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

So, after all that debate are we agreed that the sp of SEY is likely to decrease when the open offer is launched, thus buying & holding now is of dubious benefit, except if you wish to increase your holding to benefit from a greater takeup of the offer (i.e. 2 for every 9)?

off topic but ..........if spare cash

another share also bouncing from Fibonacci 81.2% is VOG and is doing nicely also.

HARRYCAT -
The way I see it, ( I could be wrong ). If one has one million shares, then at 2 for 9 you are entitled to 222,222 shares at 1.3p = 2,888.
Compare that to the current price of one million shares at 4p = 40,000. and 2,888 is not a mind blowing amount.
I agree with Master RSI that the share price may fall marginally at this "offer" time because of the optional liability where some may decide to sell, and also there could be a little selling a few days later where people who have bought may sell a few to recoup the additional outlay. After this is out of the way I think they should recover. Personally I do not think we are talking about a major price change, and more importantly at November time there may be more price and excitement built into the share price about Kurdistan. Personally I am not worried about the "offer".
I wonder what MasterRSI thinks ? Does this add to our confusion ?

Trying to crack 3.9p today maybe Monday will succeed.

rekirkham

we are still maybe 2 month away, + 3 weeks of option to take it up, so a bit too far away to speculate for me, apart from what i said earlier.

Fully loaded here its got the pi imagination

I reckon its on a winning streak here andonce 4p is reached it will head for 5p in a short time imo.

RNS broker upgrade spudding in Kurdistan late December drilling time 150 days.

So drilling completion approx early may 2010? (Assuming no problems)

lets hope like GKP they strike oil on the way down to target depth.

Having read the following, the risk factor is a little higher than I would have liked, but maybe less risky than usual as I thought the %age strike rate for most drillers was around 15%:
"Business Financial Newswire
Sterling Energy says preparations are continuing for the drilling of its first exploration well on the Sangaw North licence in Kurdistan. The well is planned to spud in late Q4 2009.

An independent review of the prospect estimates the unrisked prospective resources at 804mmbbl, with a 27% chance of success. "

Order book is getting stronger on the bid side, should be ready to go over 4p soon

Oh master you are right again!

in @3.9 up now thanks master

Frankly the sp is reacting to a strike like GKP...ridiculous....another company still with big debt and an assumption that there is huge amounts of crude at the bottom of a well that won't be tested for another 6 months....market cap now 300 million with little production and a possible dry well and another possible duster in Madagascar (not a bad name that mad-a-gas-car)....jokes aside.....way overvalued already...!.

like some one posted earlier.....high risk high reward......so in we go....and with a measured amount of risk....and investment...i am sure that would get most individuals vote.....now where is my crystal ball.....

The two companies
that have previously
made the transition
from oil exploration
minnows to members
of the FTSE 100,
Tullow Oil (TLW) and
Cairn Energy (CNE),
relied on success with
the drill bit to fuel their
precipitous growth.
Sterling which is
testing a potentially
huge prospect in Kurdistan, Northern Iraq, with its Sangaw
North well could follow in their footsteps. Success in Kurdistan
would drive the share price to several times its current level, and
in the medium to longer-term the group sees similar potential in
its acreage in Cameroon and Madagascar. SAYS SHARES MAG SEPT 24

required field - spot on.

Reality will kick in one day, this company has an awful lot to do but there is a small chance that after the sale of US assets, after a big in line strike in Kurdistan, after paying off the remaining debt, parity will be resumed.

Till then I suppose it is a penny punt but don't expect too much yet.

If they come up with nothing when the well is drilled...this will dive to less than half a penny so there is a big, big risk in investing here....and it is worth 300 million pounds as the sp stands plus debt...crazy !.

4.17 -4.19p +0.11p

the bounce is back with volume and a very strong order book on the bid side