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

Tonker ..... as Andy said, a very interesting arrticle ..... however i would just bring to everyone's attention a small clause near the beginning ...... "If taken onboard, the law could be passed by Parliament in September." ...... so now that we are quite well into October, has there been anything further, notwithstanding that much discussion and negotiation would have been going on behind the scenes anyway.

I'm cooking chicken pasta with a pesto sauce tonight. All washed down with a few G&T's. I can see Iraq fragmenting along ethnic lines.

LOL
MS

Seawallwalker,
To put your mind at rest. The reason your posts were removed from iii was because I complained about you. As for the rest of your post-don`t flatter yourself.

Lucky I copied them then isn't it?

seagoon AND fido ......it is prob 6 of one and half a dozen of the other ..... grandpa says time for both of you to bin the bags

yes, otherwise we will have to start a new thread, not for SEY, but for "fido and seawallwalker slagging off thread".... lol

guys,

PLEASE chill!

this has been an informative thread, rare for a bb in my experience, oil is movig upwards a little, can we return to discussing SEY please???

thanks...

http://imagesignal.comsec.com.au/asxdata/20061010/pdf/00654960.pdf

10 October 2006 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE

"3. Chinguetti Oil Field, Offshore Mauritania (ROC: 3.25%)
Gross Production from Chinguetti has recently averaged about 30,000 BOPD (ROC net: ca 1,000 BOPD)."

All,

Please be aware that personal insults have no place on a financial bulletin board, please stick to the topic at hand (be that a positive, negative or neutral view that you have), and not on trading insults.

This applies to all users of these boards.

Now I hope you all have a good day, and I hope that I have made my point clear.

Regards

Ian

Ian
I've asked my broker about trading insults, but he says he doesn't deal in them. Can you recommend one who does? I've heard they can make alot of money. lol!
sd

seawallwalker, help me with your above post, not clear on connection to SEY?

Tonker - Sterling have interests in production from Chinguetti, so it's relevent.

8% give or take from the Government, 4% give or take from Premier.

The volume fluctuation does therefore affect day to day profits. It also shows a decline from Chinguetti is continuing despite the introduction of new compressors.

Its a complex field and no doubt more complex than was expected by anyone.

This is the latest from any of the JVP, so I have posted it.

Thanks, I should know that, being a holder of these stocks! Good to hear from you

Welcome Tonker.

I also hold ROC did hold Hardman till the t/o was announced and sold, I intend to buy Tullow but when it suits me, have no interest in Premier although they could be the next of the JVP to be taken over and will hold Sterling when I feel like it.

The latter is why I continue to track this stock however as I have previously said, I will buy for Madagascar.

In respect of Mauritania, Chinguetti seems to be experiencing traits similar to those discovered at Tiof, which is why that project was delayed.

I also believe that Woodside knew of such problems which is why they sold their Hardman stock at $1.75AUS a while back and also probably what caused the core of the Hardman Board to leave before Chinguetti came on line, and that included Ted Ellyard who was CEO, he left with ill health. All of that before Chinguetti came on line.

What next there?

We will wait and see.

SWW,

SEY only expect one more lift between now and Xmas, so there may be minimal impact to their expected revenues.

SEY made three lifts between February and June, as reported in the interims recently, and have made another two since, with one more due before the period for the finals closes Dec 31st.

BIG OPPORTUNITIES IN SMALL-CAPS

Some oil and gaz companies will try to mix oil services with production
although these are comparatively rare.............
Sterling Energy generates $2.5million a year from the gulf of Mexico pipeline
that it operates at an annual cost of $800.000

SOURCE: Current Investor Chronicle

Well, oil services is not doing badly for SEY apart from the oil production.
the little fish will fly.

georgetio - no doubt, eventually.

Andy, this gyrating between 30k and 35k bopd has me thinking that there is something not right still with the extraction equipment or the location of the Chinguetti production wells. We know the northern wells are shut in now, which means the fluctuations are from the 4 southern production wells.

I understand that the production wells only have a relatively short shelf life a matter of a few years, so the sooner they are replaced the better.

You are correct in your statement that it will have little effect on revenues this financial year now, in this case it's the longer term that will have reduced revenues, by which time, other explorations will hopefully have either produced something to take the focus away from Mauritania, which is not the next biggest oil province after all imo.

When you look at what else is being drilled in other licenses, i.e. Dana drilling block 7 and 8, they target potential trillions of cubic feet of gas potential and find..........nothing or nothing much. Of course thats not a big problem to Sterling as they currently have no interest.

Or do they?

Sterling wait on Banda gas being turned into revenue, this is not likely to happen unless enough other gas is found other than Pelican to warrant an LNG plant.

So each gas duster does delay that event and impact albeit in a minor way on future revenues.

No, the best areas seem to be the PSC A and B blocks and so far, and Chinguetti and Tiof have sand problems. Tevet is a small but useful find having two main zones of oil which can be extracted when tied back to Berg Helene. That is pencilled in forl 2009

It's just as well that Sterling has this agreement with a major free carry, because if they hadn't, they would be continually going to shareholders for cash.

I should think the Mauritanian Government are far from pleased with their returns.

Just as well they are taxing the JVP partners really.(around 50% IIRC I saw figures for from a Hardman Brochure). This is the difference between Sterling and the JVP because as I understand it, Sterling get their royalty untaxed apart I stand to be corrected there.

Given also that the Mauritanian Government are repaying the loan, (which ever way you want to see it I see it as a loan), there is revenue shrinkage for the Mauritanians and revenue growth for Sterling.

Sterlings EPS of 0.34p is set to grow, albeit irrelevant at the moment but at least it is a plus.

Meantime we sit and wait for a production decision for Tiof, which should get a decision along with Tevet anytime soon.

The best thing Fusion Oil did was to sell off their slice of the field for a percentage of royalties. It did not seem a good decision at the time, but it certainly does now.

Okay so whats left this year in the drilling campaign?

Aigrette, where Sterling has no interest, it would be nice to see something useful from that which is targeting 0.6 TCF of gas, (they hope).

Chinguetti 18

The next round will be next year from July onwards.

All this with the background of gas production from the GOM, a very useful cushion which continues to grow

Interesting isnt it?

sorry to be a day late but I reckon soaking your conker in epoxy resin should produce a winner, or a nasty headache. Should settle the argument.

Opening very weak today, 16.75p mid.

From advfn - yes I do go there, I even post there now!

deanroberthunt - 11 Oct'06 - 19:54 - 10558 of 10565


what one should consider is irrespective of the Ching issues/downgrade, this company is still looking at a minimum profit this year circa 15m, probably rising to 22m+ next year, with just the current producers.......and all that for a MCAP of 240m.......you get the rest for free, and thats some free, flippin 8 wells to come in next 9-12 months and the rest! + stake in Forum!

Anyone can find fault in anything if you look hard enough, but the figures speak for themselves, just one decent find and this becomes ridiculously undervalved and its mega re-rating time.......would I accept 26p, would I hell, i wouldn't accept 30p or 32p either........if this starts pushing the envelope with 30, 40, 50m profits (forecast) then 240 MCAP is silly season!

what would I take if someone wanted all my shares tomorrow, well I'd probably faulter @40p.....but thats just my opinion......

My point is, this does not matter at the moment.

I think this partly the reason for drag performance of SEY lately:

http://www.news.com.au/couriermail/story/0,23739,20565336-3122,00.html