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 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

Best to be out of this.....not lucky this company....

Desire find bottle water SEY find fizzy water,RF was thinking of a nibble at DES this morning that book looks ok.

Better switch over to the DES tread, this is looking dire here.

Holding around the 34p, worth a nibble as cash is 30p

Sterling (AIM: SEY), 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.

Apart from the cash is also producing oil at .......

Kurdistan Sangaw North 492km 53.33% (Operator)
Cameroon Ntem 2,319km 100% (Operator)
Madagascar Ambilobe 17,650km 100% (Operator)
Madagascar Ampasindava 7,379km 30%
Mauritania PSC A & PSC B 15,064km
Share of State back-in on Chinguetti Field

Mauritania appears to be cash generative

The other licences Madagascar (huge acreage) and Cameroon (near to Bowleven) are both highly prospective

EVO Note out today:
The first test following completion of the Sangaw North exploration well has yielded sub-commercial gas flow rates. The JV has elected to attempt two further cased-hole flow tests from the shallower Sargelu and Kometan formations in the Jurassic and Cretaceous respectively. These will each be completed over a 100m section and will take three weeks each to complete.

DETAILS The open-hole section, which included the Triassic Kurra Chine formation and the Mus and Butmah formations within the Jurassic flowed a combined 4.6mmscf/d gas per day of which 74% was hydrocarbon gas with the residual either H2S or CO2. In addition, 7,280 bbls of formation water were produced over the 12 hour period.

VALUATION AND RECOMMENDATION As of 31 March 2011 Sterling had $105m of cash on the balance sheet, equivalent to 29p/share. Sterling has consistently said it is looking to deploy this cash within exploration ventures in Africa, Middle East and Eastern Europe. We leave our target price and recommendation under review until testing at Sangaw North is completed.

bad drilling results are clearly contagious, SEY joining the list of EO, DES, XEL and others

I see the nuts from Brazil are about.,.

I see plenty of - Ballet Boys - about, with no muscles to crack, money to invest, balls to buy but plenty of diarrhea talk

XEL drilling results are not bad...just not as much as the market had hoped for...

I was meaning cynic, but lookin at pic you may be right.....WHAT drill results or are you on rewind???

StockMarketWire.com
Sterling, the independent oil and gas exploration, provides the following update for the Sterling operated Sangaw North block in Kurdistan (53.33% working interest).

Flow testing operations have been completed in the cased hole section of the Sangaw North-1 well.

During the first flow test, formation gas and water were observed in small quantities at surface but sustainable flow rates were not achieved. The Company believes that the Jurassic aged Sargelu formation does not contain a sufficient natural fracture network to support sustained flow.

Neither flow test produced hydrocarbons at commercial rates and the Sangaw North-1 well will now be plugged and abandoned. The operations to plug and abandon the well are expected to take approximately 2 weeks, after which the drilling rig will be demobilised from the location.

http://www.fox-davies.com/media/413854/sterlingflashnote06july2011.pdf

StockMarketWire.com
Sterling Energy Plc has announced its results for the six month period ending 30 June 2011 showing Group turnover decreased 22% to $9.5 million (H1 2010: $12.2 million).

However profit after tax was $6.5 million (H1 2010: profit of $0.1 million) and cash flow from operations was reported as $5.8 million (H1 2010: $3.8 million).

The Cash holding as at 30 June 2011 of $113.4 million ($100.1 million net of partner funds), with no debt.

Average net Group production decreased by 8% to 626 bopd (H1 2010: 681 bopd).

With regards to a summary of operational highlights over this period:

Sangaw North-1 exploration well in Kurdistan drilled to total depth of 4,190m; flow tests recovered hydrocarbons at non-commercial rates.

Going forward, in the Sangaw North block, onshore Kurdistan, an integrated interpretation of the 2D seismic and the data acquired during the Sangaw North-1 well operations will be conducted to determine the potential of the block prior to recommendations to the joint venture group on future activity.

The large Sifaka prospect in the Ampasindava block, offshore Madagascar, is ready to drill and Sterling awaits confirmation from ExxonMobil on the expected timing for the exploration well.

In the Ambilobe block, offshore Madagascar, Sterling is continuing discussion with OMNIS, the state regulator, with regard to the extension of the exploration period of the licence.

In the Chinguetti field, offshore Mauritania, production is declining at a significantly lower rate than previously observed supporting a field abandonment date over five years in the future given the current oil price environment .

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