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

All,

Sey are mentioned in this article, which is the full article form the post above.

After the Oilbarrel presentation ladst week, they were going to meet up with the Kurdish delegation who were meeting companies in London for the week!

Harry mentioned the high prospectivity in Kurdistan, and that the targets were easy to see, and the only reason they were not already in production was that Saddam wouldn't allow them to.

I have the feeling that the kurds are going to go it alone on the oil contracts, and sod Baghdad.

I also have a feeling that the US and Turkey will ensure they are not deterred militarily from doing so. Having said that, if I were the kurds I would be training a small army though, just in case!

-------------------------------------------------------------

UPDATE: Iraq Kurdistan Oil Min In Talks With Oil Majors
Wednesday September 20th, 2006 / 20h24

(Updates an item timed at 1229 GMT throughout with quotes from anonymous company sources, detail, background and earlier comments from Iraq's Oil Minister Hussein al-Shahristani.)
By Selina Williams
Of DOW JONES NEWSWIRES
LONDON -(Dow Jones)- The Kurdistan Regional Government in the north of Iraq is set to sign oil contracts with companies next month, and is in talks with oil majors, its oil minister said Wednesday.
The KRG's Minister for Natural Resources Ashti Hawrami declined to give names of any companies that the KRG was in talks with, but said there was a lot of interest from oil companies of all sizes, adding that up to eight memoranda of understanding were pending and that he had begun talks with around ten new companies in recent months.
"We're already in discussions with companies ranging from the medium-sized to the big as well as talking to substantial ones," Hawrami told Dow Jones Newswires ahead of a London briefing on the region's oil sector.
"We have been talking to oil majors about specific areas," Hawrami later told reporters.
However the signing of any more oil deals in Kurdistan is likely to provoke ire in Baghdad. The federal government has long held that contracts signed without the approval of the central government should be declared void.
Iraq's federal Oil Minister Hussein al-Shahristani has said that all the country's oil exploration, production and export contracts should be handled by his ministry in Baghdad. There has also been talk of blacklisting companies that work in Kurdistan.
To date mostly small, independent explorers have invested in northern Iraq's Kurdistan region.
The KRG has signed production sharing agreements with companies including Norwegian oil company Det Norske Oljeselskap DNO ASA (DNO.NS), which is already drilling for oil and Turkey's PetOil and Genel Enerji. It has also signed a memorandum of understanding with Australia's Woodside Petroleum (WPL.AU) and Heritage Oil and the U.K.'s Sterling Energy.
Despite the risk that the federal government may not in the future recognize their contracts, these smaller companies are attracted by the region's greater security than the rest of Iraq, which is also reflected in its greater political stability.
Unlike the rest of Iraq, Kurdistan isn't fractured into three separate parts each with desires to go their own way. And since last year Kurdistan has had one unified government - the KRG - making it easier to do business in the more stable north.
In the rest of Iraq, foreign oil companies have been unable to secure contracts because of the lack of a federal petroleum law and the dire security situation. Political delays over the constitution and the formation of a government this year following December elections have also slowed the whole process.
The bigger companies have also feared being blacklisted and being unable to bid for the more lucrative possibilities in the rest of Iraq if they sign deals in Kurdistan.
Wednesday, Iraq's Oil Minister Hussein al-Shahristani reiterated in a statement that he expects the new federal petroleum law to be submitted to parliament before the end of this year.
He added that several oil majors are ready to start negotiations with Baghdad to develop fields even before the deal is passed.
However, Hawrami said he was eager to get on with the development of Kurdistan's hydrocarbon sector so as to provide much needed revenues for reconstruction.
He said the region's own draft petroleum law is ready to go before the parliament of the KRG this month or next, adding that he expected it to be passed by lawmakers in October.
"There's a vacuum (in the rest of Iraq,) and we need to engage these (oil and gas) resources through rapid development," Hawrami said.
Among the thorny issues surrounding Kurdish oil production within Iraq is who gets the revenue from the fields that weren't in production when the constitution was agreed last August - the KRG or the government in Baghdad.
Hawrami said that Kurdistan has no intention of withholding revenues from Baghdad from the new oil fields that would be developed in the undisputed territories in Iraqi Kurdistan.
But he added that it would not be without conditions.
"It makes sense to share (with the federal government) and we will share it, but with conditions. The industry must be structured in the way that we want it," he said.
Oil output from the undisputed areas of Kurdistan under the administration of the KRG have the potential to reach up to 1 million barrels a day within the next few years on top of around 1 million b/d from the disputed regions, Hawrami said.
This would necessitate the construction of a new 1 million b/d oil export pipeline as well as an export pipeline for gas. Hawrami said he would prefer a new pipeline to run alongside the current line to Turkey's port of Ceyhan, but didn't rule out the possibility of shipping the oil south if Turkish terms weren't attractive.
Although northern Iraq's oil reserves aren't as big as the giant southern fields around Basra, geologists say the North still has good potential, especially as the area is largely unexplored and modern techniques such as seismic imaging have never been used in Iraq.
The regional government estimates northern Iraq's reserves at around 45 billion barrels of oil and 100 trillion cubic feet of gas.
Executives from Royal Dutch Shell PLC (RDSB.LN), Eni SpA (E), BHP Billiton (BHP) and Statoil SA (STO) were among those at the briefing.
One executive from an oil major said that although Kurdistan was an interesting prospect it was still too early to talk about doing deals there.
"At this stage we're keeping an eye on what's going on there - we can't ignore it completely and need to be present in some form because all the other companies are interested too," the executive said.
-By Selina Williams, Dow Jones Newswires; +44 (0) 20 7842 9262; selina.williams@dowjones.com

