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AED - AED Oil

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Yeah I hold dj after buying in at about $9 after the bounce back in October, but the good thing about not having alot of money, means I didn't buy many shares

Thats the only thing to smile about.
Other than that Ive just decided to forget about those shares and maybe look at them in about...ooh 10years time at the rate their going at. Because maybe by then, I can sell them to break even

Other than Erongo Energy this is also my worst investment ever.

I guess when you learn to walk you will fall over and hurt yourself till you learn NOT to fall over....as often anyway.
 
I sold the bulk of mine near the top but I still hold some. I think there is still life in this dog yet and I don't believe that no news is bad news - rather a case of once bitten by the market twice shy for the company.
 
Why didn;t AED release this news to the Australian market ?

Did AED release this to the Australian Market?


Investors will be watching AED Oil Ltd (AED.AX)


AED OIL8 February,200808/02/2008 11:12 Sydney, Australia.
Value Change % Change
1.600 -0.120 -6.980%

AED.AX , 1.600, -0.120, -6.980%), which fell nearly 13 percent on Thursday after a subsidiary of Norway's AGR Group, said AED owed it about A$41.5 million ($36.6 million).

"AED has informed AGR that AED together with its corporate advisors is in the process of introducing farm-in partners and assessing appropriate sources of funding with the intention of payment to AGR of the full amount invoiced," AGR said in a notice to the Oslo stock exchange on Feb 1.

http://money.ninemsn.com.au/article.aspx?id=377373

Stock has been absolutely demolished today.
 
Well the plunge today looks like I'm a buyer, not sure how comfortable I'm with that, but not a large amount.. didn't expect it to plunge so quickly.. as per usual, news out there that isn't released to the market
 
Shame AED management

Release the bad news as no news is pannicking the market

Does any one know if these guys are going broke or what ??

Have dumped half this Dog this morning after buying in at $2 only a few days ago
 


Hi folks,

AED ..... our cycle analysis indicates that this rout has more
to run yet ... looking for more negativity from 2102-18032008,
particularly around:

21-25022008 ..... negative spotlight on AED

17-18032008 ..... more negative news expected ... finance-related???

..... and, if AED survives:

Also looking for lows to be tested in late-June/early- July 2008, before
the first signs of recovery, with a positive cycle expected 09-10072008.

have a great day

paul



=====
 
Clearly some panic selling going on. Panic will shake out the last 'stale bulls'. I'm expecting some bounce from here, so wagered a small short term bet.
 
rub92me said:
Clearly some panic selling going on. Panic will shake out the last 'stale bulls'. I'm expecting some bounce from here, so wagered a small short term bet.
Click to expand...

Now down nearly 22% today
Well every dog has its day?

Lets see if this dead cat can bounce??
 
Has anyone out there considered, that maybe, just maybe, management and others out there are snapping up the stock before any positive announcement is made?

As many have said before, no news is bad news. I thought the old adage was no news is good news.

It was explained to me by someone who has more oil expertise than myself, that if AED can fix the problems at the site, the stock will be worth far more, and if AED cannot fix the problems, it will be worthless.

So at the end of the day, you pay your money and you take your chances.
 
DJ AED Oil Sold Off As Creditor Notes Overdue Payment

MELBOURNE (Dow Jones)--Shares in Timor Sea oil producer AED Oil Ltd. (AED.AU) continued their rapid decline Friday as one of the company's creditors said it is awaiting an overdue payment of A$41.5 million.

Lower than expected production at AED's Puffin oil project have seen the Melbourne-based company sold off hard and the latest news drove the shares down 19% to A$1.39 by 0228 GMT Friday, off an earlier low of A$1.30.

The latest share slide comes after Norway's AGR Group ASA (AGO.OS) issued a statement to the Oslo exchange stating that it is owed about A$41.5 million by AED and that payment is overdue.

"AGR continues to investigate its options to recover this outstanding amount and is in dialog with AED to this end," AGR said.

The Norwegian oil technology and services group, which provided drilling services to AED last year, said it will make a provision of 10% against the full recovery of the outstanding amount.

AED wasn't immediately available for comment.



I think debt being called in this environment can only spell trouble with only $26,897,000 in Cash and 41.5 million in Debt. They need some very positive news to pull them out of this one.
 
