Uh uh.Your comments are border line libel, and I am surprised that the Administrators of this forum are letting you get away with this.
Of course maybe you have a case, and if so then present this point-by-point with evidence.
I agree that management of AED have a case to answer for, but I feel their only issue is being too bullish on their statements. They should have been more careful, and the market has punished the stock accordingly based on the new announcements which have 'attempted' to clarify the situation. Its unfortunate that most of us are caught up with this.
Make it as you will...
Uh uh.
If you look back through this thread you will see a post after my conversation with one of the directors. They have more to answer for than just being too bullish in their statements.
There are issues surrounding regulations on continuous disclosure here, which they are undoubtedly in breech of. And if ASIC actually did its job, I'm sure they would be in trouble.
FYI, whilst chops is getting a little emotive, he's given plenty of justification for his opinion. My personal belief is the big problem with AED is the market are largely uninformed of the nature of the situation and thus have difficulty in determining fair value.Your comments are border line libel, and I am surprised that the Administrators of this forum are letting you get away with this.
FYI, whilst chops is getting a little emotive, he's given plenty of justification for his opinion. My personal belief is the big problem with AED is the market are largely uninformed of the nature of the situation and thus have difficulty in determining fair value.
Also, my understanding of the term 'libel' is that it is defamation of a person. I don't think it's possible to defame a company...
Hmmm,
You guys will hate me. I search for posts like this. I've been thinking of getting in on this stock for a while and now seems like a good time.
I'm no economist but I can't see anything wrong with this company. Can ANYONE explain WHY it has dropped so far is it being over sold?? Or was it simply overvalued only 2 months ago 11.4 - 3.88 is a masssssssivvvveee drop over such a short period.
They have walked away from SW sector which was said to have held a 40 million barrels resource.
Correction for your comment above - they have NOT walked away, but merely put a hold on the further development of the SW till they complete more analysis work.
This was stated in earlier announcements (28th Nov) and everyone here knows about their comments over the area being "geologically more complex than originally thought" and further to that "The well encountered more complex geology than expected, two, additional sidetracks were drilled, with the aim of better understanding the geology."
The LOI arrangements for the Modec Venture FPSO are still in place, the reserve estimations are still current. Its just going to take longer to appraise the development, and get to production.
Well thats what is hoped. Only time will tell.
Thoughts and opinions are most welcome, and lecturing is not what I am on about, but moreso keeping to the facts, rather than distorting them.
Cheers all.
AED is in freefall.
It's still going down.
I hold a very small parcel, and might buy more if it dips under $2.95 where it should get strong technical support.
Fundamentally the situation of the stock and its true reserves and resources must be seen as cloudy, at best.
If the producing well starts to crank significantly upwards of 10k/day on a rising trend, then I would buy more in a flash at present prices.
Otherwise the stock is showing a close resemblance to Paladin, albeit without a base having formed from its present carnage.
Date: 4/12/2007
Author: Stephen Wisenthal
Source: The Australian Financial Review --- Page: 23
Australian investors are becoming nervous about the future prospects of AED Oil.The company's early performances were welcomed by investors, who pushed thestock up to $A11.40 in October 2007. However, news that oil production at thePuffin project may be delayed has pushed the share price down considerably.Earlier delays were accepted by investors with little fuss, however the latestannouncement has caused the shares to drop to $A4.21 as of 3 December 2007.Despite the fall, some analysts still believe the stock has value
Date: 3/12/2007
Author: Nigel Wilson
Source: The Australian --- Page: 33
Australian-listed oil group AED Oil has managed to retain a stable share price.The company is under pressure to produce strong results after rumours that itsPuffin project is failing. AED is expected to announce that a second shipment ofoil will be transported from the Puffin project shortly. Chairman David Dix hasbeen absent from the role for some time due to an operation, however he is dueback shortly. His return is expected to buoy the group's morale. AED sharesclosed at $A4.30 on 30 November 2007
Date: 22/11/2007
Author: Jamie Freed
Source: The Sydney Morning Herald --- Page: 31
AED Oil lost the confidence of the market after it revealed problems with itsmain projects. The start of production at the Australian oil company'sPuffin field off the Northern Territory lifted its share price to a record$A11.40 on 17 October 2007. However, it has announced that its Puffin North-Eastfield will not reach its forecast peak production. It has also suspendeddevelopment of its Puffin South-West field, as it is more geologically complexthan thought. On 21 November, AED's share price closed down by $A1.30 at$A5.80
Date: 22/11/2007
Author: Barry FitzGerald
Source: The Age --- Page: B3
Shares in Melbourne company AED Oil have been negatively affected by aproduction shortfall at its Puffin oil field in the Timor Sea. The stockdeclined $A1.30 to $A5.80 on 21 November 2007 after confirmation at thegroup's AGM that established production from the initial development of thefield will likely be 20,000 barrels a day, rather than 30,000 barrels a day asforecast. The stock had traded to a peak of $A11.40 on 17 October 2007. The AGMwas told the company was managing good profitability despite the lowerproduction, because of record oil prices
Might be a good buy
Might be a good buy
Personally i would never buy a stock that has so much negative sentiment surrounding the management or disclosure.
Thats just me, but reliable and trustworthy management is one of the most important factors in my (long term) stock choices
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