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

Under 8p now, bargain I think, out with the old and in with the new it looks like today.

14 March 2008
STERLING ENERGY PLC
('Sterling' or the 'Company')

USA GAS DISCOVERY & PRODUCTION INCREASE

Sterling Energy (AIM: SEY), an independent oil & gas exploration and production
company with interests in the USA, Africa and the Middle East, is pleased to
announce a gas discovery from its Marlin #1 well, Texas, USA and an increase in
USA production.

The Marlin #1 well has been tested at a rate of 3.4 mmcfgd (net to Sterling) on
a 26/64 inch choke, flowing at 6,100 psi. This Austin Chalk well was drilled to
approximately 15,000 feet. Sterling anticipates first sales in April 2008.

USA production for the first two months of 2008 averaged 28 mmcfged compared
with 25 mmcfged in the fourth quarter of 2007.

Graeme Thomson, CEO of Sterling, commented:

'This is a very pleasing result which will add materially to our near-term USA
production revenues.'

Sterling Energy Plc (+44 20 7405 4133) Web site:
www.sterlingenergyplc.com

Morning Goal. I like the bit 'net to Sterling' :-)

Hello opto, this bit sounds good too, Sterling anticipates first sales in April 2008.

Does indeed Goal and at 6100 lbs/sq ft pressure it is not going to take much to get it out of the ground :-)

So, they won't go under. Those shorted this company should start buying back next week. IMO

The volume yesterday was the third highest volume ever since ten years ago. 80M was the highest just before it touched 35p... I bought at 33p though!

ahoj, sure about the volume, we had 64 million traded yesterday, I'm sure I have seen several other high days?
Re the short traders, if they leave it until next week they could be a long way out, shorts need to close fast IMO.
33p seems a lot nearer today than yesterday but will take more than a few days to see that figure again.
Good luck
opto

I very much doubt there was any shorting of this company.

More like ineptitude by the management and a complete disregard of the small investor.

That is why HW has been side;lined and in the nick of time too imo.

Now it has a chance if you are prepared to hold for another 5 years.

I will hold my few just for fun after all they cost me nowt!

Meantime those who feel the need may ramp away.

Long time since I looked in here!

Finally, some good exploration news!

One point that seems to have been missed, and I'm surprised SEY didn't mention it in their RNS, is the higher price of gas in USA, which will compound the already higher production in 2008.

Add on the new production, and all in all a decent result.

SEY will be more valuable to bigger player as Shell is reducing it's reserve.

Is this the start of recovery I was waiting for?
I am too busy to watch/listen SEY presentation in the conference...

Oilbarrel conference today.

Shell?

Don't make me laugh!

If they spin off either Africa or USA they will be a takeover candidate, while they are so diversified, they have no chance unless their institutional backers want a change of Management.

Exciting times ahead?
http://www.investegate.co.uk/Article.aspx?id=200804070701187179R
One for the bottom draw imho?
cyril

Absolutely the right thing to do.

As and when the sale is complete, things will be looking very up imo.

150M for part of the asset should add about 100% to share price.

Erm, thats the price for the whole USA thing.

Thanks,
You'r right. Editted
http://biz.yahoo.com/ap/080407/oil_prices.html

looks like sterling have scraped the bottom of the barrel,get it!
what chance for a recovery?

Either the recent announcement is a fire sale or this is a good stategic move. But selling their assets in the US will have a negative impact on their cashflow greater than the cost of servicing their debt, using the sale proceeds on exploration will have a detrimental effect on their cash resources.