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

"Woodside bids for Energy Partners
AFX


NEW ORLEANS (AFX) - Australian petroleum producer Woodside Exploration Ltd. formally opened its $880 million bid Thursday to take over New Orleans-based Energy Partners Ltd., which already is planning to merge with another Louisiana oil and gas company.

In an unsolicited offer, Woodside offered $23 for each outstanding share of EPL. The deal is contingent upon the scuttling of EPL's pending $1.4 billion acquisition of Lafayette-based Stone Energy Corp.

Woodside's price could rise, based on the outcome of a suit Woodside has filed in Delaware.

Woodside said that if either of two termination fees tied to the EPL-Stone deal are invalidated as a result of the suit, the offer will rise to $23.50 per share. If both fees are ruled invalid, the price will be $24 per share, Woodside said.

In midmorning trading on the New York Stock Exchange, EPL shares were up 24 cents, or 0.98 percent, at 24.79.

EPL, which disclosed receiving the offer on Monday, has said that it is reviewing Woodside's proposal. In the meantime, EPL shareholders are now reviewing the proposed Stone acquisition. Stone has said it intends to proceed with the EPL deal.

Woodside also said it filed suit in Delaware challenging an EPL bylaw requiring 85 percent of the company's shareholders to approve the removal and appointment of the company's board members. Woodside said it believes only a majority of EPL shareholders have to approve such a move.

Through its Covington, La.-based subsidiary, ATS Inc., Woodside said it wants to replace the EPL board with its own nominees.

The tender offer by Woodside is effective until Sept. 28.

Woodside, based in Perth, Australia, has been involved in U.S. exploration activities since 1999. The company says it has 3,400 employees, exploration interests in 11 countries and petroleum production in four.

In another attempt to boost its presence in the Gulf of Mexico, Woodside acquired Houston-based Gryphon Exploration last year.

Woodside is the operator and one-sixth owner of the North West Shelf Venture, Australia's largest natural resources project that includes oil and natural gas, liquefied natural gas and liquid petroleum gas.

What has Woodsides offer got to do with SEYlarge trades today,in fact woods. news was floated or mentioned a few days ago,any views.

seawall

I think, you get me wrong, because the ref in the SHARE MAG was a positive one to SEY . In the sense that investors are returning to buy SEY cheap due to recent fall. i did have a quick read but tomorrow i will post the exact words of the MAG.
should i say you owe me an apology?

mbugger - well I thought you would know that answer, but here goes........

Woodside have stated an intention to aquire other Companies operating in thr Gulf of Mexico, last week in thier interims, here is the first.

Stelring have a number of assets, some of which they share with Woodside, Sheel are rumoured to be buying Premier, as are a Mexican Company, it could be the start of M &A activity and that could be the reasons for the large transactions today, on the other hand, maybe not!

geogetio I accept your apology, thank you for being so gracious.

I had followed SEY for the last few days as the Indicators were pointing to being oversold soon, today's share reaction on the way UP and large trades with total volume reaching record numbers, made me think it was time for the selection of the share on the "UPS" thread.

Indicators RSI, Slow Stochastic and MACD are all now on the rise on reaching bottom (oversold)

According to the Telegraph, a new American Investor 'mopped up' more than 30 mill shares yesterday - now that is exciting!

yep, Sterling's cash flow is increasing despite those little concerns, and when a company's cash flow is top banana, dividend can not be rule out, acquisition becomes easy, balance sheet is improving but shareholders should fight any dodgy bidders. Sterling is now cutely profitable. will not sell even half a share at this stage. Same thing will happen in FAO in few months. Best luck

Morning all,
Back in to SEY today after all the shenanigans of the last couple of days. I think it's safe to go back into the water!

it was the Market Report in the Daily Telegraph on friday who reported that a new american Investor had picked up 30 million shares. (see telegraph on-line ).
now that is exciting!

CAPITAL GROUP COMPANIES HAS INCREASED ITS HOLDING IN STERLING ENERGY
TO 86 165 000..........6.14%

SOURCE: RNS

Please note that any holdings by intitutional investors above 5% is significant and can not be disregarded. Now it is interesting.
I repeat: SEY is a top banana company for longterm investors

Best luck to all and to myself

georgetrio,

Sorry wrong thread!

AGM was in June, interims are on 22/09/2006.

Thanks Andy, looking forward to that.

Andy

PER below 4. How do you arrive at this number?.

churchill2,

Ooops, I meant earnings v market cap, as market cap is currently 280 million, and I expect 70 million earnings this year, more in 2007.

This appears too low to me, Max petroleum for eaxmple have a market cap in excess of 300 million, and no definate resources, and certainly no earnings in 2006.

Andy

I think you are confusing Revenues with Earnings. Earnings are calculated after all expenses have been subtracted. Estimated earnings for 2006 are 20 million divided by 1400 million shares equals 1.40p a share. That equates to a prospective PER of approximately 14 times at the current share price. Is that cheap or expensive probably only time will tell.

churchill2,

Correct, I should have said revenues.

I was wondering where you got 1.40p from, as I saw it on the other thread.

I was under the impression they would make more than 20 million this year, but time will tell.

I have just spoken to SEY, and queried why they are doiing Oilbarrel two days before the interims, and they have confirmed they are trying to release the interims before Oilbarrel.

If they do, they will be able to clarify some of their figures.

Andy

Average of Brokers Forecasts. Digitallook have something similar.

churchill2,

Ok fair enough, i think they may surprise on the upside as the price of oil has been higher than expected, but we have lost production too, so one may well cancel out the other.

There has been at least one lift since the cutoff for the interims.

What is going on here? More buys than sells again and sp drops to 19p!!!!!!!!!!
Last week, investor mops up 30m but sp falls back again, he must be a tad pissed off??

andysmith
it takes time sometimes to clear the bears but soon will be blue again. should be adding more at this rediculous price.