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

SWW,

I always wondered if SEY put Woodside's nose out of joint with the agrrement with the Mauritanian government?

Some large buys after the bell today!


16/11/06 17:04 18.714 800,124 O 17.5 17.75 Buy
16/11/06 17:01 18.68 949,816 O 17.5 17.75 Buy
16/11/06 16:38 18.596 2,291,675 O 17.5 17.75 Buy
16/11/06 16:37 18.5 1,000,000 WT 17.5 17.75 Buy
16/11/06 16:36 17.75 130,675 O 17.5 17.75 Buy
16/11/06 16:36 17.75 6,954 O 17.5 17.75 Buy

I also sense not much till Chinguetti gets sorted, but I did read the bit about profitable assets they are seeking.

Hmmm.............

Who?

or

What?

Sterling Energy to review Chinguetti reserve estimates
AFX


LONDON (AFX) - Sterling Energy PLC has said it will review its estimates of proved and probable reserves at the Chinguetti field in Mauritania in its annual results statement following a report by Woodside, the field's operator.

In an operational update the AIM-listed gas and oil company noted that Woodside's interim reserves update said there were 53 mln barrels of proven and probable reserves at the field. However in its 2006 half-year report Sterling used a provisional estimate of 80 mln barrels of proven and probable reserves.

Sterling said the planned 4D seismic survey at the field will make it possible to have a much better picture of the ultimate potential recoverable reserves at the field. Sterling has an interest in Chinguetti through a funding agreement with the Mauritanian government and a farm-in arrangement with Premier Oil.

Sterling also announced that it has joined an onshore US infill well programme, which will start in December. It said three largely carried explorations wells in West Africa and 3 in the USA are due to spud by the end of the first half of 2007.

have been out of this stock for several months and have not really followed, but if you look at the chart below, you will see that sp has just dropped through 50 dma, which is scarcely encouraging ...... looks to be support around 17.

Thanks cynic.

Small is beautiful.

Well that's what she says anyway.

I don't see her point.

I'm sure she does when I not looking.

Rude I call it but what can you do?

Charts, Shmarts. They have their place 'n all but surely SEY has more going for it (cash, prospects, mgmnt) than a couple of lines on a graph. All IMO of course.

queen ..... i merely passed comment as i was requested .... for myself, i see no reason to re-invest at this time

queen1 - I asked for it and the comments, I came out with gobbledygook to cover my thoughts, however I will now post them.

I agree with cynics view 100%.

I have already said I did.

I have no doubt you are very familiar with my varying degrees of pessimism based on my research and assessments of Sterling.

Nothing has changed, in fact the Management have confirmed my thoughts with their update.

The only thing that is interesting in respect of Sterling is Madagascar in my book and that is now 12 months away plus.

You can't sell the Management and prospects remain prospects until drilled.

They may have $50mUSD and rising, how many shares are there?

1402950000 according to figures here.

You get a fraction of a US cent per share in fact 0.356cents cash for each share.

Of course the revenue will keep coming in, but at what rate?

Wait and see.

Chief Executive, Harry Wilson, said:

'Our cash balance, currently over $50 million, continues to increase, supported
by lifting from Chinguetti and production in the Gulf of Mexico. Activity over
the next year remains at a high level........................

Great, but the money seems to be spoken for, lets hope they are not overstretched like Hardman are.

I have to ask myself why I bothered buying back in here recently?

Meantime there is a pretty head and shoulders forming on the chart, the right shoulder is almost complete, so the time to invest is not now.

Charting School

Of course I could be wrong but read over on ADVFN, a number of long termer's are cutting, have cut or or run.

We can't all be wrong.

All imo and dyor etc.

sww .... thanks m8; same conclusion from different angles, though i happily admit yours is based more on research than mine ..... the markets aren't always clairvoyant, but it is amazing how often they are .... this is the reason why it often pays to buy shares that are rocketing (for good reason rather than hype), and to avoid those that are plummeting (until they perhaps find solid foundation at a much lower level)

cynic, thanks, I will understand that one day.

