WOW! What a surprise to see some chatter on this forum.
I have spoken with management over the past couple of weeks in an effort to find out if the deal is still on. I am glad to report Indonesian Gas/Oil play is still on, and in fact they have been beavering away in the background doing the work that is required to formalise the deal. I was informed that this has involved much more work than they anticipated. I mentioned my displeasure about the time this has taken and the failure not to meet the stated time table.
Management are quite embarrassed with not meeting the stated time table, I requested a new time table that the company will meet. I was informed that they will refrain making such comments. I got the feeling that experience has shown them in dealing with certain foreign governments/department that ones interpretation of soon is not what we would call soon. I requested a shareholder update be released.
Management remain upbeat about the company?s future. Obviously they could not go in to specifics. I have a feeling that the company may be further down the path to finalisation of this deal then they are letting on. Why do I have such a feeling? I have spoken with management quite a few times since I have had funds invested with AEM, whilst they have always been positive (as they should)(yes at time a little frustrate) with the progress being made, I noticed a positive tone in their voice which has been absent from my previous chats with the company.
The recent sell down (which was dumping in to the buying) in the share price would have been obvious tax loss selling and those that are frustrated, which I completely understand. With the sell depth not changing from week to week (apart from orders expiring) I would say that despite the odd frustrated seller (which I have taken advantage off) that the days of cheap (under 1c) shares are limited.
D: I hold plenty.
Cheers
Clever1
EOR Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
