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

Adie, would think the RNS will come from HNR and PMO as the other drilling updates have done so far. But may get one from SEY.

SWW, notice the spike in HNR from 12.30 today. Hope you get your 20% or more, to go with your rum!

Yes I saw that too, which is why I am looking for 15%, today it is niwether up now down, or was not when I last looked, so I shall see.

I do not expect to lose on it though.

I am popping out to Australia now, back soon!

I'm back and they are shut till Monday.

3am in the Saturday morning.

Why can't they keep the same hours as us?

That's it, had enough!

The weekend starts here, see you all Monday!

Yaba daba doo!

for the last 2 trading days SEY has had all the MMs on the bid 6 v 6 - in spite of what on the face of it looks like many sells - what does that tell you. In addition, Merou looks like its coming good - is that the smell of burnt toast or shorters?

A bit more consolidation on the news for Merou 1

Starts

Baker Young Stockbrokers associate director Wesley Legrand said one of yesterday's big movers was Woodside Petroleum, which reached a record high. The stock climbed 72 or 3.5 per cent to $21.02.
"It was because of the investment community getting information about the potential of their Merou-1 wildcat well," he said.
...
http://www.thecouriermail.news.com.au/common/stor y_page/0,5936,11508570%255E3122,00.html

...
Baker Young Stockbrokers associate director Wesley Legrand said Woodside had rallied on news that its Merou-1 wildcat well could be a "gusher" similar to the Tiof and Chinguetti discoveries. Results are due next week.
Woodside reached a record high, climbing 72c or 3.5 per cent to $21.02.
"There is research around indicating it could be worth up to $1 a share to Woodside's price," Mr Legrand said.
...
http://dailytelegraph.news.com.au/story.jsp?secti onid=1265&storyid=2292984

...
UBS research showed the well could be a "gusher". Results are due next week.
...
http://www.theadvertiser.news.com.au/common/story _page/0,5936,11509766%255E913,00.html

Merou, if firmed up next week with an RNS and I expect thta to happen, then this shows exactly why you have to be in on any of these shares.

Woodside goes up $1Aus per share, HNR 40 cents Aus per share what will SEY do?

From Lloyd's List.

The stuff about Sterling is towards the bottom - tells us that Sterling won the favour of the Mauratanian govt by offering a seat on the board of the project.

*****

"MAURITANIA is looking to become more involved in the development of deepwater oil and gas resources off its coast after signing up to taking a 12% interest in Woodside's Chinguetti project.

Woodside Petroleum and its partners are planning to develop the Tiof oil field and Banda gas project over the next five years off Mauritania, on top of Chinguetti, which is due on-line before the end of next year.

On Tiof Woodside and its partners Hardman Resources, Roc Oil, BG and Premier are performing a production test and will complete it this week.
'Tiof is being tested and results will be known in mid-December when we will be making the decision to go for its development and whether the government will get involved,' said Zeidane Ould Hmeida, the country's Minister of Industry and Mines.

Tiof is thought to hold up to 380m barrels of oil reserves and Woodside has said it is considering developing the field in two stages.

The first of these is likely to be a ship-based early production system, while the second could be another leased floating production storage and offloading vessel.

Bergesen Offshore is likely to be a leading contender for the Tiof production vessels as it is working with Woodside to supply a leased FPSO for Chinguetti. This vessel will be installed this summer and will have a production capacity of 75,000 barrels per day.

The energy minister also sees an early decision to progress with the Banda gas field and begin planning of the country's first liquefied natural gas project.

'Woodside will be assessing Banda in mid-February and the data will be available by mid-March,' Mr Hmeida told Lloyd's List. 'We plan to meet the companies by the end of March to discuss taking the project forward.'

Banda is thought to hold 3-5trn cu ft of natural gas reserves that could be developed with a single-train LNG plant. There are also other gas discoveries off the coast and the associated gas from Chinguetti and Tiof to add to these volumes.
London-based oil firm Sterling Energy won the race to provide the Mauritanian government with finance for gaining the 12% stake and for providing technical assistance in forming a national oil company in return for revenues from Chinguetti.

It has raised GBP97m ($180m) on London's Alternative Investment Market and will use $130m as a letter of credit to the government, plus another $15.5m as a signature bonus.

'When our government bid the contract more than 300 societies and oil companies replied. Woodside's bid included the best bonus, but only Sterling accepted our request for a member on the project's board,' said Mr Hmeida.

'Sterling is a UK company and was present in Woodside's project in the past and knows the project.

'This way we gain a bonus, we stay on board of the project and are involved in the decision process and we do not take the financial risks.'

Mauritania will become an oil exporter from the end of 2005 and could be producing over 100,000 bpd in 2006, but will have to import all oil products as it does not have a refinery. Woodside is currently undertaking a 21 well drilling programme in its exploration blocks in the country with the West Navigator drillship and Stena Tay semi-submersible."

HNR bb.

Andy - 28 Nov'04 - 20:05 - 132 of 132


Rumours over the other side of a "gusher" at Merou, nothing to substantiate them, but worth keeping an eye on price and volume this week IMHO.

I believe these rumours eminate from the HotCopper website in Australia, so should be treated as simply rumours until something more solid is available.

Sadly, we now have confirmation, and it's another disappointment!

Details can be found by following the link below, shame!

http://www.asx.com.au/asx/statistics/announcementSearch.do?method=searchByCode&releasedDuringCode=W&issuerCode=hdr

Morning all.

Thank you Andy

People may I apologise for being taken in by a newspaper report that indicated the contrary to the news on Merou.

I have learnt here, probably what you all know already that I should not believe everything I read in newspapaers.

Please accept my humble apologies.

SWW, apology accepted but please stand in the corner for the rest of the day!

news is news and facts are facts. we all speculate and hear things but from various sources and often a pack of lies gets to snowball. i wouldn't think twice about it SWW.

c'est la vie.

Rgds
proptrade

SWW,

No need to apologise, IMHO, you were passing on what you had heard, nothing more.

SWW

Now a spanking is in order. I'll send a friend of mine around, her name is Betty Swollocks or is it Tabbie Flits. Oh it dosn't matter they'll both put a smile on your face.

MS

Thank you people.

Back to waiting.

;-))

HNR took a hammering on bad news. Will this affect SEY? Any views.

MS

Sells giving a wrong picture. There are Buys here. As usual you can't rely on these figures. Keep the faith this will happen in a year or so.

MS

Agreed.The buys are 17 and up

Glad I don't hold PRE. That's got to hurt.

MS