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

SEY will make similar waves. i think this deal has transformend the companies prosepect. we haven't discussed this for a while but does anyone out there think that in this environment we could see the majors start coming in to pick up a few of the minnows??????

How is this for a reply

Shares Mag(SEY) - 18.25p BUY

Old favourite Sterling remains a buy having first been tipped at 6.5p on 24 April 2003 and updated several times since - most recently on 13 May 2004 at 15p.

One wet hole one dry hole from the Mauritannian drilling programme looks reasonable but the big reason for buying the shares is the revenue sharing deal which will allow Sterling a bigger slice of revenues from the Chinguetti Field by funding the governments 12% stake at a cost of 97 Million.

The ease with which Sterling raised the money through broker Evolution speakes volumes for it's City standing. The 30p target next year remains bright, probably achieved through being taken over. The PE should fall to 16 in 2005.

Hils

quite a change of stance from "a quid by xmas - fill yer boots"

OT - see DNX have been promoted to the FTSE250 - looking forward to the day they enter the FTSE100 lol

Ey.............

Sold DES just in time.

50p is being touted as where it should be.

SEY a takeover?

Always on the cards.

PMO would want them first to absorb the revenue they will take off them.

i really hadn't seen the Shares comment...as you said, great reply. maybe we will see some t/o soon in the sector.

quid by xmas...bucket of salt with that as always but we are already looking at a serious mkt cap company right now...that 30 to 50p level in achievable

Nice one,SWW.
PS Can I borrow the lucky undies(mmmmm maybe not) or whatever it is your using . At this rate I might need them.

i wonder if the powers that be at MoneyAM have a thread of the year...this one really amuses me and i have to say covers just about everything without taking its eye off the ball.

lucky undies...lol

sandrew64

Funny.

I wrote a "funny" reply to a poster and cancelled it which clearly stated that I use such tricks as lucky charms, belief in Leprechauns and Pixies in share dealing.

All those charts and things can be useful but the EVO thing is a compete mystery to me and I want it to remain so.

Too dangerous to know too much, I might lose money!

what EVO thing?

Go back to hils posting.

Pay attention prop!

It was 1585 posting

Well...I'm a kinda fly through life by the seat of my pants gal. Which tends to work for me.....just kinda hurts when you hit a few walls!

sandrew64 we all have our own ways, who is to say yours is wrong?

We all hit walls.

i saw hils thing, did you see my response?

post 1593

Seen it thanks.

Nice one.

Go out to the shops for a while and come back to 20 posts, nice to see. Luck undies... Lol!!

Prop, as to your point re minnows being taken over by the majors, agree that it will happen IMO. As to who takes who and when will be interesting to see. Do feel that we are positioned well for a takeover at some time in the future. If we can double our production in the GOM next year then surely that would be attractive to someone. Throw in what happens in Mauritania, the increase in revenue from Chinguetti from 2006 and any other possible activity there. All adds up to a nice little asset to someone.

Also, we have other prospects in the pipeline for next year as we all know. If they come up trumps then that will only add to what we have already. Once consolidation in the sector begins, will be very interesting to sit back and watch the action.

Chilli beef and fried rice for tea tonight.

nice post gavdfc.

out for a big lunch at the RAC and then a bit if japanese this evening. i thing the december gastronomy is starting early!

Yummmm,haven't had Japanese for a long time. Must drag myself away from this screen. Roast chicken in the brick tonight. Do I just chuck it in that brick,SWW, or does it need anything special...bit of wine perhaps?

Cheers Prop.

Hope you enjoy your gastronomic lunch.

Here's a snippet from Westmounts Finals yesterday, made good reading, hope it makes your lunch taste better:

"Over 90% of Sterling's production comes from gas in the Gulf of Mexico where
Sterling's proven and probable reserves have been stated as 60 billion cubic
feet of gas equivalent at 30 June 2004 with current production rates of around
10.5 million cubic feet of gas equivalent per day which equates to approximately
15 years of production. Sterling has reported that detailed preparations are
underway for drilling further wells and workovers during the next eighteen
months with the objective of more than doubling United States production."

So, currently we have 60bcf of gas for 15 years production at 10.5mcf per day. As the statement says, "objective of more than doubling United States production."

So if we double output, thats 120bcf for 15 years supply, or 21mcf per day. Quite a lot of gas being produced in the GOM. I'm sure someone will like that.