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

Here is the explanaion.

eurofox - 22 Nov'04 - 16:01 - 2703 of 2705


MMs will, imo, on relatively little selling (commissioned by companies that take on CFDs and Spreadbets), drop the bid until margin calls close out big long positions on CFDs and Spreadbets, so that (a) all parties still make a profit from the punter and (b) the CFD and Spreadbet companies avoid big future payouts that they had not hedged because they were not expecting the news

Thank you Hilary.

Good decision!

Good luck to you too.

Got this from the other place. Eurofox has answered.

eurofox - 22 Nov'04 - 16:01 - 2703 of 2705


MMs will, imo, on relatively little selling (commissioned by companies that take on CFDs and Spreadbets), drop the bid until margin calls close out big long positions on CFDs and Spreadbets, so that (a) all parties still make a profit from the punter and (b) the CFD and Spreadbet companies avoid big future payouts that they had not hedged because they were not expecting the news

Hectorp - 22 Nov'04 - 16:29 - 2704 of 2705


In other words, we retail shareholders are last in line to gain from any movement in the share price. Patience is needed.
it'll come, I'm sure you'll see 20p tested in the coming week or so.
- Of course NOW that all the shares are in play, any new NEWS shall also affect the share price , whereas last week, it would not have. And we will be due drilling updates.

MS

PS. Eurofox certainly seems to know what he's talking about.

SWW

You beat me to it. Sorry for the double up guy's.

MS

MS it is as well you did.

So much comment this afternoon mine looks lost.

Thanks.

Evening sw,hows tricks.

Just been watching jungle fever,,,or what ever its called,,borrrrrring.

Can't stand snakes............

good thanks.....

You?

Not bad all red but very little .

bt/mtn,,flat.

Hmmmmm.

You do pick up the stocks at the bottom, but they all usually rise.

RTO is a bit of a difficult one. Recovery pending there. Will Mc Govern do it?
Will there be a takeover? Will there be a split up eventually? I did hear a private equity group were eying them, but nothing has transpired. Civen I think it was.....

Worth a punt with patience I suppose.

Drilling news tomorrow for SEY, did pick a rumour that Tiof 3 ws a hit big time, but we will see. Rumours are exactly that.

http://moneyam.uk-wire.com/cgi-bin/articles/200411230700415273F.html

Drilling report.

Flow testing of Tiof 3 means there is something worth testing.

Merou spudding has occurred.

Tiof 4 put to sleep for while after sucessful drill.

Morning all.

Hello gav

Hi SWW, can't be long now until we get the Tiof-3 results, maybe later in the week.

Hope so. I did pick up a very positive rumour somewhere, can't remember where. Todays news indicates it was right. That info is posted back a few pages, if I can find it later I will bring it to the fore again. Alternatively we can wait tillthey prove it up themselves.

As with all things, time will tell.

Just rememebred it was on ROC's Trading Statement.

Would you Adam and Eve it?

Dave, EZJ, someone was having us all on!

Profit warning, My Eye!

At least you were in near bottom.

Even if we don't get them this week then it's no problem. They wouldn't be testing it if they didn't think oil was there. This week, next week, no worries.

From Rigzone.com nice big article which repeats itself a few times. Do they need an Editor?

I'm free.

Sterling Energy reports that its shareholders have overwhelmingly approved the company's 97 million share placing to raise funds principally for investment in the development of the Chinguetti Field, offshore Mauritania in West Africa.

The shareholder approval follows Sterling's announcement earlier this month that it was raising the money to provide funding for the Mauritanian Government on Chinguetti, which is operated by Woodside Petroleum and is due to produce from early 2006 with peak production of 75,000 barrels of oil per day.

It comes as AIM-quoted Sterling hosts a visit to London by the Mauritanian Minister of Industry and Mines, Mr Zeidane Ould Hmeida, for an official signing ceremony to mark the completion of the Chinguetti agreement.

Sterling Chief Executive Harry Wilson said: "Having received such a strong response from new and existing institutional investors to one of the largest ever fund raising exercises on AIM, we are naturally pleased to have received such overwhelming shareholder support at the EGM. We are now looking forward to a fruitful relationship with the Mauritanian Government as it continues to develop its offshore oil industry."

Sterling has raised the 97 million through the issue of 570,588,235 new ordinary shares at 17p per share. It plans to use the bulk of the new funds to pay a $15.5 million signature bonus, and provide a $130 million letter of credit to cover the Government's share of the Chinguetti field development costs. In return, Sterling will receive income from a sliding scale share of the field's production.

The new shares have today been admitted for trading on the Alternative Investment Market. Following admission, there are 1,393,300,558 ordinary shares in issue, of which the new ordinary shares comprise approximately 41%. Sterling Energy reports that its shareholders have overwhelmingly approved the company's 97 million share placing to raise funds principally for investment in the development of the Chinguetti Field, offshore Mauritania in West Africa.

The shareholder approval follows Sterling's announcement earlier this month that it was raising the money to provide funding for the Mauritanian Government on Chinguetti, which is operated by Woodside Petroleum and is due to produce from early 2006 with peak production of 75,000 barrels of oil per day.

It comes as AIM-quoted Sterling hosts a visit to London by the Mauritanian Minister of Industry and Mines, Mr Zeidane Ould Hmeida, for an official signing ceremony to mark the completion of the Chinguetti agreement.


There, some duplications deleted.