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

If youve had a good day please consider giving a donation to the lads dressed as Elvis racing 350 miles to the North Pole on behalf of Great Ormond Street Hospital It makes the London Marathon seem like a stroll in the park!
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thanks for your time

Thought I would bring this to the top in anticpation of some posts here tomorrow maybe?

SWW,

I have a feeling there may be a few!

'Ope so Andy, yes I do.................

2005 HIGHLIGHTS

Financial


Turnover increased by 19% to 13.6 million (2004: 11.5 million)

Pre-tax profit up 47% to a record 6.1 million (2004: 4.2 million)
before one-off Perth office closure cost of 1.2 million

Cash inflow from operations, before the one-off closure cost and
working capital movements, increased by 13% to 8.8 million (2004: 7.8
million),


Production and reserves


Average attributable production increased 4% to 9.7 mmcfged
(2004: 9.3 mmcfged) despite the impact of several highly destructive
hurricanes in the Gulf of Mexico

Realised prices up 12% at $6.37/mcfge (2004: $5.68/mcfge)

Net year-end proven & probable reserves over 21 million boe, of
which 65% are in the proven category


Operational


Major investment in the offshore Mauritania Chinguetti field
development continued with a further $65 million of cash invested by
Sterling in the year and a further investment of $50 million projected
in 2006. Local office opened

Three drilling successes offshore Mauritania with a 6th appraisal well
on the 300+ million bbl Tiof (Oualata) field, an appraisal well
on the 50 million bbl gross Tevet discovery and a new 30 million bbl
gross discovery, Labeidna. All wells were drilled at no cost to Sterling

Key farmout to Exxon-Mobil on Madagascar acreage with Sterling
remaining as operator: carried 30% interest through seismic and up to
four well drilling programme

New interest offshore Gabon adjacent to existing licences

Extreme weather conditions offshore USA curtailed work programme

Farmout of heavy oil discoveries in AGC

2005 Preliminary Results

All good stuff, but I can't find anything new to set the pulse racing. I am somewhat surprised to see the shares trading so strongly, having been as high as 29p. Someone must be soaking up all the sells.

Interesting practice! Share price should move inline with oil price 75 IMO

Now trading well down on the day. Not really that surprised. Good trading opportunity for those that were savvy enough to sell out at around 28p. Ho humm.... they will look cheap in 6 months time.

i sold today see if can get back at 24.5,thought we would haVe more wow to result.

I have dropped the ball today too.

I always said I would give it till these results so now is the time.

I will now wait for the first cheque to be paid to Sterling by the Mauritanian Governemnt, and then I may consider buying again.

guys...i ducked out of 3/4 of my holding...into PANR. Managed to get a decent whack at the allocation at 100p. This stock had LEGS and is a little more interesting that SEY right now!

PANR...check it out!

rgds
PT

Ramper.........

lol

so sue me!

Good old SEY - what a day! Price remains unchanged on >20m trades of which the largest (>10k) were 75% buys. What more can a chap do to make this shift northwards?

Don't blame SWW and PT for quitting out of sheer frustration, not to mention boredom.

sd

The posts on this site can be excellent.

I agree with seawallwalker, RE: lol

Is there not a PANR thread ? The reasons for having a look are a bit vague.

I hold SEY
Reasons: An exploration and producing company, announcing increases in profits - lots of potential for even more growth. Tipped recently by Jim Slater. This is one of the oil companies which I hold and do not feel nervous about.

Besides buy on rumour, sell on news theory, I do not think today was the right time for me to sell.

Good luck to all SEY holders long term - I am in for the long haul.

Johne1 we have been there and done that................... it seems a lifetime ago.

Not saying it's not gone up in the meantime, but it cetrtainly has not kept up with it's peers.

I have pulled out to have a think, and check that I am not really in lve with this stock.

Checking how many times I have bought, topped up and sold outside the core, I begin to think so.

I'm looking around thats all.

