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 repeat "probably" for SEY is only a minnow and many many things can go wrong ..... and no, i don't have to be "in it" just now, though it is not impossible that i shall re-enter at some future date ..... in the meantime, it would do you no harm to watch that trend; even you must admit that it is currently precipitous, and that is rarely without reason (qv SEO!)

Oil that is, black gold, Texas tea....


I don't believe in Peter Pan
Frankenstein or Superman
All I wanna do is

Bicycle bicycle bicycle
I want to ride my bicycle

I think this has a fair bit to do with this drop, plus the rumours that have been scotched.

Sp still in down trend though.

15p is next support.

Will it get there?

The sp performance in the last five years was excellent and this pause is a very nice opportunity to buy. cautious investors can wait to buy when the trend has changed but there is nothing to be cautious about here as the earning power of SEY is excellent. now for those who got in at 30p, i think it was a wrong timing but there are too much values here now. Best luck

cynic,

SEY and SEO are like chalk and cheese IMO!

They do not compare at all IMO, one has revenue, profits, exploration possibilities, and a large institutional holder, the other doesn't!

I know which is which, I hope you do too.


Hardman have had an offer!


Announcements

A$1.47 Billion Recommended Offer for Hardman Resources from Tullow (25 Sep 2006)

Hardman today announced that it has entered into an agreement with Tullow Oil Plc for the proposed acquisition by Tullow for all of the shares in Hardman.

Andy .... just because Hardman has been gobbled up, it doe not remotely mean that it is open season for lots and lotsof minnows to be similarly swallowed (as one swallow does not a summer make!) ...... and yes of course SEY and SEO are totally different; partly a little stir, but nevertheless with some validity when related to trend.

Good morning cynic.

hi Seagoon .... are you stalking me? .. lol!

Not anymore.

I like what you do though.

Keep it up, it keeps feet on the ground.

can't cope with compliments! ..... too used to fielding abuse!!!

LOL

Yes, I may very well plough my HNR funds into SEY, as a top up at these prices seems prudent. IMO DYOR

Better future not far

Do not cry my little fish, SEY, though you have been forsaken for a while, they will all come back to you very soon, be strong and know that i will not let you down. Best luck

3D seismic programme results

RNS Number:4603J
Forum Energy Plc
26 September 2006

26 September 2006

FORUM ENERGY PLC

("Forum" or the "Company")





3D SEISMIC PROGRAMME RESULTS

AT SAMPAGUITA GAS DISCOVERY

INDICATES WORLD CLASS GAS ASSET





Forum Energy (AIM: FEP), the AIM listed oil, gas, and coal exploration and
production company focused on the Philippines, is pleased to announce that the
interpretation of the 3D seismic programme at the Sampaguita gas discovery
indicates a world class gas accumulation with potential reserves of up to 20 TCF
("Trillion Cubic Feet") Forum has 100% of the equity in the licence in which the
Sampaguita offshore gas discovery is situated. The block is located off the
North West coast of Palawan Island in the Philippines.



Results from the 3D seismic programme and its interpretation performed by
independent consultants, Count Geophysics Limited, confirmed a minimum of 3.4
TCF proven gas in place from sands tested in the 3 wells drilled to-date and the
extension of the structure to a possible closure of 290 sq. km giving an upside
reserves in these sands alone of 10 TCF.



Additional untested sands, which are known to contain gas, could double this
figure. The block also contains 8 additional leads which require further work
that has the potential to add a further 20 TCF in aggregate.



Forum is in the process of converting the licence to a service contract and
plans to drill an appraisal well as soon as possible.



Russell Harvey, CEO of Forum Energy Plc commented:



"We are extremely encouraged by the results of the seismic programme, which
confirm that the Company has an asset of great potential. We intend to push
forward with appraisal at the earliest opportunity to bring this gas field to
commerciality. Given the potential reserve size and proximity to the Asian
markets it is an ideal candidate for an LNG facility."

PSC deal in Kurdistan next month ???

DOW JONES NEWSWIRES
LONDON -(Dow Jones)- The Kurdistan Regional Government in the north of Iraq is set to sign oil contracts with companies next month, and is in talks with oil majors, its oil minister said Wednesday.
The KRG's Minister for Natural Resources Ashti Hawrami declined to give names of any companies that the KRG was in talks with, but said there was a lot of interest from oil companies of all sizes, adding that up to eight memoranda of understanding were pending and that he had begun talks with around ten new companies in recent months.
"We're already in discussions with companies ranging from the medium-sized to the big as well as talking to substantial ones," Hawrami told Dow Jones Newswires ahead of a London briefing on the region's oil sector.
"We have been talking to oil majors about specific areas," Hawrami later told reporters.

All,

Sey are mentioned in this article, which is the full article form the post above.

After the Oilbarrel presentation ladst week, they were going to meet up with the Kurdish delegation who were meeting companies in London for the week!

Harry mentioned the high prospectivity in Kurdistan, and that the targets were easy to see, and the only reason they were not already in production was that Saddam wouldn't allow them to.

I have the feeling that the kurds are going to go it alone on the oil contracts, and sod Baghdad.

I also have a feeling that the US and Turkey will ensure they are not deterred militarily from doing so. Having said that, if I were the kurds I would be training a small army though, just in case!

