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

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.

you do no that there will be a bid .

I've heard rumours of Tata for ages, but no more than rumours

one of those stocks with ENOURMOUS potetial bust cashflow a bit of a way off...i would add on weakness here but is a 2-3 year hold...

rgds
PT

Take a look at EKA Eureka mining thread. If I am right and if market conditions hold it could make Asia Energy's gains look small

AEN could be finding a base

Some recent put back in start times for the mine will dent NPV calculations quite a bit but still ovr 100% above current share price using 10% disc rate

Managed to get some institutes to pay 450p a share last week for more stock

Also note they do pay CBM $1/tonne royalty. By the way calculated on 570m tonne mine, using 15m tonnes mined a year and a disc rate of 10% this royalty is worth to CBM more than its current market cap !!!! CBM is trading at a disc of c20% to its listed assets. It has unlisted assets and the royalty too !!

Talking my own book as usual

A sad day, A big drop !! what Happens next ?

AEN has been suspended at a miserable low of 118p today...bye-bye Bangladesh!


Bangladesh bows to protestors, cancels Asia Energy's 1.4 bln usd mine plan
AFX


LONDON (AFX) - The Bangladesh government said it had bowed to demands from protestors to cancel a 1.4 bln usd plan by London-based Asia Energy PLC to build an open-pit coal mine.

'We have agreed to all the demands (of the protestors),' Asadul Habib Dulu, junior minister for food and relief, told AFP after almost a week of demonstrations against the project.

'The first demand was that the government will have to cancel all its existing agreements with Asia Energy and we have agreed to that,' said Dulu, who led the government side in talks with protestors at Phulbari in northern Bangladesh late yesterday.

'The second demand was that there will be no open-pit mining at Phulbari or elsewhere in the country,' he added.

Plans to construct the mine, 350 kilometres north of Dhaka, stirred huge protests by farmers and locals who said it would damage the environment and displace more than 100,000 people.

The protests intensified and spread to the capital on Saturday after at least five people were killed when paramilitary forces allegedly fired into a crowd of thousands as they tried to storm Asia Energy's offices in Phulbari.

A police officer was also killed in protests in Dhaka on Wednesday.

Asia Energy has said that 40,000 people would be displaced over three decades and those affected would be compensated.

The company said today it had no comment on the government's statement.

will Asia Energy be able to salvage an agreement ? OR is this good by ! I hope not but only time will give the ans

Smiler, I have replied to your mail. hope the answer helps. Agree the current situation looks a bit bloody, to say the least.

Soul T

Got it many thanks, theres always AAU?? Good luck !

Aen back from suspension !! :)

up 17% at 0930, good start :)

06.10.06

Asia Energy PLC (the Company) has today requested that trading in its shares is resumed on the AIM market.

On suspension of trading on AIM on 31 August 2006, the Company announced that it was seeking to clarify the press reports relating to the development of the Phulbari Coal Project (Project).

The Company has received no notification from the Government of Bangladesh of any changes to the terms of the Companys contract and the Directors do not believe that there are any grounds for the contract to be terminated.

Progressing to the next stage of the Project remains conditional on the adoption of the Government's proposed new Coal Policy and the Government granting approval of the Scheme of Development for the Project.

By UNB, Dhaka
Sun, 15 Oct 2006, 11:51:00

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Energy Ministry Advisor Mahmudur Rahman Sunday admitted that he had failed to convince the policymakers to take a bold stand on the Phulbaril coal-mine project.

I admit, this was my failure to convince the government but media also should share the blame, he said while addressing a Meet-the-Press programme at Dhaka Reporters Unity. The Forum for Energy Reporters, Bangladesh (FERB) organised the programme on five years of energy sector under this government.

Mahmud said the group, which is opposing the coal mine project at Phulbari, has more influence on the media and the government. He said the next government has to take a bold step on the Phulbari project and declare a coal policy already drafted by the countrys experts.

The Energy Ministry Advisor said the next elected government should take a policy to encourage setting up of coal-based power plants instead of the present gas-based ones.

He said his main success in his 14-month tenure in the Energy Ministry was reducing corruption and irregularities in the ministry and its sub-ordinate bodies.

FERB Chairman Mollah Amzad and Executive Director Mahmud Hafiz were present at the function.


Copyright 2003 by The New Nation

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