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

Nothing worse than kling ons............

sound like some form of underwear for born-again virgins

Never thought of that cynic....you an expert.

5TH AMENDMENT!

queen1,

Good to see you still around.

I'm still holding here, plenty of action due in the next six months, no guarantees of success, but you have to be in to benefit if they do enjoy some success with the drill!

I actually think theya re close to being in a position to announce an agreement in Kurdistan, as they helped the regional government of Kurdistan draft it's oil and gas charter.

Kurdistan must be the most prospective underdeveloped region left in the world, and there will be a scramble for licences there IMO, but SEY are already working with the Kurds, and well ahead of the pack.

At their recent Oilbarrel presentation, HW mentioned they were looking to participate in the forthcoming Cameroon licence round, so there may well be announcements we do not expect.

I'm prepeared to be patient a little longer, afterall, there's no guarantee with any stock, so moving the money may not be beneficial anyway.

Thanks Andy, I hope you're well. Obviously sticking with SEY is not without its risks but as you say, patience may be a virtue and the work in Kurdistan is promising.

All quiet on here for a week. Have you all sold up and moved on?

Another stake increase by AMVESCAP. Surely a bid can't be too far away now?

Sterling Energy PLC (the 'Company')

Holding in Company

The Company was informed on 30 November 2006 by AMVESCAP PLC ('AMVESCAP') that, following the purchase of 1,964,136 ordinary shares of 1p each ('Ordinary Shares'), INVESCO Perpetual UK Investment Series (UK ICVC), are the beneficial
owner of 266,984,458 Ordinary Shares representing 19.03 per cent. of the issued
share capital of the Company of 1,402,950,558 Ordinary Shares.

The above purchase increases AMVESCAP's interest, within the meaning of Part VI
of the Act, to 407,242,907 Ordinary Shares representing 29.03 per cent. of the
issued share capital of the Company.

Pondie ..... haven't been a holder of SEY for some months now, but certainly that Amvescap holding is interesting as almost certainly being used as a nominee ..... unless I am much mistaken >29.9% means t/o must be tabled ..... however, that does not necessarily mean a premium

Have you all sold up and moved on?

Yes

Nah! Just getting interesting, don't you think?

No

FWIW I reckon SEY is in play and the various stakes are being hawked around to try to find a buyer. I don't hold any shares now, but I do have a March 07 spread bet that is seriously under the water at present. I am hoping that it will be taken out sometime in the next 4 months to save my bacon. I need 22p to break even and from here that's just about enough of a bid premium. It is does go for just 22p then AMVESCAP and others will be out of pocket on a large proportion of their holding.

Pondy - I hope it works out for you.

I do not expect them to be taken out any time soon however.

Sterling still need to obtain clarification that there will not be any further downgrades in Chinguetti, they need Chinguetti 18 to actually work and produce around 10kbopd as advertised, there's not much else short term, and a buyer would want something else.

The GOM assets are nice for a GOM based firm but would any of those want the rest?

Doubt it.

Madagascar is a nice possibility, but that's too far away to make much difference in the near term.

I have no confidence short term, but have an eye on middle to long, but I still don't think I will come back here, other stocks are much less agro.

Good luck with your sb, I'll be watching.

I tend to agree. I opened my long after a day of high volume trading and high volatility which, I thought signalled the bottom and the start of better times. Wrong again! Having held SEY in quantity for a couple of years, I was like a drunk coming back for more. Today, there are much better prospects around. Looks like I'll have to get my money back somewhere else, but I might as well hold on for the time being. I truly don't think that it's going down any further from here - famous last words.

SWW - apropos your post on my charting thread, I can't see any signal. Its just bouncing around on its support level and needs to break and hold 19 for me to get excited. The only 'buy' signal I've seen recently is the repeated attempts by Shares mag to get it going - 'Screaming Buy' etc. Somehow I just don't see it.

Pondy you about hit the nail on the head.

I too was a drunk coming back for more.......... fido did me a favour in the end, his obnoxious posts made me eventually see sense, and examine exactly why I was interested in Sterling.

Well, I suppose I will always be interested but my money is elsewhere and doing a darn site better than this.

The bottom line is now Mauritania, which is holding Sterling back.

That place is the graveyard of 2 companies now if I include Fusion Oil & Gas, alongside of Hardman Resources.

I am not impressed, I held those as well as Sterling.

I am not saying it will do Sterling in, it is just impeding their progress.

I'm glad to have gone cold turkey on it.

Time to shut up!

I have held Sey for three years and have bought in and out from May.
What keeps me going with the stock is that
Amvescap own 20% of it and they seem to keep buying.
Any views.

They actually control over 29% of it. It is only the bid prospect that makes SEY interesting at the present time. The stake is being hawked around in the market at trying to find someone who might want to bid for the company. The current share price perhaps indicates that there have been no takers.

Pond life,

Whilst there is a story going around that SEY are being offered to the market, until officially announced, IMO, it is only a rumour, and the management seem to be carrying on with not only running the business as a going concern, but also checking out new licences in Cameroon, participating in new wells being drilled in Texas, buying into a low risk drill program onshore USA, and trying to obtain a PSC in Kurdistan.

I would rather SEY stay independent for a while longer, and have the potential to reap the benefits of Kurdistan and Madagascar.

I think some of the directors options are out of the money at this price, and AMEVSCAP may well be down too, so I cannot imagine a takeover being agreed at around this price.

"...Chinguetti production averaged around 27,700 bopd for October 2006, and is
currently around 23,000 bopd following significant disruptions to production in
November related to unplanned facilities shutdowns during the month........."

http://moneyam.uk-wire.com/cgi-bin/articles/200612050700072373N.html