Buy on rumour, sell on fact. Lots of rumour at the moment. They have a lot of oil assets and some debt. Sure, they'll need financing and fix their production problems, but I don't think things are all too desperate just yet.
 
rub92me said:
Buy on rumour, sell on fact. Lots of rumour at the moment. They have a lot of oil assets and some debt. Sure, they'll need financing and fix their production problems, but I don't think things are all too desperate just yet.
Click to expand...

The share price seems to show otherwise. One of the biggest sell offs within 3 months that I have seen in my short history :
 
prawn_86 said:
The share price seems to show otherwise. One of the biggest sell offs within 3 months that I have seen in my short history :
Click to expand...
Don't disagree with you there, but they're running out of further bad news opportunities now. On the plus side, they won't come down another 9 dollars.
Only down 3% from my purchase price - stop at 1.25. We'll see.
 
its after 3:30
Still no official news !

seems to be just clinging to around 1.40 now
down 18%

Plenty are rubbing the mouse on the buy or sell button here

Hopefully its a buy !
 
Bought Hardmans when the market hated the stock... and look what happened.. ....so bought some this week, AED still have Oil...

My 2 cents worth...
 
Ann out after close... ASX query forced it out of them, and quite rightly.

They did leave a lot of the details out of their quarterly on the exact details, however it looks like they believe they provided the general gist which was enough . They do seem to play it down a fair bit, stating in effect they are discussing the amount owing with AGR and are confident of a resolution. How insistant AGR is an important question I guess - is it "we want our money now", to a more subdued "ok, we understand you're having some problems, we will give you a couple of extra months with interest thanks" ??

Production also slowed last few days due to gas lift problem, but we sort of already know they are having current problems with securing a constant flow.

Again, this stock maybe doesn't deserve much more than it's current price, however if (an important if) they can sort things out, AED should still come through the other side.

Through their "strategic review", I'm not sure their exact direction - but to me bringing in a larger player for 1) the expertise and experience (which AED seems to lack) and 2) securing funding and stability would be nice. If that means say 30%(?) buy-in, then so be it. Whatever that amount is, may be better than 100% of nothing if they fail to take action.

6.9M shares traded (highest volume for a while) at $10.4M traded today... so obviously there are a few also that are hoping along these lines.
 
Geez, you'd have to be missing a chromosome to have held onto this share. Because like those shareholders, this stock has the worst case of Down Syndrome I think I've seen.
 
rub92me said:
Don't disagree with you there, but they're running out of further bad news opportunities now. On the plus side, they won't come down another 9 dollars.
Only down 3% from my purchase price - stop at 1.25. We'll see.
Click to expand...

Good on ya Rub,

I had to sleep today so was a girly man and set my stop a bee's di@k too tight.
$600 scalp turned into a $250 loss

Getting a bit gunshy lately as everytime I've got to work I wake up and all hells broken loose.
My missus is even following the yank elections now in between monitoring the DOW
 
chops_a_must said:
Geez, you'd have to be missing a chromosome to have held onto this share. Because like those shareholders, this stock has the worst case of Down Syndrome I think I've seen.
Click to expand...

Sorry Chops but Ive taken that insult personally!

As someone who is relatively new to the share market, we are not all gifted with right skills to know how to deal with these events that happen.

Some of us learn from our mistakes (and others don't) But I find it highly offensive that your implying I or anyone else who still holds this stock is missing a chromosome.

Its tough enough for some watching thier money go down the drain without having to read something as improper as your comment.

Personaly i use my inexperience at not using stops (because I have little capital to lose) as my reason for holding, but as I said before I don't hold many AED so I'm happy to just take the pain of getting burnt and forget about them.
The company IS producing oil after all so I dont think its likely to colapse.

Ok..I stuffed up, but I prefer to live with that without being put down
 
Should be an interesting day for AED, management have alot to answer for, there inexperience in the oil sector is quite apparent, anyway they still have oil, produce oil and with a 4% increase friday and opec saying they will tighten production has got to help this stock.

If they are producing at a cost of 33 dollars a barrel, wasn't the price in this range when they planned all this. Most fortunate for them that the oil price shot throough the roof otherwise they would be broke by now.

I would be discussing the drilling costs if the contract drillers screwed up the wells!!

Watch out they don't become insolvent.

I'm in friday...may not hold for long if the price doesn't at least stabilise and/or move up.....
 
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