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

In which case the institutions will have caught a cold.

I'll leave the cod alone, it's having enough trouble trying to avoid being caught and eaten.

Bad luck then Tanker.

avg 16.86p

if you really 220k of them, that's still plenty of exposure to a dodgy outfit when 1p in either direction = 2200

As averages go with this stock, I know of some in much worse positions with Sterling shares, not that that will matter to you.

You average indicates entry either some time ago, or very recently, which is it?

FWIW I think the spike last year was driven by a PR machine and was completely unwarranted given that Chinguetti had yet to be tested when the first signs on the spike occurred.

We all know what happened there, and if I may say so, this board indicated early problems there as having a detrimental effect on the sp.

If you were not aware, PMO recently stated that production is 22kbopd on an average for 2006 a far cry from the figure touted as 75kbopd.

PMO are going to sell up all of their Mauritanian interests I see from their prelims. BG already recently sold out at a loss to the purchase price, and writing off production and exploration costs, Hardman sold themselves because they could not cope with the increasing costs of Chinguetti, way back in 2003 ENI and Agip sold out before development of the wells, I wondered why then, seems we have the answer now!

Barkara 2 weeks ago reported that their maiden hole in block 20 was an non-commercial HC find, Dana dug 3 dry holes, it don't look too promising in Mauritania does it?

The plus side is that Sterling has a free carry, and therefore free money taken at the gross sale price even if that is diminishing. Now lets turn to Chinguetti -18.

It has been drilled and will be brought into production imminently, good!

When originally drilled the figure touted for increased production was 10 to 12 kbopd, now I see from PMO's prelims they estimate 8 kbopd. Why the drop or are they being conservative?

More field problems?

Okay initially it may well do better than quoted figures, but I have a sneaky feeling it wont last, in any event the best that the JVP can hope for is 34kbopd at peak till more remedial wells can be drilled, meantime all these extra costs and the JVP who are paying costs, are sill to beak even, one year later.

Sterling have been very wise buying Whittier Energy a shame they had to issue yet more shares in the 16 pence placing. It's no wonder the sp has languished at that level than for such a long time.

No one can say if it will go up soon and by how much, or for that matter down and by how much even if the chart shows an incomplete head and shoulders now with the final down leg yet to go, that may not happen if a positive news event happens.

The future may well be bright with other ventures, but they are not happening yet, but don't look to Mauritania to do anything any time soon.

You can keep it!

Lead picture article on Business Section of yesterday's Times is all about Iraq/Kurdish oil fields and mentions SEY. Seems to be yet another headline saying "close to resolution of oil rules" with Kurds being independent subject to ratification by Baghdad - same old story.

SWW - as far as the chart goes you could as easily be looking a the right hand neck of an inverted H&S.

I've been in since Sep 2004 at a tad over 16p average, inclusing swapping in and out at a few pennies gain at one stage. I'm truly bored of O&G and much prefer trading profitable companies in tangible goods and services that I understand. Contemplating liquidating all my O&G stocks - CHP, FOGL, EEN. Why oh why did I not sell EEN and FOGL at last spring's ridiculous peaks!

SD .... i too hold CHP (but not the others), but as it is a fairly modest holding, along with similar in GOO and GTL, i shall prob stay put ..... DOO almost falls into the "rubbish stockpot" too, but that is starting to come to life, and in fact i think i am just about in the money ..... by the way, someone suggest i should short EEN (to keep my BFC short company), but i don't understand why sp fell out of bed in the first place

Hello stockie, liquidating O&G?

I have over the most part, leaving now just a couple, I'm happy not depending on the bit of luck with the drill bit to either make or lose a fortune according to the slant of the luck.

I have always felt a bit miffed at this one, (Sterling), held all through the sector rises on the back of the price of oil, this one did nowt!

The spike was nice but unsustainable then, and oh yes Kurdistan may do something, it may well be what is needed here.

I keep looking at some of the oil & gas "dead certs" that were "no brainers" to succeed, SEY, AFR, PRE, PANR, EME I could go on, where have they all ended up?

For the most part, in disaster land for holders.

You need balls of steel to stay with some of these nowadays, and my balls have shrunk through years of fear already without this, (hung up from my old job), so it's off to the lunatic asylum again for me, I need a little but of strong medication.

Oh sod it, Riesling will have to do.

Please excuse my occasional ramblings on once trusted shares, I can't help it while reminiscing, plus sometimes I want to be nice to people, the trouble is my conscience gets in the way, (but then so does the occasional idiot, present company excepted of course!).

good riesling whether new world or mosel or rhine is wonderful stuff and interesting varied; don't knock it! .... as for needing balls of steel to keep holding most of the stocks you mention, it's actually brain cells you need to know when to cut your losses and go elsewhere

And while I am waiting for my seawallwalker minors to come home, have a look at this thread.

http://www.moneyam.com/InvestorsRoom/posts.php?page=3&tid=11131

How many little oilers are in there?

BTW GTL @150????

So the locals have sussed that they can up the price of corn then and screw the boi makers once they have built the refineris then?

Nasty lot!

Bugger the Mexicans, they can't afford to make corn bread any more either. Don't try to invent bio fuel from beans of they will have had it and so will Mr Heinz.

Brain cells is right!

I have a nice Riesling tonight, gone off chardonnay a bit of late.

Pleasant evening to you cynic; Cheers.

Take AFR off that list I still hold them!!!

They are a geat company.

(Arf arf.....)

Gawn Nah!

hi m8! .... nothing special on the wine front for me tonight (polish off the rest of some 2003 Givry, which is a slightly odd combo), though have made a very tasty fish pie; lamb + prune tagine for tomorrow night already done ..... have some quite good 1999 Oz Shiraz i may try with that .... by the way, have you got vouchers to make use of the latest Thresher's 40% off deal on except champagne and similar?

I supposed it wa cheap at 33p!!What is the target price?

Morning cynic, the 99 Shiraz sounds good. I find real bargains at the back of supermarket shelves because most refill from the front and don't rotate the wine.

I have sent he Threshers deal, unfortunately my "Local" does not carry much of interest, but I do tend to be a bit fussy.

ahoj, it was far from cheap at 33p the first time around.##

Target price now is anyones guess.

If I could be patient for another 3 to 4 years, which I can't, it may do just fine and dandy, I don't see much on the downside from here because I daresay someone will buy PMO's share of Mauritania for a song, but the royalty deal will still be there as will that between Sterling and the Government.

The way I see it, in respect of Mauritania, things can only get better, there's nothing wrong with the rest of it at all, quality potential, quality assets and quality management.

An upturn in the price of oil would do some good without positive news.

best buys at Threshers are among their (few) more expensive lines and Alsace which few buy .... for myself, i never buy from supers, but generally buy wholesale

Hi cynic, thanks for that, I'll pop down the road now and see if they have any.

If nowt else there quite a bit of eye candy as well as nice looking at the wines.

_


There potential, that's the word, my English Teacher wrote; "An intelligent buy who has failed to realise his true potential"

Buster Barnes, he was right then, but he could not have foreseen that I would retire at 49 years of age with a pension that keeps me in the manner to which I had become accustomed.

The point; A nice little company that has yet to realise its full potential.

I think it will one day.

Ah - the old days, swapping recipes on the SEY thread!

will happily do that as i cook for a hobby

we need a new management to get this going .