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

Certainly not good value.

thanks again seawallwalker.
i won't bother then!

Thunder Stud well news from 14th May, at:

http://sonris-www.dnr.state.la.us/www_root/sonris_portal_1.htm

Go to 'SONRIS Lite' and then search by 'Well Number' 234806

Found it but what does it mean aa? I don't understand it.

Well lined after wire-logging.. why?

Well.......I don't think they would line a duster. (Then I am not even sure about that! I don't know much about drilling, I just have a few oil shares) Thanks aa

All will be revealed........tomorrow I expect!

2006 PRELIMINARY RESULTS

STERLING ENERGY PLC

2006 PRELIMINARY RESULTS

CONFIDENT OF GROWTH

Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas exploration
and production company operating in Africa, the Gulf of Mexico and onshore USA,
today announces its 2006 Preliminary Results together with an update on progress
and outlook.

2006 HIGHLIGHTS:

Revenues up 226% to $81.0 million in 2006 from $24.9 million in 2005

Entitlement sales increased in the year by 172% to an average of 4,400 boe/d

Gross profit up 73% to $26.6 million

Net cash flow from operating activities of $62.3 million (2005: outflow
$13.6 million)

Operating profit before amortisation, depletion and impairment provision was
$56.2 million in 2006 (2005: $11.6 million)

Operating loss of $46.8 million in 2006 (2005: profit $3.0 million) after
non-cash charge of $57.3 million for previously announced Mauritanian assets
impairment provision

2006 profit before tax and impairment provision was $13.4 million compared
with restated 2005 equivalent loss of $13.3 million


2007 ACTIVITY AND OBJECTIVES

Placing to raise 26.1 million before expenses (c.$50 million) and
short-term bank facility of up to $100 million completed

$145 million cash acquisition of US based Whittier Energy Corp. ('WEC')
completed in late March 2007. WEC has drilled 7 successful wells so far in
2007 out of 8 drilled

WEC deal increased Group 2P reserves by over 90% to c.24.5 million boe from
their end 2006 level of 12.9 million boe

Operator estimate of remaining Chinguetti 2P field reserves increased by
34% to 51 million bbls from Sterling's end 2006 total. C-18 well drilled
and brought onstream

Current Group production of over 6,000 boe/d, an increase of 88% from the
first quarter 2007 level of 3,200 boe/d

Record number of wells planned for in the next 12 months, with over 35
wells in the USA and at least 4 in Africa. 2007 Guinea-Bissau drilling was
unsuccessful. License extension recently granted on Iris Marin, Gabon with
commitment to exploration well

Dr Richard Stabbins to become Chairman at the AGM following the decision of
Mr Richard O'Toole to retire

Current unrestricted cash of c.$35 million, undrawn bank facilities of
$14 million and bank debt of $140 million

Objective is to add to producing assets and near-term developments,
participate in international licences and drilling programmes that, if
successful, would add materially to the Group's value



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

'The production from Chinguetti in 2006 was disappointing, but with the $145
million Whittier acquisition completed at the end of March 2007, this year has
started very well. We now have a stronger financial, operational and strategic
base from which to grow and I expect a sizeable increase in production cash flow
over the next year. 2007 will be our most active drilling period ever and I look
forward to seeing the upside unlocked in our assets. We plan to continue our
growth both organically and through acquisition while recognizing that the
competitive environment requires an innovative approach.'

"Sterling FY profit hit by charge from lowered Chinguetti reserves
AFX


LONDON (Thomson Financial) - Oil and gas exploration and production company Sterling Energy PLC reported widening full year losses as the company took a charge for lowered reserves at its Chinguetti project in Mauritania.

The company reported a full year pretax loss of 46.7 mln usd, from a loss last year of 16.4 mln usd, hit by the Chinguetti impairment charge of 57.3 mln usd.

Revenues however rose 226 pct to 81 mln usd which largely reflected the start-up of production from the Chinguetti field.

The chairman Richard O'Toole announced that he will be standing down at the company's annual general meeting, and will be replaced by Richard Stabbins.

Looking ahead, Sterling said it plans to step up its programme of drilling in 2007, with 25 wells planned for the USA and at least four in Africa.

Sterling said it expects a 'sizable' increase in production cash flow in 2007, which will be used to fund the drilling programme.

