AED - AED Oil

[The Piper]

I hope that the Chinese (SIPC) new what they were buying when they coughed up $600M for 60% of AED's Oil reserves. Yes the oil is still under the Timor Sea but at the price of $10 pbbl......
And has anyone noted that SIPC has just been granted exploration rights for area NT/P76 of the Bonaparte Basin, guaranteeing an initial work program of$36.65M and a secondary program including a new well costing $38.5M .... and AED as a 40% JV partener will be along for the ride.
So AED Oil have a cash position of $350M, or 2.27 per share.
They have 40mmb oip valued at $10 pbbl, or 2.59 per share. And an unknown income , but lets say 2000 bpd, or $0.67 per share.
Now if things improve and the Oil in place is valued above $10pbbl... or the extraction rate increases above 2000 bpd.......
The rest of the share price movement was simply emotion... thats the nature of the market.
The Chinese know a good deal when they see one. Notice how they paid a good deal more than the going share price on the day.

 

[Go Nuke]

Nice breakout from an asending triangle.....and I guess you would think so with the price of oil where it is

Another small pennant formed over the last few days finishing off with a doji before what looks like another good run today

Cross over of averages around the 13th of May looked good with the 20 Day crossing the 50Day MA.

The share price is so far sitting above the 100 day MA.

Hopefully with some announcements regarding the Sino deal and if oil holds these highs, the sp will contineu on it merry way.

Any ideas when we might hear some news on how Puffin is going?

 

[jimski]

I have been away so perhaps missed news - can someone tell me when this Sino deal is supposed to be wrapped?

 

[oldblue]

I have been away so perhaps missed news - can someone tell me when this Sino deal is supposed to be wrapped?

Patience required.
You havn't missed anything! The ball is in the Chinese court at present. The Chinese Govt court, probably.

 

[michael_selway]

Patience required.
You havn't missed anything! The ball is in the Chinese court at present. The Chinese Govt court, probably.

Hm thsi one is worth keepign an eye on

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -18.2 -6.9 75.1 121.9
DPS 0.0 0.0 0.0 0.0

thx

MS

 

[benwex]

i think the sp softness is from end of tax year selling....

some people have taken sone serious losses from the highs and any sp strength is sold into.

AED long term has some great upside IMO.


benwex

 

[jimski]

Patience required I'm sure but this is becoming an interminably boring wait....
Is anyone else surprised at the company's silence? No update at all for a considerable period.

 

[oldblue]

Patience required I'm sure but this is becoming an interminably boring wait....
Is anyone else surprised at the company's silence? No update at all for a considerable period.

I think we need to accept that the company doesn't have any control over the speed of developments, therefore nothing to report. Let's also not forget that this company was in a very precarious position before Sinopec bought in. The asset remains but AED may not have!

 

[kingbrown]

i think the sp softness is from end of tax year selling....

some people have taken sone serious losses from the highs and any sp strength is sold into.

AED long term has some great upside IMO.


benwex

You guys in here have got to be joking ??

I have held this stock before and trust me imo its a DOG !
Put your money to better use in a properly run company

Take whats left of your money and run a mile !!!

Ps i do not own AED shares anymore and never will again

 

[Go Nuke]

Yeah c'mon AED ya dog!!!c:

I cant believe where the price of oil is and we have heard nothing!!

After buying a very small parcel in the $8 range, i have peanuts to lose buy selling out now.
In fact not even enough to buy the minimum amount required by Commsec EVEN if I did want to invest it somewhere else.

Ive just resigned to forgetting about AED other than the odd glance at the sp.

Really poorly managed though considering they aren't even keeping their shareholders up to date with....well..whatever is going on:disgust:

ps..as AED Blunder pointed out...no F&$@(%N email address even on their website...which is just fantastic!
Does anyone have it so I can send an email off please?
Thx
GN

 

[jimski]

I haven't held a stock that has been bought out before so I am uncertain of what to expect. Is there anything to suggest that the Sinopec deal will actually increase the SP? I bought in under $2 and sold well on the way down from the top but now wonder whether to just jack it in and sell what I have left. If the Sinopec deal is only good for Sinopec and unlikely to increase value of AED then I can't see the point of staying in this one. Any opinions?

