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ASX and a speeding ticket now , be strange if it turned out to be short covering . Up nearly a buck . best day in yonks .
AED - AED Oil
- Thread starter lewstherin
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Ok I stand corrected!
I was doubtful that AED could continue its way up if the DOW was down and I was wrong.
So bought in this morning at $1.60 and out at $1.90.
Its a shame I missed the top but I dont have access to a computer so couldn't watch it all day.
Guess I'm happy with that trade
Not game to jump on again though.
I was doubtful that AED could continue its way up if the DOW was down and I was wrong.
So bought in this morning at $1.60 and out at $1.90.
Its a shame I missed the top but I dont have access to a computer so couldn't watch it all day.
Guess I'm happy with that trade
Not game to jump on again though.
On a day where oil finishes above $100 a barrel and most of its piers are doing very well, good old AED is getting shorted to the cleaners!!!
It just goes to show that when a company suffers a massive slide and bears are killing it, the bears will keep it down for a very very long time and keep fighting against any meaningful rally...
Benwex
It just goes to show that when a company suffers a massive slide and bears are killing it, the bears will keep it down for a very very long time and keep fighting against any meaningful rally...
Benwex
announcement out this afternoon about fixing existing wells and future production levels
interested to know anyones thoughts on this latest addition to the ongoing drama
i bought in at $7 and am wondering whether increase in production rates could see price lift back to these levels or not, just curious as to how many centuries i may have to hold onto this stock to get even $
interested to know anyones thoughts on this latest addition to the ongoing drama
i bought in at $7 and am wondering whether increase in production rates could see price lift back to these levels or not, just curious as to how many centuries i may have to hold onto this stock to get even $
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Tried to do some intraday on this one, made nice profits in the last week both going long or short. Dont have the chart here but as i recall it was siding on 1.8 for a long time with no volume in it really, was waiting for a rally to start and to ride it. Was speculating more on short. Actually it started jumped in around 1,78 short (too early, but i just got my trading rights at company and was a bit hot headed:[) it has fallen to 1,75 kinda fast than sellers just vanished..., funny movement started it was looking real bad for my pos, couldnt really close as there were no asks in, but got it closed at 1.80. Answer to you after my little monolog:
5 minutes later i was analysing my mistake and suddenly trading halt came due to the "well update announcement". Bids were coming in for 2 dollar+ a nice bull rally with a gap under it with lot of profit takers once it ended.
Despite that i have closed and realised loss intraday, i was statisfied with myself in the way of closing, becouse if i hadnt kept my s/l rules and let emotions come over me to wait for droping in price, should have been around a 20% loss instead of a 3%.
Really curious what will AED do in the future, hopefully long this one, will see
have a nice weekend all-
I'm very surprised that AED has not come to shareholders for money normally by now you would see either a non-renounceable issue or a sp issue based on ratio e.g. 1:5 or a flat dollar amount $5000-$4000 etc it would have to be around the $2 to keep dilution low that would add 50M shares
cheers laurie
normally by now you would see either a non-renounceable issue or a sp issue based on ratio e.g. 1:5 or a flat dollar amount $5000-$4000 etc it would have to be around the $2 to keep dilution low that would add 50M sharescheers laurie
TRADING HALT
"opportunity to assess offers received from a number of parties in relation to the sale of a portion of its assets pursuant to the strategic review process previously announced.
The company expects to be able to make a further announcement to the market within the two business days of the trading halt period."
Looks like we will be able to get some sort of firmer re rating for this company...
benwex
"opportunity to assess offers received from a number of parties in relation to the sale of a portion of its assets pursuant to the strategic review process previously announced.
The company expects to be able to make a further announcement to the market within the two business days of the trading halt period."
Looks like we will be able to get some sort of firmer re rating for this company...
benwex
???????? Did you read the announcement. Surely you could deduce some information from it?
Here it is for you....
"AED Oil Limited requests a trading halt of its securities to provide the Company an opportunity to assess offers received from a number of parties in relation to the sale of a portion of its assets pursuant to the strategic review process previously announced."
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Is this it for good old aed ?
Worst investment I have ever made, cant believe you guys in here are still talking it up
Looks to me that the fat lady getting ready to sing with this mob?
