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

I've only heard positives on this one. On the up and heading over 20p soon. What is this going south ????

no idea, hence the post today. i have only heard positive newsflow as well. would welcome any other comments

proptrade,

In the absense of any reasoned agrument, I aways ignore these "heading south soon" type of one liner posts. They are designed, mostly, to spread doubt and fear.


Deadfred,

If you have any reasoning behind your post, why not post it?

At least that way we can judge and discuss.

I doubt there is a reasoned arguement!

Sterling have money in the bank, have a revenue of M per month just from the Gulf.

Have part ownwership in the Mauritiainia Packages that are sought after by the Larger Companies, have interests with no risk in many new projects over Africa.

Come on deadfred, don't be dead-beat, say, with evidence what is on your mind.

seawallwalker,

I agree, I see SEY as stable and a growing company.

frustrating they seem stuck in this trading range, particularly after the seemingly good deal they achieved taking over FOG, maybe an overhang from that deal is holding back the price?

possibly, but i think the immediate lack of news post t/o may be taking the shine off the name.

i am going to sit tight and wait for the next bit of news, and from tghe sound of it i am optimistic of an earnings surprise.

prpoptrade,

agreed, the delay in meaningful news has perhaps taken SEY off the radar screens.

Can you elaborate on what you have heard?

news was that the chief exec (or whoevers in charge) was doing the rounds in City. Following this there was due to be increased news flow. I'll have a look and see what I can ustle up - should be some info from Red Hot Penny Shares as they have been giving this a BUY. They increased Limit to Buy from 14 to 16p about a month ago.

hey slow down lads i was in this company for 100,000 shares i sold them a few weeks ago because of the lack of news and other gut feelings

this is why i feel its going south not much but a little as the price indicates today

yes a good share but the mm realy do there work on this share had the shares for a wee while watched them going up and down like a whores undergarments

the effect of the shorters and the work of the mm make this share cycle imho

so yes slag me off but i do think the price feel today or was i wrong


send appologies to the following address

http\:mrwhogivesone/notme.com

yours dead

ok, now that is at least a full explanation of your view and it is appreciated.

the thing i don't disagree with the share drift on the lack of info, but i am more interested in the block trades a few days ago.

i really do think this name is worth keeping an eye on for the next few weeks and if the news is positive then i can see this finally busting through 15p

rgds
proptrade

Agreed deadfred & proptrade.

The price is following a similar trend to that just after the takeover of Fusion Oil.

Live in hope least we die in despair!

It must go up beyond the 15 p mark in my opinion.

In my book a definite hold and wait.

Glad I got in at the low yesterday, it seems to be recovering in line with other shares.

same here, i am quietly confident about this one...

Large volumes here suddenly.

there is something going on here...i am definately holding...

Up we go................

waiting for the breakout...

Up another .5p, someone will realise eventually this is underpriced. Till that time...................................................

See why now, not much activity today!

Mind you it looks like it may go up another .25p before the end of the session.

always helps when there is positive news about! i think 15p may now be conservative considering the announcement....

Sterling Energy PLC
22 June 2004





Early African drilling start heralds 'exciting period' for company



Oil exploration and production group Sterling Energy is entering an exciting new
phase with the start this summer of an exploration and appraisal drilling
programme offshore West Africa, Chairman Richard O'Toole said today.



'It promises to be an exciting period for us all', Mr O'Toole told shareholders
at the company's Annual General Meeting in London, at which all the resolutions
were duly passed.



Sterling will participate in up to 20 wells offshore West Africa, at virtually
no expense to the company thanks to 'carried interest' arrangements which leave
other partners to pay most of the cost.



The company acquired the West African acreage as a result of its successful 40
million takeover of Fusion Oil & Gas late last year. Since then, offshore
Mauritania, the Chinguetti discovery has been confirmed as commercial and the
potentially larger Tiof field has been discovered.



Mr O'Toole added: 'The early successes offshore Mauritania provide clear
examples of the potential that may exist elsewhere within our West African
portfolio, and we are looking forward to the drilling programme.'



Drilling on the first new Mauritania well is expected to begin in August.



The company is also planning an extensive Gulf of Mexico development drilling
programme of at least six wells, which aims to more than double production over
the next year. The first of these wells, on High Island A68, is due to spud next
week.

At last, some news.

You are on the ball proprtrade.

Looks like I would be a fool to sell too early on these.

The upside potential has always been good, and this statement alone goes to show exactly that.

I do hope they manage to find a nice field half the size of Cairn Energies more recent discoveries.

If they do I can retire!

Meantime I will wait for the developements.

I also have inteterests in JKX and HNR. Both long.