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

cost you 6 a month though

That will do me.

Better than here of late.

Interims are excellent

Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas exploration
and production company operating in the Gulf of Mexico and Africa, today
announces its 2006 Interim Results together with an update on progress and
outlook.

HIGHLIGHTS

First half 2006 turnover up 263% at 24.5 million (H1 2005, 6.7 million:
year 2005, 13.6 million)

Net profit up 159% at record 4.9 million in first half 2006 (H1 2005,
1.9 million; year 2005, 2.1 million)

Record earnings per share of 0.34p (H1 2005, 0.13p, year 2005, 0.15p)

Record cash inflow from operations of 15.8 million H1 2006 compared with
outflow of 11.8 million in first half 2005 (year 2005 outflow of
7.4 million)

Record H1 2006 production of 4,671 boepd, up 175% on H1 2005

Average Group realised sales prices, after hedging costs, of $51.86/boe
(first half 2005 $40.78/boe)

Unrestricted cash of 15.5 million at end of June 2006 (end 2005:
7.6 million) and undrawn bank facility of 4.9 million. Increased since
by approximately 7 million

First oil produced from Chinguetti field on time in late February 2006:
operational uncertainties about field productivity and future development
plans reduce internal 2P ultimate field reserve estimate by 43% to
80 million bbls

Internally estimated Sterling Group 2P reserves of 16.6 million boe at
end June 2006 (December 2005: 21.3 million boe)

Drilling underway: 5 wells expected over the second half, 4 in US with
potential to double reserves there

Carried second half exploration well in Mauritania

Tiof and Tevet development proposals awaited: Sterling royalty interest
has no development cost and cost benefits could accrue to Chinguetti

2D survey in Madagascar being processed: Exxon to become operator of
Ampasindava block, contiguous to its other offshore licences where
an exploration well is expected in late 2007

Planning for mid-2007 well offshore Gabon on track (20.57% interest, 18%
carried) with internally estimated upside of net 10 million bbl

Two wells offshore Guinea-Bissau on track for mid 2007: internally
estimated upside of up to 15 million bbls net (5% option to back-in
after the first well)

Progress continues on Kurdistan PSC and local office being set-up



Harry Wilson, Chief Executive of Sterling Energy Plc, said:

'Our position continues to strengthen with a now sizeable and growing cash
position and an active and largely carried exploration portfolio. We have seen
excellent progress on some potential high impact projects. Over the next year
we have 8 wells planned, any one of which could be significant. Alongside this
activity, we continue to seek new drilling opportunities and production
acquisitions that can bring significant upside potential to the Group.'

Looks good to me.

Should look good to everbody Goal. All we need now is for the sp to start trekking north. Surprised we have only got +1p on those results!

All,

Yes excellent results considering the problems encountered at Chinguetti, IMO.

Now they need a good presentation at Oilbarrel tomorrow, and we may see the price move back towards the 20p level.

Is anyone here going to Oilbarrel?

A presentation for financial analysts will be held at 12.30pm on that day at the
offices of Citigate Dewe Rogerson, 3 London Wall Buildings, London Wall, EC2M
5SY.

this is today

From hhhold on TMF.

Why has Sterling drop from 32p to 16p now?

Excellent results but a really disappointing sp performance today which I have to say has really astounded me.

this just an opinion

just read a bit of worrying news on another bb somit about sterling and the gov looking at the deal sterling has with them

dont know if its gen but worrying if it is

Well as promised, I liquidated again today.

Enough is enough and I will not be back this time.

This Company deserves better than the treatment it is getting from the Market, but really I suppose I can see why it is held back.

Over on advfn is posted an item which shows the Mauritanians are getting restless, and name Sterling is used in the same sentence as not very transparent and not very justifiable conditions, in respect of the share of Chinguetti royalties.

That's enough for me, that is why I sold up last time around.

http://www.beta.mr/editsept06.htm#a18
Oil: And the dream became nightmare ................... The share which returns to him after having withdrawn what is allocated to the partners like refundings of the initial investment, and especially the share of Sterling which had bought 9% of the share having to return with the SMH under not very transparent and not very justifiable conditions, the share of the country is unimportant. Especially that the rules of marketing fixed with the trader Vitol, were badly discussed even if they were the subject of a cancellation which had, in its time, addition with the impression of thieb-thiib which already the department of oil released. If one adds to that the rise continues prices of hydrocarbons to the pump, it is necessary to worry for the days to come. There is not that the incompetence and the bad faith, there is also pitches it those which are occupied some. The N315 Platform Of the 11/09/06 "

Chart on 11/9/2006



Loosely the Mauritanians expected more from Chinguetti and they have not got it, at the same time Vittoil is stiching them up for petrol prices at the pumps, and they dont like it.

Add to that the fact that they are having to pay their share of exploration development and production costs for Chinguetti, and they probably dont earn as much as they thought thewy would, and wont do for some time imo.

who was this piece written by?

This web page is the spokes page for the Government.

"Technical engineering and design department and financial Analyses "

Thats what they descibe as their brief.

I dont know if it is Government run, but it reports on Government matters meetings, briefs etc.

sea do you know poo bear by chance

Yep.

Great freind of mine.

We live together in my head.

Are you also Fred1new

no

im df2

Okay.

Good luck deadfred, I'll be looking at arc.

there somit to see seawallwalker imho

as usual dyor but im in big time at these prices so are most of the directors and another thing about this company is this when security issues make the oil market go all over the place it means more work for arc (lol)

anyway good luck seawallwalker hope to see your posts again

very positive BUY post in tomorrows IC.
highlights include confirmation of continuing Institutional support, repayment of the mauritanian govt credit facility and 45 mill net cash by year end.

But why does the sp still languish and decline?