wish I bought moreHi boys;
I've been picking away at the shares since Jan. but as always wished I had bought more as the SP has doubled since then.
As I stated back awhile ago I was in contact with Stephen Greer before Christmas and asked about AEN's position going forward. The following was his reply.
" The current share price has little relation to the asset value behind the company and more to do with the perceived requirement for future debt and the associated potential for the investor dilution".
The company has:
US$50 million in cash
US$50million in an undrawn facility with HBoS
We do not expect any major capex until the 3rd Q 2009
We expect to file the Field Development Plan for the UK North Sea Causeway property before the month end.
We expect to file the FDP for the UK North Sea Fyne property mid 2009
We have positive cash flow from Argentina
Majority interest in all our major properties
Control over the pace of development
Control over the rate of expenditure
Large interest holdings in our properties also allows us to fund operations by potentially "selling" interest in the properties.
"We do not have any outstanding debt and have no plans pr need to issue additional shares"
"Clearly this is a difficult market but I view Antrim as being in an enviable position relative to many other explorers and developers."
Hope this helps,
Stephen Greer
CEO, Antrim Energy.
As I have said before, anyone can contact the company they are interested in and do their own DD before investing.
Sorry I was being a bit selfish in not sharing this with this board as I needed to have some time to load up before AEN stated to run again.With the company meeting weeks away, I'm sure Stephen will basically repeat the same message he had sent to me, with the exception of a little less money in the bank.
As Cohoe has stated, beware of the pump and dump guys and shorts posting. The market looks to be getting positive but you never know. My view on AEN is positive and safe with time being a factor. I'm betting on it.
Hope this is of some help to all. Regards Einstein54