 

[trendster]

in trading halt this morning, we all hope there's something good to capitalise on the strong oil prices.

when was the last time these actually sold some oil? dec 07?

 

[benwex]

in trading halt this morning, we all hope there's something good to capitalise on the strong oil prices.

when was the last time these actually sold some oil? dec 07?

the trading halt is in relation to the deal with SIPC

"AED Oil Limited requests a trading halt of its securities pending the announcement of the"completion of the previously announced transaction with SIPC. "

The company management are still as useless as ever, never take or return calls to little retail shareholders......wankers!

Hope SIPC puts in a t/o bid for 100% and gives them all the boot.....

benwex

 

[laurie]

the trading halt is in relation to the deal with SIPC

"AED Oil Limited requests a trading halt of its securities pending the announcement of the"completion of the previously announced transaction with SIPC. "

The company management are still as useless as ever, never take or return calls to little retail shareholders......wankers!

Hope SIPC puts in a t/o bid for 100% and gives them all the boot.....

benwex

Absolutely right benwex I still cannot see why a trading halt is required to announce completion so what other sinister reason is there to ask a trading halt...... oil flows,fpso,off-take see could be anything with this mob

cheers laurie

 

[benwex]

Absolutely right benwex I still cannot see why a trading halt is required to announce completion so what other sinister reason is there to ask a trading halt...... oil flows,fpso,off-take see could be anything with this mob

cheers laurie

announcement out with confirmation of the deal completion...

bull**** bull****....


match price up, at 2.91 which is nice..

why dont they tell us about the independant experts reports on Puffin and its potential to increase the current below forecast output??

benwex

 

[jonojpsg]

Yeeeeehaaaaaaa

Finally the money is in the bank - $350m is about $2.50 per share cash backing, with whatever oil is actually flowing on top of that. If SINO gets the flows up to what they should be,which is obviously the BIG question - then we might see the SP head back up towards previous levels.

I would have though that in the interim before updated flows are released - based on 6000bopd the SP should be of the order of

2400bopd to AED x $50/barrel net of costs (conservative) to AED = $120k per day x 365 = $44m profit / 140m shares = 30c earnings

At conservative PE of 5, say $1.50, plus cash of $2.50 gives target of $4.

Obviously some uncertainty with all that, but looks positive IMO.

 

[laurie]

jonojpsg

Well I think the market don't trust management it's back down to $2.95 when in the hell was the last off-take,when is the next one!! there is just a lack of information that brings mistrust with shonky MD who forgets he sold shares because off-takes tells the truth of what is being pumped out and they don't want us to know that for now

cheers laurie

 

[blues]

I believe it will drift around until a development plan for Puffin is seen. I do believe plans have been agreed to but until they are announced with timeframes this might be a volatile ride.

Cheers

 

[michael_selway]

Yeeeeehaaaaaaa

Finally the money is in the bank - $350m is about $2.50 per share cash backing, with whatever oil is actually flowing on top of that. If SINO gets the flows up to what they should be,which is obviously the BIG question - then we might see the SP head back up towards previous levels.

I would have though that in the interim before updated flows are released - based on 6000bopd the SP should be of the order of

2400bopd to AED x $50/barrel net of costs (conservative) to AED = $120k per day x 365 = $44m profit / 140m shares = 30c earnings

At conservative PE of 5, say $1.50, plus cash of $2.50 gives target of $4.

Obviously some uncertainty with all that, but looks positive IMO.

I wonder what they will do with the cash, they can earn money from it also!

btw whats the current mine life at 2400bopd

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -18.2 -6.9 69.9 118.4
DPS 0.0 0.0 0.0 0.0

thx

MS

 

[benwex]

I wonder what they will do with the cash, they can earn money from it also!

btw whats the current mine life at 2400bopd

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -18.2 -6.9 69.9 118.4
DPS 0.0 0.0 0.0 0.0

thx

MS

with $350 MILLION in cash now you would think the managment would be giving the market an indication to how this huge sum will be deployed???

seriously stupid management and when they do take my call i wont be shy telling them...

Think of all the fantastic notes they could put to the market...

benwex