Sunday, September 7

Aminex and MXO on the move at last!

Aminex and MXO on the Move

Back in July I mentioned Aminex (AEX) as being one to watch as a possible very interesting recovery play, - http://www.sharescity.com/2014/07/aminex-small-cap-to-watch.html - well it finally made a significant move last Friday (5 September) when it moved in the region of 30% after a presentation of the 4th
The new interpretation, over the Ntorya discovery, shows that Likonde and Ntorya are connected at the Cretaceous level and based on the recent 2014 seismic programme, management estimates of the resources have increased from 1.2 Tcf to 1.9 Tcf (Pmean GIIP). Jay Bhattacherjee, Chief Executive Officer commented: "We are highly encouraged by the results from the seismic programme. The increase in resource confirms the world-class potential of Ruvuma, which is being proven in the offshore blocks. We look forward to updating shareholders with our developments."
chartists will note that there is 1st resistance @ 1.375 with 2nd resistance @ 1.505. Monday could be an interesting day as one tipster, after recommending it as a buy at 1.83p and watching it collapse to below 0.8p is now saying it is a sell at 1.25p after a surge from .9p !


Sounds like a tipster who really knows his stuff ! Checkout the 9 month chart - note the volume - 5% of the total number of shares traded in 1 day apparently




Another share that is also well on the move is MXO


up from 4p to 4.6p in 2 days with the promise of a lot more to come - heading towards 20p according to some, well that would be nice ! At just over 1p AEX probably has the greater potential but it also offers the greater risk! MXO seems a safer bet but both look like they could be very interesting.

Thursday, July 10

Aminex a small cap to watch

Aminex - small cap penny stock worth a punt?

I don't normally take much interest in oil and gas companies, but one that caught my attention recently is Aminex (AEX) an "oil and gas exploration and production company with two operated discoveries in Tanzania" - purely because of the awful chart.

The chart has been awful for a long time but is now showing signs of life. It therefore has become what I consider to be a "risky punt" share that I am willing to put a small amount of cash into in the belief that it has a good chance of moving a lot higher in the not too distant future.

Take a look at the miserable 10-year chart - but notice the recent pick-up in volume





Production is  expected to begin in early 2015 using a new pipeline being constructed for the Tanzanian government funded by our inscrutable friends the Chinese.  The Tanzanian discoveries have an estimated mean gross resource size of 1.2 TCF and Aminex’s Tanzanian acreage position is estimated to have a total of 11.5 TCF in mean gross resources, it is also close to some of the largest discoveries made in this exploration and production province.

It is also worth noting that Malcy a respected oil blogger considers Aminex worth watching -
The shares, having been a very poor performer have picked up recently and whilst only one to watch at the moment  should definitely be on the radar screen
- see full write-up here : http://www.malcysblog.com/2014/07/oil-price-premier-san-leon-range-resources-aminex-sundry-wood-group-ithaca-hurricane-and-finally/#sthash.lLLdpidZ.dpuf -

Personally I consider that it might move at any moment so I have picked up a few, more cautious punters might want to wait until it gets back above 1p or the 200-day moving average- I will probably pick up a few more when the chart moves above recent resistance levels around 1p.

2-month chart - the price bottomed out back in April at under 0.6p and has been moving slowly upwards since