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 should add, if they ever get there!

looks like we will reach the bottom at 6p it could be a good time to buy then.

This made 31's a couple of months back.

I have copied the relebvent bits fully as I do not recall seeing it here.

http://www.dolmenstockbrokers.ie/reports/13%20June%202007.pdf

Todays Recommendation

Sterling Energy (16p) Successful onshore US drilling Stuart Draper
Target : 28p (24/08/06 ; previously 34p, issued 17/05/06)

Successful drilling : Despite the recent widespread stockmarket weakness, the share price of Sterling Energy has risen by 7% within the past month. This recent out-performance should continue over the coming months, driven by further progress in developing the groups onshore US and international portfolio of assets. The company recently reported a 2006 cash operating profit (EBITDA) of $56.2m, a more than quadrupling on the 2005 comparative of $11.6m. This strong cash flow is expected to grow further to c.$65m in 2007 and to c.$75m in 2008. There is major upside potential for the share price from the allocation of this cash flow to fund further successful low risk drilling to grow the groups 2p reserves.

Funding increase : The latest successful drilling, just announced, relates to the Thunder Stud well, onshore Louisiana, which has encountered multiple pay zones, and which will be production tested later this year. Even though these production tests will be necessary to prove the commercial impact of the discovery, based on the successful drilling of the former Whittier company since the start of 2007, the groups US bank facilities have been increased by $6.8m to $61.5m, which are in addition to further undrawn bank facilities of c.$19m and a group cash balance of c.$37m.

Proven reserves : Even assuming an oil price of only $50/bbl, the 8% Chinguetti holding and royalty interest is still worth c. 55m. Valuing the companys separate 5.28% Tiof royalty on 359m barrels, which remains unaffected, gives 60m, as does
its Tevet royalty worth c.5.5m, giving a total oil value of c. 120m. Sterlings Banda gas royalty in Mauritania is still worth 42m. The value of its proven and probable gas reserves in the Gulf of Mexico has doubled to 180m following the Whittier acquisition, as has its 3P Gulf of Mexico gas reserves risked at 50%, to 74m, giving a total gas value of 296m.

Major upside : When Sterlings liquid assets such as its Forum Energy 14.7% shareholding worth c.2.4m, and its new net debt of c.53m are also taken into account, the groups NAV increases to 365m, or 23.3p for each of the 1,566m shares
now in issue. We had previously conservatively valued Sterlings entire additional exploration licences at Madagascar, Gabon, Guinea, Bissau and Cameroon at 65m, adding a further 4.2p per share to our valuation, to underpin our current 12 month
share price target of 28p (75% further upside) : BUY.

TANKER does that comment mean you are buywell2 as well as ludlow3.

My you certainly get about!

i am niether when is this company going to give out some news,it is going down the drain.

Are the interim results going to be any good? Does anyone know?

The Whittier deal showed a one off loss in the prelims.

The interims should show a profit, remember although oil is at very high rates, their main reserves are gas which has been struggling of late.

They should turn in a profit but I can not give you figures and I won't guess.

Will they be any good?

I hope so, it's about time things changed here.


.

Any one know the reason for the sudden rise in Sterling Energy today?

it's only 1p and perhaps sp has come up out of the slime for air!

I don't know but it's 1.5p which is 15% and therefore not insignificant.

15% of bugger all is still bugger all unless you happen to hold at least 100k of them - and even then it's not much

Moving up ahead of interim results presentation next Wednesday 26/9/07.

cynic- under 10 pence to buy was a fantastic opportunity.

At 17.5% rise today alone since 10.30am that is very significant with the interims due next week and the likelihood of Oppenheimer have completed their sale of their notifiable interest now.

Time to wait and see what this is all about on the off chance you make a wrong call that people take note of.

Especially as there are two items that could significantly change the outlook of Sterling due now.

if you bought <10p, then you are indeed laughing, but i suspect most in here bought at an awful lot higher

They may have something to look forward to next week, lets be optimistic.

From another thread ..........

SEY 11.50 - 12.25p +1.875p

My Prediction of the Future CUP shape since yesterday is slowly forming today

Thought I would pop over and say hello.

How are we all? Is it the debt sorted or the seller being cleared out or thunderstud or a dead cat bounce? Figures should IMHO be good from SEY on Wends.

But as alluded to earlier something big needs to happen to get the juices flowing again on this one.

One last Premier have a prefered suiter for thier Mauritania assets and TLW are still keen on the prospects for Mauritania so not a dead duck yet.

good luck to all.

Tanker what an origional name LMAO hope you are double skinned.

Regards

good morning all! what's the story morning glory? i had a small uptick in P&L and was shocked to see it was from SEY!

how is the old team?

Rgds
PT

Hi prop.

Long time.

I think you will see us all here or here abouts, been in and out, but currently in.

Have to say prop this one did not pan out as expected within the time frame we foresaw back in 2003/4.

In reality it is in a similar postion as then, more diluted and and a similar or less share price.

Yes there are some good prospects in the offing, and there were then too.

Are you still holding?

i am but about a quarter of what i held then....

so what else is keeping you busy? i am still in PANR which is annoying but will come good. I am still playing alot in Australia and heavily involved in a few names there, very interesting.

it seems moneyam is a quiet place these days..

personally i would rather be in cash right now, too much uncertaity in the world...

Rgds
PT