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

georgetrio,

Many thanks for posting that, and annoyed I didn't buy the Sunday Express yesterday now!

12 JUly 2006

Pan-Ocean in Discussions Regarding Sale of Shares of Subsidiary

St. Helier, Jersey Pan-Ocean Energy Corporation Limited (Pan-Ocean or the Company) confirms that it has had preliminary discussions with parties in respect of potential transactions that could lead to a sale of the Companys shares in its subsidiary, PanAfrican Energy Corporation Mauritius, which conducts business in Gabon. These discussions are part of Pan-Oceans ongoing commitment to enhance value for all shareholders, and there can be no assurances that any transaction will occur. The Company will update the market as circumstances warrant.

Pan-Ocean is an international energy company engaged in the exploration, production and marketing of oil and natural gas. Pan-Ocean's asset portfolio is focused on conventional light oil production in Gabon, West Africa. Pan-Ocean's Class B Subordinate Voting Shares and Class A Common Shares are listed for trading on the Toronto Stock Exchange under the symbols POC.B and POC.A, respectively. Pan-Ocean has 24,767,078 Class A and Class B Shares outstanding. The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release. For further information on Pan-Ocean, please visit the Companys web site at www.panoceanenergy.com.

For further information please contact:
Robert S. Wynne, CFO
+44 (0)1534 700906
+1 (403) 705-0304
rwynne@panoceanenergy.com
www.panoceanenergy.com


Source : http://www.panoceanenergy.com/investors/2006/2006_12_july.html

WELL DONE ANDY

JUST BOUGHT FEW MORE TODAY. KEEP MY EYES WIDE OPEN, LOOKING FORWARD FOR THIS LITTLE FISH IN BIG WATERS TO GROW FAST. MY GRAND MOTHER WILL BE HAPPY IN OTHER WORLD. NICE DAY TO ALL

georgetrio - good work, is there a chance you could find a link for your item or tell us where you saw it please?

sunday express dated 16/07/06 not available online but i am going to paper shop to see if i can get a copy of yesterdays paper ( see it to believe it you know )

Should be half price as it's old news!

HI EVERYONE
THIS IS THE LITTLE FISH IN BIG WATERS, HOPE YOU ALL HAVE A NICE DAY, TO GET THE SUNDAY EXPRESS DATED 16/07/06 PLEASE CHECK WITH YOUR LOCAL LIBRARY (NEWS PAPERS ARCHIVES). SHOULD NOT BE A PROBLEM.

georgetrio,
You are being read, no need for you to 'shout' :-)

Plummeting - what's up?

I reckon a bid is imminent for Pan Ocean Energy?

That'll cost a lot

544million plus..........

I wonder how much cash they have currently?

This will be a fantastic buying opportunity if that is what it is.

SWW,

Well the jury's still out, no RNS today. yet!

I have read that SETS had a problem yesterday, so that MAY account for the sudden drop, quite a few others fell too!



Madagascar, Mired in Poverty, Lures Exxon Oil Search (Update1)

July 18 (Bloomberg) -- Two-wheeled ox carts and decades-old Renaults choke the cobbled streets of Antananarivo, Madagascar's capital, reminders of how slowly the country has advanced since independence in 1960. Now the government is auctioning oil drilling rights to improve the lives of its 18 million citizens.

The tripling of oil prices since 2002 and new technology that can reach oil deposits more than 3,000 feet (914 meters) under the sea have revived the Indian Ocean island's hopes for an energy boom after previous finds proved unprofitable.

``The potential for oil is very, very big,'' says Hugues Rajaonson, head of the energy and mines ministry. ``The sector could contribute 15 percent of GDP within five years.''

Exxon Mobil Corp. and Britain's Sterling Energy Plc plan to drill in Madagascar, where the government says offshore basins may hold as much as 5 billion barrels of oil, enough to meet U.S. needs for a year. President Marc Ravalomanana promises to use oil money to reverse the fortunes of citizens who earn less than $1 a day on average and have a life expectancy of 57 years.

The opposition National Party has criticized Ravalomanana, one of the country's wealthiest men, for being too close to international investors and awarding government projects to his own company through no-bid contracts.

