Updates

Sterling Energy

October 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Hardman Resources, one of Sterling Energy’s partners in the Chinguetti field in Mauritania, has provided a disappointing operational update, which noted that the estimated reserves at Chinguetti are under review and likely to be substantially scaled back following the significantly lower than expected production. Further analysis will be required to assess what percentage of the original proven and probable reserves of 123m barrels will actually be recoverable, although Hardman does not expect this to be much over 50%. As the Chinguetti field is comfortably Sterling’s largest producing asset, this is clearly a major blow. The shares had been as high as 32p but are unlikely to perk up in the foreseeable future given th ...

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Prosperity Minerals

TMI Trader Portfolio - October

Sterling Energy (September 2006)

Sterling Energy - Production hiccup dents gains (June 2006)

Sterling Energy - First oil flows from Chinguetti field (April 2006)

Sterling Energy - Cashflow to rocket when huge Mauritania oilfield comes on stream (February 2006)

Sterling Energy (August 2005)

Sterling Energy - Farm-out boosts exploration upside (May 2005)

Sterling Energy - Stunning deal in "Mauritania" (December 2004)

Sterling Energy - Free carry in Mauritania oil campaign (November 2004)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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