Increased cash flow is seen coming from the company's recently completed acquisition of Whittier Energy Corp, and it also said it will seek to refinance the debt incurred from the acquisition.

In 2007 Sterling has also participated in the c18,000 ft Brown 1 well ('Thunder
Stud') and which has reached target depth, has recently been logged and is being
evaluated.

To date in 2007, WEC has participated in the drilling of nine wells with seven
successful, one dry hole and one currently being evaluated.

The market is as unimpressed, as I am.

Looks like a placement coming to clear the dbt from the Whittier deal.

......Increased cash flow is seen coming from the company's recently completed acquisition of Whittier Energy Corp, and it also said it will seek to refinance the debt incurred from the acquisition.

Borrowed from a post by 'fido' on AD---
Someone likes SEY:

Dolmen Stockbrokers - 16 May 2007
Todays Recommendation
Sterling Energy (15p) Cash profit quadruples Stuart Draper
Target : 28p (24/08/06 ; previously 34p, issued 17/05/06)
2006 results : This morning, Sterling Energy announced its
results for the year ended 31/12/06. The results showed very
strong year on year cash flow growth, with the companys 2006
cash operating profit (EBITDA) of $56.2m representing a more
than quadrupling on the 2005 comparative of $11.6m. This was
12% stronger than the consensus forecast for 2006 EBITDA of c.
$50m. With this group EBITDA expected to grow to c.$65m this
year and to c.$75m in 2008, there is major upside potential for
the share price now from the allocation of this cash flow to
fund successful low risk drilling to grow group 2p reserves.
Chinguetti discounted : As expected, given last years reserve
write-down at Chinguetti, there was a non-cash write down of
$57.3m in relation to the $170m of net asset value reported as
at 30/06/06 as a result of the revised Chinguetti reserves of
51m bbls announced in January. However, even assuming an oil
price of only $50/bbl, the 8% Chinguetti holding and royalty
interest is still worth c.55m.
Proven reserves : Valuing the companys separate 5.28% Tiof
royalty on 359m barrels, which remains unaffected, gives
60m, as does its Tevet royalty worth c.5.5m, giving a total
oil value for Sterling of c.120m. Sterlings Banda gas royalty in
Mauritania is still worth 42m. The value of its proven and
probable gas reserves in the Gulf of Mexico has doubled to
180m following the Whittier acquisition, as has its 3P Gulf of
Mexico gas reserves risked at 50%, to 74m, giving a total gas
value for Sterling now of 296m. In January, Sterling announced
the acquisition of onshore US Gulf Coast exploration and
production company, Whittier Energy, for $188m. The
acquisition c.doubled Sterlings reserves, production and cash
flow, and was financed using the companys net cash balance of
$56.5m, a completed placing of new shares at 16p to raise a
further $50m, plus a new $100m bank debt facility.
Major upside : When Sterlings liquid assets such as its Forum
Energy 14.7% shareholding worth 3m, and its new net debt of
c.53m are also taken into account, the groups NAV increases
to 366m, or 23.4p for each of the 1,566m shares now in issue.
We had previously conservatively valued Sterlings entire
additional exploration licences at Madagascar, Gabon, Guinea,
Bissau and Cameroon at 65m, adding a further 4.2p per share
to our valuation, to underpin our current 12 month price target
of 28p (87% upside) : BUY.

How nice to see someone other than EVO saying BUY and target of.......

I think I will watch a while longer to see how much of this upside they can extract.

High volume today, which is nice to see.

I hope this is the start of the turn around for SEY, the volume today: 27,350,875.

wowee! heavy volume and +0.25p .... that really is impressive!!

Ignore him goal. As is plain for everyone else to see you stated that you hoped it was the start of a turnaround, not that it was an impressive day. Why do some people have to be so negative, all of the time?

simple .... because so many get overexcited for nothing, pile into some share of questionable quality and then are surprsied when all suddenly goes sour ..... time to get excited when there is is REAL news or REAL action .... at least the likes of SER is just about profitable or VML which is perhaps worth following for it's chart pattern or seemingly genuine prospects .... i hold neither by the way

that is not to say that SEY will not eventually come good again, but it has a lot of market confidence to rebuild.

cynic, sometimes you do make some good points but as I have said in the past I think you have named yourself most suitably.

it was intentionally so, though the real me may surprise you somehwat!