It a good philosophy if I can apply it.

I am finding that I need to do less research otherwise I am prone to knee jerk reactions.

In respect of Sterling, I definitely know too much about this Company and therefore am aware of the possible pitfalls.

That makes me see them happening when probably they are not if you understand what I am trying to say.

Sterling is heavily dependant on Chinguetti being a success, and currently it's not that's a fact.

That's why the sp is where it is.

i see no reason to buy either ..... much happier with TLW and BUR, though I am getting a bit bored with that one so may cut at least part of my holding ...... oil prices are currently heading sharply south too, along with other commdotiy prices ..... ergo, not really the right sectors to be in, unless there are specific situations - e.g. questionably/arguably GOO and CHP

Currently I do not hold any mining stocks either, though it just may be that gold (precious metals) may buck the general commdoity malaise.

The indices (Dow and FTSE) make interesting punts at the moment, though they can be a bit scary ...... Stops work fine, but of course can annoyingly cut in prematurely

Posted by emptyend on TMF

Starts:- Interesting to read the FT comment today on oil prices!.....

http://www.ft.com/cms/s/a00ddb1a-76a9-11db-8284-0000779e2340.html

"US crude prices dropped below $55 a barrel yesterday, their lowest level for 17 months, as anxiety and weakness spread across the commodities complex this week."

....ie across the very liquid contacts which the hedge funds and others had mainly been speculating on.....

"False rumours that crude storage facilities at Cushing in Louisiana, the delivery point for the West Texas Intermediate contract, were full, triggered selling on Thursday. The rumours underlined market concerns about excessive levels of US crude stocks and selling was also encouraged by concerns about mild winter weather in the northern hemisphere."

You know what I think?.....plain, straightforward market manipulation games between investment banks and hedge funds, ahead of a contract expiry! Obviously someone somewhere was a forced seller of the Dec contract in some size - and IMO someone somewhere else worked out that they could short the market profitably by manipulating it [via a combination of large shorts and false rumours] over a couple of days. Standard investment banking tricks - when they think they can get away with such things [which they usually can, of course, because the wholesale markets are "consenting adults" markets - assuming one ignores collateral damage elsewhere] ends

HTH to understand what's happening to oil prices this week gone.

America certainly seems far more lax in its control of false stories than would be allowed over here ..... For all that, I never buy into all the conspiracy theories that seem to abound on this BB ...... No price, whether share or commodity, can rise inexorably and without correction ...... Ultimately, market forces prevail - i.e. supply and demand ...... surely there is no need to expand on that?

No.

Just posted it for a balance.

Applies to Tullow of course which I also hold.

Cynic & SWW - As I said, all IMO. And I'm not buying at present but I am holding. In fact I bought in at 7p and have held ever since. Long term I still see a bright future for SEY. Day-to-day volatility will always be there to unnerve holders. I agree that it's not a raging buy at present although I see no reason whatsoever to sell. Hold I shall then :-)

or you may think it worthwhile to sell into any rally and buying better quality

You may, or you may be happy with your current portfolio mix :-)

lol queen1.

I like that.

I'm never happy myself, always something I bought and can't work out why?

I makes for some excitement some times though, especially when one of them was Langbar!!!!

I almost but not quite believed the story there and actually bought some, then some poor kind soul posted a link to show the deposit from Brazil to ABN Amro, and would not answer my question as to what was I looking at?

That was when I realised it was most likely a scam.

The there was PRE and the Danbury Dome. That was another good one, lots of blarney there, nearly cost me a lot of money.

Then there was......... I could go on, but that's why I have trimmed my portfolio of most of the one's I bought when I was bored. Not a good discplined way to trade but there you go.

nor is just hanging on to a stock in the vague hope it may go up ...... frankly, i see nothing very enticing about SEY, especially in the current climate of falling crude prices

Exactly why I had a clear out.