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 know what you are saying. I am just annoyed with myself for letting my losses here increase to the point where it's now better to stay put and ride the bad times. Poor decision making on my part.

HARRYCAT - Same applies to me - too late to sell now

Lets give it a few more days -
I am still hopefull now they are almost down to jurrasic / triasic levels
and they have promising gas and there still may be oil down below.

It's up a fraction......if the sp starts to move up fast ....it would be a sign that they have encountered something.....

Sangaw North #1 Well
The side-tracked wellbore of Sangaw North #1 well has been drilled to a depth of 3,360 metres, into the top of the Jurassic formations and at a depth above where the influx of gas was recorded in the previous wellbore.

A liner has been run and cemented across the open hole interval with the liner shoe at approximately 3,340 metres.

The Company now plans to drill ahead and evaluate the Jurassic formations to a well depth of 3,660 metres and estimates this will take approximately one month. During this section, the well is expected to encounter the formations from which gas containing hydrocarbons and hydrogen sulphide entered the well in the previous wellbore. Operations are being conducted using drill pipe resistant to the effects of hydrogen sulphide.

The joint venture partners in the Sangaw North Production Sharing Contract ("PSC") may elect, in the event of encouraging results, to drill further to evaluate deeper Jurassic and Triassic formations.

Petrophysical logs have been acquired across open-hole Cretaceous intervals below 2,400 metres, the base of the intervals logged and flow tested in the previous wellbore. Preliminary evaluation of the logs acquired in the current wellbore, together with hydrocarbon shows and other information acquired while drilling, indicate the presence of hydrocarbons within these deeper Cretaceous intervals. A detailed analysis of all the data acquired is being undertaken to identify whether flow testing of certain intervals may be warranted. Flow testing of Cretaceous intervals, if undertaken, will follow any flow testing that may be undertaken in the Jurassic and Triassic intervals after they have been drilled.

Whendo we expect some news about the well?

RNS FD resigned.

Don't tell me that they've hit the jackpot....miracles can happen.....sp rising....

lol up & down again as expected nice little earner

usual t/o rumours for sey - which as it stands not unlikely

i note gkp has a lot of shares on loan right now - keep an eye on knoc movements - 3 t/o there being muted - dreamers quoting 5 + LOL!

nice rise today!

and there's sure not many of them about on this very sticky day

very true - next rns should be cruicial here - strange day today all round really - kind of went nowhere - look forward to tomorrow - took the opportunity to top up a few places like otc, rrr - rrr may reverse a little more but happy at this afternoons prices - see this as a blip for them / rgm etc

Not the most encouraging rns.,.

It is a gas discovery, but how much gas ?....

Kurdistan Operations Update
Sterling (AIM: SEY) provides the following update for the Sterling operated Sangaw North block in Kurdistan (53.33% working interest).

The Sangaw North-1 well has been drilled to a total depth of 4,190 metres, within the Triassic Kurra Chine formation. Wireline logs have been run across the open hole section and are currently being interpreted.

The joint-venture partnership has elected, based on gas shows while drilling, to conduct a flow test across the open hole section. The flow test, including preparatory operations, is expected to take approximately three weeks to complete. Further flow testing may be undertaken depending on the results of the first flow test and interpretation of the drilling and petrophysical data acquired in the well.

Large drop on the last few days and just earlier a spike down to 40p, due for a bounce back to 47p and then 50p, maybe all that today

today as expected after news - will come back in a few weeks

prob bit more south to come before cheapo sp

yeeeeeeeeehaaaaaaaaaaaaaaaaaaaa

gas - arggggggggggggggggggghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh nooooooooooooooooooooooooooooooooooooo we want oil!!!!!

will buy when drops further

On 24 May the news was that they are doing wire line testing, and a test flow on the open hole part. They say it will take about three weeks.
That will bring us to next week. So there may be more news soon.

Heritage to the north have gas and condensate and I understand there is the same to the south, plus they already seem to have gas flows.

As Germany is moving from nuclear to probably gas, and as the gas market is now tightening, the gas should be saleable. It needs to be connected into existing gas pipes which cross Turkey etc. So the gas and condensate should have a value.

SEY is presently valued at the value of the cash it has in the bank I think.
There seems to be nothing in the share price to allow for discovery potential.
Remember they also have interests offshore Muritania, Cameroon and Madagascar.

Should be interesting to see what will happen shortly ( ? next week or thereabouts ).
Plus are they going to drill more in Kurdistan ?

Any comments ?

Just depends on flow rates : sp could quit easily double if a large gas discovery was confirmed.

StockMarketWire.com
Sterling, the independent oil and gas exploration and production company with interests in the Middle East and Africa, provides the following update for the Sterling operated Sangaw North block in Kurdistan (53.33% working interest).

A flow test has been completed across the open hole section of the Sangaw North-1 well between 3,338 metres and 4,190 metres. This interval contains target horizons in the Jurassic Mus and Butmah formations and the Triassic Kurra Chine formation.

The well flowed at a stabilised rate of approximately 4.6 million standard cubic feet of gas and 7,280 barrels of formation water per day during a 12 hour flow period through a 1.5 inch choke with a wellhead pressure of 470 pounds per square inch. Approximately 74 per cent of the produced gas was hydrocarbon gas with the remainder comprising 24 per cent hydrogen sulphide and 2 per cent carbon dioxide.

Not looking good Harry still in Auction