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

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.

So they are prop.

Niot too keen on jumping in at nearly double what it was 3 weeks ago, so I will just keep a healthy interest for now.

Thanks Andy, if I find anything of valkue I will post it here and there.

SWW - goodbye and good luck. See you around on other boards, no doubt. I am sure that we'll even see you back here before too long.

I suppose the price is 72p rather than 27!
I should check my eyes!

ahoj,

Not sure what you're trying to day there, and i'm not sure the price will ever reach 72p, but it would be nice if it did!

! have promised myself a TVR if it ever reaches 100p!

But i'm not holding my breath!

RNS!

Amevscap have been buying again!




Amvescap PLC


FORM SAR 3
DISCLOSURE OF ACQUISITIONS
(Rule 3 of The Rules Governing Substantial Acquisitions of Shares)

Name of acquirer AMVESCAP PLC
--------------------------------------------------------------------------------------------------------
Beneficial owner, if different from above DISCRETIONARY MANAGED CLIENTS OF AMVESCAP

--------------------------------------------------------------------------------------------------------
Names of any other persons acting by
agreement or understanding (see SAR 5)
--------------------------------------------------------------------------------------------------------
Company dealt in STERLING ENERGY PLC
--------------------------------------------------------------------------------------------------------
Class of voting shares (eg ordinary shares) ORDINARY 1P
--------------------------------------------------------------------------------------------------------
Date of acquisition 24 APRIL 2006
--------------------------------------------------------------------------------------------------------

Number of shares acquired 2,175,000
--------------------------------------------------------------------------------------------------------
Number of rights over shares acquired #
--------------------------------------------------------------------------------------------------------
Nature of rights over shares
--------------------------------------------------------------------------------------------------------

Total holding of voting shares (and
percentage of total voting shares in issue)352,072,048 ( 25.11% )
--------------------------------------------------------------------------------------------------------
Total holding of rights over shares (and
percentage of total voting shares in issue)
--------------------------------------------------------------------------------------------------------
Combined total holding (and percentage) of
voting shares and rights over shares 352,072,048 ( 25.11% )
--------------------------------------------------------------------------------------------------------

Date of disclosure 25 APRIL 2006
--------------------------------------------------------------------------------------------------------
Contact name ON BEHALF OF AMVESCAP PLC
--------------------------------------------------------------------------------------------------------
Telephone number 020 7065 4000
--------------------------------------------------------------------------------------------------------

# See the definition of 'rights over shares' in the Definitions Section of the
SARs.

For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at

www.thetakeoverpanel.org.uk
.

from Today's FT.
-----------------



Sterling to begin Kurdish project : By Rebecca Bream


Sterling Energy, the Aimlisted oil and gas group, has become the first UK company to sign an exploration agreement with the government of Kurdistan in northern Iraq.

The group has signed a memorandum of understanding with the authorities in Kurdish-controlled northern Iraq and can now start field work in the oil-rich but under-explored region. But Graeme Thomson, finance director, said work was at a very early stage. Many oil companies are holding back from doing deals with the Kurdish government in Iraq because it is not yet internationally recognised.

Sterlings main operations are in the Gulf of Mexico and Mauritania, west Africa. The group increased its gas production in the US by 4 per cent in 2005 despite serious disruption from hurricanes and, combined with higher gas prices, this pushed revenues up from 11.5m to 13.6m in 2005. Pretax profits rose to 5m (4.2m).

Mr Thomson said Sterlings profits should jump substantially in 2006, following the beginning of oil production at a Chinguetti oil field in Mauritania in February. Evolution, the broker, yesterday forecast that the groups pre-tax profits would reach 24m this year, mainly because of earnings from Chinguetti, but also because of new wells coming on stream in the US. Our cashflow will increase very materially this year, said Mr Thomson.

Sterling has exploration projects in the US, Gabon, Guinea-Bissau and Madagascar. Mr Thomson said the group would drill three to five wells in Mauritania this year and four to six wells in the US.

He added that acquisitions were less likely this year because of high valuations in the oil and gas market. It is very easy to buy things, but getting them at the right price is tough, he said.

The shares were unchanged at 27p, giving the group a market value of some 350m. The stock has risen 54 per cent since the start of the year.