As a frustrated holder of AED (having lost circa $50k since its first pull back) I could get annoyed about the lack of movement in the stock even when finally Sinopec did the deal and the money is now banked and frustratingly there has been no re-rating.
So lets assess the company and what we can look forward to, we have a company with buckets of cash and 40% of an asset that is now going to be actively explored jointly by a 800 pound Kung Fu Chinese Panda. (latest animated movie)
We will now sit back and see if the Puffin field is any good or not. In any form of exploration, one well or drill program should never define the potential and value of a region. So lets sit back and see where they go probably no where until they announce the next drill programme and production details from there existing wells.
PITY THE MARKET DID NOT RERATE BUT TIME WILL TELL OIL IS NOT GOING DOWN IN A HURRY.
AED Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
