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

Cycling in beaujolais ....? I've got myself pissed many a time but I've never done that !...must be great...

I've just got back from Lot on Saturday.

GKP ???? Is a good Company, but I think now perhaps fully valued. I could be wrong. I bought it at 11p and sold too soon at 28p.

One I am looking at is Western Zargos - quoted on the Canadian market, but is 100% a Kurdistan gamble, and I already have several million SEY.

Not every company is going to be successful out there : the oil is here and there in massive pools trapped in rocks....

spot on

Cynic, we're talking oil not flea repellant for dogs... no references to TMC thread please. :)

silly boy!

Enjoy yourself cynic.

Doubled up today.

I'm not sure about that....bad day all round with pullbacks across the board...

("Oil and gas company Sterling Energy has announced a placing to raise 62.5m gross, of which $35m will be used to repay debt.
The placing is at 1.3p a share, representing a 52.6% discount to the August 13 closing price.
Sterling says it plans an open offer by mid-November to raise 20.6m at the placing price, which will give shareholders the opportunity to subscribe for two new shares for every nine held. ")

RESULT OF Extraordinary GENERAL MEETING
7 September 2009

The Company announces that at an Extraordinary General Meeting of the Company which took place earlier today, and which was called in relation to the Placing announced on 14 August 2009, all resolutions put to shareholders were duly passed."

Evolution Buy note out today 6p target short term.

Topped up again for the last time.

And SEY bouncing from 50% Fibonacci retracement price 3.375p

Master RSI - Thanks for the interesting charts - well done.
Addax may be spudding in at Kurdistan for SEY during this last quarter, so this will create some interest and price increase action. Addax have experience of high pressure well drilling.
Also SEY should have their half yearly report out at the end of this month, with some comments from the new directors. The proposed rights issue due in November is now well known about and should not be a drag on the share price. I,m very hopeful of a good rise soon.

The rights issue is at 1.3p. It must logically be a drag on the sp as it is a dilution at a discount price.

HARRYCAT -
How do you know it will be at 1.3p ?? That was the price of the previous fund raising - we know. With a rights issue one can sell the rights if you do not wish to take them up. A rights issue is not necessarily a "drag on" the market - it does not mean the price will drop to ? 1.3p or thereabouts, as the rights themselves will have a value / price. I suspect that on official notice of the rights issue SEY may fall back a little for a few days, but nothing too serious.
Also I have read that after a rights issue shares usually rise, due to the potential use of the new funds. Do you not agree ??

rekirkham,
it is called theoretical ex-rights price. if i remember correctly it was the RI will be 2/5. x-r price would be around 1.6p-1.8p. i think it'll depand on the cum rights price at the time.
looked the buy volumes for the past 2 days.it looks like investors are hungry for this one. high risk-high reward

HARRYCAT is right - they intend an "open offer" in November to raise 20.6 million at the placing price which was 1.3p at 2 for 9.
So if the share price is 4p in November it theoretically works out as 2 X 1.3p = 2.6p, 9 X 4p = 36p, 2.6p + 36p = 38.6p, 38.6p / 11 shares in total = 3.51p ex rights price. If you take up the open offer, or if they credit us with the premium some how, then nobody is a looser. Am I right or wrong ???

MAY I SAY

Open offers do not go "cum" so are not being diluted on the share price opening price when going X, only Right Issue do that. But being at a such large discount then, most likely the MMs will marked down the stock.

But one must buy the open offer otherwise one gets nothing for them, it goes to the underwriters , naturally if there is a premium, but being at a such discounted price it shoud