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

One thing that I said before that know one has picked up on is the fact that becoming established in Kirdistan is very much considered by international investors as being a precuser to getting into the rest of Iraq when the time is right. That means that in the time they are doing their feild studies and negotiating a PSA for Kirdistan they will almost certainly be keeping an eye on Iraq as a whole and will be in a good position to make a move on some of the massive feilds in the south when the time is right.
To put it into perpective, Iraq holds the 4th largest reserves of oil in the world and the area where Sterling are doing their feild studies is virtually unexplored. That means that they should be able to negotiate a good PSA deal in Kirdistan and still be able to be in a good position to take advantage of any opportunities with the proven massive fields of the south. This will be made all the more easier by their director links with Petrel Resources in the south. Either way, whether its Kirdistan, Mauritania, Africa or where ever, you can understand why the chairman said in the last results that in all his decades in the industry he has never been so optimistic about the future.

"The chairman said in the last results that in all his decades in the industry he has never been so optimistic about the future."

That said Fido, 40p is but a small stepping stone.

All buys from 14.37, should be about due another uptick.

opto me old mucker 40p is a mear skip and jump away as imho i think sey will start moving in twos or threes soon

SEY moving in twos and threes? I can but dream.

If you don't have a dream then how..........

As a Dragon Oil veteren I can remember when its SP was 10p and people debated every quarter pence rise or fall. Now a move of ten pence or so doesn`t even raise an eyebrow.

Congrats to the people on this board for being in sey. It's probably been reported on already that it was a "play of the week" in shares this week. Sometimes it's good and sometimes it's bad when shares does this. It means people are just picking up on a company's potential or it means it's a bit late and it's only being featured because it's gone up so much and entered the spotlight. For example, Wolfson was a play of the week in November at 260, so that's done well but I remember Tadpole being a play of the week over 2 years ago at 21p and now it's 2.1p so basically it seems pretty irrelevant what shares thinks as it depends on the quality of the company. A tip from the IC seems to have more effect on a sp er. Tullow was one of their plays over a month ago and has since risen meteorically.

I have to congratulate the last poster on his comment about dragon at 10p. From the little I understand about shares the ability of successful stock picking is being able to envisage something in the future that others can't imagine at the present time. This is how you get the ten baggers etc. So when I bought Victoria oil at 55p and sold it again at 50 it was a ten percent drop but now at 2.50 each 5p movement only equals 2% as opposed to 10%.

So now according to Fido's post every time dragon moves up 10 p it's equivalent to 5% but if you bought at 10p it's another "bagger" or 100%. This would have been quite difficult to imagine when dragon was at 10p I guess. I think this is what Peter Lynch and Warren Buffet are alluding to when they talk about themselves as being "long term greedy". They're not looking to move in and out because the real winners come from long, long term holds of years when the old price seemed unbelievable. Nothing but a distant memory. And in Peter Lynch's case it's then the case to start looking for more companies which could have an "unenvisageable" rise. But I think it's a difficult skill trying to imagine or visualise something in the future that seems ridiculous and far-fetched at the time.

Saintserf,
Sterling like Dragon are a long term hold. I can remember when Dragon moved from 20p to 40p and everyone bailed out thinking they had sold at the top. Dragon at 2.00 are now a 20 bagger and the best bit is that my own personal long term target is 12.68.
Likewise Sterling are a long term play as seen by their prospects in Kirdistan which will take a couple of years to come about, but the market always moves well before so you are looking at a lot of near term upside as well as Mauritania`s oil market quadruples within 2 years.

Not far now almost a double bagger for me,

40 opto,,make it a 1!!

OK Dave :-)

To aLL,

I was in SEY in Sep 05 and sold in Feb for personal reasons. Do you think its worth getting back in???

Saintserf, Fido, thank you for talking some of the best investment common sense I have read in a long time. Am now sitting with a smile on my face imagining the days when people won't bat an eyelid at a 2p rise on BLR - nice if it happens!!

Meaning no disrespect to other posters here, as lots of you have made some very interesting comments. Am not in SEY, by the way, but like to drop in regularly to get a feel of opinions.

hi jameel .....easy answer ... yes!

Jameel, that must have been a big Valentine's bouquet - hope she was worth it!

I am sure others are more qualified than me to comment, but going by the shape of the chart alone, I'd be very encouraged about this one. Production increases look to be good to advance the SP considerably.

PS - Cynic thinks everything sucks, so if he's tipping it, it has to be good ;o)

With regard to Kirdistan and in general Iraq, it is difficult to stress strongly enough just how important Sterlings presence in the country is. At the moment they have an MOU with the Kirdistan government and are at present conducting field studies. More importantly they have a right as part of that MOU to negotiate a PSA. This makes it probable that a PSA will be signed in the months ahead.
Although the following piece has nothing to do with Sterling, it does give an insight into how important Iraq is going to become over the next few years and for Sterling to have gained a foothold is of immense importance and is IMHO not reflected in its SP.

http://www.afterdowningstreet.org/node/9998

soul - don't be a cheeky boy or I'll come round and smack your botty!

LOL - for making me laugh, the next round's on me! :o)

so come to the London meet-up .... hope to get some sort of consensus on date and expenditure/restaurant during next week