Irving, Texas-based Exxon, the world's biggest oil producer, says areas off the coast of Madagascar may hold as much petroleum as West Africa, the company's largest source of crude.

Surging Prices

``We like what we see in Madagascar,'' Chief Executive Officer Rex Tillerson said March 7 at a press conference in New York. The country's geology is similar to Nigeria and Angola, sub-Saharan Africa's two largest oil producers, he said.

Instability in the Middle East and surging demand from emerging economies such as China have prompted oil companies to extend their search for reserves to places once dismissed as too expensive. Record-high crude prices have made it profitable to exploit previously unviable fields. Oil rose above $78 a barrel last week on concern violence in the Middle East may cut supply.

Madagascar has awarded prospecting licenses to nine companies, including Exxon and Sterling, and plans to auction 143 more offshore permits by November. Royal Dutch Shell Plc, BP Plc and Total SA have approached Madagascar about bidding.

It is still a fantastic buying opportunity.

That item shows tons of confidence by Exxon in the Madagascar licenses.

Bit of a good clamour by other Majors too.

hello boys and girls...hows trix?

Maybe this link caused the share to jitter a bit, we should know already.

http://www.forbes.com/markets/feeds/afx/2006/07/19/afx2888853.html

Possible.

There is a lot of mention of 30ishk bopd, and someone may have confused the issue.

This would appear to be the reason for the fall this morning.


UPDATE 2-Woodside production down, warns on Mauritania reserves
Thursday July 20, 2006, 1:26 pm

(Adds detail, fund manager quotes)

By Paul Marriott
ADVERTISEMENT

SYDNEY, July 20 (Reuters) - Australia's biggest independent oil and gas producer, Woodside Petroleum Ltd., said second-quarter production fell 1.4 percent on operational problems and natural field decline, and flagged a possible reserves downgrade at a project off Mauritania.

Its shares fell 4.8 percent to A$43.60, lagging a 1.4 percent fall in the Standard and Poor's ASX200 Energy sub-index

Production for the quarter came in at 15.6 million barrels of oil equivalent (BOE), down on the same period in 2005 but up 8.8 percent on the first quarter, which was hit by cyclone outages.

In June, Woodside cut its 2006 production target 5 percent to 72 million BOE on slower-than-expected production from the Chinguetti project off West Africa and its Australian Enfield oil and Otway gas projects, with delayed output preventing Woodside from maximising exposure to record global crude prices.

"The market is obviously disappointed by the fall in production," said Adam Dixon, fund manager at Ausbil Dexia. "But given they reiterated full-year guidance in this strong oil price environment it's surprising to see such a negative reaction."

"It could be that management is being punished for weaker execution, and probably the good levels of disclosure on areas like Chinguetti have ended up begging more questions," he said.

Woodside warned oil reserves at Chinguetti, which it operates with a 47 percent stake, were under review after disappointing production from the field, and said it expected output to decline through 2006 without further well intervention.

Daily output from Chinguetti, in which Hardman Resources Ltd. has a 19 percent stake, fell from around 66,000 barrels in March to 37,000 barrels at the beginning of July as a result of complex geology. Three new development wells are planned.

"In the context of Woodside's portfolio, Chinguetti is not the most material component," said Ausbil Dexia's Dixon. "The implication is of a downgrade but we don't know the numbers and it would be on the margins of Woodside's total reserves."

The last estimate of Chinguetti's proven and probable reserves was 123 million BOE. Woodside's share of 50.7 million BOE represents around 4 percent of its total reserves of 1.24 billion BOE as at the end of calendar 2005.

The good thing about it is Woodside will now use their own resources and power to up the production in Chig. because it is obviously bothering them and investors.

1.4% fall in production when oil price is up 30% and a fall of over 4%.

Production for the quarter came in at 15.6 million barrels of oil equivalent (BOE), down on the same period in 2005 but up 8.8 percent on the first quarter, which was hit by cyclone outages.

"The market is obviously disappointed by the fall in production," said Adam Dixon, fund manager at Ausbil Dexia. "But given they reiterated full-year guidance in this strong oil price environment it's surprising to see such a negative reaction."