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

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

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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

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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

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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.
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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..

Rumours of a takeover by Tata on ADVFN and Michael Walters BB's

gavinwood , why the drop in the sp this morning ??any thoughts..

Poor show on the Dow, generally markets flat, but no real reason.

I see that the buy volumes for the last two days has been less than 100K but the sells have been 500K +. I would have expected this share to hold if not rise with the increase in the size of coal field ? Is this share heading south for a while until some further news ?. If there is some news what might it be ?

Anyone with any thoughts ? Have we reached the bottom ? Still holding but it's getting a bit of a worry !