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

Just re-read the SEY news drilling problems etc.
They are down to 3396 meters - I think the extended target depth is about 4100.
They are about to drill into the "targeted" Jurassic levels, and have encountered high pressure formation gas at 0.5% hydrogen sulphide ( which I think is not sour gas ).
They are going to try and eliminate the "surface pressure gas" ?
How do they do this. I do not know, but gas is down there at about 3396 meters, and they still have 800 meters to drill.
Dana Gas and Crescent Petroleum have a site directly to the west of SEY and they have encountered gas, and have "announced the start-up of natural gas production, processing and transportation by pipeline" . "The gas will supply new power plants under construction near Erbil and Sulaimaniya". Additional gas will be processed.
It seems to me that the SEY "targeted depth" and most promising levels may be the jurassic and triassic, which they would encounter soon, if they get the drill bit string recovered and back into action. It's a pity no oil was found in the cretaious levels, but let us not write this well off, it still has lots of "encouraging" potential.
One just needs the guts to stay with it or not, as this drilling has already been fraught with problems.
Yes - very high risk, but the SEY share price still has lots of good potential, for the patient. I am almost a "patient" with it at present.

Any polite comments ?

i don't think they're much interested in gas ..... it's oil they want and need and i really cannot see why any of you guys would want to buy into this tinpot company with a bad track record

I'm in for the rest of the ride.....I had doubts from the very start but because of GKP and HOIL and AXC having achieved great results decided to take a risk...at a loss but hey !.....there is a very big chance of a large gas find here which could send the sp skywards.....so will stay put but boy ! you have to be patient with this one...another thing is that : I think that the chairman was the boss of Emerald Energy and that was very well run so .....dont think that he would sign up to anything....

"i really cannot see why any of you guys would want to buy into this tinpot company"
I don't. I want to get out at break even or better! Sometimes, having a punt on a risky drill pays off. This one hasn't.

To break even Harry...double up !.

Of course that might work.

Then again you could be doubling your losses!

I'm expecting a surge forward on drillbit recovery......

I thought one should always average down on a rising chart??? It looks like a falling meat cleaver atm.

Why is the price up today ? Do insiders know something that we do not ?
Have they recovered the drill stem ?

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mnamreh - Maybe we shall have a RNS any time soon, after all the insiders know.
DES is Falklands, and all the world knows GKP have oil just about everywhere.
It would be good to see somekind of acurate valuation made for GKP in relation to the proven and probable reserves and the market capitalisation. Is it still cheap or what !

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Harry, one should always average up! Not down!!

I'm sure you are correct, pth. I feel my comment was highlighting the lesser of the two sins!

This has woken up !......drilling to continue into target area ?.....could be the turnaround of the century here.....(I'm only dreaming)....

Let's hope you have a wet (oily) dream then rf!!! ;o)

Up 20p in 2 days.....

Something afoot here.....one hell of an increase here.....

Looks like I was right to buy some more about a month ago....