# MAY - Melbana Energy



## CanOz

I searched the forumn and could not find anything on this one. This is looking very interesting from a technical point of view....love to hear someones fundemental opionion too.

If this pulls back it could set up a nice low risk entry...one to watch?


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## nizar

*Re: MEO - Methanol Australia*

Is anybody else on this?

I bought it on the outstanding bluesky break at .87.
Its a winner.
I got the letter yesterday for the SPP at $1.00.
Funny this is, i was gonna top up MEO the other day, i didnt even know about this placement. But i guess thats what happens when you dont read ASX announcements!

Anybody else gonna participate in the SPP?
Its pretty hard not to at a 40% discount to market


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## nizar

*Re: MEO - Methanol Australia*

Interesting day today, open at 1.46, hi of 1.47, ow of 1.415.
vWAP of 1.4628 

I spoke to a mate of mine on the phone yesterday, he bought a few on July 7th so he could be entitled to to SPP.

But he said to me that he's gonna hold them long term coz he did some research and he thinks they are valued at $6.50/share.

Im not sure how he came to that conclusions but hes a bit of an oil&gas sector specialist, from what i know, he was an early investor in ESG (sub-10c) and also holds a truckload of NXS at an average of about 50c.


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## nizar

*Re: MEO - Methanol Australia*

Im gonna top up my holdings of this one at 2mrw open.
Bounced nicely, seems like a bit of support at the $1.15-1.20 region.


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## AussiePaul72

*Re: MEO - Methanol Australia*



nizar said:


> Interesting day today, open at 1.46, hi of 1.47, ow of 1.415.
> vWAP of 1.4628
> 
> I spoke to a mate of mine on the phone yesterday, he bought a few on July 7th so he could be entitled to to SPP.
> 
> But he said to me that he's gonna hold them long term coz he did some research and he thinks they are valued at $6.50/share.
> 
> Im not sure how he came to that conclusions but hes a bit of an oil&gas sector specialist, from what i know, he was an early investor in ESG (sub-10c) and also holds a truckload of NXS at an average of about 50c.




Nizar, i've been watching this one for quite a while after a tip from a mate in NZ. Looks to have lots of potential. Do you have any details as to how your friend worked out a value of $6.50/share?


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## bigdog

*Re: MEO - Methanol Australia*

ASX ann today

SP at open today still at $1.14

28/08/2007	Commonwealth Approval Obtained for NT/P68 Drilling Program
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00752753

ASX AND MEDIA RELEASE
COMMONWEALTH APPROVAL OBTAINED FOR NT/P68 DRILLING PROGRAM
Key Points:
• West Atlas drilling program in NT/P68 not deemed a controlled action
• MEO obtains Commonwealth environmental approval to drill wells

MELBOURNE, AUSTRALIA (August 28, 2007) -- MEO Australia Limited (ASX: MEO) advises that the Commonwealth Department of the Environment and Water Resources has determined that the Company’s 2007 drilling campaign is not a controlled action and as such does not require assessment and approval by the Minister of the Environment and Water Resources. The 2007 drilling campaign in Exploration Permit NT/P68 can therefore proceed as scheduled.


The Fugro Surveys vessel, M/V Markab, later this week is due to commence the drilling of shallow boreholes at each well location and close to the proposed site of the Company’s LNG and methanol production projects on Tassie Shoal. Approval to undertake coring at the shoal was received in 2002 at the same time the Commonwealth granted approval for MEO to install and operate the methanol production projects on the shoal.


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## moneymajix

*Re: MEO - Methanol Australia*

Meo steps up the pace

Nigel Wilson, Energy writer | September 17, 2007 
THE next four weeks promise to be busy and exciting for Chris Hart, managing director of MEO Australia, the former Methanol Australia.

MEO is planning a gas to liquids project in the Bonaparte Gulf based on its 100per cent-owned Tassie Shoal LNG project and the 50 per cent-owned Tassie Shoal ethanol project about 275km northwest of Darwin. 

By the end of the month the brand new Seadrill jack-up drilling rig West Atlas will be provisioning in Darwin Harbour after being transported from Singapore on the heavy lift vessel, Blue Marlin. 

The West Atlas will be towed to the Heron-2 well location in permit NT/P68 in early October. MEO has also commissioned the rig to drill three other wells in the permit area. 

The Tassie Shoal project envisages two large natural gas reforming and methanol production plants and an LNG production facility capable of producing 3.5million tonnes per annum of methanol and 3mtpa of LNG.


