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

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.

11-Aug-09
13:54 Sterling Energy to raise up to USD 100m within seven days, new investor to provide up to half of new equity - sources
Story Sterling Energy, the listed independent oil & gas explorer and producer, will raise up to USD 100m in a share placement in the next seven days, sources familiar with company said.

One new investor will take a 50% stake in the equity raising with the remainder subscribed to by existing shareholders. Meanwhile, the recovery of the oil price this year could aid efforts to offload its US assets, one source said.

Sterling Energy declined to comment.

Sterling, which has interests in the Gulf of Mexico, Africa and Kurdistan, said yesterday it was currently exploring a number of options including a sizeable placing of new equity at a significant discount to market price. The company also said it was continuing to talk to interested third parties regarding a partial or entire sale of the company.

In June the group announced it was in preliminary takeover talks with parties rumoured to include Argentine oil investor Carlos Bulgheroni, who is reported to be keen on getting a foothold in Kurdistan.

Last year Sterling hired advisors to sell its onshore and offshore Gulf of Mexico assets in order to focus on Africa and Kurdistan. A source familiar with the company said this sale had been hampered by last year's wild swing in the price of oil but that sale prospects had now improved as oil was trading consistently at around USD 70 p/bl. Last winter the oil price hit a low of USD 30 p/bl from USD 150 p/bl just six months previously. The planned sale of the companys US business was designed to pay off its debts and a repayment waiver granted by its lending banks expires this month.

Sterling is operator of and has a 53.33% stake in the the Sangaw North Block in Kurdistan. The block is held under a production sharing contract and includes Addax Petroleum (26.67%) and KNOC (20%) as partners, according to the company's website. Well planning continues towards the drilling of the first exploration well on the block during the fourth quarter 2009, the website states. A market source believed this would take place in October or November.

Major shareholders include Invesco with 29.52% and Denis O'Brien, the Irish entrepreneur (15%). Turkey's Genel Energy, which is merging with Heritage Oil, the UK-listed oil and gas company, holds a 1.65% position, according to a filing on 9 June 2009.

Last Friday shares in the company closed up 41.7% at 3.3p. The company's shares finished today at 2.8p giving it a market capitalisation of approx GBP 64.5m. Around 29m shares traded against its three month average daily volume of 11m.

by Ed Vinales and Lawrie Holmes
Source dealReporter

RNS : 1.3p placing...I thought it would be 2p.....plus offer......this looks like a short at the moment and when everything settles down then it might be a buy....1.3p ouch !.

currently 2.62/2.66 + 19m traded

Well I won't be buying any at the current price.

Needless to say people are buying at 2.73p.....nuts....

concur .... good luck to them

The sp just has to come down ...funds raised amount to 64% (I think) of total shares in issue.....perhaps when all this settles down in a month or so it might be worth a punt but at 3p with the placing at 1.3p and massive dilution...no way.

Undoubtably a consolidation to follow at some point with +6 billion (?) shares in issue. Probably a good short when and if that happens!

Well they can't consolidate for some time yet.....placing and offer...I can't see a consolidation until next year.

And still the sp rises..I would get out now if I owned the shares....I reckon that Brown, Darling and the Bank of England have organised the money raising......must have printed a few billion over night.

don't get suckered .... you know you'll get burnt! .... plenty of "proper" stuff around on which to make good money

Yes at the moment plenty of better choices around in fact...this is now one hell of a bull run for ftse and certain aim stocks...

WELL the news are out now

I told you so and you could have double your money since, but like everything that goes UP also goes down.

Not today with the news.

Double your money from when ?.....wait for the sp drop....too much dilution....