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 am no expert, but common sense tells me that if H2S is present in the gas, it must be a regular occurrence and is certainly a common byproduct in oil refining ...... many of the modern steel compounds have good acid resistance, and in case, if re-tooling is necessary, it will already have been budgetted for, as will the timing of same .... but the company is still rubbish!

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in that case, it just highlights what an unprofessional company SEY are, for it should have been tested and catered for

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bullshit! ..... i accept they may not have known the concentration when drilling started, but sure as hell it should have been blatantly apparent with the first sample encountered

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mnamreh - You have just disclosed your age! TTFN, indeed!

Sp holding up well...so far....

so it damn well should with rest of market in recovery mode

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It's a big gamble this....don't put too much on but 2 ways of playing this ....a recovery for the sp on expectations and punters like myself, and the sp climbing back up to perhaps 80 or 90p before results or stay in long term and hope for a nice surprise discovery....

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I understand that H2S concentrations in Arab Emerates are about 30% ?
If SEY H2S is 5% that is pretty sweet gas I believe.
Am I talking hot air or what ?

don't know one way or another, but if the story is true, then assuredly SEY are shown to be a bunch of unprofessional nincompoops

Come on now Cynic - do feel so bitter - you will not appear impressive ifSEY come good. Remember Dana on a nearby block are primarily a gas exploration company, so plenty of sweet gas is not so bad.
I know a lot of MoneyAM bloggers will appreciate that, ie. " a lot of gas ".

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The removal of sulphur from gas and oil is very standard practice in the oil industry.
Are you joking or what ?

Also 5% is a low concentration - have you been in the oil indeustry ?

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Hi mnamreh - I understand that the H2S is generally left in the oil at the well head and shipped with all the other crap to the refinery. Otherwise it would require quite a lot of equipment at the well head. When the crude oil is shipped by tanker their is the possibility that the H2S will react with the iron of the ship hold and iron pyrites could form. If the iron pyrites meets oxygen from the air, it could ignite, therefore modern ships pump an inert gas ( usually nitrogen ) in the hold on top of the crude oil.

I am not an expert on this part of the oil and gas industry,perhaps many other know better, but I have a little knowledge of it, which is probably dangerous.

Good luck with your dealings = I have masses of SEY and a sore head at the moment.