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

May have been if I held!

Glad I managed to stay out.

Mauritania

The first Chinguetti field (Tullow 19.01%) infill well, C-18, came on production
on 14 March 2007. This well has produced steadily averaging around 4,000 bopd.
Chinguetti gross field production for the first half of 2007 averaged 17,000
bopd, however following a recent two day shutdown of the field, production is
currently around 12,000 bopd due to gas lift problems. Operations are under way
to restore production to pre-shutdown rates.

A 3D and 4D seismic survey of the Chinguetti field was conducted in March 2007
to establish better subsurface definition of the field and to examine the effect
of fluid behaviour within the reservoir since the start of production. This
will allow optimal location of further infill wells which are now planned for
early 2008. This was followed by a 3D survey of the nearby Tiof field (Tullow
21.6%) to gain improved subsurface definition as input to feasibility planning
for the field.

From Tullows trading statement

Tiof is by no means certain it seems.........

AGM Statement

Nothing we did not know, but my figures on the back of a fag packet say the should make $92million USD based on 50 per barrel, and of course the price is averaging much more than that. X rate = $2.06 currently/1, thats gross not net.

Now, how much debt have they got?

No response.

The Market does not seem too impressed either, another one that has me wondering why apart from what I know of course.

And what I know you do.

High SWW

Its much unloved LOL, I will wake up on this one one day and it will be blue.

its in the still back waters and needs something to catch the markets attention. shall we shout together??

Anyway bottom draw and back to TLW and ROC & the ever faithfull JKX

regards

I'm off ROC but still on Tullow.

I still have a much slimmed down priofolio since May last year.

I sleep better!

Going to the next support level at 12.33 pence?

I'll be surprised if it does however 14.5p is broken intraday.

Ouch

big offload or shorted to death. This will rattle a few.

Regards

Hello Dear Fellow.

Dont know why this is happening, looking at the AT trades the bots have it in their grasp.

Dire across the board then with a few exceptions.

not one of the board as put any amount of there own money into this company .that about sums it up.

more sense! ...... sorry, lol!

Cynic,sorry to be off topic,CEN,yes or NON?,PLEASE.

this is the only company i hold were the ceo as not bought shares withis own money and i don't mean a couple thousands .why will they not invest there own money . well i say there own money salarythat they have had for nothing,so he doesnot think much of it.

:

Directors shareholdings:

Name Amount % Holding
Harry George Wilson 28,120,092 1.795
Graeme Paul Thomson 15,595,510 0.996
Andrew Grosse 5,650,473 0.361
Richard Dick Stabbins 4,474,272 0.286 PeterKellaway Wilde 620,000 0.040
Paul Michael Griggs 300,000 0.019
Christopher Alan Callaway 200,000 0.013

You are wasting your ink optomistic.

TANKER is completely unyeilding as to what the Directors hold have paid for the shares and have done for the Company.

He should have sold ages ago and kept his money, but he prefers to hold and whinge.

I suspect at the moment he is locked in like most?

( unlike me and cynic I suspect?)

was i ever invested here? ...... maybe, but it must be a good while back ...... only oily i current hold is PMO (+ indirectly HAWK and PFC) which is also not doing my portfolio any favours, but at least it's very much a "proper" company with some prosepct of being a t/o target

Morning all in the interests of completeness, I post this from a very good reliable poster over on TMF.

Hallucigena was at the AGM and adds a little to what has been written so far, so with grateful thanks, I repost it here from TMF in it's entirety.

"Sterling - current market cap 215m (13.75p), Westmount Energy (WTE) represents the cheap way in as they hold a big chunk.

Tube/train fine, 11am start is quite civilised. Held in the Ashurst building opposite where the SOCO AGM is held, no biscuits and terrible coffee.

Currently producing 6000boepd according to AR, they said 4700bpd up 10% since March - I think referring to the US only or excluded Whittier? Big event of the year was the acquisition of Whittier Energy for 100m cash, which expands their Texas/Louisiana acreage and doubled reserves to ~24.5mmbbls. Reckoned that onshore was the way to expand US interests as rig situation so much easier. Combination of Whittier deal and year end has meant they've been in a close period for about 6 months, so haven't been able to do much promotion in the City.

Current well flowed 2mmcf from Austin Chalk, 2 month test starting next month.

Chinguetti gross production :
Q1 18.3kbpd
Q2 15.4kbpd
14kbpd recently.

But at least Woodies have upgraded P2 from 50 to 67mmbbls. They saw $7.70 per barrel from the ex Fusion royalty, and 0.9mmbbls total from their government deal, and they didn't contribute to the $100m bonus payment to the government.

Seems to be that the entire future of Mauritania largely hangs on what happens in the Phase IIB development drilling at Chinguetti in Dec/Jan (3, maybe 2 wells + 2-3 workovers, wells cost $60m+ and access 2-6mmbbls each) - if it's disappointing then Tiof probably won't happen, they haven't OK'd it yet. 2 lifts this year, first one $8m, second $11m.

Gabon - well on Themis in Q4 (WI 28.5%, pay 10.5%)

Madagascar - very excited about it, but slogging through 2D interpretation and 3D is next, so not a lot for the market to get a handle on.

Just moved office - will cost them another 200k, but are saving 50k on closing Whittier office.

Forum Energy were mentioned in passing, couldn't say much about it.

Some useful gossip over coffee afterward, but didn't hang about long as had to make it to JMAT at noon.

Perhaps the most immediate news would be the announcement of the Kurdistan license - I've had a little tickle as my play on sorting out the Iraqi petroleum regime, but feels like the market just can't get sufficiently excited about the rest of it, not enough material drilling. A lot like Aminex in many ways. Having Dick Stabbins as the new chairman may mean some new deals, he seems to be one of those people who knows everyone :-)

H "

Good slant on everything I thought.

op. they have NOT used any of there own money out of there pocket read the accounts,