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

proptrade,

I'm looking for it to finish higher than 15p, preferably with some volume.

SEY looks a decent long term hold, and the guys running this are a solid experienced team of ex BP people.

couldn't agree more. this is far far from a spivvy emerald and i have every confidence in management. even seems to me that this has bid target written all over it.

i think with the news and vol increase this story may creep into the sunday press. we shall see...

Thanks Andy.

Tells a story hey?

Don't know how it justified a drop back tofay on the strength of one sell of 225,000 when nearly all the rest were buys but there you go!

There's 'out so fickle as MM Folk.

Looks good for a steep upside as ypu say proptrade., agreed in respect of poss bid target, but if not no matter at all.

Lets see what Friday brings.

good to see were on the up again, would be great to end day at 15p, then hold it there next week, hopefully the odd favourable comment in the weekends financial press might help us to push on next week, we've done well this week over 10%, let's hope it continues.........

Good News,
just came upon this on the iii.co.uk discussion board posted today..

The following was on the RHPS weekly update circulated today:-

STERLING ENERGY (SEY): Thanks to its smart acquisition of Fusion, Sterling has an interest in 20 wells to be drilled offshore West Africa, commencing in August. And it is a 'carried interest' - which means that someone else pays for it, in return for a slice of any find. Sterling will also be drilling in the Gulf of Mexico. Any successful strike should propel the shares towards my 25p target. BUY

always nice. cheers for the news...

even better prop,


Sterling Eagerly Awaits The Start Of Its Negligible Cost 20-Well Drilling Programme Off West Africa

Sterling Energy is gearing up for the start of a 20-well drilling campaign in the waters off West Africa that could transform the fortunes of the AIM-listed explorer. Whats more the company, which at the back end of 2003 acquired Fusion Oil & Gas for 40 million, will pay virtually nothing for its exposure to high impact wells in Mauritania, Guinea Bissau and Gabon because Fusion had negotiated free carries from its partner companies. No other company has the exposure to that many wells in Africa for so little cost, Sterlings chief executive Harry Wilson told oilbarrel.com last month. The real prize lies in the deepwaters off Mauritania, where Sterling now has a stake in one of the most promising deepwater oil plays to be found anywhere on the planet. To date, the Woodside-led joint venture in Mauritania has clocked up a 100 per cent strike rate in the Miocene sands and sanctioned the development of the Chinguetti oilfield. Sterling timed its Fusion strike just right: since the Fusion deal was declared unconditional in early December 2003, the Chinguetti field has been declared commercial and the joint venture struck pay dirt with the Tiof-1 and Tiof West wells which, early numbers appear to indicate, could dwarf Chinguetti. The first well in Mauritanian waters is due to spud in August. As Richard OToole, Sterlings chairman, told investors last month, the upcoming drilling programme could have a material impact on the value of the company.

And it is not only in Africa that things look promising: Sterlings Gulf of Mexico properties continue to exceed expectations. Since year end the proven and probable reserves have doubled and there has been a ten-fold increase in production revenues. This improvement was largely the result of a US$39.5 million acquisition of Osprey Petroleum Partners in February 2004, which bought the company increased exposure to the buoyant US gas market. Sterling has lined up a development drilling programme of at least six wells with the aim of more than doubling production over the next year from its current tally of 11 million cubic feet per day. The first well, High Island A68, is due to spud next week, the company said in a statement.
Sterling has firmed up its financial position since last year, reversing the 98,000 loss it posted in 2002 to report a pre-tax profit of 1.8 million for the full year 2003. Turnover rose from 0.6 million to 5.5 million in a year that OToole said exceeds all our expectations in terms of growth and future prospects. With the 2004 multi-well drilling campaign about to kick off, there are hopes that the next 12 months will prove even more successful
this from todays oilbarrel.com

Phew

Are we on a winner or what??

Thanks for this research guys.

I have been holding these since Fusion days, and although I did not know it, I knew they were good value, this proves it, and backs up your optimism.

it really couldn't be better at this stage. i am now thinking of adding again...

this reads so damn well and what encourages me more is the total lack of spivvyness (if that is a word) relating to this stock. it seems to have everything going for it, and the multi drill program looks like it will success if only by the laws of probability (considering the commercial status of the blocks).

all systems go, now how do we get others involved...

Have a look at the tradesd today.
Many large blocks being bought.

stake building? or one of the tip sheets may be all over it. either way, we like.

15p!

All the unknown trades look like buys too, so this may gain a bit more before days end.

The amounts look like Institutes as well as small traders getting on board.

Great week so far and so good!!

yup, i really think the sunday press will pick this up. good rise, good volume, great story.

the iii Cairn discussion board are all talking about SEY now, i'm sorry guys my fault lol , i wish i had more dough, these are going to fly, i can feel it in my water, prop said the other day he thought 20p the end of next week, i thought he'd been on the "wacky baccy" now if he has i want some of his "shit" it seems like it does the trick.......

a mention in the independant on sunday, anyone else seen anything ??

ramraid,

Can you post it up please?

If it's not too long that is!

it was the telegaraph andy, my mistake ,read it on another BB, wasn't very much but here it is

Taking Stock with Edmond Jackson:
* I am continuing to hold Dana Petroleum but am also watching Sterling Energy and Hardman Resources.

that's why i didn't post it in the first place.

ramraid, at least it is an acknowledgement that Sterling are being tracked by the press

Early trades look promsing, 1/4p bid and ask 15.25 already. Lets hope it stays there and improves.