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

No and is in effect what the Kurds were asking for. Revenue will be distributed as per population. The main thing is that it allows Kurdistan/Iraq to move ahead with its plans for oil.
PS. Petrel resources has already felt the benefit of the near signing of the law and Sterling will follow once its becomes clear that a PSC is on the cards.

As a PS to my last post, there were rumers of a Sterling link up with Petrel Resources. While I think that is possible at some stage in the future, reaching agreement on the new oil law certainly makes it possible. Agreement also means that Sterling can negotiate deals with Baghdad as soon as the time is right but I think that Kurdistan is going to be the main bridgehead to begin with.

Whats good for Petrel is good for Sterling, see below:


Possible reason for AIM listed Petrel Resources/PET taking off this afternoon?!?!?



barkerman - 21 Dec'06 - 14:21 - 56056 of 56057


David Horgan
Sent : 21 December 2006 13:02:56
To : "peter barker"
Subject : RE: Happy new year

| | | Inbox


Many thanks for your kind wishes and support.
With the Iraqi Petroleum Law due to go before Parliament on 7th January,
hopefully 2007 will be a breakthrough year!
David

Well fido, your posts have worked, or at least the Reuters links have.

Well done, lets see how far and if this goes.

Gloat please.

Sterling Petrel link up?

That's been said before about 3 years ago.

Could be, except if you recall the item I found from the BBC about an interview with David Hogan, he said that, (words to the effect that) any Co using men and equipment in Kurdistan would not be considered etc.......in Iraq.

Unless this Law is effectively an entente cordial?

"(words to the effect that) any Co using men and equipment in Kurdistan would not be considered etc.......in Iraq."

This is why agreement is such good news. Before there was sabre rattling with the Kurds threatening to quit Iraq and Baghdad saying the above. Agreement now means that Sterling can negotiate deals throughout Iraq with a link up with Petrel possible because of the links between the two companies. As I said before the important thing is the hard talking is coming to an end and we can look forward to Jan 7th and the PSC announcements.

Okay.

Understood.

Well, the trades indicate that even though most of the big boys are away, they are still active, some large trades going through.

I also suspect the mm don;'t know what's going on, they are trying to hold the price back.

Well that was an exciting end to the day.

42m so far reported.

It will be intersting to see what, if anything transpires tomorow?

Petrel finished up nearly 17%.
A sign of things to come for Sterling.

Looks like SEY is on verge of a breakout....imo

i no longer hold, but certainly it is encouraging to see sp jump through 50 dma level.
may be some resistance around 19, though that assumes present modest strength is maintained anyway.

Word must be leaking out that they have found oil!

or just a bit of lemming money hopping on board in hope rather than actuality

Cynic, I have noticed using the 3 month period on the chart that the red and green line gap are narrowing and set to look to cross over over next few sessions. I dont know how to paste the chart to show.

50 and 200 dma are still relatively some way apart .... see above.

easy to paste charts .... assume you knwo how to get into them ..... just highlight the gobbledegook below it, press control+c and paste in here (control+v)

Thanks, well I just use the standard settings for my research and you can see the gap is much smaller.

personally, i do not set much store by 13 dma for purposes of judging golden cross or similar ...... believe 50 + 200 are much more important

as a deal been done ,

Looks more and more like a breakout coming at last.

And this without remedial well at Chinguetti 18 being spudded.

If Chinguetti 18 is successful it will go back mid 20's imo.

Again, if fido is right about Kurdistan, and the signs are there, (read this) then 30's would not be out of the question if they have stuck a very good deal, especially as Iran Production is apparently in significant decline.

SWW,

The article appears to ignore the fact that the Iranians are receiving many times what they were previously for their oil, so even though production may be declining, revenue will be less so.

Iran will of course need to invest in new infrastructure sooner or later, my guess is there will be unrest sponsored by the US before too long, possibly after a military strike against their nuclear facilities.