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, I don't know what you're talking about, have you sold? There was plenty of buying and as such an illiquid stock the price movements are sensitive. I think AEX maybe about to present to brokers and the co may get written about in the share mags, then the buy orders will really flood in, what's happening at the moment is anticipation of more announcements and presentations and momentum is pushing it higher. Let's face it, at less than 20m cap, this share has a long way to rise.

Its a shame lafter looking at Pauls comments I cancelled my original order of 145000, and instead just bought 50000 only @ 17.70.

SWW, looks like a certain TMF'r has been busy then! :-)

Correction the price I paid was 13.70

I personally think you would be mad to be out of this over the next week or so.

Good post on TMF:

http://boards.fool.co.uk/Message.asp?mid=9501796&recscode=2

The reason buyers are flooding in, is that AEX has been flagged up on a lot of people's screens by tripping lots of different signals. The MM's are playing games, but only to maximise their takings.

Hi All,

I am still 100% in AEX.

All I am saying is this is a long term stock for maximum gain. I also know that Edison Research were waiting for Brian Hall to come back from DPRK, so that he could review their note, and sign it of for release, that has not happened yet, and they are the only broker I know of that have a note on Aminex.

Lemminginvestor asked to speak with a company representative, but were snubbed, not even a reply to their e-mail, although Elric has asked again, and if they still ignore him, lemminginvestor will not do any research notes on Aminex.

I am sill 100% confident of my own research, and I won't pump 'n dump it, rather I will wait for the 2 years plus, and reap the maximum gain.

Cheers,
PM

Other brokers following AEX are Oriel and Davy, the UK and Irish brokers for the company.

Oriel did a note initiating coverage on 17 August with a buy.

Paul - Oriel Securities rated AEX a buy last week but seems to have gone unnoticed. Check out Bloomberg - no target price though

DHarris Hi,

Haven't heard of that note before !

I tried to get notes from the other brokers, but could not seem to find anything online, other than Edison Research.

Can you send me the note ?

stanelco@gmail.com

Thanks in advance :)
PM

Hi dharrisp,
how can we have a look at Oriel's coverage note? if you have it can you please post it on this site. Thanks
Mrs Lords

And large investors!!

Sorry guys but I cant post the note due to the copyright issues and the fact that we have signed agreements with Oriel.

D

dh - can you provide us with a brief resume?

Its basically an introduction to AEX going through their operations round the world and prospects. Not that much different to what is in my note on TMF.

Darron

Hi Darron,

I take it that that post on TMF is yours then? Cracking post and thanks for taking the time to outline the case.

EE's post on the risks is also excellent and well worth a read for those who may have missed it.

Cheers

Gav

No problem Gav and Thanks.

Certainly everyone should be aware of the risks that ee has outlined much better than I have.

Darron

The increased activity of the last couple of days is now clarified with the announcement by Darron's Company.

As mentioned several times on TMF this is not for widows or orphans but the risk reward ratio at the current time (the current market cap is only around 20 million) to what may happen should North Korea start producing oil is extremely attractive.

;o)

gav - just seen you last and Darron has been kind enough to post here too.

Kids and School Holidays..........

How can I trade like this in bits and bobs....

Doh!!

Hi All,

DPRK is at best a couple of years from producing oil, although significant finds by Aminex next year or the year after, would certainly 'make' this company.

I would really like Aminex to re-open Nyuni-1 and use some decent equipment down there to get the oil flowing and measured, then we could be looking at support of 30p a share or more, while we wait for DPRK results.

Meanwhile Oil is only going one way ....

Cheers,
PM

MARKET WATCH
Crude futures prices hit new highs

Sam Fletcher
Senior Writer

HOUSTON, Aug. 25 -- Crude futures prices escalated to record highs Aug. 24 in the forefront of an approaching storm and worries about tight gasoline supplies.

Tropical Storm Katrina is expected to strike the coast of southeast Florida as a minimal Class 1 hurricane early on Aug. 26. The storm will likely miss most offshore oil and natural gas operations in the Gulf of Mexico and therefore is expected to do little damage in those waters. Still, the memory of earlier storms that have curtailed gulf production was enough to worry traders.

Markets also reacted to the Aug. 24 report by the Energy Information Administration that US gasoline inventories plunged by 3.2 million bbl to 194.9 million bbl, at the bottom of its average range during the week ended Aug. 19 (OGJ Online, Aug. 24, 2005). "Demand growth continues to be robust for gasoline," said analyst Paul Horsnell of Barclays Capital Inc. in London.

"There are two simultaneous, but different, processes of price formation at work in the oil market at the moment," Horsnell explained. "First, there is the gradual feeling out of the nature of the interaction between oil prices and the macroeconomy, which is an attempt by the price mechanism to rebuild a sufficient degree of slack along the supply chain." The other process, he said, is "more short term and dynamic and concerns the impact on prices of there being insufficient slack along the supply chain at the moment.

"In other words, the first process seeks to find a price that could offer a sustainable balance between supply and demand, while the second process prices in the additional degree of risk produced by a system with limited flexibility," Horsnell said. "The jury is still out as to whether higher prices are sustainable in terms of their macroeconomic impact, while there are some immediate issues, (eg, hurricanes, refinery outages, Iran, Iraq, etc) that could cause a further short-term move up."

Energy prices
The October contract for benchmark US sweet, light crudes escalated by $1.61 to a record-high closing of $67.32/bbl on the New York Mercantile Exchange, before bumping up to an all-time high of $68/bbl for a front-month contract in overnight trading. The November crude contract gained $1.53 to $68.01/bbl. On the US spot market, West Texas Intermediate advanced by $1.71 to $67.08/bbl. Gasoline for September delivery jumped by 6.78 to $1.93/gal on NYMEX. Heating oil for the same month increased by 4.6 to $1.87/gal.

The September natural gas contract soared by 30.1 to $9.98/MMbtu on NYMEX, "on a firm [spot] cash market, concerns about Tropical Storm Katrina entering the Gulf of Mexico, and a soaring crude oil market," said analysts at Enerfax Daily. EIA reported Aug. 25 a 60 bcf injection of natural gas into US underground storage during the week ended Aug. 19. That compared with injections of 52 bcf the previous week and 84 bcf during the same period a year ago. US gas storage now stands at more than 2.5 tcf, down by 27 bcf from a year ago but up by 136 bcf on a 5-year average.

In London, the October contract for North Sea Brent crude increased by $1.36 to $66.01/bbl on the International Petroleum Exchange. The September contract for gas oil gained $2.50 to $590.25/tonne.

The average price for the Organization of Petroleum Exporting Countries' basket of 11 benchmark crudes rose by 75 to $58.90/bbl on Aug. 24.

Agree with all re the risk warning here, it's not to be taken lightly. But I would hope all here realise that.

SWW, perhaps you need another pc, or someone to look after the kids during the holiday's!