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

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

We have had two pieces of seemingly bad news today, so why has the SP been up most of the day. The answer is that in both cases the news is historic and they are out of the way. People on this board have constantly asked why when there has been heavy buying of Sterlings shares over the last few months that the price did nothing. The answer is Westmounts selling of 40 million shares. Westmount is an investment company and would have had no regard to Sterlings prospects. When the problem of Ching started they would have made the decision to sell regardless of future prospects. They gave the MM`s the OK to sell 40 million on a protracted sale over all this time and so all the buying that has taken place has been against a 40 million overhang, and that is why the SP has done nothing. The good news is that the announcing of the trade means that it is now complete and normal buisiness can resume.
The other bad news is the 23,000 bopd at Ching. Again this is historic and shows that work is being done on the field in preparation for drilling of the first remedial well due to spud shortly.
Both these pieces of news will have been known by the MM`s and explain why the SP has been weak. With this news out of the way the SP has shown some sign of relief and may now factor in the better news on its way.
Going forward we have the remedial drilling and works that will lift production at Ching back up again in the very near future.
You also have a congress vote today that may open up more areas of the GOM to drilling and will be of most benifit to Louisiana.
In december you have the spudding of the Thunder Stud well in Louisiana. This will target 133 million cubic feet if gas, with 30 million net to Sterling. As I said before Louisiana is becoming a powerhouse for gas and oil and Sterling are going to see huge benifit.
More importantly I am expecting news of a PSC for Sterling in Kurdistan in the near future as most all of Kurdistans demands seem to have been agreed by Iraqs Federal government-see link below.
Hopefully we have now seen the floor and with the Westmount disposal being taken up by other institutions that have more a mind for the future, we can look forward to better times.

http://www.kuna.net.kw/Home/Story.aspx?Language=en&DSNO=930179

Fido,
Surely the Westmount sale is very old news. I seem to recall an RNS about this early on in the year when the SP was starting its rise.

I did say that the news was historic, but the point remains the same.
It is now time to look forward not back.
Ching should now be on the increase.
GOM is powering ahead.
Kurdistan is near.
Madagascar will follow.

It is very old news.

http://moneyam.uk-wire.com/cgi-bin/articles/20050930113200Z2326.html
"Amvescap PLC


FORM SAR 3

DISCLOSURE OF ACQUISITIONS

(Rule 3 of The Rules Governing Substantial Acquisitions of Shares)


Name of acquirer AMVESCAP PLC
--------------------------------------------------------------------------------------------------------
Beneficial owner, if different from above DISCRETIONARY MANAGED CLIENTS OF AMVESCAP

--------------------------------------------------------------------------------------------------------
Names of any other persons acting by
agreement or understanding (see SAR 5)
--------------------------------------------------------------------------------------------------------
Company dealt in STERLING ENERGY PLC
--------------------------------------------------------------------------------------------------------
Class of voting shares (eg ordinary shares) ORDINARY 1P
--------------------------------------------------------------------------------------------------------
Date of acquisition 29 SEPTEMBER 2005
--------------------------------------------------------------------------------------------------------



Number of shares acquired 40,000,000
--------------------------------------------------------------------------------------------------------
Number of rights over shares acquired #
--------------------------------------------------------------------------------------------------------
Nature of rights over shares
--------------------------------------------------------------------------------------------------------"

However Westmount still hold 30 million shares.

I can see why fido has referred to it, as Westmount only refer to it today in their finals for the period ending June 2006.

Westmount finals.

"WESTMOUNT ENERGY LIMITED

PRELIMINARY RESULTS FOR YEAR ENDED 30 JUNE 2006


The Board of Westmount Energy Limited, the Jersey, Channel Islands based
independent oil and gas investment company ('the Company') today announces the
preliminary results of the Company and its subsidiary ('the Group') for the year
ended 30 June 2006. Highlights are as follows:


Turnover from discontinued operations in the North Sea 1,118 (2005:
137,925).

Profit before tax of 4,759,631, profit after tax 4,292,357 (2005:
Profit before tax of 485,867, profit after tax 461,362).

Basic earnings per share of 57.19p (2005: 6.14p).

Diluted earnings per share of 56.20p (2005: 6.14p).

The results for the year ended 30 June 2006 include the surplus realised
on the termination of the Group's overriding royalty interest relating to
Licence P241 North Sea amounting to 1,706,201 and the profit realised on
the disposal of 40 million of the Company's shareholding of 70 million
Ordinary Shares of Sterling Energy plc amounting to 3,189,999."

