JH, bad luck about being stopped out. I check shorts every day and I can't remember the last time that AED had any short sales but you can't discount the possibility that they were active today.
If this stock is still in low forties or below next week I will be there to catch a few more as expect to have funds available then. That's bcos I expect the Lempuyang well to flow gas early in January based on all the indicators and the fact that AED is already looking at development options for Lempuyang and the southern section of Block L. They have already estimated that the 5 adjacent fault blocks could contain 240bcf of gas which should at least double the SP IMO. They will have to drill a seperate well in each of the 4 other fault blocks to confirm this tho. AED have further targets below these reservoirs to explore which they think could result in this area having around 1tcf of gas resource.
I am optimistic about the prospects of Block L as Brunei is a proven HC province. However, IMO the company maker could be Rombebai which has the potential to put AED back into a double figure SP tho we have a while to wait before a well is drilled after a JV partner is secured. Still, if the Brunei exploration results are going to push the SP into the $1 to $2 range, now is the time to get set for Rombebai. AIMHO of course.
ANZ
AED Price at posting:
42.0¢ Sentiment: ST Buy Disclosure: Held
