RESULTS LOOKS GOOD WITH MORE TO COME.

Agree seems to be undervalued if production can be maintained at 25000 boepd perhaps they need to improve their PR. Is production likely to increase in coming months?

A heading with EME in it. Must be an attractive thread methinks. ;-0

Now then, who is Anzon Energy? ;-))))

Since the 50% share of the Australian production is held through its subsiduary, Anzon Australia, in which Anzon Energy has a 51.4% share, the production due to Anzon Energy is about 25% of the 25K as I see it. Still good production for a 90M Mkt Cap me thinks. It also has other projects in Indonesia and NZ. DYOR.

90m it states 240m on fundamentals. which is correct?. ive not looked in depth so c9 if you know?. what are est. reserves on licenses?. cheers.

Anzon energy - Hmm. I know a bit about it.

Please don't try to compare it with EME, that really is not fair on Anzon.

Mind you my bargepole has butted this one away too!!

Someone getting excited about this after the recent problems!

Anzon Energy Limited
10 August 2007

ANZON ENERGY LIMITED (CODE: AEL)

10 August 2007

ANZON ENERGY LIMITED ANNOUNCES THAT ITS SUBSIDIARY
ANZON AUSTRALIA LIMITED (ASX CODE:AZA) HAS TODAY MADE
THE FOLLOWING ASX ANNOUNCEMENT

ANZON AUSTRALIA LIMITED SELLS 10% OF BMG PROJECT TO ITOCHU

Anzon Australia Limited (Anzon) will receive A$123 million having concluded
negotiations with the global ITOCHU Corporation of Japan for the sale of 10% of
the Basker Manta Gummy (BMG) Joint Venture (JV). Anzon and Beach Petroleum
Limited (Beach) each divested 10% of their holding to ITOCHU Corporation which
will use its wholly owned subsidiary CIECO Exploration and Production
(Australia) Pty Ltd to become a 20% participant in the JV.

In less than three years since listing on the ASX (December 2004), Anzon is
operating a producing offshore venture valued in excess of A$1.2 billion and is
effectively debt free. The Company has recorded an operating profit each year
since listing. Anzon is now ready to broaden its portfolio of assets and
continue its aggressive growth objectives.

Anzon has enjoyed a rapid growth achieving many milestones in its short history
through innovative development and production. The fast-tracked development of
the Basker Manta oil project commenced when the Company secured the Floating
Production Storage and Offloading (FPSO) vessel, the Crystal Ocean, barely a
week after listing on the ASX, a unique vessel suitable for Bass Strait
operations. In less than eleven months the Company joined the ranks of Australia
's leading oil producers with the JV initially producing an average of 8,000
barrels of oil per day. Anzon is only the second Operator to have produced oil
in Bass Strait.

Employing innovative state of the art technology, Anzon combined the services of
the FPSO Crystal Ocean with the Aframax-sized shuttle tanker, Basker Spirit. The
FPSO and shuttle tanker guarantees minimal footprint and virtually zero
environmental intrusion. In another milestone event, on January 13, 2006, Anzon
completed the first ever ship-to-ship transfer when the Basker Spirit
transferred 300,000 barrels to the Braveheart in Westernport Bay, Victoria. The
JV achieved the sale of 1,000,000 barrels during its second year of operation
and has now produced in excess of 2,000,000 barrels.

The internationally acclaimed 'Offshore' Industry Magazine applauded Anzon for
its innovative techniques, naming the BMG Project as one of the Top 5 in the
world in 2005.

Executive Chairman, Steven Koroknay welcomed ITOCHU stating:

'We are extremely proud to welcome ITOCHU Corporation as a participant in the
BMG Project.

The ITOCHU Corporation is a highly respected international organisation built on
strong global investments. Their input not only inspires confidence in our
operation but provides unique opportunities for Anzon to grow internationally.'

The farm-in agreement gives a gross value of the BMG project as A$1.23 billion
with Anzon and Beach each receiving A$123 million for their respective 10%
divestment. The consideration was determined after a competitive tender process
including several weeks of significant due diligence in respect of all aspects
of the BMG Project.

Mr Koroknay believes the farm-in agreement validates the soundness of the BMG
Project and Anzon as the project Operator. The Joint Venture will benefit from
the technical competence and financial strength of ITOCHU.

The Company commenced in 2004, with full ownership of the fields in the current
BMG JV, and with appropriate risk and financial management it now owns 40%,
operates the developed oil fields and is effectively debt free. Anzon will
continue to seek new and exciting projects and looks forward to a prosperous
association with the ITOCHU Corporation.

On completion the participants in the Basker Manta Joint Venture will be;

Anzon Australia Limited 40% (Operator)
Beach Petroleum Limited 40%
CIECO Exploration and Production (Australia) Pty Ltd 20%

For further information please contact:

Anzon Energy Limited: Mr Tony Strasser +61 2 9922 7899
Grant Thornton Corporate Finance: Fiona Owen +44 20 7383 5100

Anzon Australia announces approaches from interested parties...................could be some activity tomorrow!

Interesting.

Good luck here.

Anybody manage to get in before the big rise?