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## Dutchy3

*Re: MEO - Methanol Australia*

Hi Money

Agree ... the hammer put in on Wednesday last week should hold and this one could be picked up reasonably safely at these levels. Mind a close below 1.15 this coming week would have me revise my opinion


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## moneymajix

*Re: MEO - Methanol Australia*

Dutchy

Thanks for your recent chart.

Lot of vol. - 5,573,465

Currently $1.21, up 7.08%.

No news today.


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## bigdog

*Re: MEO - Methanol Australia*

ASX ann today

MEO  	3:18 PM  	Cambrian Oil and Gas Reduces Interest
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00764493

*Cambrian Oil and Gas Plc Reduces Interest*
Key Points:
• Cambrian Oil and Gas reduces interest in MEO from 22.8% to 21.3%
• Shares acquired by existing institutional investors in MEO
• West Atlas drilling rig leaves Singapore

MELBOURNE, AUSTRALIA (September 28, 2007) -- MEO Australia Limited (ASX: MEO)
advises that the largest shareholder in the Company, Cambrian Oil and Gas Plc has recently reduced its interest from 22.8% to 21.3% following the sale of 5 million shares.

Existing institutional shareholders, including Lehman Brothers, acquired the shares. MEO is pleased to see the ongoing support from substantial institutional investors, particularly those that demonstrate strong banking and project financing capabilities. Such shareholders will be fundamental in the future support of the Company’s objectives dependent on the confirmation of commercial natural gas resources during the NT/P68 appraisal drilling program and development decisions to construct the Tassie Shoal Gas-to-Liquid projects.

The West Atlas jack-up rig has been loaded on the heavy lift vessel, Blue Marlin, and has commenced its journey to Darwin. The rig is scheduled to arrive in Darwin on Tuesday, October 2, 2007. MEO expects to spud Heron-2 on or about October 6, 2007.


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## Wysiwyg

*Re: MEO - Methanol Australia*

I`m surprised no one has raised MEO for discussion (probably because it doesn`t get discussed  
	

		
			
		

		
	





	

		
			
		

		
	
).Surely the spudding of Heron 2 around the 11th. has set tongues wagging.The new drilling rig to do the job.Big projects hinging on proving up reserves.

Watch the company value rise when the hydrocarbons start flowing.


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## So_Cynical

*Re: MEO - Methanol Australia*

I had a look at it the other day...impressed
i was, but im 100% committed elsewhere. prob best to wait for 
the next "adjustment" in the market anyway.


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## Dutchy3

*Re: MEO - Methanol Australia*

Not really impressing at the mo is it. Getting a few reasonable bottom pattern that are not followed up with new short term higher closes ... have to keep watching


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## greenfs

*Re: MEO - Methanol Australia*

Make sure you have this on your watch list THIS month as I understand that quite a few holders expect some very positive announcement(s) real soon.

I am not yet a holder of this stock.


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## Wysiwyg

*Re: MEO - Methanol Australia*

Even with todays technology (FUGRO interpretation of seismic) nothing is guaranteed.Although the seismic shows what appears to be hydrocarbon accumulations there is no certainty to reserve quantity and the estimations are just that.

On the cusp of  a lucrative business venture or the demise of another hopeful?Looks like one of those screaming companies that in years to come you could say...`wish i had held them` or `should have bought more`..

Oh well, time and patience as usual.


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## moneymajix

*Re: MEO - Methanol Australia*

Substantial shareholder selling seems to be suppressing sp.

$1.12.

See ann. today.


From the announcement:

... the Company is embarking on activities that could confirm commercial gas
reserves in NT/P68 and lead to the initiation of the development of the proposed LNG and
methanol production projects.
The Company remains optimistic about its drilling activities and the subsequent development
of its significant gas processing projects. The Heron-2 well was spudded on October 12, 2007.


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## bigdog

*Re: MEO - Methanol Australia*

MEO   	1.13  	  +0.010   	  +0.89%   	high of	1.15  	 	528,391 shares 	$594,182 @ 	19-Oct 01:00:13 PM

Two ASX ANN today did do much for the SP!!!

*9/10/2007	Heron-2 Well Weekly Drilling Report	*
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00771721

HERON-2 WELL WEEKLY DRILLING REPORT
Key Points:
• Drilled 36 inch hole and 30 inch casing set to 108m
• Final rig commissioning, testing and minor repairs completed
• At 06.00 am commenced drilling the 26 inch hole

MELBOURNE, AUSTRALIA (October 19, 2007) -- MEO Australia Limited (ASX: MEO) submits this drilling report for the period ending 0900 hours, October 19, 2007. The Heron-2 well was spudded at 2230 hours (ACST) on October 12, 2007 in Exploration Permit, NT/P68.

