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

Nothing concrete. Possibly a public holiday in Kurdistan, so news release unlikely today. Most discussion boards seem to be nervous about the likelihood of finding oil & many private investors seem to be banking half now with small profit & letting the rest run. Am going to sit tight myself, but confidence not high.

need just a touch more for me so sitting on hands.,.

Risky for sure....

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Fizz has gone out of this...

Fizz yes. O trades are coming to the market.

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Main target still in place.....these were secondary targets....

Sangaw North #1 Exploration Well

"The exploration well has been drilled to an intermediate depth of 2,395m and open-hole wire-line log data acquired from 1,450m to 2,395m. Analysis of the wire-line log data indicated potential hydrocarbon bearing zones and Sterling has completed open-hole drill stem tests ("DST") over two prospective zones identified from the well data.

DST #1 was performed using inflatable straddle packers to selectively test an open-hole interval within the Cretaceous age Kometan formation. During the 6 hour flow period, an initial recovery of gas was followed by flowing water with minor gas content.

DST #2 was performed with a casing packer set near the shoe of the 9 7/8" casing and an inflatable open-hole bridge plug set within the Cretaceous age Shiranish formation in order to test an open-hole interval of the Shiranish. Coiled tubing and nitrogen were used during the initial flow period to assist in flowing back the fluid column in the tubing and the heavy drilling mud in the open-hole section; the coiled tubing was removed when the well started to flow naturally.

Following an initial clean up period, the well produced gas at an estimated flow rate of 4 million standard cubic feet per day (mmscfd) along with some drilling fluids, however the gas flow decreased and was replaced with water, believed to be formation water, flowing at an estimated rate of 4,300 bbl per day. The well was then shut-in and then re-opened for a second flow period. The well initially flowed water and then produced gas at an estimated flow rate of 1 mmscfd, however again the gas flow decreased and was replaced with water at an estimated rate of 750 bbl per day.

The forward plan is to drill ahead through the remaining Cretaceous section to evaluate the Qamchuqa reservoir and then to the deeper reservoirs in the Jurassic. The well is expected to reach a depth of 3,660m during the 4th quarter of 2010.

Alastair Beardsall, Sterling's Chairman commented:
"The initial recovery of gas flowing to surface from these zones within the Kometan and Shiranish is encouraging; however the subsequent water flow from these zones is disappointing. We shall now resume drilling to evaluate the Qamchuqa and then on to the Jurassic Whilst drilling ahead we shall further analyse the DST results and the previously acquired log data to see whether further testing within the Shiranish and Kometan intervals is justified, once the well has been drilled to its final depth and the open-hole sections cased."

I half expected this.....market has savaged the sp... main target still in place....

But of course we don't really care do we, as RKH/DES profits far outweigh the loss here! ;o) Shame though, as I suspect this is going to be a p&a eventually & further fund raising.

sp slipping now under 2p old currency.

No news...very quiet.....could either be a duster or a fabulous gas discovery.....more likely the former....

Would,would,would....Sp starting to creep up....they wouldn't have hit something would they ?.....now that would be something....!.

Probably the bits they left down there on the first few attempts!! Hey SEY hit diamonds!!

Seriously though hope they do, bought 500 shares earlier this year so not looking good at mo, if they went back to where they peaked they'd be 14 a share would you belief!! Just goes to show how fortunes can change and how unpredictable some oil fields can be.

Still long term they do have prospects and cash (for now) all we need now is oil in Kurdistan and border disputes in Africa to be sorted out. Oh and as it's nearly the festive season let's chuck in world peace for good measure.

Anyway I can't sell em now as with my luck they'd hit the big time, but I can't face averaging down either just in case.

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Imagine where the sp would be now if they hadn't implemented a share consolidation....almost as if they knew that the immediate future would be bleak.

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