In the mist of all the shorting rubbish that we have heard of late, it is pleasant to be in a position of not knowing what good news to put yesterdays rise down to.
Was it...
Todays news on Forum?
Drilling news any day from the GOM?
Buying ahead of PSC signing in Kurdistan next month?
Stake building for a bid?
Possible new licensing deals.

Hardman proved yesterday what happens when value goes unrecognised by the market. Lets hope that it has opened the eyes of the market to Sterlings prospects.

fido,

Maybe a combination of the above, rather than one single event?

Andy,
I have heard talk of new deals in North Africa, Tunisia and Cameroon. Petroceltic are doing good things in Algeria, making that area promising as well.
Can you add any meat to that rumer?

Does Sterling still have 28% of Forum Energy?

Is it 28% SWW? I thought it was just 14%. I'll have a search around and see what I can dig up.

I've got it, it's 14% but thanks pondy

Post the placing it is 14%

Originally it was 23%, but the placing diluted their stake.

25 APRIL 2005

STERLING ENERGY PLC

SALE OF PHILIPPINES GAS ASSETS TO JOINT VENTURE

Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas exploration and production company, today announces the sale of its GSEC 101 license to Forum Energy Plc ("Forum Energy"), in return for an equity interest of 23.0% in Forum Energy.

If FEP does turn out to be a monster then that 14% could prove to be very valuable indeed. Nice thought.

Pondy,

It is 14%.

Pondy,

It is 14%.

Pondy all assets are good, but 14% spread across all of the Sterling shares dont add much.

If it did, it would have done so when Sterling had that license.

The assets were known and described as stranded gas.

Did I say here I found an item saying on the 22nd Setember 2006 Stelring had applied for a Serviuce Contract for this license?

Dont understand why, as they are only shareholders, unless they are now buying in.

http://www.manilatimes.net/national/2006/aug/22/yehey/business/20060822bus15.html

Sterling seeks to explore off Palawan


Britain-based Sterling Energy Ltd. is seeking a service contract (SC) from the Department of Energy (DOE) to allow it to conduct further explorations at the Reed Bank area in northwest Palawan.

Energy Undersecretary Guillermo Balce said that the company is asking the DOE to elevate its exploration license from geophysical survey exploration contract (GSEC) 101 obtained in 2002 to an SC.


Andy I will let you paste this on advfn as I am now not bothering with that thread.

It's significant news I feel.

Here is FEP's Broker note from November 2005.

No mention of Sterling.

The gas in place was estimated as I said, and Forum were looking for a farm in partner.

I reckon that's Sterling Energy then!

http://www.forumenergyplc.com/downloads/Forum251105v3.pdf

SWW.

FEP major shareholders.

MAJOR SHAREHOLDERS
Shareholdings in company as at 31st December 2005, where 3% or greater of number of shares issued were held as follows:

FEC Resources, Inc: 36.72%
Sterling Energy Plc: 14.71%
Moore Credit Fund (Master) LP: 5.68%
Mellon Nominees (UK) Limited: 4.39%
The Bank of New York (Nominees) Limited: 4.16%

My broker told me about this in the morning.... it was amazing to see that SEO fell .25p yesterday! good buy for me 15000 at 18.5p

I HAVE A DREAM

I HAVE ADREAM THAT ONE DAY, ALL INVESTORS WHETHER, BLACK OR WHITE WILL COME ASKING FOR A PIECE OF THIS LITTLE FISH. I HAVE A DREAM THAT FISH CAN FLY. LOVELY SEY, EXCELLENT FOR LONGTERM INVESTORS. I WILL NOT SELL EVEN A PIECE OF ONE SHARE. BEST LUCK. DYOR

Tonker - who is you broker because mine nevers says a word except within any trade.

Tonker,

Some nice trades at the close, although the 2 million couild have been a delayed sell, but the price finishing up 1p indicates that at least the 1 million was a buy IMO.

let's hope this momentum carries us back through 20p, I would like to see support above 20p if possible.

seawallwalker, he only gives me a little advice, I was going to buy Forum Energy... he noted that SEY owned 14.5%, and told me they went down yesterday! He also told me that he had bought some earlier..... but I pay a lot in charges.... Walker Crips. I have been buying and selling stocks of him for years now, so we exchange info sometimes.