Until 15 minutes before the close on friday this has been a...

Until 15 minutes before the close on friday this has been a terrible dog with many thinking that Brunei would or could go the same way as the Puffin field.

But if Brunei can flow at commercial rate (still a maybe even after fridays anouncement)

Anouncement due from Rombebai with regard to lease extension further 3 years (once extension granted a major would farm in)no extension = lease finishes in Nov 2011= worthless.

3D Seismic due on Puffin Horst 2nd quarter, big targets new plan.

For me all of these will be known before 30 April (the extension given to Bond holders to make an investment decision I think 3 anouncements ago)

If AED gets a positive on the 3 points above then it is massively undervalued however understand none of them are guranteed

In my opinion all 3 will come good may take a little time though i would expect a slow and steady price increase from here with spikes on any news.