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

Sp holding up well...so far....

so it damn well should with rest of market in recovery mode

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It's a big gamble this....don't put too much on but 2 ways of playing this ....a recovery for the sp on expectations and punters like myself, and the sp climbing back up to perhaps 80 or 90p before results or stay in long term and hope for a nice surprise discovery....

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I understand that H2S concentrations in Arab Emerates are about 30% ?
If SEY H2S is 5% that is pretty sweet gas I believe.
Am I talking hot air or what ?

don't know one way or another, but if the story is true, then assuredly SEY are shown to be a bunch of unprofessional nincompoops

Come on now Cynic - do feel so bitter - you will not appear impressive ifSEY come good. Remember Dana on a nearby block are primarily a gas exploration company, so plenty of sweet gas is not so bad.
I know a lot of MoneyAM bloggers will appreciate that, ie. " a lot of gas ".

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The removal of sulphur from gas and oil is very standard practice in the oil industry.
Are you joking or what ?

Also 5% is a low concentration - have you been in the oil indeustry ?

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Hi mnamreh - I understand that the H2S is generally left in the oil at the well head and shipped with all the other crap to the refinery. Otherwise it would require quite a lot of equipment at the well head. When the crude oil is shipped by tanker their is the possibility that the H2S will react with the iron of the ship hold and iron pyrites could form. If the iron pyrites meets oxygen from the air, it could ignite, therefore modern ships pump an inert gas ( usually nitrogen ) in the hold on top of the crude oil.

I am not an expert on this part of the oil and gas industry,perhaps many other know better, but I have a little knowledge of it, which is probably dangerous.

Good luck with your dealings = I have masses of SEY and a sore head at the moment.

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mnamreh - Thank you friend.

to digress - CO2 is a different matter altogether and is only recently in the headlines due to it being vented to atmosphere and thus adding to greenhouse gases ..... i can tell you quite a lot more on that subject if you/anyone is interested

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it's the same field ...... CO2 in oil refining is now being heavily targetted so that they "capture" the CO2 and then bury it in old mine shafts and similar ..... it is also being used at the wellhead to increase pressure in the reservoir and thus recover a larger % of the reserves ..... being totally cynical (moi???), i question the willingness of the oil producers - oh alright, the oil producing countries - to spend the money on this expensive technology, from which they see little return ..... for sure there will be a lot of noise about X's "green credentials" and how they are (willing to) spend(ing) billions (well a few 000 anyway!) to clean up their act etc.

i'm going to a specialist conference next week and there may be (yet another!) presentation on the subject, so I'll try to stay awake for it if there is ..... when i raised the Q last time about who or what countries might be willing to expend all this money for no return, it all seemed to go rather quiet

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no idea about carbon trading .... always looks very suspect to me - i.e. a tool for making money rather than reducing emissions and similar

CO2 is almost never transported in solid (dry ice) form ..... indeed, the prime use of CO2 is in food production - e.g. the bubbles in your coca cola or lager - and i cannot believe that CO2 produced in oil refineries can be made remotely suitable for that.

the usual way to move CO2 is either compressed and put in cylinders - only efficient for small quantities - or chilled right down under pressure until it becomes liquid ..... in this form, it is obviously much less bulky than as a gas and is moved in very specialised road barrels or similar ..... to keep the CO2 as liquid means that it has to be moved in a very sophisticated high pressure "thermos flask" - it's actually a double-skinned stainless steel barrel (+/-20/30k litres) with a vacuum between the skins .... in that format it will hold as liquid for about 90 days

perhaps i should have added that if the pressure is allowed to fall, the liquid will become gas once more