Great announcement today IMO. Lempuyang 1 spudded yesterday, this well has heaps of upside IMO, it could be massive. I was looking at the picture on page 4 of the announcement and there seems to be a lot of oil and gas fields all over that pic.
A mate of mine asked me why I was holding AED last week and I told him it was because of the massive potential unfolding at the moment. We have Puffin 40% as far as I know. We have a 50% in Lempuyang as far as I know. We have 50 of Lukut-1 and they are testing up to 10 potential hydrocarbon zones on that well.
Loads of cash in the bank. More wells to drill later this year.
I would have liked an update on Gigir East-1. Maybe that will come soon.
AED Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
