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

Hi
Been on holiday with the children, I see AEX is doing well as expected. I forgot to leave a note for BLR. Its been doing well. There is still more upside to come.

Diana Hi,

You reckon ????

Any particular reason ????

Cheers,
PM

Ah, there's the reaosn for the spike this afternoon:

228k, 225k and 237k Delayed deals all at 16.75p

Thats the second raft of three trades in size today. Someone likes AEX.

Quite right too! A very nice end to the week.

With the close at 17.5p, we are almost at the one year breakout, that should occur next week. 27p is the 3 year breakout target.

Also the 50 M.A is shown heading towards the rising 200 M.A ready to hopefully form a 'Golden Cross', one of the most bullish signals ever, signifying a long bull run, AFTER the cross.

MM's are pushing up the price, and each time you see them buy, it is followed by a .25p rise. We also have others accumulating AEX, as shown by todays buys.

This all leads me to think 20p to 27p is on the cards within 2-3 weeks.

Published September 02. 2005 1:15PM

North Korea Envoy, U.S. Lawmakers Meet

North Korea's chief envoy for talks aimed at ending its nuclear weapons ambitions met visiting U.S. lawmakers Friday as the communist country criticized joint military exercises between the U.S. and South Korea.

Kim Kye Gwan was present at a meeting between North Korean officials and the U.S. delegation led by Rep. James Leach, R-Iowa, the Korean Central News Agency reported in a short dispatch, without providing details of the talks.

Kim Yong Dae, vice president of the Presidium of the North's Supreme People's Assembly, was also at the meeting, according to KCNA.

Leach and Rep. Tom Lantos, D-Calif., met Foreign Minister Paek Nam Sun in Pyongyang on Thursday.

Also Friday, an unnamed spokesman for the Committee for the Peaceful Reunification of the Fatherland said the annual U.S.-South Korea military drills show "who is chiefly to blame for disturbing peace on the Korean Peninsula and escalating the tension and confrontation."

The Ulchi Focus Lens exercise, which is largely a computer-simulated war game, ended Friday after a 12-day run.

The six-party nuclear talks went into recess last month after failing to agree on a statement of principles meant to lead to an overall resolution of the nuclear standoff.

The talks - among the two Koreas, the United States, China, Japan and Russia - were supposed to resume this week, but the North said Monday it wants to resume the talks during the week of Sept. 12, citing the military exercises

Russia approves date for resuming North Korean nuclear talks

13:49 | 02/ 09/ 2005

BEIJING, September 2 (RIA Novosti, Alexei Yefimov) - Russia approves of North Korea's proposal to resume six-party talks over the nuclear problem on the Korean Peninsula in mid-September, a Russian Embassy spokesman in China said Friday.

On August 29, a representative of the North Korean Foreign Ministry said that Pyongyang was ready to resume the talks, which involve North Korea, the United States, China, Russia, South Korea, and Japan, during the week beginning September 12. The Chinese Foreign Ministry has also agreed to this date.

The fourth round of talks, which started on July 26, was suspended on August 7.

Close up of the 50 M.A about to cross the 200 M.A to form a 'Golden Cross'. This is a TWO MONTH chart, so as you can see, there is not long to go !!!!



The Golden Cross is a very rare signal under normal market conditions and is one of the most significant bullish signals to be generated by any trading system. It almost always precedes a significant bull run in the instrument. To form a golden cross, the 50 day moving average must cross from below the 200 day moving average to above the 200 day moving average, whilst the 200 day moving average must also be rising. It is particularly important that the 200 day moving average is rising, since this often provides support for the coming rise. It signifies that the instrument has truly bottomed out and is beginning a new and major bull run. Confirmation that the market has finally begun to turn bullish when Golden Crosses appear in the indices and in many of the underlying companies.

Very tempted to top up!

Would break my rules on speculative sp which usually serve me well but even so..............very tempted!

PM 1: Many thanks for the added info on Zarub, and the update on the political situation. Clearly, Zarub are valuable travelling companions to have aboard, particularly as they may be holding important seismic data. The news prompted me to scour my portfolio for any under-performers that might fund a top-up in AEX, and it obviously encouraged others to do likewise. Your predictions for the sp happened very quickly, and I sense there us more to come, maybe a lot more.
sd.

Oil prices at 100 usd/barrel no longer unthinkable in wake of Katrina.
http://www.afxnews.com/about488/index.php?lg=en&c=00.00&story=1280037

Paul, where did you get the graphs from? Excellent analysis, keep it coming.

Has any one got an idea what the MM's are playing at? I bet they will mark it up again tomorrow. My opinion is that they saw all the stop losses on their screen and marked SP down so that they can absorb all the sales. As soon as that is done they put the bid price up. The last purchase was @18p. So folks be careful about your stop losses, it might just cost you more to get back in.

Rob Hi,

The first one is a screen print from the charting on advfn, then I cropped it and added the lines in Paint :)

The second one is straight from MAM charting :)

I think another flag will form with the profit taking, then the MM's will push it over 20p I reckon.

Cheers,
PM

Thanks for that Paul. I think we may see a levelling or slight retreat over the short term, but I'm holding on for the longterm. Meanwhile LGB is set to shoot this week. :) Patience Pays..

Not to worry, i can't see any sensible investors moving out before September 12th.

As I thought, some profit taking, I see this settling back a little bit.

Hi All,

Looks like my flag is forming :)

Another couple of days, and those MM buys will be starting again, ready to attack 20p :)

Cheers,
PM

Doubled up this morning. Pleased with the spread, unhappy i had to wait so long for the funds!

CNOOC Chief Economist Predicts $90 Oil by March.

RI article on the views of Xia Yishan, Senior Research Fellow at the China Institute of International Studies.

SHANGHAI (Interfax-China) -- Oil will peak at $90 per barrel by March of next year, CNOOC Dep. Chief Economist Zhang Weiping said at conference discussing China's energy needs in Beijing on Monday. Zhang also expected global oil production to peak at 94-100 mb/day during the next five years.

"High oil prices will have adverse affects on China's economy," said Zhang.

Their imports could reach or even exceed $60 billion this year, up from $40 billion in 2004. Interestingly his views do not reflect much of a cutback in Chinese oil imprts.

China's annual crude demand is expected to rise by 9.7% this year, suggesting that the country will need to import 135 million tonnes this year, accounting for 42.45% of total demand and exceeding last year's figure of 40.5%, said a recent report by the Development Research Center under the State Council.

The country's net oil imports stood at 120 million tonnes in 2004.