-------------------------------------------------------------

UPDATE: Iraq Kurdistan Oil Min In Talks With Oil Majors
Wednesday September 20th, 2006 / 20h24

(Updates an item timed at 1229 GMT throughout with quotes from anonymous company sources, detail, background and earlier comments from Iraq's Oil Minister Hussein al-Shahristani.)
By Selina Williams
Of DOW JONES NEWSWIRES
LONDON -(Dow Jones)- The Kurdistan Regional Government in the north of Iraq is set to sign oil contracts with companies next month, and is in talks with oil majors, its oil minister said Wednesday.
The KRG's Minister for Natural Resources Ashti Hawrami declined to give names of any companies that the KRG was in talks with, but said there was a lot of interest from oil companies of all sizes, adding that up to eight memoranda of understanding were pending and that he had begun talks with around ten new companies in recent months.
"We're already in discussions with companies ranging from the medium-sized to the big as well as talking to substantial ones," Hawrami told Dow Jones Newswires ahead of a London briefing on the region's oil sector.
"We have been talking to oil majors about specific areas," Hawrami later told reporters.
However the signing of any more oil deals in Kurdistan is likely to provoke ire in Baghdad. The federal government has long held that contracts signed without the approval of the central government should be declared void.
Iraq's federal Oil Minister Hussein al-Shahristani has said that all the country's oil exploration, production and export contracts should be handled by his ministry in Baghdad. There has also been talk of blacklisting companies that work in Kurdistan.
To date mostly small, independent explorers have invested in northern Iraq's Kurdistan region.
The KRG has signed production sharing agreements with companies including Norwegian oil company Det Norske Oljeselskap DNO ASA (DNO.NS), which is already drilling for oil and Turkey's PetOil and Genel Enerji. It has also signed a memorandum of understanding with Australia's Woodside Petroleum (WPL.AU) and Heritage Oil and the U.K.'s Sterling Energy.
Despite the risk that the federal government may not in the future recognize their contracts, these smaller companies are attracted by the region's greater security than the rest of Iraq, which is also reflected in its greater political stability.
Unlike the rest of Iraq, Kurdistan isn't fractured into three separate parts each with desires to go their own way. And since last year Kurdistan has had one unified government - the KRG - making it easier to do business in the more stable north.
In the rest of Iraq, foreign oil companies have been unable to secure contracts because of the lack of a federal petroleum law and the dire security situation. Political delays over the constitution and the formation of a government this year following December elections have also slowed the whole process.
The bigger companies have also feared being blacklisted and being unable to bid for the more lucrative possibilities in the rest of Iraq if they sign deals in Kurdistan.
Wednesday, Iraq's Oil Minister Hussein al-Shahristani reiterated in a statement that he expects the new federal petroleum law to be submitted to parliament before the end of this year.
He added that several oil majors are ready to start negotiations with Baghdad to develop fields even before the deal is passed.
However, Hawrami said he was eager to get on with the development of Kurdistan's hydrocarbon sector so as to provide much needed revenues for reconstruction.
He said the region's own draft petroleum law is ready to go before the parliament of the KRG this month or next, adding that he expected it to be passed by lawmakers in October.
"There's a vacuum (in the rest of Iraq,) and we need to engage these (oil and gas) resources through rapid development," Hawrami said.
Among the thorny issues surrounding Kurdish oil production within Iraq is who gets the revenue from the fields that weren't in production when the constitution was agreed last August - the KRG or the government in Baghdad.
Hawrami said that Kurdistan has no intention of withholding revenues from Baghdad from the new oil fields that would be developed in the undisputed territories in Iraqi Kurdistan.
But he added that it would not be without conditions.
"It makes sense to share (with the federal government) and we will share it, but with conditions. The industry must be structured in the way that we want it," he said.
Oil output from the undisputed areas of Kurdistan under the administration of the KRG have the potential to reach up to 1 million barrels a day within the next few years on top of around 1 million b/d from the disputed regions, Hawrami said.
This would necessitate the construction of a new 1 million b/d oil export pipeline as well as an export pipeline for gas. Hawrami said he would prefer a new pipeline to run alongside the current line to Turkey's port of Ceyhan, but didn't rule out the possibility of shipping the oil south if Turkish terms weren't attractive.
Although northern Iraq's oil reserves aren't as big as the giant southern fields around Basra, geologists say the North still has good potential, especially as the area is largely unexplored and modern techniques such as seismic imaging have never been used in Iraq.
The regional government estimates northern Iraq's reserves at around 45 billion barrels of oil and 100 trillion cubic feet of gas.
Executives from Royal Dutch Shell PLC (RDSB.LN), Eni SpA (E), BHP Billiton (BHP) and Statoil SA (STO) were among those at the briefing.
One executive from an oil major said that although Kurdistan was an interesting prospect it was still too early to talk about doing deals there.
"At this stage we're keeping an eye on what's going on there - we can't ignore it completely and need to be present in some form because all the other companies are interested too," the executive said.
-By Selina Williams, Dow Jones Newswires; +44 (0) 20 7842 9262; selina.williams@dowjones.com

In the mist of all the shorting rubbish that we have heard of late, it is pleasant to be in a position of not knowing what good news to put yesterdays rise down to.
Was it...
Todays news on Forum?
Drilling news any day from the GOM?
Buying ahead of PSC signing in Kurdistan next month?
Stake building for a bid?
Possible new licensing deals.

Hardman proved yesterday what happens when value goes unrecognised by the market. Lets hope that it has opened the eyes of the market to Sterlings prospects.

fido,

Maybe a combination of the above, rather than one single event?

Andy,
I have heard talk of new deals in North Africa, Tunisia and Cameroon. Petroceltic are doing good things in Algeria, making that area promising as well.
Can you add any meat to that rumer?

Does Sterling still have 28% of Forum Energy?

Is it 28% SWW? I thought it was just 14%. I'll have a search around and see what I can dig up.