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

Thanks - poo! Intrigued by your sell winners and hold losers philosophy.

.

Stockie - let me ask you a question, if you thought the recent Sterling acquisition was such a good deal, why are you thinkiing of selling?

perhaps he's noting that the market is unimpressed by the latest news and also that small E&P companies are not the best place to be at the moment while crude prices continue to weaken

I'm thinking of selling because I have developed a personal preference for non-oil sectors where I am doing better and feel more confident. That said, I still think SEY's acquisition is a good deal for SEY. These two ideas are not mutually exclusive.

Cynic, when you support anything you say with any research or evidence of any kind it will start to carry more weight than mere opinion.

Perhaps the veiled hostility on this thread from those who think they own it is reason enough to sell. I like to enjoy making money as well as just making it.

stockdog ...... i care not one iota if you follow what i suggest or not ..... i rarely research; not my idea of fun and am happy to leave that to others whom it excites .... for myself, i tend to follow trends and that has served me pretty well, and continues to do so ..... hence, have put money into ICI, RTN, DOM, SHP, Gold, SSL etc and shorted BFC ..... of course I also have my share of stinkers like VOG and CHP and GOO, which I fondly though perhaps vainly hope will show profit in due course, as similarly with CSR and BUR (much more likely).

As for SEY .... well i recollect making money from this share in the past, but cannot get at all excited about it in the prsent climate.

By the way, i guess too much research led plenty down the worse-than-blind-alley of the likes of PRTY and SEO.

stockie - don't point fingers, it's not polite!

I think Sterling is a great Company in the making, I just don't think i will live long enough to see it, so who ever wants it can have it and good luck. You have been here as long or nearly as long as me, and my patience has run out, so has yours it seems.

New holders may want it for another 3 to 4 years but unless they get a real grip, those holders may well be in the same boat as me and you later on, but I will be elsewhere then!

As far as hostlity goes, honest is often hostile because people won't listen uless it suits them.

It is quite clear that Mauritania is is severe difficulties now, Hardman sold out, BG, sold at a 50m loss. ROC don't care with average 4%. USA may be the new Company maker, but lets face it Mauritania was too, and here we all still are, still waiting..........................

I think they paid too much for acquired assets at a premium in USA it could well pay for itself, and it is on the face of it a good deal but at a premium.

Sell up and move on, or take a loss if you have to, it's your choice.

I have been trading this co, for a while now as the range is predictable, and I may well continue to trade it, but LTBH?

Forget it!

You have developed a personal preference for non oil sectors?

How come it took you so long?

I did the same and just did it but I also have been honest with myself and sold up because some of the stocks are lame ducks.

cynic - you rarely research?

Speaking as one who does often research, (too much), I think that yours is the best approach.

And if I am fair, fido does sell the company well with his research.

Those who like to know in absolute detail all of the possible ins and outs would do well to read his posts thoroughly.

This does not mean I want to be his drinking buddy any time soon however.

SWW .... if there was a sure-fire way of making money by using research or momentum or charts or whatever, then we would all be retired somewhere warm! ..... i certainly do not ignore others' research; it's just that i am too idle and too stupid to be able to do it myself

Why the lack of interest in oil and oil related stocks? Sure the returns over the last year have not been the best, but it depends at what price you are buying. Over a period of 3 to 4 years there are not many oil related stocks that I have lost on, and there are many you would have more than doubled your money on. Most companies are moving ahead with their plans and there will be disappointments on the way,but their share price is a punt on where the oil price heads over the next 2 years. We know demand will rise steadily, but what of supply? Over the longer term the oil price can only go one way imo.
One sure way to lose money is to follow the herds into fast rising shares unless you are a short term speculator. Far better to wait until the herds have lost interest and the shares have plummeted usually on no news, or lack of interest imo...or be there before the herd. I am more than 40% weighted in oil and energy related stocks at the moment, as I am concerned aboubt debt in the Western world and the lack of growth there. Asia is a different story.....
Many oil stocks have good asset backing and are on low forward PEs, oil service stocks are growing fast and many very profitably, but you do need a spread so that gambles on the more speculative stocks are just that...money you can afford to lose.
If we have seen the oil price bottom for the moment the herds will be chasing the shares again soon and we can take some more profits!
Not the time to be pulling out imo, but do your own research. As always though it is a gamble!

buy buy, excellent news ,26p for sure soon,

Oilbarrel

"23.01.2007
Sterling Energy Strengthens Its Production Base Significantly And Can Fund A Greater Level Of Exploration Through A Neat Takeover
The recently announced takeover of US NASDAQ-quoted Whittier Energy Corporation by London-listed Sterling Energy seems to tick all the right boxes. Sterling is paying US$145 million (approximately 74 million) plus the assumption of an estimated US$43 million (approximately 22 million) of debt for the entire issued and about to be issued share capital of the US gas producer.

