AED - AED Oil

[Go Nuke]

Gee whatever your talking about it sounds ok. LOL.

Ive removed AED from my watchlist and have given up even looking at it really...so wasn't aware of any news.

As a shareholder I guess I should find out more info on this ann

 

[GREENS]

Nuke,

Why the report definitely shows a company with promise, It’s nothing different from there previous announcements promising good things. Probably best not to get your hopes up too much with this one, although that div looks like a bit of relief for you shareholders who have taken a battering.

Also I noticed that some of the AED operations team have joined Sinopec. I would have thought that Sinopec would have stayed well away from the AED team and not taken them on board given their previous poor management of the field, although I did only gloss over the report I may have miss interpreted that. But for all you holders may be worth a check.

I’m still staying well away from this one, but good luck to all those still holding, hope it turns around for you.

 

[michael_selway]

Nuke,

Why the report definitely shows a company with promise, It’s nothing different from there previous announcements promising good things. Probably best not to get your hopes up too much with this one, although that div looks like a bit of relief for you shareholders who have taken a battering.

Also I noticed that some of the AED operations team have joined Sinopec. I would have thought that Sinopec would have stayed well away from the AED team and not taken them on board given their previous poor management of the field, although I did only gloss over the report I may have miss interpreted that. But for all you holders may be worth a check.

I’m still staying well away from this one, but good luck to all those still holding, hope it turns around for you.

Hey not bad only $30 mil out of the $600 mil they got for the sale ($350m net of debt)! What a teaser!

ASX Announcement 30 July 2008

Declaration of a Special Dividend AED Oil Limited (“AED”) is pleased to announce it has declared a fully franked dividend of 20 cents per share (approximately A$31 million). The dividend payment represents part of the strategic and capital management review undertaken as part of the sale of 60% of AED’s assets to Sinopec International Petroleum Exploration and Production Corporation (SIPC), giving rise to cash proceeds previously reported. The Directors of AED have decided that all shareholders should directly benefit from the successfully completed sale of asset transaction. Shareholders are referred to the June 2008 quarterly report for further details. The dividend will be paid on 5 September 2008 to shareholders registered at the close of business on 22 August 2008, exdividend
date will be 18 August 2008.

 

[laurie]

Don't hold your breath I feel really sorry for the girl's answering the phone and taking messages lets see.....$350m @9% interest thats $31m p.a that's worth at least .20c paid back as a dividend or they can spend a night at Crown Casino and double their money Packer did

cheers laurie

hmmmm got that one right so there is at least 155 million on issue

cheers laurie

 

[jimski]

MELBOURNE, Aug. 4 -- AED Oil Ltd.'s Puffin oil field in the Timor Sea has produced 1.6 million bbl of oil and $67 million (Aus.) in revenue during the 2007-08 financial year.

The company plans to begin a drilling program in August to enhance production further.

The Wilcraft jack up rig will drill Puffin-11 exploration and appraisal well in Southwest Puffin and Puffin-12 development well in Northeast Puffin.

Puffin-11 will be a deviated pilot hole for an initial evaluation of the reservoir and, if successful, it will be followed by a short lateral section across the crest of the structure. The idea is to deviate the well south of the bounding fault system to a location updip of Puffin-9, which has proven oil columns in two reservoir sands (LK1a and UK1a).

Puffin-12 has a primary objective to drill and complete a 200 m thickness of reservoir in the LK1a sand at that location. It will then be tied back to the existing manifold at Puffin-7 and Puffin-8 and thence to the Front Puffin floating production, storage, and offloading vessel via the existing subsea system.

The drilling program is expected to take 100 days and cost $108 million (Aus.).

AED holds 40% of the project, and Chinese company Sinopec has 60%.

 

[jimski]

Hellllooooo! Is there anybody there or am I the very last person with any interest whatsoever in this stock. I am a die hard optimist much to my bank manager's dismay but even I am losing interest in this. Is there any hope on the horizon?

 

[Aargh!]

Hellllooooo! Is there anybody there or am I the very last person with any interest whatsoever in this stock. I am a die hard optimist much to my bank manager's dismay but even I am losing interest in this. Is there any hope on the horizon?

Hope could be:

1. Sinopec increase flow rates substantially.

2. Exploration success.

I am cynical if either of these happen in the near term.

 

[michael_selway]

Hope could be:

1. Sinopec increase flow rates substantially.

2. Exploration success.

I am cynical if either of these happen in the near term.

They do have a lot of cash on hand which is good

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -18.2 -9.0 34.4 44.3
DPS 0.0 0.0 0.0 0.0

thx

MS

 

[jonojpsg]

I would have thought that Sino would be ramping up production asap. Given that production has averaged about 4000bopd over the last quarter, it couldn't be too difficult to push that up with some experienced production managers at the helm, assuming that Sino has actually brought some of their people on the scene.

Don't forget that the platform was intended to be producing 20000bopd so there must be something they can do to improve on 4000?! The obvious argument being if there was something they could do it would have been done

I am still optimistic but maybe have my head in the sand

 

[oldblue]

My layman's reading of the problems with the complex geology of the Puffin field is that it requires more than new management, rather, some extensive reworking/redrilling work. I'm confident that Sinopec can handle this in due course but wouldn't expect quick results.

Disc: Not holding but interested via NWE's ORR.

 

[Go Nuke]

Hellllooooo! Is there anybody there or am I the very last person with any interest whatsoever in this stock. I am a die hard optimist much to my bank manager's dismay but even I am losing interest in this. Is there any hope on the horizon?

To answer your question...

I bought a few at $9+..so Ive taken this off my watchlist as Im sure that Im not going to make any money out of this one for a long time!

So no...Im not really interested in AED.

The sp has been doing bugger all. Even with oil at record highs.

 

[jimski]

Thanks for those replies - I am going to put my own head back in the sand (or somewhere else) and come back to this in a few months.

 

[Go Nuke]

Well after todays announcement...come back in about 3 months!

The sp will probably rise on speculation that the Puffin wells will come up with the goods.

Buy the rumour sell the fact.
There will be alot of nervous punters out there in regards to AED now.

 

[Go Nuke]

woot!!

Got my cheque for....(Drum roll......).....$26!!!! LOL
For the franked dividend.

Thanks AED!

{Absolutle no sarcasim ment...not one bit!! } :horse:

 

[michael_selway]

woot!!

Got my cheque for....(Drum roll......).....$26!!!! LOL
For the franked dividend.

Thanks AED!

{Absolutle no sarcasim ment...not one bit!! } :horse:

Hm only $26.00? how many shares did you buy?

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 128.4 34.3 42.8 --
DPS 20.0 0.0 0.0 --

thx

MS

 

[laurie]

Hm only $26.00? how many shares did you buy?

Try dividing $26 by 20c!

cheers laurie

 

[Go Nuke]

LOL...thats what i thought Laurie.

The answer is not many
THANK GOD!!

I got in at over $9!

The $26 is nothing compared to what Ive lost...even on 100+ shares

 

[Go Nuke]

OMG...$1.30!

Are any of my stocks going to make it through this ****!!!

$1.30 for a company producing oil and cashed up???

I give up.

 

[kingbrown]

It actually beggers belief !!
That ppl still own this disaster and attempt to talk it up on this forum ??????????

 

[Go Nuke]

Hey im not talking it up!

I'm just expressing my suprise and disappointment at the current sp.

Oil is a finite resourse.