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

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 .

.

.

Sterling Energy Plc ("Sterling" or the "Company") is today issuing its Interim Management Statement for the period beginning 1 July 2011.

HIGHLIGHTS

Production, net to Sterling from the Chinguetti field, averaged 622 bopd for the third quarter 2011 (Q3 2010: 621 bopd).

Adjusted EBITDA in third quarter of $1.7 million (Q3 2010: $2.8 million) (unaudited).

Profit after tax in third quarter of $0.05 million (Q3 2010: profit $3.1 million) (unaudited).

Cash as at 30 September 2011 of $105.6 million (unaudited), including partner funds of $1.6 million.

Farm out of the Ntem deep water block, Cameroon, expected to close by year end.

Dr Philip Frank appointed as Exploration Director on 3 October 2011.

Angus MacAskill, Sterling's Chief Executive, said:

"We are pleased with the progress made towards introducing a partner to the Ntem block in Cameroon and expect to complete the process by the end of 2011.

Following the disappointing results of the Sangaw North-1 well in Kurdistan, we continue to integrate all the information from the well to determine the remaining potential of the block.

The focus for the Sterling organisation is the acquisition of new ventures whilst remaining ready to progress our existing assets once the in-country situations allow."

.

"Very disappointing".......more like bloody hopeless or even total cr*p, imo.
I should have sold out when the share consolidation was looming. Quite obvious now what the reason for that was.

You might have to take a bad loss on this like me and may I suggest put the balance into either FPM or PVR....both are looking very, very promising....

I'm gonna just sit on my holding for a while longer, no loss to take really as was only holding profit in shares.

Sterling (AIM:SEY), the independent oil and gas exploration and production company with interests in the Middle East and Africa, is pleased to announce the following update for the Sterling operated Ntem block in Cameroon.

Sterling has completed a farmout agreement with Murphy Cameroon Ntem Oil Co., Ltd "Murphy", a wholly owned subsidiary of Murphy Oil Corporation under which Murphy has been assigned a 50% working interest in, and operatorship of, the Ntem concession contract (the "Contract"). Sterling retains a 50% non-operated working interest in the Contract. As consideration, Murphy has paid to Sterling a contribution towards past costs and is committed to fully fund joint operations in relation to the current phase of exploration under the Contract which includes the drilling of one exploration well.

Ntem is a deep water block with water depths ranging from 400 metres to 2,000 metres across the block. The work programme is currently suspended under the force majeure provisions of the concession due to an overlapping border claim between Cameroon and Equatorial Guinea. The Company believes that both countries are working to resolve this issue.

.

.

.

.