed comments?

As we had a bit of a French Day earlier.........

DEMARRAGE DE LA PRODUCTION PETROLIERE DANS LE PROJET DE CHINGUETTI

La production prolie a commencdans le projet prolier de Chinguetti oppar Woodside en
Mauritanie (Afrique de lOuest).
Le raccordement, les essais et la mise en route de linstallation flottante de production, stockage et
transfert du prole, la Berge Helene (situ environ 90 km au sud-ouest de la capitale
Nouakchott), sont maintenant achev. Lors des semaines qui viennent, on sattend ce que la
production augmente ruliement. Le niveau de production maximum du projet est denviron
75 000 barils par jour.
Le projet de Chinguetti, qui est oppar Woodside Mauritania Pty. Ltd., une filiale cent pour
cent de Woodside Petroleum Ltd., est situlintieur du Pimre dExploitation de Chinguetti
dans la zone B du Contrat de Partage de Production.
Ce projet a fait intervenir des denses de capital denviron 720 millions de dollars US et
comprend six puits de production, cinq puits pour la rnjection deau et un puits pour la rnjection
de gaz.
Le champ, qui a des rerves estims environ 120 millions de barils, a douvert en 2001.
La Berge Helene est un navire de 275 000 tonnes amarrpar environ 800 mres de fond. Le
navire a une capacitde stockage de 1,6 million de barils.

SWW,

amitie,

tres bien, bon chance avec SEY!

niceonecyril,

I would hope to see some positive movement in the shareprice now, we have waited patiently for this moment.

This should remove any doubts and hopefully the market will repsond in a positive way.

SEY still have a couple of exploration projects on the go, so we may hear news at any time.

as we are having a french lesson at the mo.... whats the translation for talking 8oll0x

vous parlez bolleaux

bolleaux?

SD,

If you say so!

It's all good so far, and here is the existing thread.

I see speculation abounds regrding the two forty million share trades late Friday afternoon, both buys!

Maybe we will see an RNS on Monday?

I wonder whether Amevscap have been accumulating again?

I also wondered about the timing!

Here is what I said to peter on the other thread, just so we know where we are.

This is why we only want one thread at a time.

Come on people, get posting here.

I begin to think there are only 5 holderrs on Maneyam.

Starts - "seawallwalker - 25 Feb 2006 17:32 - 7 of 7 edit this post

Peter - I have a feeling that Amvescap sold just over 40 millionj to a buyer for the ask of just over23p, as the recording is set up to guess the prices and if they are buys and sells at the same price effectively exchanging like for like,, the sell and buy came up as buys, I know there is a slight difference in the volumes, but that seems to be my best answer, to be confirmed or not on Monday.

Who bought them?

Who knows.

If it's someone new them you could guess as well as I can.

It could also be Exxon(Sterling as operator have a 30% free carry, on what is seen very lucrative prospects in Madagascar)

Woodside, (they share Gulf assets with Sterling albeit small ones at the moment)

Most observers do not expect Sterling to remain an independant for too much longer fwiw

I have no other ideas.

In any event by Monday it will be too late to react to these buys if an RNS is issued for a major holding.

As Kivver said, there is a perfectly good and well used SEY thread with lots of info on it for futre posts, so I intend now to abadon this one.

Come and join us there. if you wish." Ends.

SWW,

In fact, 86 million shares changed hands after 15:00 yesterday, all buys!

Here's the ASX announcement form Woodside.
------------------------------------------------

SX ANNOUNCEMENT
(ASX: WPL)
FRIDAY , 24 FEBRUARY 2006
6:30 PM (GMT)

CHINGUETTI PROJECT PRODUCES FIRST OIL

Production has begun from the Woodside-operated Chinguetti oil project in Mauritania, West Africa.

The hook-up, testing and commissioning of the floating production storage and offloading facility, Berge Helene about 90km south-west of the capital Nouakchott has been completed and over the coming weeks production is expected to increase steadily. The project has a maximum production rate of about 75,000 barrels per day.

Chinguetti, which is operated by Woodside Mauritania Pty. Ltd., a wholly owned subsidiary of Woodside Petroleum Ltd., is within the Chinguetti Exploitation Perimeter in Production Sharing Contract Area B.

The development involved capital expenditure of about US$720 million and comprises six production wells, five wells for water re-injection and one for gas re-injection.

The field, which has estimated reserves of about 120 million barrels, was discovered in 2001.

Berge Helene is a 275,000-tonne vessel moored in about 800 metres of water. The vessel has a storage capacity of 1.6 million barrels.

Andy - I think a transfer is more likely.

We will see.

I would offer a bottle of wine of your choice if I am wrong, but I suspect you have very good taste, and I may regret that offer, so..........

(I could be persuaded though.......... I have simpler tastes all under 10)

SWW,

Yes you may well be correct, they could easily have been transfers between two funds.

Not quite sure why the small difference in size though.

Not much of a wine buff myself, although when I do partake, it's normally Sancerre.

SWW / Andy

May I add Gents If they were both buys and soaked up by Amvescap it will be an even more interesting Monday / tuesday. 28% + possibly Invesco. All speculation at this point. Monday / Tuesday will tell.

Have to go with SWW option. IMHO

regards

Andy,
Never mind the french - this is great news and thanks again for keeping us in the big picture!

Ray A,

Pleasure, just looking forward to Monday morning.

Some people seem to think SEY will not properly appreciate in value until the results, when the true value of the deal in Mauritania will become apparent, so my expectations aren't too great tomorrow, but I do expect an increase to reflect the uncertainty that has been removed with the confirmation of first oil production.

From an Australian newspaper, where there is more excitement because both Woodside Petroleum, and Hardman, are listed there.

-------------

Chinguetti

The Woodside-operated Chinguetti oilfield is in Mauritanian waters about 90km south-west of the capital city, Nouakchott.

Oil production from the field, which has a life of about 10 years, commenced on 24 February 2006. The Chinguetti project has a daily oil production capacity of 75,000 barrels.

Oil is produced through wells on the seabed connected
by flowlines to a floating production, storage and offtake vessel, Berge Helene.

Berge Helene is a converted tanker which is permanently moored over the field. Oil stored in the facility will be periodically offloaded to trading tankers for transport to markets in the United States, Europe and Asia.
Location: Chinguetti Exploitation Perimeter about 90km off Mauritania, West Africa.
Water depth: ~800m
Discovered: 2001
Ownership: Participating interests in the Chinguetti field:
Joint venturers:
Equity %
Woodside group companies 47.384
Hardman Chinguetti Production Pty. Ltd. 19.008
SociMauritanienne des Hydrocarbures (formerly GPC) 12.000
Mauritanian Holdings B.V. (BG group) 10.234
Premier Oil group companies 8.123
Roc Oil Group Companies 3.250

From The Taipei times - Plaudits to car973 over the road.


The FPSO Berge Helene is seen on Friday in the port of Chinguetti before heading out to the oil field. Mauritania started pumping crude oil on Friday at its Chinguetti offshore oilfields in the Atlantic Ocean, making it Africa's newest oil producer.
PHOTO: AFP