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

stock is up by 30% plus in last 3 weeks,so starting to look good.

SEY is begining to fly 11.2p at present, apart from its undoubted asset portfolio
which in turn has persauded none other than the Naked Trader to invest.
Now i only know of the NT by reading around, but it seems he is the most respected investor on these boards and just the news of him buying into a
stock tends to send the SP into orbit.
For me SEY potential is the reson but i feel a whole lot happier knowing that
NT thinks enough to invest?
aimho
cyril

noc, remember he is Naked Trader, not Naked Investor - quick 40% profit and out, sometimes runs his holdings a little longer, so also watch for his exit if only to explain a minor hiccough in the upward trajectory

S/dog thanks i'll keep that in mind, although i have held these for as long as i care to remember.
cyril

longer than I care to for sure!

Just think of it as lost dosh returning home,or something that you found stuffed in an old pillow!

another good news for sey reg-roc. looks like good luck is back.
just few more discoveries in kurd and happy days for all

Had a good day.

Any reasons for the fall in the sp today?

Denis obrian ups stake to 13.11 percent,just bought a few more myself!!

Sale of peripheral assets,might buy a few more!!

Moving up!!!

:)

:) :)

Farmout of interest,makes good sense.
:)

What interest are they farming out CWMAM?

edit: have just seen the RNS. Does make sense with current day drilling costs.

symbol: SEY), an AIM listed independent oil & gas exploration and production company with interests in the Gulf of Mexico, Africa and the Middle East, announces that it has conditionally agreed to farmout an 18% interest in the Iris Marin Production Sharing Contract ('PSC'), offshore Gabon. Following the farmout, Sterling will retain a 32% interest in the PSC.




Sterling's interest in Iris Marin is held through two group companies. Sterling will reduce its interest in the PSC to 32% through the sale of its wholly owned subsidiary, Sterling Energy (Iris Marin) Limited, which holds an 18% interest in the PSC. As part of the conditional sale to an existing partner, Addax Petroleum Overseas Limited, Sterling has received US$3.3 million in cash and will, in respect of its remaining 32% interest, be carried for well costs on an 18% interest in up to two wells on the PSC. There is a monetary cap on the carry in any second well. Sterling will seek to transfer operatorship.




The ICM-1 exploration well on the Charlie prospect on Iris Marin is due to spud in late June. This well will test a target of 20-40 million barrels of oil. Sterling's initial estimates are that an 8 million barrels find could be commercial.




Graeme Thomson, Chief Executive of Sterling, said:

'This farmout reaffirms our strategy of managing our exploration portfolio risk whilst retaining a material interest in the upside potential. In essence, this deal more than covers our expected share of costs of the Charlie exploration well and, in the event of success, for over half of our costs in any subsequent well. This deal also materially improves our near-term cash flow.'

For optomistic and sey fans.

I was expecting this to be above 20p by the end of this month!!!

me to