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

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

A bit from the CEO in the 2006 ints:

Harry Wilson, Chief Executive of Sterling Energy Plc, said:

'Our position continues to strengthen with a now sizeable and growing cash
position and an active and largely carried exploration portfolio. We have seen
excellent progress on some potential high impact projects. Over the next year
we have 8 wells planned, any one of which could be significant. Alongside this
activity, we continue to seek new drilling opportunities and production
acquisitions that can bring significant upside potential to the Group.'

optomistic,
While it is still the companies intention to seek aquisitions and new licences, the company continue to refer to high asking prices. More significant was when they said that if none could be found at the right price, then the money would be used for internal projects. My view is that this means Kurdistan.

http://www.newspress.com/Top/Article/article.jsp?Section=WORLD&ID=564855085218530682

Posted by poobaa on advfn

(Starts)Posted Dec 9, 2006

http://theamericanmuslim.org/tam.php/features/articles/the_final_american_coup_in_iraq/0012217

"The American plan, now to be imposed willy-nilly on the peoples of Iraq by the passage of a new oil law within the next three weeks,....................

......... The only remaining issue is whether the Kurds will lose control over contracting with foreign oil companies over future oil exploration and production. The Kurds recently discovered two new oil fields after signing exploration contracts with a Turkish company and a Norwegian company. American officials are trying to convince the Kurds to give up such regional autonomy by arguing that a national oil law could attract more foreign oil companies to exploration and development in Kurdistan. Specifically, A large foreign oil company would have more confidence in signing a contract with the Kurds if it were to operate under the law of a sovereign country rather than just the law of an autonomous region.

Far from in the bag then!(ends)

SWW,

I never thought it was personally.

Clearly the US wants it's multinationals to benefit here, rather than foreign juniors such as SEY and the Norwegians, so will be spinning their hype to benefit themselves as usual.

I am watching with interest, because clearly the kurds want to go it alone, and the US have to tread carefully, so cannot support the national government of Iraq (that it has created itself) , if it invades Kurdistan.

Without the threat of force being used, it's hard to see a compelling reason why the kurds need to comply IMO!

I think they will try and form their own autonomous governement, and try to retain the oil revenues for their own people, one step closer to independence.