Thanks for the input NZ steve. I haven't had a good look through...

Thanks for the input NZ steve. I haven't had a good look through it but the allowance for exploration and development costs seem a little low to me.

Below is an extract from the Ferret... very entertaining assumption of $43 to $110 SP... LOL... if only. Good promo anyway...

Around the traps with the Ferret
09/03/2007 12:19:11 PM

*****

Buyers who started moving back into AED OIL (AED) on Monday at $4.35 made the right move.

The shares yesterday rose 41c to a new record of $5.15 and closed at $5.05.

During the day the company reported that estimates of Oil Initially in Place (OIIP) in the Puffin South West region in the Timor Sea, owned 100 per cent by AED, have been confirmed in the range of 38 to 97 million stock tank barrels (MMstb).

This range and the most likely volume of 65 MMstb are similar to the volume of oil in the Puffin North East region (NE) now being developed by AED.

Recovery factors for the SW are likely to be broadly similar to those for the NE and are estimated to range from 40 per cent to 70 per cent.

Taking the lowest possible version of this range gives AED oil in the ground worth $43 a share.

The highest possible makes it more than $110 a share.