Meantime, I am waiting to see that all is as it seems before I fall back in love, provided the Missus(Sterling), will have me back of course.

prop start a thread and I may buy one share just to say I have one!

i have started a thread under PANR

barely anyone joined in so i have contributed on advfn for the first time...sorry guys but they are ALL OVER PANR over there...

rgds
PT

SWW,

Well done, a profit is only a profit etc etc.

I hope we will see you back soon, always enjoyed reading your posts.

Andy.

From oilbarrel today: very positive but I don't think anything new?

25.04.2006
Sterling Energy Full Of Optimism For The Year Ahead With Production Back On Track In The US And Chinguetti Onstream Offshore Mauritania
2005 was a bumper year for Sterling Energy, which saw turnover climb by 19 per cent to 13.6 million. Post-tax profits came in at 3 million. The AIM-quoted company saw production climb 4 per cent to 9.7 million cubic feet of gas per day, a number which would have been higher if not for the impact of the Gulf of Mexico hurricanes on its production base there.

The company believes this year is shaping up to be even better. The Chinguetti oilfield offshore Mauritania, in which Sterling has the equivalent of an 8 per cent economic interest plus a 5.28 per cent production-based royalty, is now in production and should be pumping 75,000 barrels of oil per day gross later this year. Taken together, these interests will yield substantial cash flow and mark a step-change in Sterling's development.

Added to this, its producing assets in the US are now back online after the hurricane disruption of last year. Over the early months of 2006, production has dipped again because of natural declines, equipment shortages and some post-hurricane restoration work but the newly hooked-up Galveston Bay 251-5 and Gryphon C-3 wells will contribute an additional 2.2 million cf/d to the books this year. Sterling operates 8 fields, 21 offshore structures, over 68 miles of pipelines, five compressor stations and two onshore storage facilities in the US. Rising costs in the Gulf, including higher insurance premiums in the wake of last years devastating hurricanes (up by 250 per cent for Sterling), has prompted the company to look inland for new investment opportunities in the region.

Looking further ahead the production profile will get a boost should the Tevet, Labeidna and Tiof (Oualata) discoveries offshore Mauritania get the development greenlight, which could unlock a further 400 million barrels gross. Sterling would benefit from these developments via its production royalty agreement, which gives the company a slug of the production with no cost to the company. This royalty agreements gives Sterling receives a cash bonus of US$1-2 million for each development approved over 50 million barrels plus a sliding scale royalty that depends on the oil price and whether the state oil firm, Societe Mauritanienne Des Hydrocarbures, backs in for its 12 per cent of the project. In this case of Chinguetti, this royalty calculation worked out at 5.28 per cent.

However, Sterling is likely to seek greater exposure to future Mauritania developments by repeating the funding deal it struck with SMH for Chinguetti. The company raised cash on the UK equity market in order to provide the Mauritanian government with the cash it needs to fund its share of the Chinguetti field development costs and in return was awarded what amounts to an 8 per cent economic interest in the field. This was quite a coup for the AIM firm but this time round Sterling is likely to face more competition as other firms will be keen to shake hands with the oil authorities in this newest producing nation.

Sterling hopes to be well placed in this competition, however, because of its close relationship with SMH. Sterling has opened an office in the Mauritanian capital, Nouakchott, and has been providing the state firm with technical, commercial and financial support. Several SMH personnel have been seconded to the Sterling offices in the UK.

The company has an active exploration programme lined up for the year ahead to find the next Chinguettis, with at least five wells due in Africa, seismic work offshore Madagascar and field studies underway for an exploration block in the Kurdish region of Iraq, described by chief executive Harry Wilson as vastly under-explored region with huge potential.

First however the company needs to turn its MoU into a PSC and investors will rightly view any work in that country as high risk in the current security and political environment. For now, investors will be keen to increased output from its bread and butter business in the US while the groundwork for the next step change in Sterlings production and cash flows is laid in Mauritania and, further down the road, elsewhere in Africa.