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

I found this recent article from Barclays Stockbrokers om another site.

Plaudits to gheluvelt.
---------------------------

Barclays Stockbrokers 'smart investor' magazine received today, containing an article on the oil sector; excerpts follow:

"Paul Mumford, fund manager at Cavendish Asset Management admits that with so many [oil] stocks to choose from he tends to cherry pick ....

Mumford mentions Roc Oil (ROC) which is producing revenues from the beginning of 2006 in Western Australia. "They also have an interest off West Africa, an option in Angola and an interest in China. Some of these things are fairly low risk because they are just options, whereas if they exercised them, it will be because they have actually found something rather than just being speculative."

"Then there is Sterling Energy, which has got some Texas production. You have again got West African interest and, of particular note, it has a holding in Madagascar which it hasn't exploited as yet, but is one that the major companies could be interested in. There is also a company called Nautical Petroleum (NPE), which is a North Sea heavy oil producer. It owns blocks that already have oil in them and its exploration is basically to ramp up its production in the heavy oil area."

"If you are looking for a slightly larger play, you have got Dana Petroleum (DNX), which has got a decent cash flow and some pretty good prospects spread around the place," Mumford continues. "Then you have the larger ones still, like Burren Energy (BUR) and Premier Oil (PMO), which I haven't actually got a holidng in, but still make a pretty sensible investment."

The following were all listed as "ones to watch":
Sibir Energy, Sterling Energy, White Nile, Star Energy, Roc Oil, Nautical Petroleum, Dana Petroleum, Burren Energy, PRemier Oil, Total, BP.

Andy,
I wonder just how long ago that article was written. SEY has already done a deal with Exxon on the Madagascar licence.
Interesting also that he plugs White Nile - if ever a share was held up with hype and hope, then this is it.

source: yahoo finance

Mauritania set to start pumping oil on Friday

Click to enlarge photo

NOUAKCHOTT (AFP) - Offshore oil production in Mauritania is due to officially start Friday, the head of the country oil production company said.

Aboubekrine Ould Merouani, of the Societe Mauritanienne des Hydrocarbures (SMH) told AFP officially production begins Friday "but a period of two to three days of uncertainty is foreseen, even if technically all is set."

The government of Mauritania hopes to produce some 75,000 barrels of oil a day and expects to earn about 200 million dollars per year in oil exports.

Production should begin at the Chinguetti offshore field operated by Australia's Woodside Petroleum Ltd (Berlin: WOPA.BE - news) .

No official ceremonies are planned for the launch of the historic and lucrative business, which is set to see Mauritania join the club of other African oil producing countries such as Nigeria, Chad, Equatorial Guinea, Libya and Angola.

Of late, the government has been in dispute with Woodside Mauritania, a fully-owned subsidiary of the Australian-listed firm, over amendments to its initial deal with the ousted regime of Maaouiya Ould Taya.

Former oil minister Zeidane Ould Hmeida has been detained on charges of serious economic crimes and court proceedings opened this week.

Judicial investigators have also probed members of the former regime and parliamentarians over the amendments.

Mauritania's Prime Minister Sidi Mohamed Ould Boubacar this week renewed the military junta's pledge to ensure that revenues from oil and other natural resources benefit the local population.

"We want to avoid making mistakes committed in countries whose people have been unable to benefit from their natural resources by having a system to guarantee transparency in managing our mineral reserves," Ould Boubacar said when he set up a national committee to oversee the exploitation of resources.

Mauritania, where the military overthrew an unpopular regime in August last year, has pledged a return to open democratic rule in 2007.

Bon accord, n'est pas?

oui!

Some very big buys about this pm.

84 million as I write in 20 minutes.

As Euro says on the other channel, very bullish and should underpin the sp at 23p for a bit.

i don't hold sey atm i did- but that is some buying?. reasons?.any of you in goo?- interesting prospect http://www.goldoilplc.com

Nah.........

Only if the Missus catches me.

I reckon that the 84 million must be a buy and sell. A very big stake has changed hands. I reckon we'll see an RNS from AMVESCAP next week announcing that they are in for a few more.
As you say poo, it should underpin the sp at this level for a few days - long enough for the RNS announcing the start of pumping to take us north of here.
Happy days indeed.

This DOES NOT directly effect SEY.

POSTED FOR INFO ONLY.


Woodside in oil deadlock with Mauritania


February 24, 2006 - 7:14AM


Mauritania says it is making no progress in efforts to settle a row over oil contracts with Australia's Woodside Petroleum but vows the dispute will not threaten its emerging industry.

The poor, largely desert West African country is due to begin pumping crude in the next few days but the start has been overshadowed by a dispute with Woodside over production sharing agreements.

Mauritania, whose new military rulers took power in a bloodless coup in August, said amendments to the contracts signed by a former oil minister, now in prison facing trial for corruption, were illegal and must be annulled.

"We have tried every method for a whole month to convince, explain, discuss and negotiate with Woodside," Mauritania's oil minister, Mohamed Aly Ould Sidi Mohamed, told Reuters in an interview.

He said there had been no meetings to discuss the dispute since the beginning of February, despite Mauritania's invitations.

"We are waiting. We are the ones who wrote to them last," he said.

