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

RNS proposed share consolidation 1 for 40 after latest capital raising.

"Sterling Energy entitlement shares offered at a rate of 2 entitlements for every 9 ordinary shares held. These will entitle you to purchase 1 new share for every 1 entitlement held at an issue price of 1.3 pence per new share."

Business Financial Newswire
"Sterling Energy has received a 97.7% take-up for its open offer, announced along with a placing on December 4 at 1.3p per share.

The company is proposing a 1 for 40 share consolidation."

Harry what usually happens to the sp after shares are consolidated?

It will be a fine looking short :)

I suppose in theory, nothing should happen. You will have less shares, but the individual value will go up, but it's sometimes seen as a bit of a smoke & mirrors exercise & there is likely to be a re-adjustment of the sp! Pth probably correct.

I think I did post somethong along similar lines Harry when the initial fund raising was mooted and predicted a share consolidation at some point in the future.

Nice to see SEY is up 3624% today! ;o)

mmmmmmm, 40 x their closing price of 3.92 last night equates to 156.8p.
2517

Market cap over 311m..........

Thats an awful lot of oil they need to find @$1.47 per barrel in Kurdistan, should be easy if results elsewhere are anything to go by.

A billion barrel field will double your money and a bit more.........

Could be worth a punt if only they could sell any find!

Currently the Iraq Oil Minister says no........... and he also says he won't change his mind Kurdistan licenses are illegal and yes we have heard all that before.

One to watch nevertheless.

Business Financial Newswire
"Oil and gas company Sterling Energy says drilling for its Sangaw North exploration well in Kurdistan is likely to be delayed to the end of January due to heavy rain which has hampered construction. "

It's good that they are trying to act as planned. Very positive IMO.

Up 6.73% or 10.25p today - Are they begining to generate interest now that Kurdistan drilling is anticipated to begin any day soon.
They may rise more on breaking news of spudding in ?

Taking an old price of 4p for compasison = 2 for 9 at 1.3p plus extra available 1/2 share at 1.30p per share =
9 x 4p = 36p + 2 x 1.3p = 11 for 38.6p + 1/2 for .65p = 11.5 for 39.25p = 3.41p

Even more .. 3.41p consolidated at x 40 = 136.52p .. therefore up 18% from a pre Xmas price of 4 p ....

I like playing with numbers, it keeps me sain in an odd sort of way, but I think it will now rise steadily from 161.75 to ?? 235P in anticipation only of an oil find ???

That CSE in maths wasn't wasted was it.....lol the only figure i'm good at is
(**)
( . )
as close as I could get it...lol

On Selftrade 2 analysts have a target price of 280p for SEY. No reasons or timescale though, but sp nicely up today to 166p.

.

Wow! An impressive climb!!!

The stock was consolidated you idiot!!

Haha! I thought I would get your attention.