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 Prop, despair setting in due to inclement weather forecast for next 2 days precluding moderately illegal speed jaunts on 2 wheels. Roll on summer!

namreh3

Sell price?

Now there's a thing.

The drilling program will extend into 2005, this phase as I understand it is an exporatory mission rather than fully quantifying reserves.

That being the case, when do you need the money back?

I anticipate a minimum of 25p by December and if things go well, at the end of the campaign, possibly 50p plus.

When any fields found are declared commercial, which may folow shortly thereafter, there will be a big leap in the price.

We all do it, i.e. sell probably too quickly, but it is a good idea to lock in profits at some point.

proptrade indicated recently a creaming of profits at certain stages, that is a good strategy as it will lock in profits.

I would do the same at certain stages, but in my book, the first would be at 25p, the next at 50p, and then 1 should any of those figures become a reality.

In any event I am planing to have at the end 10k shares left which are paid for by profit. Those would stay in should SEY suddenly become another Cairn.

That's my contribution, anyone else?

Thanks SWW Did Dana declare a field commercial earlier this year - I think so (without rechecking) but share price did not reflect same. if the fields in which SEY have same result should we expect the share price to lag the newsflow as in DNX. If so, why do you think this would be?

After 'locking-in' profits do you advocate buying back in if price retreats slightly. Does this really depend on your o/s holding of share - to pound/cost average. What typically are the strategies for selling in tranches up to your residual free profit shares 25% at sell point 1, 35% at 2 etc? What are the criteria typically used to make these sort of judgement calls?

Looking briefly at some numbers again, Evo had pre-tax profits for 2004E as 3m. We've already done 1.98m for the first 6 months so I would think we would easily beat Evo's full year number.

For 2005E they have pre-tax of 14.3m, would think a good chance of also beating that number. They also estimate EPS of 0.31 for 2004 and 1.23 for 2005. An exciting and profitable year ahead.

namreh3

1st point, no idea.

Buying back in, that is for you to decide, if it were me,and I trusted the Company then I would buy back in, and in fact do with others.

I target WLW which is a yo yo share, I have pre determined buy in prices and sell prices.

It works for me, but you must do the homework over a period of time to know where to do that.

If a share is in the ascendencey, then I probably sold too early. As with my trade yesterday, I do not look back if I have taken profit, but if HNR had fallen a bit more today, I may just have bought back in forthe same amount of shares, therefore locking in profit, in this case in anoother share.

In respect of residual profit shares, I may be tempted to sell, but quite frankly unless they look like losing a load, why sell?

My old age is coming, so I am looking long term with most of my holdings.

I hear what you say SWW. I use DTC and RDN as my yo-yo shares. Thanks for time taken to reply- appreciated. :)

Friday's Constant Gainers & Losers 14:51 - 08 Oct
Clearspeed, Aminex, Central African Gold, Moss Bros, Mouchel Parkman, Peter Hambro, Corin, Sterling Energy, Galleon, China Wonder, Filtronic and Signet in focus.... .....READ


You are welcome

Out of interest, what do Sterling do?

He is the next James Bond. My name is Energy. Sterling Energy. Full of British vim and vigourous growth!

Sorry Hilary, we digressed a tad. Sorry to the Purists amongst you! :)

namreh3, i'll have a drop of what you had for lunch....

I'm too tired for vigourous growth these days even the viagra takes a fortnight to work, well sort of work.

MS

nice 1 mil purchase at the close.....

Right.

Back to food.............

That's all for this week.

Back with a flourish next week.

Have a good weekend.

sww

you too guys...over and out
rgds
proptrade

Well what a week that was. May call for a celebratory drink this weekend! Looking forward to Monday.

Have a good one all.

Gav

From oilbarell.com

11.10.2004
Mauritania Continues To Perform For London-Listed Explorers
The first wells in the latest round of exploration and appraisal drilling off the coast of Mauritania have done nothing to tarnish this emerging oil provinces early promise. The initial results from Woodside Energys aggressive batch drilling campaign, which uses the West Navigator drillship for the upper parts of the wells while the Stena Tay drills the bottom hole target sections, appear to confirm that the Australian oil independent and its joint ventures partners, many of them AIM-quoted minnows that could see their fortunes transformed by the current drilling campaign, have invested wisely in the northwest African state.

The Tevet-1 exploration well in PSC B has encountered a gross hydrocarbon column of 114 metres, comprising at least a 70 metre gas leg and 44 metre oil leg. The well, drilled in 489 metres of water some 80 km southwest of the Mauritanian capital Nouakchott, lies within potential tie-back distance, about 10 km, of the Chinguetti oil development.

Woodsides partners in PSC B are Hardman Resources (21.6 per cent), BG (13.084 per cent), Premier Oil (9.231 per cent) and ROC Oil (3.693 per cent).

Charles Jamieson, chief executive of Premier Oil, which has flagged in the exploration stakes in recent months, described the well results as an excellent start to our drilling campaign in Mauritania. For seasoned explorers Hardman and ROC, this latest discovery promises additional upside for their investors.

The Stena Tay is now set to move to the site of Dorade-1 well in PSC 2 in order to drill the bottom section of the well. Dorade-1 was drilled in waters 1,670 metres deep some 165 km southwest of Nouakchott and 85 km southwest of Chinguetti. Partners in PSC 2 are Woodside (operator with 48 per cent), Hardman (28.8 per cent), ROC (3.2 per cent) and Tullow Oil (formerly Energy Africa, 20 per cent).

An appraisal well on the Tiof oil field, also in PSC B, has also been successful. Tiof-3, drilled in 1,198 metres of water some 25 km north of Chinguetti, encountered a gross column of 134 metres, in line with pre-drill expectations. The well will now be sidetracked to further test the reservoir.

The next batch of results will come from the Capitaine-1 exploration well and another appraisal well on Tiof, followed by further Tiof appraisal results and news from the Merou-1 exploration well.

Its an ambitious programme, although the E&A work will halt around November/December to allow the two rigs to focus on development drilling on the 120 million barrel Chinguetti oil pool in PSC B. Phase 1 of this development, thought to cost around US$600 million, will involve six production wells, four water injection wells plus a gas disposal well to inject the unused associated gas in Chinguetti into the Banda gas reservoir. The field will be produced at a rate of 75,000 bpd through an FPSO leased from Norwegian firm Bergesen Offshore.

The Stena Tay is expected to resume exploration drilling in March 2005 while the West Navigator continues work on Chinguetti through until the third quarter of 2005.

nice article to start the week. good weekend??

Anyone got any ideas as to why the sp is on the slide ? 18.25p when I last looked - hope we done lose all of lastweeks gains!

NP

small amount coming off the table. stock taking a breather.