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

AMVESCAP increased their holding from 25.94% up to 28.15%

Optomistic,

Yes they are almost in a position where they have to make a bid for the company now!

Sterling Energy PLC
03 October 2006


Sterling Energy PLC (the 'Company')


Holding in Company



The Company has been informed by AMVESCAP PLC ('AMVESCAP') that AMVESCAP and
subsidiary companies, on behalf of discretionary clients, are interested in
394,941,967 Ordinary Shares of 1p each, representing 28.15 per cent. of the
issued share capital of the Company.


The Company was also notified by AMVESCAP that INVESCO Perpetual UK Investment
Series (UK ICVC) are the beneficial owner of 255,558,099 Ordinary Shares
representing 18.21 per cent. of the issued share capital of the Company, which
is included in the above total.


3 October 2006


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

all very strange and yet sp has fallen slightly and on fairly modest volume
does anyone have any track of the period over which the holdings, especially Amvescap's, has been built?
however, given that Amvescap are holding as nominees, they almost certainly would not have to make a bid if they got above the magic threshhold (29%?)

Not without going through all the back RNS's cynic.

Cynic - they have been building for at least 3 years may be more.

They played a large part in the Sterling takeover of Fusion OIl & Gas in 2003 at prices of around 11.5p (Invesco)

What they have done since I would expect the funds to average out somewhere at around 12-13p, but that is guess.

Why would anyone want to takeover Sterling Energy?

Your question.

Madagascar = Exxon

I'm not buying as I never buy on prospects of a takeover.

you probably speak with the voice of sanity - thank you
if build up had been sudden, then would have been more significant.

The word over the road is one of the arms of Amvescap was touting Sterling around the city last week, according to The Business.

I did not see it so I dont know.

What is significant is that if true, the sp has not responded, unless they are doing a Hardman on Sterling.

Or even a Fusion on Sterling.

Cynic - Here it is..........

The Business

".....Of the Aim-listed companies in Africa, Sterling, Equator Petroleum, and Bowleven are targets. Stockbroker Hargreave Hale, which advises a group of Sterlings shareholders, has been touting the company to potential buyers, as has Bowlevens broker Noble. The aggressive US funds which predominate in Equators shareholder base are known to be looking for a quick exit. Roc Oil could also see itself being acquired......"

I had seen it, I had just forgotten about the Sterling reference as I hold ROC. Frankly ROC is more likely imo than any of the others. They produce 12k bopd all to themselves.

The touting of Sterling does account for the minor move up last week, but interesting that it has not held.

Looks negative to me.

Brent oil, US crude drops to more than 7-month low UPDATE
AFX


(Recasts, updates prices)

LONDON (AFX) - Oil prices fell to fresh lows in afternoon trade here, with Brent nearing the 58 usd mark and US crude falling to below the 59 usd mark, dealers said.

At 4.52 pm, Brent North Sea crude for November delivery shed 1.84 usd to 58.65 usd per barrel, after earlier touching a low of 58.37 usd -- a level last seen on Feb 16.

Meanwhile, US light, sweet crude for November delivery shed 1.87 usd to 59.11 usd, after earlier hitting a low of 58.84 usd -- a level last seen on Feb 17.

Prices were under pressure from bulging US energy stocks ahead of the northern hemisphere winter, as well as from news of a new plan aimed at breaking the deadlock over key producer Iran's disputed nuclear programme, dealers said.

On Monday, Brent had plunged 2.03 usd to settle at 60.45 usd per barrel, while US crude dived 1.88 usd to settle at 61.03 usd. Oil has now lost some 25 pct, or almost 20 usd, since striking a record highs above 78.64 usd in July and August.

SWW,

Northern hemisphere winter is coming, I fancy we will see a rise later, but even if we don't, SEY can live with this price, it's far higher then they envisaged whern the Chinguetti deal was done.

OPEC may well drop production a little if the fall continues, and i still think Iran will result in some sort of military action.

I think SEY is in the market as a takeover target, but i can't see them letting it go at this price.

Iran military action? Get real! Barry Goldwater may have thought such a thing a good idea, but even the current arsehole incumbent would get over-ruled!

Personally not even in SEY anymore but as it was my first ever buy must say "Go on boy, keep going"!! Thats much better...

cynic,

Well if GWB doesn't take any action, their friends the Israelis probably will! (IMO)

Iran is due to turn on a nuclear power station within months I believe.

I don't think that will happen, do you?

The Israelis took out a nuclear reactor under construction in Iraq quite a few years ago, so what is to stop them doing so again? The recent atrocities in Lebanon show the US is quite happy for Israel to be the bully boy on the block and any military strike against Iran will come from its neighbour. IMO.

for goodness sake boys, get into the real world! ..... Teheran rhetoric and rantings are just that .... if you bother to read other than Daily Sport, you will note that negotiations with Iran are making steady progress, though it can be taken as read that they cannot be stopped in the long run from making nuclear weapons ..... IMO, North Korea is a much more dangerous proposition.

A nuclear Iran would pose a threat to Israel far greater than any Lebanon. IMO negotiations are just a smoke screen. I agree Northern Korea is a dangerous situation but they are not sitting on a sizeable chunk of the worlds oil reserves...

though i am jewish, i am absolutely appalled by the truly disgusting and cavalier manner with which the israelis have treated the lebanese civilian population and the arabs in gaza and the west bank etc ...... US leadership has shown its usual pusillanimous response as the jewish lobby pulls a lot of votes .... so much for moral rectitude by world leaders, but history shows such to be non-existent.

sorry about that, but as you can see, i feel quite strongly on the issue.

cynic,

"if you bother to read other than Daily Sport, you will note that negotiations with Iran are making steady progress"


Congratulations, You are only the third person I have squelched in MAM's existence, and the other two had nothing constructive to contribute either,

You can have the last word as fortunately I won't be able to see it!

I'm glad you moderated that!

Not your finest moment.

Andy, Cynic is ok. His opinion can be very useful, I know he can be a little harsh sometimes but that is what he is like.....