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

The present problems of shorting the oil companies is short term and will dissapear as quickly as it occured. The real problems are in keeping up with the worlds hunger for oil. That I believe is not going to go away for decades until a new source of energy is found. That is going to keep the price of oil and gas high in the long term. For those seeking to exite the sector maybe they can tell me where else is there where high profits are going to be the norm for decades to come.
Have a read of the following article.

Totals exploration chief believes world cannot meet oil demand
by Carl Mortished

29-04-06 The world lacks the means to produce enough oil to meet rising projections of demand for fuel over the next decade, according to Christophe de Margerie, head of exploration for Total and heir presumptive to the leadership of the French energy multinational.
The world is mistakenly focusing on oil reserves when the problem is capacity to produce oil, de Margerie said. Forecasters, such as the International Energy Agency (IEA), have failed to consider the speed at which new resources can be brought into production, he believes.
Numbers like 120 mm bpd will never be reached, never, he said.

The IEA predicted in its World Energy Outlook that global demand for crude oil would reach 121 mm bpd by 2030, of which more than half would be supplied by OPEC. The agency predicted that more than $ 3 tn ( 1.72 tn) of investment in wells, pipelines and refineries would be needed to raise output to such levels.
However, Totals exploration chief reckons the output rise is impossible, given available resources and geopolitical constraints on gaining access to reserves in OPEC countries.

De Margerie argued that the resources were simply not available. He said: Take Qatar. How many projects can you have at the same time? You have more than 100,000 people working on sites. Its a big city of contractors. Now they have the problem of having to build a new power plant to supply a city of contractors.
The IEA was mistaken in using recovery factors that failed to consider the timing of new resources coming on stream, de Margerie said. The world was confusing the issue of reserves with the scale of the problem in producing those reserves.

He said: The oil reserves are there, that is the good news, but what we can bring on today to meet demand is limited by factors other than what scientists see in a lab or think-tanks.

Fido - who are you working for?

fido gone very quiet.

good dog

Just looked at the price this evening, I cant believe it dropped so much today, I find it absolutely shocking....There is no justification what so ever.... Just how low can it go? I am sure every investors are saying the same..... Personally I think the principles of shares holding is out of the window....

I feel it is way over the top and it is a load of b*llocks all this talk of the economy slowing down blah, blah, blah.....It appears to have worked in what the bank in the USA and Uk have been saying, causing the price of the metal and energy to drop like lead, so they dont have rise the interest to control the inflation due to rising price of the energy commodities? Crafty sods!

Where is the proof of economy slowing down, only if the US raises their interest, which I beleive is a big big gamble. I dont think they ever will.

Surely the demand for oil is still high, we depend on it more than metal. You cant use metal to run cars! So why should oil be badly affected like metal??

Sorry, but I just had have a moan!!!!!

R88AVE - I am afarid markets are not entirely logical, though they do have a nasty habit of guessing med/long term trends quite accurately .... At the moment, babies and bathwater are being thrown to the dogs (had to mix the metaphors; sorry!) without any forethought other than survival

cynic, whats plan then. is it adviseable to hold if you're making losses!

The daft thing about it all this, nothing changed, it is still producing oil, raking in money, even when shares 33p, investors were still piling in then!, So now it must massively cheap, like everything else, but when will investors have the balls to go back in again...thats a big when??? I wonder

I'm gonna take a gamble and say it could fall to 23 then 21 then 18-19m then 15-16. I've not looked at a chart but I remember these levels on the way up. I don't hold it but I've lost on other oil charts. Then again it might be good. dunno

Markets are an educated gamble.

My gamble is that if this hits 20p again, I will start buying and anywhere down from there.


Dont think it will though most likely stay above that.

Saintserf -
So we should use your advice and probably act opposit!

This is more like, come on get back to 33p and start again eh!

Two lots of 215000 shares at 26.5p just gone through to buy, is it a hint that directors have bought some do you think?

Yep you probably should. but i'm still not convinced this is the start of the uptrend again.

If it passes 33p we can beleive it's the start of the uptrend againa. We should wait

Found this being tipped.

http://www.fool.co.uk/news/comment/2006/c060525b.htm?ref=foolwatch

r88ave,

many thanks for that.

Nice rise today, but on low volume.

Andy,

Staying aboard ship for the voyage! Guess you will be at AGM 15th June if you can. Unfortunately only back from hols on 16th so would very much appreciate posting on this thread on highlights. Incidentally, picked up a few more FDI in hopes for Groen results!

what ship are you on Ray ???

mengelbretson,

I'm on the "good ship SEY" with a full cargo bound for Madagascar, Kurdistan and beyond - are you on the cruise?