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

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.

Doc Hi,

Thanks for that, I too have found several analysts who claim oil will be $100 a barrel next year, and after peak output is reached, production will drop, demand will exceed supply, and prices will go up again.

Make as much money out of the situation as you can, or it will cost you money :)

Cheers,
PM

A weird thing ..................
I placed an order to buy this morning (for an odd number of shares so that I could check it on the trades screen).
According to my broker I managed to get the order at 16.25p at around 10.35am
The trade has not appeared on the screen yet, if it did, it would make a healthy increase onto the buy column.
This afternoon I see sellers being accommodated at 16.35p yet the screen quote is 16.00p bid.
This is all a bit misleading.

K******

Krypton,

Was it through TD Waterhouse? If so, I think they put some trades through on Virt-X. Perhaps it went through there.

http://www.virt-x.com/

I think the MMs are playing a game with this stock. If you look closely at the bid & offer price you will see that, although the bid price is 16p they are accommodating these at 16.35p where sellers have set a limit price. By not showing all the purchases on the screen they are managing to distort the market. This only means one thing that they are really short of stock. Once they have accumulated enough stock it should move up the next resistance level, which is 18p. This I expect to happen soon with the talks taking place between North Korea and US on the nuclear issue on 12th September. Once the resistance level is broken, the next level is 60p. I am holding tight infect I have been topping up every time it drops.

Doc Hi,

The price won't go from 18p to 60p directly, as it has to breach previous highs, as I posted a few days ago ....

Cheers,
PM


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.

Hello folks
I believe the North Korean talks begin again next Monday.
There should be some action in the SP too depending on how things are progressing.
Let's hope for some positive news !!!

Mono