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

IT SHOULD BE ABOUT 70K BARRELS PER DAY AND INCREASING TO 300K WITHIN NEXT 3 YEARS IF I AM CORRECT!

$52k a day.. about $1.5M a day more than expected for Sey. not bad NM

http://www.smh.com.au/news/business/chinguetti-partners-cough-up/2006/06/07/1149359817768.html

confirmation that the deal was signed yesterday.

Sorry R88, but I question the validity of your post (no reflection on you!), for there is neither an RNS, which would be manadatory, nor even any reflection in sp, which would surely be sharply upwards.

Fair point Cynic, it is somewhat strange that nothing is released from SEY?? Are they binding their time?

I do not think the authorites allow such luxury!

Why an RNS

the deal involved the Goverment not SEY. Any revenue would not be SEY`s but the Goverment in Tax????

All this means is that the terms of the loan may advance.

Just my take

regards

Surely Doc, still a very important issue and one on which the LSE would insist that the company made an announcement?

cynic

I may have this wrong but sey do not own nor operate any part of any field in Mauritania. They have two agreements one with premier and one with the GOVERMENT. Niether were effected by the recent spat this recent agreement will not effect sey either. IMHO

Premier is a price linked agreement.
Goverments is an oil share agreement.(will the GOV be charging the new tax on thier own oil? before giving it to SEY?)

Can anyone tell me how this effects sey as I do not see it???

Were it may effect sey is the goverment now has $100 million for tiof funding? or will this be swallowed up with remedial work on Ching.

regards

Is anyone planning to attend the AGM next week?

nope...come on SEY, i may have to revise my squid by xmas at this rate.

Square - you are correct in your previous post.

Mauritania: PSC A & PSC B

Location: Nouakchott Sub-basin (Northern MSGBC Basin)
Area: 15,064 km sq (PSC A - 6,969km sq / PSC B 8,095 km sq)
Sterling Equity: Royalty & Share of State Back-in on Chinguetti Field

Total estimated cost of repair and remedial work is $60million, 12% payable by the Government none by Sterling.

All very interesting.

right I'm gonna go out on a limb and say that the oil shares and it should be said the miners and many others that have risen a lot have reached the stage from where they started their last meteoric rises before the "correction". eg. sey seemed to have a little level about this before zooming up previously it had stayed at 15-19. tullow was at the 320 level before its run up to 440. rio tinto etc. This was a few months ago. So now we're at a tipping point I reckon or maybe just a point where the earliest investors decide to take profits and people start selling at losses too possibly. If this is the case share prices will reverse to previous support levels. We've had the first clean out of excess profits and followed it by a rise that's looking to my inexperienced eyes like a dead cat bounce. In many shares eg. burren tullow etc you'll have to look at 1 year graphs now as we've eroded the gains of the last 6 - 9 months now.

Interesting some shares are staying put and nothing's happening to their price much.

You could well be right Sainserf, you comments are compelling.

Or of course, as the interims arrive, they again start their drive north.

We have had $60 oil since goodness knows when, and that will be reflected in those reports.

So in truth, the sp's can go either way.

Does your comment mean you are shorting oil stocks currently, or just Sterling?

DB raise oil price for this year to $66. Oil stocks should reverse.

That's around 20% above the previous price. Oil producing companies should gain 40% by year end IMO

I think volume in the US was the highest ever last night. Am I right?

RNS! - Amevscap have been buying again!


RNS Number:3387E
Sterling Energy PLC
09 June 2006


Sterling Energy PLC (the "Company")

Holding in Company



The Company was informed on 7 June 2006 by AMVESCAP PLC ("AMVESCAP") that,
following the purchase of 523,101 ordinary shares of 1p each of the Company
("Ordinary Shares"), AMVESCAP has an interest in of 364,771,670 Ordinary Shares,
representing 25.94 per cent. of the issued share capital of the Company.


The above interest is held as follows:
Registered Name Number of
ordinary shares
held

Bank of New York (Brussels) 575,145
JP Morgan Chase 1,497,200
Chase Nominees Limited 43,703,280
Bank of New York 1,398,982
Bank of Ireland (Dublin) Nominees Limited 2,400,000
Vidacos Nominees Limited 311,922,664
Japan Trustee Services Bank 39,498
State Street Trust & Banking Co (London) 1,258,000
Trust and Custody Services JP 76,901
Northern Trust Company (London) 1,900,000

Total 364,771,670

The AMVESCAP also informed the Company that the above holding included the
holding of INVESCO Perpetual UK ICVC Series (UKICVC) ("INVVESCO") who are
interested in 198,478,823 Ordinary Shares representing 14.11 per cent of the
issued share capital of the Company.


9 June 2006


This information is provided by RNS

Gearing up for possible future bid then???

r88avre,

Amevscap are a fund manager, so not them, but their stake will be strategic in any bid!