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

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.


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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 !

Looks like this may be the turn around.

unfortunately, got stopped out for a loss on this one. Hard to believe that after a report that the field is 41% bigger than originally thought, the SP tanks 100pts! Feel a little bruised, particularly as I was sitting on a nice tidy profit when the news came out. Hopefully, this does indeed mark the turn around.

pth

Pt, i also got stopped out,,knowing how volatile this one can be , but may go back in at some point.

Nearly sold myself yesterday despite complete faith in these long term, the drift on the price was a worry, but I have learned that the moment I sell is probably the best buy signal in there is!! I think it may be market maker games, dropping the price to scare people into selling in order to get stock for a large order - expect another institutional buy announced any day soon - but hopefully these will spring back sharply now.

Thanks gavin , let me know when you sell anything in future, and ill do the same for you, it happens to me too..Cheers JB..

Anyone still holding this share?

buy

Got to agree Tanker - I'm still in these - its a long term share and at this price I think they are a screaming buy - the RSI is well below 20 and last time it dipped that low the shares rose 58% in no time. If I had any spare cash I'd get some more.