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

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

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i knew you needed a little trailer to entertain on a very gloomy day in the markets!

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Guys and Dolls : have a quick look at IAE.....sp unfairly knocked down and big amount of dosh raised....isable as well.....I've been buying in small blocks as of late as I can foresee (hope) a recovery is coming....(north sea oil and gas)....

perhaps you should post on IAE thread RF....does look promising.,.

Rig repairs complted,10days of testing.
cyril

Might just come right.....might....