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

Hope it is positive.....I had doubts at the start...bought in and more and now might get my fingers burnt.....cannot sell out without a bad loss so will stay the distance....the rig has to be up and running first....

Might be a good time to buy....1. rig should be nearing back on the job, 2, testing then to resume.3, chart shows drop has been possibly overdone. 4.they have encountered hydrocarbons of a sort so perhaps on their acreage a commercial discovery is possible even if it is not in this well.....

i see no compulsion to buy into this company .... though their well (sangaw) in kurdistan MAY come up with the goods, the rest of their portfolio looks unimpressive to say the least, all sites being involved in assorted disputes or being abandoned

It's risky to say the least but a short term gain could be on the cards because it has jumped before on a little bit of good news, on a discovery it would fly but it's a toss of a coin for that.

there's much better in the pond - i have been championing AFR for too long i guess, but at least that has decent "finds" already, and it is trying very hard at snail's pace to get up through 100/105

In that as well for what seems like years now...

well this week should be quite important - i want to find out either way as i need to consider where to put my sey profits next! be interesting to see how gigh the sp will fly if a positive rns ref rig which imho it will be - dont want to think of the other option!!

I should not bank on this week - Did they not say 3 weeks to repair the rig ?
That takes us to the end of this week if all has gone well
Then is it the wire line testing to complete ?
That may be another couple of weeks ?

God only knows when this hole will be finished,
remember the drilling was a couple of months
delayed because of rains, now 3 weeks for repairs.

Even now its only about half the way down.
If the top half is not great news, the bottom half may be.
I think all this waiting is testing our patience, and nerves.
Are their to be more drilling problems, from this ( I think Egyptian ) drilling co. ?

and i wonder who has to pay for all the downtime for both personnel and and awful lot of expensive peripheral kit and finally the rig repairs and perhaps/probably continuing rental on that too

Addax Petroleum...(AXC) if I recall...taken over by somebody.....

Addax was taken over by Sinopec for $7.5b, a couple of years ago, I understand.
Sinopec is headquartered in Beijing, China, and is within the top ten of the Fortune Global 500 companies. It has affiliations with China National Petroleum, Sudanese State Oil Company, Aramco of Saudi Arabia, Exxon, and probably many others.
It is BIG.

The other partner in Sangar North , Kurdistan, with SEY is the Korean National Oil Co., and KNOC seems to be always looking for further oil assets.
KNOC is also BIG.

With two massive partners, perhaps one day SEY will fit nicely
into one of the above, if they find anything in Kurdistan.
SEY is now a fairly "clean" company with few liabilities, a bit of cash, and what seems like only distant possibilities offshore Madagascar and Cameroon.

Any comments ?

i think this stock is well avoided ..... as you say, sangaw is about SEY's only live hope ..... if by some fluke they find something worthwhile, there'll be plenty of time and margin to hop on board .... meanwhile, it remains an out and out punt on the gamble that the lemmings will clamber on board for a short ride

"If our forsight, was as good as our hind sight, we would be a dam sight , better off " - famous Chinese saying ?

Was it written by Confucius, Sinopec, or by KNOC, I think it must have been one of them ? Or was it Mr Cynic.

What a fluke it would be to know the future.
Are you going cycling again in France this year Mr Cynic ? Only joking.

indeed - as of friday morning we head off for the angers on the loire .... start cycling there saturday morning for a week ..... you want more pix?

You see - I do know the future. I knew you were going cycling to France.
I'm sure you will have a good time.

I'll be here in the rain, scratching my cystal balls.
When you return SEY could be looking good, we hope.

SEY could be looking good BUT cyners leg.....a year on.....are they still in shape cynic??.,.

i still turn a beautiful and shapely calf

You'll have mother moo after you ....

Ha!! RF got there before me.,.lol

.