A spokesman for Woodside, which said it believed the amendments signed by the ex-minister were valid and binding, said that as far as the company was concerned negotiations were ongoing and it hoped to resolve the dispute amicably.

Mauritania says the amendments would reduce its share in oil revenues, give Woodside big tax breaks and an exploration monopoly lasting several years, which it says could cost the state $US1 billion ($A1.36 billion) over the next decade.

A new civilian government, put in place by the military junta that carried out August's coup, says the changes are illegal because they had not been finalised and signed by both parties when parliament approved them.

"Woodside has experience in Mauritania, it knows how things work," Ould Sidi Mohamed said.

"It knows that the law approves (contracts and amendments) once they have been signed. In this case they were signed well after the date the law was passed."

Both government officials and Woodside have pledged the dispute will not delay the start-up of the offshore Chinguetti field, operated by the Australian company and due to pump its first barrel in the coming days.

Mauritania, an Islamic Republic on the western edge of the Sahara, hopes to be pumping 300,000 barrels of oil per day within three or four years as new offshore fields beyond Chinguetti come on line.

But some analysts say if the dispute with Woodside is drawn out and goes to the International Chamber of Commerce - the designated arbiter if there is no agreement after three months - it could damage the country's image.

"Just before oil comes on line, after Woodside has spent $US1 billion ($A1.36 billion), suddenly people are questioning the rules of the game," one industry executive in Mauritania said.

"There is a message that goes out about foreign investment. What does this mean for political risk, for investment risk in the country?" he said.

Both Mauritania and Woodside have said they are keen to settle the matter without referring it to the ICC but the government says the ball is currently in Woodside's court.

"We have written to Woodside saying we are available to meet them but we have limited time to reach an agreement to avoid the ICC and we have heard nothing from them," said Takioullah Eidda, a lawyer advising the state.

"We cannot settle with ourselves."

At least 15 companies are searching for oil off Mauritania's Atlantic coast or under its eastern desert, but Ould Sidi Mohamed said the dispute with Woodside was a specific case and should not deter other investors.

"Just because Woodside is dealing with irregular documents does not mean that we are going to extrapolate this to other investors," he said.

2006 AAP

Production has started!


Mauritania's Chinguetti offshore oil field starts pumping oil
AFX


NOUAKCHOTT (AFX) - Mauritania has started pumping crude oil at its Chinguetti offshore oil field in the Atlantic Ocean, making it Africa's newest oil producer, state oil company Societe Mauritanienne des Hydrocarbures (SMH) announced.

'The production of Mauritanian oil effectively started on Friday at the offshore Chinguetti oil field,' 80 kilometres (50 miles) southwest of the capital, SMH said in a statement.

The daily production is expected to reach 75,000 barrels of oil and Mauritania hopes to earn some 200 mln usd a year from exports expected to kick off around March 20.

Hardman Resources Ltd has a 19.01 pct stake in Chinguetti. Australia's Woodside Petroleum Ltd, the operator has 47.83 pct while BG Group has 10.23 pct, Premier Oil 8.12 pct and Australia's Roc Oil 3.25 pct.

The Mauritanian government holds the remaining stake of just under 12 pct.



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Great news Andy,surely now th SP will start its northward journey?
cyril

Great news. And on a day when a very large stake of over 40 million shares changed hands. Interesting times for SEY. Roll on Monday!

A milestone in SEY's development. It's been a long haul to get to here. Where do we go from here on the share price? I'm over 100% (no boast intended) but surely these have a multiple of 3-5 in the next two years? Any informed comments?

As we had a bit of a French Day earlier.........

DEMARRAGE DE LA PRODUCTION PETROLIERE DANS LE PROJET DE CHINGUETTI

La production prolie a commencdans le projet prolier de Chinguetti oppar Woodside en
Mauritanie (Afrique de lOuest).
Le raccordement, les essais et la mise en route de linstallation flottante de production, stockage et
transfert du prole, la Berge Helene (situ environ 90 km au sud-ouest de la capitale
Nouakchott), sont maintenant achev. Lors des semaines qui viennent, on sattend ce que la
production augmente ruliement. Le niveau de production maximum du projet est denviron
75 000 barils par jour.
Le projet de Chinguetti, qui est oppar Woodside Mauritania Pty. Ltd., une filiale cent pour
cent de Woodside Petroleum Ltd., est situlintieur du Pimre dExploitation de Chinguetti
dans la zone B du Contrat de Partage de Production.
Ce projet a fait intervenir des denses de capital denviron 720 millions de dollars US et
comprend six puits de production, cinq puits pour la rnjection deau et un puits pour la rnjection
de gaz.
Le champ, qui a des rerves estims environ 120 millions de barils, a douvert en 2001.
La Berge Helene est un navire de 275 000 tonnes amarrpar environ 800 mres de fond. Le
navire a une capacitde stockage de 1,6 million de barils.

SWW,

amitie,

tres bien, bon chance avec SEY!

niceonecyril,

I would hope to see some positive movement in the shareprice now, we have waited patiently for this moment.

This should remove any doubts and hopefully the market will repsond in a positive way.

SEY still have a couple of exploration projects on the go, so we may hear news at any time.

as we are having a french lesson at the mo.... whats the translation for talking 8oll0x

vous parlez bolleaux

bolleaux?