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

Why the sudden plunge off the cliff?

Queen1,

This RNS from Hardman.
---------------------------------


Hardman Resources Limited
23 August 2006

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 23 August 2006

AUSTRALIAN CONTACT: Simon Potter
Hardman Resources Ltd
+61 8 9261 7600

LONDON CONTACT: Patrick Handley
Brunswick Group (UK media relations)
+44 207 404 5959

RE: ADVICE REGARDING HALF YEAR 2006 RESULTS AND
CHINGUETTI UPDATE

Advice regarding Half Year 2006 Results & Chinguetti Update

Hardman Resources Limited ('Hardman') wishes to advise that it will issue its
Interim Results for the Half Year ended 30 June 2006 at 7:30 am WST on 29 August
2006. A copy of an Investor Presentation relating to these results will be
placed on the Hardman website
www.hdr.com.au
shortly thereafter. The Interim
Results announcement will include additional details on the performance and
outlook for the Chinguetti field offshore Mauritania and provisional estimates
of oil volumes discovered to date in Uganda, following the successful test
results announced earlier this week.

To date, the Chinguetti field operator, Woodside, and Hardman have advised that
the estimated reserves of the field are under review following the significantly
lower-than-expected production. The operator has now advised that the updated
reserve estimates, reflecting the re-appraisal of its geological and reservoir
models, will be provided by the end of 2006.

As an interim measure pending more detailed data being available, Hardman will
provide in its Interim Results announcement its view on those aspects of the
field's potential which can be commented on reliably at this stage. This will
include volumes of oil in place, which as confirmed by the operator have not
materially changed, and estimated recoverable reserves from the existing Phase 1
and planned Phase 2 wells which formed the original development plan. The wells
in this original plan are not likely to recover significantly more than 50% of
the original 2P (proven and probable) reserves estimate of 123 million barrels.
It is not possible at this time to provide a reliable estimate of complete 2P
reserves as this will have to take into account additional recovery from other
future wells in a re-assessed development plan. Ultimate recovery will also
depend on the benefits from the proposed 4D seismic programme in early 2007 and
application of different technical solutions (eg well designs) from those in the
original development plan. The corresponding net entitlement reserves under the
production sharing arrangements are expected to be reduced by a lesser
proportion than changes to the gross field reserves.




SIMON POTTER
Managing Director and CEO



This information is provided by RNS
The company news service from the London Stock Exchange

Thanks

It's an amazing share this. I've been in it for over 3 years now and it can take months and months to increase by 10%, with tiny increases here and there over the period to achieve the rise, despite excellent newsflow. Yet with a less favourable anouncement the sp can drop 10% in less than an hour. Go figure.

queen1,

I totally agree, pretty frustrating!

Down around 17% now!

A total over-reaction by the market IMO.

A buying opportunity then !

Make sure it bounces off the 20p resitance turned support line first, IMHO

Probably best left alone imo.

No more top ups on a downtrend for me.

Good policy that is seawallwalker.

remember the harricane last year is still playing on many investors' mind but Sterling is not concerned about everyday market's view because they know what they are capable of, it takes time to build serious business. fund managers should return to the market by september so should AMVESCAP. i would be very happy if the sp returns to 18p in order to load my plate more before the big party.
i will not sell my STERLING before the sp reaches minimum 1. best luck and best party. deep breath and patience and big reward

queen1,

I agree, ROC's statement has done the damage, and is in istself a best guess, and not based on any currently known fact.

Further down the statement, ROC state that reserves are as previously stated, and, more importanltly, the operator, Woodside, would be making a statement re reserves at the end of this year!

No comments from Sey yet.

Queen1

Time to buy a few more, just done so at 20.725p, I agree with your opinion!

Ray, looks like a lot of people are buying now.

Certainly does goal.

To 'eck with it........ I'll break a rule for a few.

Well done SWW!

Andy & Goal - It's been a long haul and it's just got a little longer but I firmly believe that the end result will be worth it...eventually.

I didn't expect to see 21p again. I suspect MMs are holding the price down to attract more sells. IMO
I hold and will buy further.

I broke the rule as well.

Todays lot is strictly for trading, I need to refill my wine cellar, well attic really, hum, I suppose it could be a little loft then.

6 bottles should do it!