Marksman, Unfortunately your name is well off the Mark, quite...

Marksman,

Unfortunately your name is well off the Mark, quite simply you haven't nailed anything! Except maybe your eyes and ears shut. A close of 2.37 today starts to prove it. The reports issued this afternoon and the FIRB approval further highlight the errors in your past comments since March. But it is time again I highlighted some of your earlier work.

This is Marksman post from 8/2/08 this year.

"Unless somebody is trading on insider info this is so over the top its laughable! Quite frankly this panic - and there is no other word for it - is totally unjustified.
My associates and I are still holding at just under $2. We have no intention of selling.
Mark my words (geddit? Marks-man!) AED will be broke or trading above $5 by Christmas.
The market in AED is currently in the hands of panic merchants. No question about that"

Now, that we know AED isn't going broke (in fact far from it) I have to agree with you. $5 by Christmas!!!!!!!!

Now that we have the production detail. We will have a situation with $350M in the bank and looking at baseline profits of $12M per quarter. I say thats baseline because there is a lot of upside. $12M is based on a per barrel hedged price of US$70 until say August and as the report says, wells are rectifiable and production can improve 2-3 times. This does not include interest revenue on the $350M.

For a company currently valued at $358M ($2.37 per share), still looks cheap to me.

Eager to see your next doom and gloom assessment. Not.