I don't want to blame the manage team too much. Re-think AED IPO on March 2005 at $0.80, and today, 3 years later at $2.30.
It tooks only 30 months from planning to production, much faster than any other junior oil companies, no matter Woodside spent 12 years to find their first offshore oil field in 1960s.
They only met technical drilling problem and meanwhile ran out of money. But it is unfair that the managers should take all the responsbility.
If they are lucky and don't have such lower production problem, we would see a healthy SP above $15 even the drilling failed in Puffin SW, and they would be among the greatest managers in 2007.
Anyway, AED should be bright again in the near future.
AED Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
