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

PS. Andy - in answer to your post which intercepted mine - the share of cost oil will continue until recoupment (as defined?) and of profit oil in perpetuity. What we won't ever know are the exact terms of "repayment" so we know how much of the 97m still on SEY's BS is unencumbered.

sd

stockdog,

I agree with you, it is time for SEY to become more transparent. to allow shareholders a chance to assess the value of our investment, and the long term income prospects.

Hopefully, the finals may reveal more.

stockie and Andy - I can't beieve I said that!

I knew that it was a letter of credit, but for some reason my brain has not registered that when writing.

Thanks for reminding me.

SWW - No blame attaches - SEY refers to "repayment" itself in their circular I notice. Not having a go, just an excuse to air my thoughts.

SEY get their money back and the ongoing interest in 8% of field production. That's why it's such a good deal for them. They will get the loan repaid out of the production revenue, so they won't be waiting for a cheque from the Mauritanian Government. That's also why the possible deal to buy BLVN would make such good sense - they would be able to do it quickly out of cashflow and not have to issue any more diluting paper. Remember also, the new board member recently announced, has been signed up to help SEY grow. Corporate action is on the cards - and very soon by the looks of things. Exciting times. I was thinking of top slicing my SEY shares, but I've decided to stay put to see how things pan out.

Remember this?

Board Appointment

Sterling Energy plc, the AIM listed energy company with activities in the Gulf
of Mexico and Africa, today announces the appointment of Mr. Christopher
Callaway as a non-executive director of the Company with immediate effect.
Mr. Callaway joined the 'City' in 1973, initially with the London Stock Exchange
and in 1983, he moved to Capel Cure Myers (subsequently ANZ Merchant Bank) in
the role of corporate finance adviser, specialising in small and medium sized
growth companies. He became a partner at Coopers & Lybrand in 1990 before
joining Beeson Gregory in 1995. Beeson Gregory was subsequently taken over by
the Evolution Group in 2002 and on the merger Mr. Callaway became Joint Head of
Corporate Finance, retiring in December 2004. Since then, Mr. Callaway has been
involved in the flotation of a number of companies of which he is both an
investor and a director.
Mr. Callaway will join the Audit, Remuneration and Nominations committees of
Sterling.

Richard O'Toole, Chairman of Sterling Energy commented:

'I am delighted to welcome Chris Callaway to the Board of Sterling. His long
experience of the City and advising growth companies will be of great benefit to
Sterling as we seek to deploy the significant cash that will shortly begin to
flow from our investment in the Chinguetti field, offshore Mauritania.'

And the first 'deployment' is?

On the move, slowly but surely. We live in interesting times.

SWW,

Good comment re BLVN, thanks.

Soul,

Well we are now 1p down today!

Quite incredible IMO.

UBS reduces shareholding

Amvescap increases shareholding

Been a fuunny old day!

Been a rotten old day. My worst day for over 6 months! BUR, SEY and JLP all took a haircut.
UBS were very cute. The market held the price up just long enough for them to unload - and then wallop! Market manipulation anyone? Interesting that AMVESCAP have been buying in volume yet again. I would love to know what their plans are. They haven't bought all those shares without a good reason.

Pondy - JLP, SEY for that matter SCR and HNR.

All a matter of guessing when to sell and wait for lower to but back in.

Compare it to deal or no deal, and you can watch what we go through every day there.

The wise man does not punt too much, but takes what he can when he can, of course we have the luxury of guessing if in 3 years time things will be sparkling for a company or not!

They have the luxury of guessing if they really have 250K in the box.

Usually things will go well, and we can take the second option.

Sometimes we should really take whats on the table and see if we can get back in lower than we sold for.

If not, don't look back.

Great words but did I do it?

Nah..............

No deal.

SWW,

I really can't believe there haven't been any posts here for 8 days, with the share price at an all time high, and final results imminent!

Did anyone see the 250,000 trade after the bell?

BUY at 27.17!

Hi Andy

I Did :-) I also saw the UT yesterday at 27p could be a good close to the week??

Regards

...and as per usual, rather than kicking on, the sp has fallen today! When is this really going to motor??

queen1,

I'm not sure it ever will, unless of course they release some stonking results next Monday!

I'm happy with slow and steady, provided the SP continues to head north.

Andy,

Yes, also saw the late buy but cannot understand what the MMs are doing with the SP when all the time more BUYS than SELLS. Have recently nearly doubled my holding (cash from FDI) at trades a shade under 25p - looks good now. Away next week so look forward to news of excellent results and Monday's presentaion!

Hi everybody.

I have seen your posts and for once have nothing to contribute.

I'll look in on Friday.

Off to Paris for lunch tomorrow, (I wish the missus could cook!)

Anyone want some duty frees?

Best Y'all.

SWW

do i have to say more

LONDON (AFX) - World oil prices reached new historic peaks on Thursday,
above 74.0 usd in London and 72.0 usd in New York, owing to mounting tensions
over Iran's nuclear programme and fears of gasoline shortages in the United
States.
In London, the price of Brent North Sea crude for June delivery struck a
record high of 74.22 usd per barrel.
New York's benchmark contract for light sweet crude for May delivery hit an
all-time peak of 72.49 usd.
At about 0810 GMT, Brent stood at 74.06 usd, up 33 cents on Wednesday's
close, while New York crude was at 72.41, up 24 cents.
Dealers said a fall in US gasoline stocks have exacerbated tension in an
energy market already spooked by the prospect of a conflict in Iran, the world's
fourth biggest crude producer, over its alleged programme to develop nuclear
weapons.
The US Department of Energy had said Wednesday that US gasoline (petrol)
stockpiles fell 5.4 mln barrels last week, twice as much as analysts had
expected, ahead of the summer driving season.
US crude oil reserves fell 800,000 barrels in the week to April 14 to 345.2
mln barrels, surprising analysts who had been expecting a rise of 2.3 mln
barrels.
The fall in gasoline stocks comes ahead of the peak driving season in the
US, which sees American drivers take to the roads on vacation beginning in May

imho no brainer

72?