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

Looks like I'll have the thread to myself before too long then.

sunray41,

Thanks, good luck to you too!

But 20 months?

You were only 4 months away from maximum BATR, and a significant saving in CGT!
(Depending on the size of your holding of course!)

Pond life,

No you won't, I have absolutely no intention of selling SEY, for the time being at least, (news permitting of course).

I intend to wait for Madagascar.

Personally, I think the party has only just started.

my kids love that film..

:-)

Good to buy at 28.25p IMO

Holding up well today when everything else I have is a deep shade of red. Profit takers at work - but not for SEY. A good sign in my view.

pond life,

I agree, poor day all round today, except SEY, and FUM, where rumours of a deal have been circulating for a while.

Interesting to note SEYhave brought 2 new wells online in the GOM, and no RNS!

They are providing 2mmcfged increase, so a fairly substantial increase in GOM production.

I take it that you have seen this from the Hardman RNS's today?

"Operating cash flows from Chinguetti are presently strong, notwithstanding that
production levels are currently below oil facilities capacity. As noted in the
Company's quarterly report dated 21 April 2006, production averaged 60 kbopd
(gross) for the first half of April 2006 and has averaged around 50 kbopd
(gross) for the subsequent period 16 April to 25 April 2006. The reduction is
due principally to lower deliverability from the northern wells. This will not
be compensated by over producing from the southern wells, which would likely
cause gas and water handling issues. Production is not expected to increase
significantly from this present level until well intervention and / or
additional drilling takes place, which is anticipated towards the end of the
third quarter of 2006 or beginning of the fourth quarter 2006."

Not wonderful news but not the only reason for the placing.

Obviously this will signifcantly affect Sterling's royalties from the GOM and PMO.

Does not seem to have registered with the Market yet as there is still strong buying of SEY.

Probably a good time to be increasing their output of gas from the Gulf just now, kind of counter balances the oil shortfall to some degree.

There, told you I would continue to post as and where.

Thanks SWW. Appreciated by those of us still in. Yes the short term impact on revenue will be real but there doesn't seem to be any suggestion that total reserves are not still as expected, which is good news.

Andy - thanks for observation. It is not as bad as it seems as I had 8 top-ups on top of the original buy. I will be out of UK quite a bit over next 5 months and SEY was not one that I wanted to leave unattended.
However it is on the watchlist - could be a rebuy if attractive.
Good luck thanks for your informtive posts.

Sunray41,

Thanks, I agree if you are going to be away, you have to be careful.


SWW,

Thanks, not such good news there from Hardman, and now the reason for the placing becomes apparent.

Not sure that will knock too much, if anything off SEY, as there seems to be a good possibility it will be sorted within a fairly short timeframe.

the twonew wells were in the final report if i remember right as for the ching thing if its an average then they must have hit the 75k barrel and over the 50k barrel to hit it would they not have

as for sey well lets just say if you want to sell there are lots and lots wanting to buy

look at today lots of sells and not a great deal of movement

mind you watch at close as the mm drop it by .5 without even getting a red face

A couple of more decent buys can push it above 30p

deadfred,

Well for every seller there is a buyer, and in this case it's normally Amevscap!

Not worried about the temporary reduction in production as the current high price of oil will compensate to a large degree IMO.

And then we have 2 new wells in the GOM!

Today has seen a right royal battle at the 28p level. Lots of people selling and other willing to take all the stock on offer. Selling dries up below 28p and the buying dries up above 28p. I reckon we'll have another RNS from AMVESCAP very shortly.
Once the selling stops we will soon breach 30p. I've been here since October 2004, so I can wait a little longer.

Pondy,

Me too, patience has paid off on SEY.

Same here. 15/10/04 to be precise. Doubled up in Feb this year. A month late perhaps but wth, nobody's perfect.

2nd December 2002 for me. Some exciting times, mostly pretty tedious, especially the "1 by Christmas" brigade throughout 2004!

Gents

I posted the same question over the road. HNR presentation today states that Tiof will be tied back to the Berge Helene for part of the life of the field. So the tie back part of the GOM agreement will come to force? Has anyone managed to get any information on this part of the Agreement revenue etc.

Regards