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

Stuffed if I know stockdog.


Looks somewhat adrift again.

Don't understand it, can't get my head around it, wish it was better, but it ain't!

Chinguetti still looks crap to me and that's where the money is currently.

Tullow forecast average of 22100kbopd for Chinguetti in 2007

Funny how some see this as a recovery at Chinguetti, I recall one poster shouting around a figure of 32kbopd after the remedial well at Chinguetti 18, on here once upon a time!

Wrong!

There are other items of interest to Tullow holders in particular and a few more bits on Mauritania.

Have a read.

SWW,

A poster can only post what the company themselves are saying.

Was it you then?

I did not think so......

SWW,

No it certainly wan't.

I have reduced here.

I feel management are out of touch with the market's requirements, they need to reduce the amount of paper IMO.

The persistent problems at Chinguetti, though not SEY's fault, sadly don't look as though they are going to be resolved anytime soon.

Add on some disappointing exploration results, and I don't see the same prospects as i once did.

Neither do I unfortunately.

Same reasons you have highlighted.

Good luck wherever you are just now.

SWW,

many thanks, you too.

Actually, I am mainly investing in the Canadian and Australian markets now, they seem easier to assess value, and less of the AIM MM dirty tricks evident.

For those who do not go to advfn;

http://www.thewest.com.au/default.aspx?MenuID=32Hot oil frontier loses its charm

16th April 2007, 7:45 WST


The impoverished North African country of Mauritania once a hotbed of excitement on the back of the Chinguetti oil discovery has officially lost its lure as a frontier oil province of potential world-class significance in the wake of two years of dismal exploration results, difficult geology and political volatility.



The extent of Mauritanias slide from grace was highlighted late last month when big UK independent Premier Oil announced it would sell its basket of Mauritanian interests, including its 8 per cent stake in the Woodside Petroleum-operated Chinguetti venture.

Premiers decision to quit Mauritania makes it the second major company to exit the area since the start of the year, following the lead of its bigger compatriot BG Group which exited just three years after paying $US132 million ($158 million) for 12.5 per cent of Chinguetti from former Perth market darling Hardman Resources.

Speculation is now mounting that Woodside will soon look to offload its controlling 47 per cent stake in Chinguetti and other Mauritanian acreage.

A Woodside spokesman left the door open for a sale of its Mauritanian assets, telling WestBusiness that we continue to examine all options to maximise the value of our Mauritanian holdings. Hardman, which was snapped up through a $1.5 billion friendly takeover by Londons Tullow Oil in January, put Mauritania on the map in 2001 when the Chinguetti oilfield was discovered with the first well drilled by Woodside, which had been enticed into the project by Hardman in 1998.

After the first two wells at Chinguetti indicated a likely 100 million barrel oilfield, the Chinguetti partners quickly followed up with successful multi-million barrel discoveries at the nearby Banda, Tevet and Tiof prospects. Tiof alone is estimated to contain around one billion barrels of oil in place.

On the back of those discoveries, the Woodside partners accelerated work to develop Chinguetti with enthusiastic backing from the then government which was desperate to boost its flagging national economy.

But from that point the Mauritanian adventure ran into trouble. After an initial 90 per cent drilling success rate, the Chinguetti partners drilled a string of dusters at big oil and gas targets, with only the Labeidne and Tevet Deeps targets drilled last year generating significant results.

The Chinguetti project also struck early trouble due to runaway construction and input costs which ultimately pushed the final price tag from the initial $US625 million to more than $US750 million by the time it was completed in February last year.

In between, the then president of Mauritania was ousted in a bloodless coup, and the new regime immediately accused Woodside and its partners of securing its leases through improper dealings with the previous government. The matter was settled by the payment of an upfront $US100 million profit oil bonus and additional community and environmental management commitments.

But the wind was really taken from Mauritanias sails when output at the 70,000 barrels a day Chinguetti project halved just two months after production began due to the failure of two key production wells and greaterthan-expected reservoir complexity.

The projects reserves have since been slashed to just 53 million barrels with output running at just over 20,000bpd. In January Woodside started work on the first infill well in a $100 million-plus program to incrementally improve field recoveries.

The broader potential of Mauritania has also suffered with the failure of the vaunted Heron-1 well drilled onshore in the same basin as Chinguetti by fellow Perth explorer Baraka Petroleum and its heavyweight Chinese partner CNPC. Viewed as a potential 400 million barrel target, the well intersected a thin, uneconomic layer of oil at a depth of more than 3.8km.

StockAnalysis author Peter Strachan agreed that Woodside was a likely seller of its Mauritanian assets.

Their experience at Chinguetti has been a pretty painful one they spent over a $1 billion to get that up and probably another $1.5 billion on exploration drilling all these fantastic structures but found zippo really, Mr Strachan said.

He said Woodside was most likely to seek a buyer once it had shown the infill drilling program at Chinguetti could boost production, proving reservoir complexity could be overcome.

JOHN PHACEAS

'The Eirozes-1 well has been drilled to a total depth of 2,252m. The well encountered Albian sandstones as prognosed. However, wireline logging has beencompleted and indicates the well has not encountered any significant hydrocarbons. The well is now being plugged and abandoned.'

Well, with so many sells of some size, the SP has held up well today I reckon.

Can someone tell me is SEY's 5% interest in Guinea Bissau carried or to be paid for?

Carried

been away for afew days see nothink as changed,sick company,

If you think it's so sick TANKER why do you continue to waste your time following it and passing comment?

Same comment can be made for the postings from several posters queen. Sometimes I also wonder why some feel the need to post how bad they think it is at SEY and rarely a mention as to the potentialy good prospects we have in SEY.
I hold SEY and am hopeful of a good result but I know it is risky and don't need to be continually reminded of it!
opto

why does one have to add to hype when so many would do well to take a good dose of reality .... if they did so, they might save themselves a lot of grief and, of course, money .... a mate of mine observed correctly today on this same subject, "If you had the same 1,000 or 10,000 or whatever, would you invest in this same share today?" .... does one need to continue?

Well even at the current price cynic I've doubled my money so please tell me what dose of reality I'm in need of?

if you have doubled your money, then you must have held the shares since mid 2003 and you could/should have taken at least some profit when sp was at 20 a couple of times on the way up but failed to break, and certainly at 32 or thereabouts as it started to tumble, or at least when it hit 20 again and crashed through - no doubt a few other key levels too ...... certainly nothing to boast about now sp is langishing at the current 16 ..... dose of reality = accepting that when a stock starts to stink, it stinks and it is nearly always better to excise the gangrene than to hope that the patented snake oil will cure it ...... and i would still say to you, that it matters little whether or not you have doubled your money or halved it .... the comment at the end of my previous post holds much truth.

And then others just post here because it's a free bb!

If you don't want to read anything I post, use the squelch facility.

Meantime reality is real, optimism is not out of place either.

Oh there is a live web cast this Thursday from Sterling, no doubt coinciding with the results and my feeling is that they are not doing that just to have a bit of fun live on air.

Maybe Kurdistan has made a little movement in their favour?

Click here at 7.50pm Wednesday to listen

thanks and quite so SeaGoon

cynic - I wasn't boasting (although if I managed to double my money on every share I purchased I'd be a very happy individual). Compared with the heady heights of 32p the current SP could be seen to be languishing as you say but compared with the 7.5p I originally paid it still looks pretty good. And why would you assume that I hadn't sold part of my holding somewhere on the journey up to 32p and back again? That smacks of assumption and arrogance.