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

all,

but PRE's market cap is much smaller than SEY, hence more value to them (IMHO)

Some fairly decent size trades today on SEY!

proptrade, sceptical about what?

Half ownership?

Not too sure, my research only mentioned Sterling in the PRE result in respect of the rig.

I have ahd a look at the High Island site, but coukld not find enough detail to say who is working which bit, so unless Sterling say it is theirs, then I suppose we should assume that is not.

thats what i mean. any discovery would be simultaneously released by both companies. maybe just a clitch somewhere?

Fair Doos to that.

Some tasty tradesgone through the market this afternoon, not sure what to make of them personally.

On the face of it, there is a very large sell rollover, but who knows?

A 1m T trade through at the end of the day. Hopefully a good start to the day tomorrow. Some good large buys through today.

Anyone have any thoughts about these trades at the end of trading?

20/07/04 17:25 16.5 3,750,000 O 16.25 16.75 ? 6,755,457 381,078
20/07/04 17:25 16.57 3,750,000 O 16.25 16.75 Buy 6,755,457 381,078

All where not stated likely to be buys.

6m buys, a few thousand sells and 4m unknown, perhaps buys, looks ominous.

Outside of normal market time and ordinary trades.

Odd!

We have all seen big buys before at the tail end of trading, that is how this thread started!

I would always suspect Institutional Buys for such amounts, however SEY were not the only Company interested in Fusion Oil & Gas. The other parties were rumoured to be South American, (Mexico ?), who liked the portfolio that FOG possessed.

Easy to speculate, the price now is not really that far different from the 10.5p * 3.5 that Sterling paid, and in my opinion still under by a long way what it should be.

Investec bought millions of shares in similar amounts as above on the way to the merger, all of which they made available to Sterling. I tracked them at the time under Rule 2.10

I should say that a friend who knows, priced up the combined assets just after merger and gave me a price of 35 to 38 pence per share as they stood then. Whether he be right or wrong I would not know. That was why I held with confidence right up to now!

I would always think that there is a chance that the Mauritanian block could be bought up.

The Contenders being, Woodside, or Hardman, or British Gas, (recent buy-in), Premier Oil. I have dismissed ROC Oil as a small fry but you may know different. Any one or more could find themselves a target to be swallowed by the others.

If that happened, I think I would be sorry, but at the moment SEY is a Sterling Strong Buy IMHO.

You either like what I say or hate it, but this is how I feel, there is mega money to be made long term if SEY remain SEY.

Enjoy the ride!

Back to the top ;-))

SWW,

Well I guess we'll see in the morning, I saw them as a short rollover, but hopefully I'm wrong!

Could this be the reason?

Sterling Energy PLC
21 July 2004



Sterling wins 2 new Exploration Licenses in Madagascar



Sterling Energy plc has been awarded a 100 per cent interest in two new
exploration licenses offshore northwest Madagascar, covering some 34,000 km2 of
undrilled basin. In both blocks the initial commitment is to conduct geological
studies with seismic acquisition expected to follow in 2005 at Sterling's
option. Following this, Sterling has the option to extend each license by
drilling an exploration well. The total license term in each case is 8 years.
In the event of a commercial discovery, a 25 year production license will be
granted.



The Ambilobe Block covers an area of 20,800 sq kms of the Ambilobe Basin at the
very northwest point of Madagascar. Water depths are mostly below 1,000 m. This
area has been licensed twice in the past 15 years, once by Maxus and more
recently by Triton. Accordingly a large 2D seismic data base exists and leads
have already been identified. Both companies left following corporate
restructuring. The new Madagascan government has worked hard to improve the
investment climate over the past two years, and Madagascar now offers a much
improved business environment.



The Ampasindava Block covers an area of 13,147 sq kms in the northern Majunga
Basin and lies immediately to the southwest of the Ambilobe Block. The southwest
limit is immediately adjacent to the block held by Vanco which is the only other
offshore license in the region, and which has recently been farmed out to
ExxonMobil. Water depths range from shallow to around 3,000 m in depth. The
block is covered by only a very small amount of 2D seismic close to the coast
and is therefore almost virgin territory. Sterling's aim will be to demonstrate
the potential for the extension of plays identified in both the Ambilobe and
Majunga Basins on either side.



Sterling's Exploration Manager, Andy Grosse said; 'We are delighted to have been
awarded these two exploration licenses after many months work. These are very
large unexplored areas in which all the necessary components for petroleum
reserves are already established. Jurassic age source rocks are proven in the
onshore Ambilobe Basin and good quality reservoirs are also exposed onshore. The
existing seismic provides plenty of evidence of sizeable structures. We believe
that Madagascar has been neglected mainly due to past concerns about the
investment climate, rather than fundamental exploration potential. The recent
farm-in of Exxon/Mobil to the Vanco block immediately next door to ours may
signal a significant change in the industry view.'



A map showing the location of the two new licenses can be found on Sterling's
website.



Sterling produces gas in the Gulf of Mexico and has a broad portfolio of license
interests in West Africa where an extensive carried drilling programme is due to
commence next month in Mauritania.



For further information contact:



Harry Wilson, Chief Executive, Sterling Energy plc: 01582 462 121

Nigel Quinton, Operations Director, Sterling Energy plc: 01582 462 121

Allan Piper, First City Financial Public Relations: 020 7436 7486
077 3606 4982

Rob Collins, Evolution Beeson Gregory: 020 7071 4311

Immediate pre market open rise of 1/2p.

Already new buyers at 17.4P.

Nice RNS, very positive for the longer term IMHO.

the story gets stronger by the day. i think 20p is a short time away and once drill results come through....who knows.

the company is pushing all the right buttons and the RNS this morning has enourmous potential.

time to add again i think....

Morning all,

Excellent start to the day after yesterday's strong ending. Good to see new buyers coming in. Definitely a long term hold for me here.

proptrade,

I agree, and I have topped up again this morning, "go with the flow" seems appropriate here!

I think the price will go to 20p short term, but will need some decent news to breach it IMHO.

Several wells are being drilled, so we MAY get that news!

Just found this snippet on the FT site:

Sterling Energy was 4.6 per cent stronger as it won two new exploration licences in Madagascar.

We are on the front page here in leaders and Laggards.

Oh, how nice to be noticed.

Sterling Energy gained 4.5% to 17.25p on news that the company has won two exploration licences in Madagascar. The Ambilobe block covers an area of 20,800 square kilometres of the Ambilobe basin at the northwest point of Madagascar, while the Ampasindava block covers an area of 13,147 square kilometres in the northern Majunga basin and lies immediately to the southwest of the Ambilobe block.

nice spots by all. thx.

i do agree with gavdfc that SEY may need a push to get through 20p (ie positive drill news) but the reality is that drilling is about to commence AND there are multipile targets over multiple blocks in multiple locations....

a multi bagger perhaps????

(sorry i am in an excitable mood today!)