Worst investment I have ever made, cant believe you guys in here are still talking it up
Looks to me that the fat lady getting ready to sing with this mob?
Doesn't sound like the end.. but "disposing of assets" doesn't sound too impressive to me unless it really is successful in reduce their distressed position, and turn the ship around before it runs into the rocks for good.
I wonder who the buyer is? Could be good for the buyer's SP ..
I wonder who the buyer is? Could be good for the buyer's SP ..
Macquarie Group in one of interests groups. I saw this news from REUTERS website. The news is listed on the website today.
"Shares in AED took a further hit after Norwegian oil services firm AGR Group AGR.OL said AED was overdue in paying an AGR subsidiary about A$41.5 million ($37 million). AED had said it was still cashflow positive and that it was in discussions with AGR over payments."
The cashflow problem, maybe the negative news!
"Shares in AED took a further hit after Norwegian oil services firm AGR Group AGR.OL said AED was overdue in paying an AGR subsidiary about A$41.5 million ($37 million). AED had said it was still cashflow positive and that it was in discussions with AGR over payments."
The cashflow problem, maybe the negative news!
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I think oldblue may have it right. I think they may be looking for someone to farm in and have had a number of approaches, which they are contemplating.
Any guesses; WPL, STO, TAP etc
It been a grat stock to short term trade of late on the bounce then retrace, with the right farm in partner it may show more stability from here on. Any thoughts?
Cheers
BT
So what does this mean for shareholders?
MARKET RELEASE
3 March 2008
AED Oil Limited
SUSPENSION FROM OFFICIAL QUOTATION
The securities of AED Oil Limited (the “Company”) will be suspended from quotation immediately at the request of the Company, pending the release of an announcement by the Company.
Security Code: AED
Julia Kagan
Senior Adviser, Issuers (Melbourne)
MARKET RELEASE
3 March 2008
AED Oil Limited
SUSPENSION FROM OFFICIAL QUOTATION
The securities of AED Oil Limited (the “Company”) will be suspended from quotation immediately at the request of the Company, pending the release of an announcement by the Company.
Security Code: AED
Julia Kagan
Senior Adviser, Issuers (Melbourne)
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i think it means we have to wait longer for the announcement!!! It looks to me it could be good news....why??
there has been increasing bid for the shares...2.20 then 3.00 then 3.1 at the moment. (whoever these guys are, they must be aware of something Good!!)
the reconnection and the starting of oil production at puffin on the 25th!!
no change in director interest in compay recently...in form of "getting rid of excess shares". Usually an indication of negative new for the company.. but this is just my observation, i could be wrong!! what do you guys reckon??
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Holding a suspended stock is not a comfortable position but there is jack effluent you can do about it!!! The position seems to be that whatever AED is attempting to do, couldn't be done within the trading halt timeframe. That suggests that the matter is either more complex than originally contemplated or the directors are having a little difficulty reconciling the representations made thus far. Importantly, AED requested the suspension and I suppose would need to have explained to the ASX why they wanted the suspension, for how long and what might trigger the change. Somebody knows in which case it shouldn't be long before we get something...albeit 'negotiations are continuing'.
I think the forum is correct in saying that AED needs to dispose of assets or farm-in partners. Had it the internal expertise itwouldn't be in the position it is ie negotiating with banks, calming creditors, restoring wells, enduring cyclones etc etc.
If management were bright they'd be looking for a partner (ie farm in rather than asset sale) of similar size in the oil and gas business with a good balance sheet but especially a good reputation.
Here's hoping as that's all that is left once suspended.
I think the forum is correct in saying that AED needs to dispose of assets or farm-in partners. Had it the internal expertise itwouldn't be in the position it is ie negotiating with banks, calming creditors, restoring wells, enduring cyclones etc etc.
If management were bright they'd be looking for a partner (ie farm in rather than asset sale) of similar size in the oil and gas business with a good balance sheet but especially a good reputation.
Here's hoping as that's all that is left once suspended.
The bidding whilst pre-trade or in a halt doesn't mean much at all. It probably is a program "jumping in" at the front of the queue.
Puffin was re-connected before the trading halt so it has no influence.
I don't think the directors would be stupid enough to inside trade to offload shares whilst under so much scrutiny already.
