Asia energy has been flying high recently,does any one think with the change of advisor,this will rocket.

Anyone think it rather strange that even with the big guys increasing their holdings (ABN Amro, Fidelity, Morgan stanley) the sp keeps on falling? Tree shake to weed out weak hands...whilst the banks pick up cheap shares? Any thoughts?

I have heard they are looking at a placing at 570 per share - only thing I can think of.

UK smallcap opening - Asia Energy up on Bangladesh coal field prospects
AFX


LONDON (AFX) - Solid support was seen for Asia Energy, 16 pence higher at 565, amid City whispers that the company is about to announce that its huge coal field in Bangladesh is over 20 pct bigger than previously thought.

Whispers confirmed
Actually 41% bigger, anyone else in this?


Asia Energy PLC
27 May 2005


Asia Energy plc ('Asia Energy' or 'the Company')

Asia Energy's Phulbari Coal Resource increases by 41% to 522 million tonnes,
according to JORC Standards

Asia Energy announced today that its coal resource at Phulbari in northwest
Bangladesh had increased to 522 million tonnes to JORC Standards, 41% higher
than previous estimates. The previous JORC compliant coal resource was stated at
370 million tonnes in the Company's admission document in March 2004.

The updated total, released in a Resource Statement produced by coal geology
specialist, Mr Frans Bos of Melbourne-based independent consultancy GHD Pty Ltd,
was determined in accordance with Australia's Joint Ore Reserve Committee (JORC)
Code, which is an internationally accepted standard of resource definition.

The Statement said exploration drilling of the basin had established that the
Phulbari resource now stands at 306 million tonnes Measured, with a further 72
million tonnes Indicated and 144 million tonnes Inferred.

The Company said sufficient drilling has been done to have most of the Inferred
coal tonnage upgraded to the Measured and Indicated categories, once the last
batch of coal test results are analysed.

This is expected to bring the Measured and Indicated Resources to some 500
million tonnes within the next few weeks, the Company said.

'This is a highly positive resource statement and a major milestone for mine
development at Phulbari,' said Asia Energy's Joint Managing Director David
Lenigas. 'Drilling is continuing in the south where the coal deposit remains
open, and we confidently expect to find more high quality coal in this area.'


Up just under 10% and probably much further to go on this sort of news.

PTH

Yep - and I've got a great big smile on my face. Also found out this morning EK closed his short on these and went long - lucky sod, I'd hoped he'd get his fingers burnt. Can't see much holding these back now.

Erratic price movements though, you dont know if its going up or down.JB.

Jimmy

I'm sure it will settle down, was up 80 points just after the release of the news. Was very tempted to offload, but made a stupid mistake with Cairn Energy when they announced their big finds. SP shot up, started to come down on profit taking, I stampeded myself into selling and watched the SP triple over the next few months. I imagine this will make the papers over the weekend / bank holiday and give everyone else chance to dive back in next week. SO, I'm happy to hold, no matter what happens today.

PTH

Hold on to them - these are still dominated by institutions who don't seem to be able to react quickly (although Fidelity have gone straight in and topped up) price movements in the past have had a day or so delay.

PT ive watched this before and sort of forgot about it, but looking at it now i'd like to get back in seeing as it was about 900p the other day, have you held this for some time ?

Jimmy

About 5 hours!!!!!!!

Opened a position this morning based on the rumours!!

PTH

I may do the same , i'm watching,, this one swings so much it could give you a heart attack, looks stable now .Cheers .JB

gavin

Sorry, didn't notice your post, thanks for the advice.

PTH

Market forces

--------------------------------------------------------------------------------
Coal upgrade fuels Asia Energy

Neil Hume
Friday May 27, 2005
The Guardian

Some serious money has been blown in resource stocks of late. In the past month or so hundreds of millions of pounds has been lost as sentiment has turned against the sector in the wake of high-profile disasters like Regal Petroleum.
However, in the next few days there is likely to be some good news from Asia Energy, one of the biggest and better quality exploration companies listed on the junior Aim market. Informed City sources believe it is about to announce that its huge coal field in Bangladesh is over 20% bigger than previously thought.


Article continues

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Earlier this month, the company said it had extended its drilling programme because coal had been found over an additional 3.5 kilometres to the north and south of the original basin limits. The deposit, called Phulbari and situated close to the Indian border in north-west Bangladesh, is estimated to contain over 400m tonnes of high grade coal.
The resource upgrade is likely to spark speculation of a bid for Asia Energy and traders believe Xstrata , the FTSE 100 mining group, up 24p to 982p, has already cast an eye over the company.

Asia Energy, which peaked at 900p in March, closed 19p higher at 549p, while Cambrian Mining, which owns 27% of the company, gained 5.5p to finish at 126.5p

************
The resource upgrade is likely to spark speculation of a bid for Asia Energy and traders believe Xstrata , the FTSE 100 mining group, up 24p to 982p, has already cast an eye over the company.
************

Look at shorters burning their cash in WNL, would you still short AEN?
AEN is going to rocket up!

Interesting post Charlie, took out a position on Friday based on the rumours of a bigger coal find. Would expect to see a significant rise this week once the news has had time to settle in. Pity EK apparently closed his position prior to the RNS!!

Thought this might have made some good gains today. Can't believe that the recent news and takeover speculation / rumour will not have a positive effect on the SP???

Thought this might have made some good gains today. Can't believe that the recent news and takeover speculation / rumour will not have a positive effect on the SP???

Same here pt, more buys and it goes down, and whats that 1 share sold, goes down again , surely it has to go up this week.

jimmy

This small transaction business of 1 or 2 shares is supposed to be some sort of tic-tac between the MMS, it would be nice to be able to confirm that one way or another. The MMs don't seem to be particularly short of stock, so it might take a bit of volume buying to get it on the move again. Interesting previous post, insomuch that the Institutions can take their time to move into this share. I shall certainly hang on for now and watch developments.

pth

I still feel this will rise pth' like you say we need some volume and its been a bit quiet today..JB..