The purchase is to be funded from approximately equal amounts of existing cash (Sterling has around US$80 million in its war chest, it is thought) plus new equity and debt. For this purpose 26 million (approximately US$50 million) gross has been raised through an institutional placing of 163,250,000 new ordinary shares at 16p a share and a new US$100 million debt facility has been arranged with Natixis.

Yes, Sterling is paying a premium of 26 per cent to the closing price of Whittier on January 18th 2007. And, yes, a value of US$15.8 per boe (US$2.6 per mcfge) of proven and probable reserves, which might seem a trice on the high side, has been arranged. But there is hardly any dilution (Sterling's market cap is around 225 million) and the benefits of the takeover can hardly be gainsaid.

Sterling's current production will almost double from 3,400 boepd to 6,500 boepd. 2P (proven and probable) reserves are estimated to increase from 12.9 million barrels of oil to 24.8 million boe. Annualised cash flow from operations is estimated to rise from US$35 million to US$80 million.

The key point, however, is one made by Sterling's CEO Harry Wilson, namely that the Whittier takeover de-risks a large part of production while significantly increasing the scale of cash generation and allowing the company to build its portfolio of exploration projects.

Sterling's current production comes from offshore the US in the Gulf of Mexico and from the underperforming Chinguetti field offshore Mauritania. Sterling will wash its face from the investment offshore Mauritania, but it has thus far not been the cash cow once envisaged. Whittier's production is onshore in the US and therefore lower risk than offshore the US and Mauritania.

Whittier operates over 50 per cent of its reserves. There is a programme of near term exploration projects with substantial upside in train. Over 40 low risk wells are planned. This complements Sterling's own 2007 exploration programme, which together with Whittier, means the group is targeting 60 million barrels of oil equivalent.

Harry Wilson and his team of executives, who have been together a long time and have built other companies in the past, have never made any secret of the fact they do not want Sterling to be just a cash flow business based on accumulating production. They want the big step ups exploration - including frontier exploration - can provide as well. Chinguetti did not quite fit the bill, but there will be other forays to make new discoveries."

as usual, a well written article from Oilbarrel ..... but still no compelling reason to buy SEY at this moment, though that could change some time in the future ..... surely at least 12 months off, and quite probably a lot more

New kids on the block.

No doubt one of the placing beneficiaries.

Sterling Energy PLC
26 January 2007




Sterling Energy PLC (the 'Company')
Holding in Company


The Company received a notification on 25 January 2007 from MassMutual Financial
Group on behalf of The Massachusetts Mutual Life Insurance Company
('MassMutual') that, as at 22 January 2007, MassMutual's subsidiary
OppenheimerFunds, Inc, had an interest in 60,000,000 ordinary shares of 1p each
in the Company ('Ordinary Shares'). This interest represents approximately 3.83
per cent. of the issued ordinary share capital of the Company, being
1,566,200,558 Ordinary Shares.

Were they holders of Whittier by any chance?

Just noticed in today's FT Directors dealings and not previously posted here, 4 Directors, Harry Wilson, Graeme Thomson. Andy Grosse, Paul Griggs each bought 150,000 at 16p as part of the placing on 18th Jan. At least that shows confidence in the future!

Reading between the lines, are Woodside planning to get out of Mauritainia?

See comment re LNG

i was informed that news was due on this pile of shit now it is down to less than 16 p who is running must be useless,

Can't argue your assessment.

I do not understand why the sp has ended up down here at 15.5 pence, but there it is.

The consoling point is that Institutions and Management own over 50% of the shares so that sp can not last long imo.

I bought back in tradig stock briefly recently only to sell shortly after as the price of oil fell, the two are linked no matter what some may think!

There are better stocks out there.