From the latest company's drilling update....17 Feb

http://moneyam.uk-wire.com/cgi-bin/articles/200402170700084897V.html

Can anyone with mining knowledge explain these terms....

What does sidetracking mean? Approx how ong will that take?
Approx. how long will it take to correct a deviated section?
Is 'crude oil in shale samples' a good indication that there is oil?
Is 'Gas-bearing porous sands being logged' a good indication that there is gas?
Basically what does logging involve ?

Any views re AEX potential??

Regards
Stephen

paul,

Any reason why the sp going down? Should I get out while I am making a nice profit or is this a buying opportunity shall i buy some more?
kays

Kaysmart Hi,

Profit taking, as would be expected after a 50% rise, buying opportunity for those who are staying Aminex long time !

Could go lower, possibly as far as 10.25p, as that would be about 50% of the 4p the S.P has risen in the last week or so.

Edison brokers note will be out, as I have said before, and that will create more buying, so traders buying at 10.25p or wherever the price stops, will get a second bite of the cherry. Also other analysts/tipsters/press are all waiting for the return of Brian Hall, so they can meet and discuss the PSA announced last week. Plenty to come, after the dip.

Cheers,
PM

Thanks Paul! I think I will buy some more. I have full faith in your research.
Kays

This, like all shares, does not go up in straight lines. See the previous few rises, those who sold out with the first dips missed out on much higher gains soon after.

As Paul has stated there are those who go in with the right issue under 9p anything above 12p looked attractive.

I am expecting a couple more days of red or no movement then another attempt on the 13p mark.

Kaysmart Hi,

Hope you got some at 11.15p before the bounce :)

Adam is correct, AEX always goes up in stages, and with the brokers note next week (hopefully !) plus other coverage(lemminginvestor), that will be stage 2 ....

Cheers,
PM

Thanks for your advise Paul! I am glad I did not panic. Yes I bought a chank again. No more panic regardless of what happens. I am in for longterm.
kays

Nothing goes up in a straight line and this one's only just begun it's rising trend, I think most of us here are pretty confident that it hasn't started yet and see AEX being one for the future (medium - long term) with quite a few opps to trade along the way, although I wouldn't like to be out of this one, any dips will be topping up times for me. I currently don't have a fortune in this one but hope to increase my hdg and should be plenty of activity especially when writtn about in one of the share mags/tipsheets. This is a very small co with huge potential, and relatively small amount of buyers can shift the sp up by large percentage and in my experience, once the institutions start to investin sizeable chunks, the sp will already have trebled/quadrupled from the low. Good luck everyone and hold tight!

DPRK and South korea are slowly building ties, two weeks ago they set up inter-country military phone lines, and opened roads between the two countries, now this, which adds to my sentiment that the nuclear issue will be settled soon, paving the way for Aminex to bring in big oil exploration partners ....

http://thestar.com.my/news/story.asp?file=/2005/8/16/worldupdates/2005-08-16T125305Z_01_NOOTR_RTRJONC_0_-212741-3&sec=Worldupdates

North Koreans have unprecedented talks with South's MPs

By Jack Kim
SEOUL (Reuters) - Senior North Korean communist party officials held an unprecedented meeting with South Korean parliamentarians on Tuesday but skirted talks on Pyongyang's pursuit of nuclear weapons and international efforts to stop it.

Kim Ki-nam, who is also a vice chairman of the North's body overseeing ties with the South, met the speaker of South Korea's parliament and legislative leaders.

Speaker Kim Won-ki said there were issues in international affairs that prevented a deepening of ties with the North.

"In that sense, the six-party talks are important so let's all work together," he told the visiting North Koreans.

The North's Kim thanked the South for the welcome but made no mention of the nuclear crisis.

A 182-member North Korean delegation is in the South for joint celebrations marking the 60th anniversary of the end of Japanese colonial rule over the Korean peninsula.

Members of the delegation, which arrived on Sunday, were also scheduled to meet President Roh Moo-hyun before returning to Pyongyang on Wednesday.

The meetings come during a recess in multilateral talks aimed at persuading North Korea to end its nuclear weapons programmes in exchange for security guarantees and economic aid.

South Korean officials have said they hope the parties in the talks -- the two Koreas, China, Japan, Russia and the United States -- will be able to narrow differences through bilateral exchanges before the discussions are due to resume in Beijing in the week of Aug. 29.

Cheers,
PM

I really think this is an interesting one (so much so that I picked a few up at 11.5p today !!).
The deal with the North Koreans is quite a coup.
Additionally, with the Chinese buying PKZ yesterday at quite a huge valuation compared to previous takeovers, a precedent will be set for valuing new oilfields.
The case with Aminex is that actual oil production is still quite a long way off (both physically and politically).
However stashing few away now may well prove to be one of the best investments anyone will ever make.
Just one look at the various SOCO boards (where everyone is congratulating themselves today on paying off mortgages, buying new cars etc) should be proof enough of having faith in your own research and sticking with it through thick and thin.

K*****

Small position taken earlier today. Have been waiting to see if I could get in under 11p after the last run up, but think that 450k T trade put paid to that idea.

Looks very interesting.

In for a few this am.

Afternoon all !!!
Delighted to see this is ticking along nicely.
If it breaks through 12.5p then next stop is 18p (for the chartists among you).
If there is progress in North Korea then next stop is somewhere in orbit (for the long term holders among you).

K******

Afternoon all !!!
Delighted to see this is ticking along nicely.
If it breaks through 12.5p then next stop is 18p (for the chartists among you).
If there is progress in North Korea then next stop is somewhere in orbit (for the long term holders among you).

K******

K Hi,

The MM's pushed the price up, take a look at the trades, three MM buys in succession, one at 11.5, then one at 11.75, and one at 12.00, they pushed the price up with those three trades, but why ????

Cheers,
PM

PM

They were three relatively small trades too !!!
From past experience (with the fact that the price was marked up too) this suggests a shortage of stock and an attempt to attract some sellers.
The (albeit strange) fact is that one or two sell orders may well have a short term effect of pushing the price up to a level where there is good two way business.

The resumption of positive newsflow will put a complete spanner in the MM's strategy and the price will surge forward anyway.

Either way there is only one direction the share is heading short term.







And it ain't down !!


K******

Have a look at this from Schroders 'Oil at $67 a barrel, where to next'

http://www.schroders.com/content/content/staticfiles/9/Insight_Aug05.pdf

And this one on emerging Asian economies

http://www.schroders.com/content/content/staticfiles/0/Aug05-Emerging-Asia.pdf


Cheers,
PM

More small MM buys, 15k, and the price moving up again.

Afternoon all !!!
Just been reading the thread and looking at the trades.
Looks as though you've all called it correctly.
Agree that the chart looks good up to 18p.
Well done everyone.
Keep up the good work.

;o)

They have been chipping away all day.

"Nothing goes up in straight lines"

Great day thanks PM.any one know whats driving the price apart from oil generally.On that subject my best proforming shares of the last 12 months have all been Canadian tar sands.SYNCRUDE,OIL SANDS TRUST ,SUNCOR,CANADIAN NATURAL RESOURCES.Not surprising when you consider the second largest reserves in the world after Saudi are in stable old Canada on the USA's doorstep.Also the Chinese are attempting to buy in to secure their supplies.Rgds all.That is best proforming shares apart from SEO