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

Andy

sorry to question you

But Tiof is outside the Ching field boundry so SEY would only benefit from the Premier deal. Am i wrong on that? If so I will be happy to be lambasted. Tevet /Lamb and possible Banda would boost SEY`s reserves.

Regards

Dr Square,

I think you are probably right, from their last staement below;
-------------


PSC A and B have delivered a high exploration drilling success ratio with four significant discoveries from 8 wells - Chinguetti (2001), Banda (2002), Tiof (2003) and Teve't (2004). First oil from the Chinguetti discovery is anticipated in March 2006.Evaluation of both the Tiof and Tevet oil discoveries is underway. The Teve't oil and gas discovery lies 10km east of the Chinguetti development, within tie-back distance. The Tiof oil and gas discovery lies 50km to the north of Chinguetti.

In addition to oil developments, gas discoveries (Banda) are being evaluated for potential European and North American markets.

Sterling's interests include a sliding scale royalty based on oil price coupled with specific cash bonuses for each commercial discovery in PSC A & B; and an economic interest derived from our financing of the governments 12% interest in the Chinguetti Field.

The Royalty and Discovery Bonuses
Royalty payment is linked to oil price, for every barrel produced net to a working interest of 3% in Area A, and 6% in Area B, subject to the Government's back-in rights. Also cash bonuses of $1mm for a greater than 50mmboe discovery in Area A and $2mm in Area B are payable to Sterling.

The Royalty payment per barrel escalates with oil price and inflation. For an average price of $50 in 2006, the royalty will be $5.87 per barrel.

If SEY made a bid for EEL there would be a counter bid by the likes of Chevron etc:

so are you going to buy EEL on Monday? ...... I shan't as got myself burnt last time I though they were cheap

cynic,

me neither, as the "news" (rumour) is already out, the price may gap up at open, and then you're playing into the MM's hands if you chase the price.

If the rumour is unfounded, it will be down again at double quick speed, and of course if it rises too much, any interest SEY may have could be extinguished as the deal becomes more expenive and loses it's premium to SEY.

News we may of missed.

Cameroon developments

Regards

Dr Square,

Are you a regular reader of the Tehran Times by any chance?

Interesting article though, and thanks for drawing our attention to it, it's high time this particular border dispute is resolved.

Andy

Not that often cancelled my subscription a few months ago. find it a dry read.

Just hope that the dispute is resolved and may put some momentum behind the Ntem dispute. As they seem all to be intermingled in some ways.

Regards

Dr Square,

I agree.

I see we have regained most of Friday's late fall, not sure we'll find out why it fell so dramatically at the close.

All that huff and puff over the weekend with lots of frantic posting from me and others mulling over the possibility of an SEY takeover of EEL - then quick as a flash on Monday morning, nothing happens. Oh well, it was fun while it lasted.

EEL is up nearly 10%, surely something's up for a possible SEY bid?

Yes - things have started to move with EEL.

so they have, but is that informed knowledge attracting interest or just the rumour ..... qui sait?

R88AVE,

well the MM's will have marked i up as they were ware of the rumour I guess.

That brings in the punters, and away you go.

And it promptly falls back again once the buying dries up! Says it all really.

Ha,Ha someone must have read my note and thought buy, buy, buy!!!

Pondy,

Exactly!

SEY market cap now under 300 million!

Max Petroleum, on the otherhand is still around 350 million!

We have production and profits, MAX has some seismic and some spots to drill, I know where I'd rather have my money!

Me too!

In the Bank.

LOL

All imo etc.

SWW,

LOL!