Isn't it lovely to keep wearing rose tinted spectacles in this garden.

Never mind the real world.

The real world consists of the constant noise of drilling in the GOM, to be followed by Ching and Kurdistan. All will be filling the coffers of Sterling with very real millions.

Good because Sterling holders need some luck!

You write good stories, just so long as people are able to weigh up all of the facts, that's fine.

Thank you for convincing me this ones is not worth my money.

Got anyone elses posts removed from iii lately?

As one of the main points I raised in my last post seemed to have been missed, I will point out the following headline. This points to all issues having been agreed. All parties have said that PSC`s will be announced when the law gets signed, so we do not have long to wait:

Iraq PM says oil law ready to go to parliament Noozz.com 16:52

fido,

Good point, I believe SEY will be one of the first companies to sign a PSC as soon as the law is passed.

SEY have played a part in the drafting of the Kurdistan oil law, and I believe they have built a relationship with the Kurds already.

SEY are due to open an office in Irbil soon, so they must anticipate doing some business there!

Good information Andy. As SWW says, we could do with some luck, or some information to change sentiment with this stock.

Thought I would bring this back to the top.

I am begining to think that if it hits 16p, then some may call the following a bargain opportunity.

Anything below 16p means 14p level beckons imo as the next support level around 14.38p.

A good few PI sells today indicate that without positive news, that's where it will go.

SWW,

I have to agree that SEY is in need of some decent news, or management to address some of the easier issues, such as consolidating the shares, or maybe a buyback, as they have permission to do one, and plenty of cash in the coffers.

I have reduced my position recently, not because I no longer believe, but I am so fed up with being stuck in this trading range whilst other stocks on the watchlist are rising.

Hopefully we will see positive news soon, I have been in SEY a long time, and still think they can be a success, but management need a wake up call IMO.

Andy it was the price range that stuck that done me overall.

As you know I was here before as you were, and I did not want to be here again whatever may be in the cupboard.

Oil is now $63 a barrel and it goes down.

This has to go positive, I just can not believe what's happening.(well I suppose I can really, I don't want to believe it).

Right, time for fido post methinks............

I sold up. Had enough. It had better prices before oil went up.

Computer problems and work commitments have kept me off this board for a few hours. but here is some quick pieces of news.
In the last couple of hours, congress have approved a bill that will open up more areas of the GOM for exploration.

http://www.kxan.com/Global/story.asp?S=5789795&nav=menu73_2_2
In Kurdistan, while the debating continues, the prospects in the ground look better and better.

http://www.rigzone.com/news/article.asp?a_id=38955

I had a look at Petrels results, and the only thing in them that would have caused their sharp rize was the proximity of the signing of the oil law. Negotiations between the Kurdish and Federal government have stalled and will resume in the next couple of days. Both parties are commited to the law being in place by the end of the year but their is still some tough talking to be done. The Kurds are adamant that they will not allow federal influence in the oil decision making process in Kurdistan. There stance is guaranteed in the constitution and although they are willing to discuss it they are not prepared to relinquish that right, as seen below.

The KRG - which estimates its resources total 45 billion barrels of oil equivalent - has already drafted its own hydrocarbon law that officials there say would trump Baghdad's version should the KRG not win at least the measure of authority over its resources it's seeking.

The Kurdish authority has already signed agreements with several small oil and gas companies, including U.S.-based Calibre Energy Inc. (CBRE), Norway's DetNorske Oljeselskap (DNO.OS) and Turkey's Petoil and has signed memoranda of understanding with Australia's Woodside Petroleum Ltd. (WPL.AU), Canada's Heritage Oil Corp. (HOC.T) and the U.K.'s Sterling Energy PLC (SEY.LN).

To see the importance of Sterlings Louisiana pipe networks, thake a look at:

http://www.kbtv4.tv/news/default.asp?mode=shownews&id=13195

To see the importance of its gas, have a look at:

http://houston.bizjournals.com/houston/stories/2006/12/04/daily51.html?jst=b_ln_hl

I hate to say it but this is very good information.

Nothing specific to Sterling but still very good.

More background info on Kurdistan:

http://www.nytimes.com/2006/12/09/world/middleeast/09oil.html?_r=1&oref=slogin