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

Missed the rise here, but this has risen more than GKP in percentage terms...a litle crazy...and the huge overhanging debt put me off....because they will probably have to raise funds at 2p or less...

ITM Taking off why?

Weird....I don't know and this rise here is strange because if and when with AXC they drill and they come up with nothing : this company will be stuffed !.

To required field -

Have a look at " vastexploration.com " for detailed map of Kurdistan licences and another map for discovered oil fields. GKP has two new licence areas to the north of their existing areas. It seem GKP has a share in about 1702 sq km, and SEY about 493 sq km.

Kurdistan contract reports they say licence area of Sterling Energy is "low risk, high potential" also it is between Kirkuk oil field and Heritage discovery.

Bank extended credit facility in about April because of "inherent value". Oil price has since moved up, and Henry Hub ( Louisiana ) gas price moved up a little, so inherent value must have increased , not decreased, therefore unlikely that SEY will have problems with their bank.

What is going on today ? lots of buying then quite a lot of selling ? Perhaps their is a press article somewhere or something ? I do not know why so much trading today , does anyone ?

Thanks rekirkham, ....people speculating on big discoveries...I can't make my mind up on this one...

Perhaps I need some "Bucks Fizz"....making my mind up....(I think it goes like that)...

>> Perhaps their is a press article somewhere or something ?

Mentioned yesterday on oilbarrel as one to get into if you missed the boat on GKP

Possibly but the risk is much, much higher....massive debt and not yet discovered anything as they have yet to spud !.

was in now out, had work to do so had nice profit at 3p but wished i could have stayed for the 4p. ah well in the words of cynic... a profit is a profit..:)) may be temped to go back in when it drops to 2p again.

I had a look at the very detailed map of the Kurdistan area (thanks Rekirkham), at there are a heck of a lot of drilling areas....the trouble is that not everybody is going to hit the jackpot so luck has to play it's part in a successful drilling campaign.

SEY on a wave today.

sort of true, but its sp is so minuscule that the smallest movement is exaggerated in % terms ..... personally, i think this company has so many underlying problems that there are better places to invest

IT IS GOING TO GO NORTH NOW

why? .... it's currently up a whole 0.42p and spread is a surprisingly tight 0.15p at the moment, but that still means you need an awful lot of shares even to buy some fish n chips

It really does not matter how many shares you want to buy, what matters is how much cash you want to risk. Being an AIM share the spread is usually wide, but occassionally does narrow.

The good thing is that if they issue more shares then their bank problems will be a thing of the past, and they can get on with generating a profit. Existing shareholders will both loose out ( gearing down ) and gain ( bank liability lifted ).

Their only problem will then be the sale or otherwise of the USA assets. They could even perhaps hold on to these, rather than accepting a poor sale price, and wait for a better gas price.

It will come right I believe after all this uncertainty. God willing

RNS not good news are the lenders going to foreclose? Better buy the fish n chips!

i think you and i agree for a change - lol

Very risky....they would have to raise funds at 2p and sell everything apart from Kurdistan.

artical in todays FT. " SEY will issue 100million pounds of equity, half of it will go to ONE investor"???

On the 6th August I posted somewhere else .............


Master RSI - 6 Aug'09 - 22:01 - 2404 of 2724 edit
A little bird has told me that the directors are working hard in making a cash call,
naturally below the recent price and before the bank debt agreement is due by the
middle of August.

Once the cash is raised the prospect for the company will be supper and a rise for the
share price into 5 to 7 baggers.