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

Morning all. Interesting news, wonder if and what the deal will be. Should be an exciting start to the day!

It's 8.10am, the mid is 20p, and it's time to enjoy the ride!!!

Mean while I am off to the sea wall for a dog walk.

Over 3m in the first 30 minutes, nice heavy volume.

Rumour going around that the deal is to commercialise/part finance the Cameroon find as it is much bigger than initially expected (though if they havent drilled yet i dont know how they know this)

gotta love monday morning!

Yep a good start to the week! As for Cameroon, don't think they have done any drilling there yet. But they do have 3D seismic data.

From Evo's last broker note:

"Again seismic acquired by Amerada prior to withdrawl from the area. Sterling has reprocessed the 3D data and developed a prospect inventory with up to 1b barrel unrisked potential. Looking to farm out. Data room opening in June 2004. Deep water permit."

So perhaps they have done the analysis on the 3D and it looks much better than they thought. If it's really good, then maybe they won't farm out but do the work themselves. And, if it's offshore, then would be more expensive than drilling onshore hence the need to do the rounds of the banks for extra financing. All just my thoughts of course.

Just out:

Sterling Energy PLC
25 October 2004



Sterling Energy plc ('Sterling' or the 'Company')


Statement re. Press Speculation



The Board of Sterling notes yesterday's press speculation about a possible
substantial transaction and the Company's share price movement today. It
confirms that it is in advanced discussions concerning an investment in West
Africa.


A further announcement will be made when appropriate.


Enquiries:


Rob Collins, Evolution Securities Limited:
020 7071 4300

Allan Piper, First City Financial Public Relations:
020 7436 7486


This information is provided by RNS
The company news service from the London Stock Exchange

good spot....could fuel these a few spreads higher. investment in west africa? acquisition?

Yippee!!!!!!!!!

I am back, and the price did not fall while I was out.

I have bailed on PRE, as I note an article for the second time in the Times saying that the Bolivian Government are under pressure to Nationalise the Gas discoveries.

BP and Total have large assests in Bolivia, fortunately the mm have not yet put 2 and 2 together for PRE who also hold a large share.

I know it should have gone up further with the Danbury Dome about to reveal it's secrets, bvut money in the bbank is exactly that, money in the bank.

I don't need to risk that profit with this one going so well.


Righty, brunch!!

Well not just a rumour now. Could do with some meat on the bones now after the RNS! Exciting times! And another drilling update tomorrow.

absolutely. the only thing is the word "investment". seems like SEY is doing something as opposed to someone coming in? speculate and speculate...i think i need a lie down...

A rights issue might calm everyone down a bit

There's a subtle difference between a heavily dilutive rescue rights issue to stave off bankruptcy and an institutional placing to fund a growth and profit enhancing purchase.

True - Pru?

Well said Hilary. Surely this can only be good for us. I don't think that institutions would back any deal if they did not think it would be a good deal for them and us.

Also, from reading other BB's, it would appear that we get a write up in this weekends Momentum Investor, but I can't confirm this.

you can hardly mention Pru and SEY on the same post. deeply disc rights to stave off some serious internal and external issues versus a placement/rights to fund a drill programme to access proven reserves. obviously drilling has its risks but with all mineral speculation there is always an element of heavy investment to access the far far greater rewards.

hilary, i am 100% behing u on this one.

Lets keep focused here please.

We don't know for sure what the excitement is all about.

We will evenually know, but for now, things are still looking very rosey in our garden, and lunch time is approaching fast.

Enjoy the days glow people!!

NOW A FACT...............SHOULD DO WELL TODAY

Sterling Energy PLC
25 October 2004



Sterling Energy plc ('Sterling' or the 'Company')


Statement re. Press Speculation



The Board of Sterling notes yesterday's press speculation about a possible
substantial transaction and the Company's share price movement today. It
confirms that it is in advanced discussions concerning an investment in West
Africa.


A further announcement will be made when appropriate.


Enquiries:


Rob Collins, Evolution Securities Limited:
020 7071 4300

Allan Piper, First City Financial Public Relations:
020 7436 7486


This information is provided by RNS
The company news service from the London Stock Exchange

morning....you heard about JFK?

2m more buys than sells currently. Where do the MM's get their stock from when this kind of thing happens I wonder?

Doubled first thing and hoping for great things.

Good luck all.

CP