As a new rig, MEO allowed for an approximate 5 day period for final rig commissioning, equipment testing and minor repairs to ensure all critical equipment was fully operational prior to drilling out of the 30 inch conductor. At 6 am this morning, the rig commenced drilling the 26 inch hole.

Petrofac Energy Developments Oceania Ltd (Petrofac Limited subsidiary) 10%
Heron-2 is being drilled by Seadrill’s West Atlas jack-up rig contracted to MEO for two firm wells and one option well.

The Heron-2 well is designed as a vertical well to penetrate and production test the Epenarra Darwin Formation and the deeper Elang/Plover Formation of the Heron North structure. The planned total depth of the well is approximately 4300m below sea level.

The Heron-1 well drilled by ARCO in 1972 intersected a 52m gas bearing column in the Darwin Formation (a fractured carbonate reservoir) within the 1,200 square km mapped closure of the large Epenarra structure. Heron-1 also reached a gas charged zone in the deeper underlying Elang/Plover horizon, which is a secondary objective for the Heron-2 well.
------------------------------------------------------------------------
*19/10/2007	Recent Trading in MEO Shares	*
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00771630

MELBOURNE, AUSTRALIA (October 19, 2007) -- MEO Australia Limited (ASX: MEO) advises the market that approximately 3.5 million shares in the Company have been sold by a substantial shareholder.

As soon as this trading was noticed, the Company contacted the seller offering to facilitate the sale of these shares. This offer of assistance was not accepted and all sales were made on market.

MEO is concerned that the manner of these sales may have had an impact on the share price at a time when the Company is embarking on activities that could confirm commercial gas reserves in NT/P68 and lead to the initiation of the development of the proposed LNG and methanol production projects.


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## moneymajix

*Re: MEO - Methanol Australia*

*FARMIN TO NORTHWEST SHELF PERMITS*

• MEO farms into three highly prospective Northwest Shelf exploration permits
• Permits immediately adjacent to Rankin, Goodwin and Perseus Gasfields
• Permits: WA-359-P, WA-360-P AND WA-361-P
• Large Zeus feature identified with similar high amplitude bright spots to the
reservoir sections of the adjacent Perseus Gasfield



Last price $1.10


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## Wysiwyg

*Re: MEO - Methanol Australia*



moneymajix said:


> *FARMIN TO NORTHWEST SHELF PERMITS*
> 
> • MEO farms into three highly prospective Northwest Shelf exploration permits
> • Permits immediately adjacent to Rankin, Goodwin and Perseus Gasfields
> • Permits: WA-359-P, WA-360-P AND WA-361-P
> • Large Zeus feature identified with similar high amplitude bright spots to the
> reservoir sections of the adjacent Perseus Gasfield
> 
> 
> 
> Last price $1.10




Juicy little snippet out today hey. As other posters and the share movement indicates, there is still time to play with MEO. Can I risk current share holder ire and hope for a dollar-ish each?


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## moneymajix

*Re: MEO - Methanol Australia*

Information from a post from another forum



> Tolhurst has just increased their vauation of MEO up 9c to $1.84...on the back of recent farmin with CUE....







Current share price is up slightly this morning to $1.09 which is some ways from $1.84c.

Nice bit of news for holders.


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## bigdog

*Re: MEO - Methanol Australia*

Todays Age news

http://www.theage.com.au/news/busin...n/2007/11/04/1194117878687.html?page=fullpage
MEO knows the drill, but it can't get to the bottom of Santos' sell-down

Barry Fitzgerald
November 5, 2007

GARIMPEIRO
Advertisement
MEO Australia
AS A former resources journo, Melbourne's John Joseph Byrne has solved more than a few mysteries in his time.

But the rationale for Santos to dump its shares in liquefied natural gas and methanol hopeful MEO Australia has got him stumped. Byrne's London-listed Cambrian owns 21 per cent of MEO.

MEO is now drilling the highly anticipated Heron-2 well in permit NT/P68 in the Australian waters of the Timor Sea, some 25 kilometres west of Tassie Shoal and 200 kilometres north-west of Darwin.

If the well comes in as MEO hopes, the Melbourne-based group will be on its way to becoming both an LNG producer and methanol producer. Good enough reason, you would have thought, for Santos to stick around with the 9.3 per cent stake it held back in May.

But no, Santos has been dribbling the shares out ahead of the main event, much to the chagrin of MEO, given the sales have knocked the stuffing out of its share price at a time when they'd normally been on the rise as the drill bit at Heron-2 chews away to its target zones.

"This well has the potential to do for MEO what the North-West Shelf did for Woodside 30 years ago," Byrne said last week. To his way of thinking, the stake Santos held in MEO would have given it the jump on the rest of the big boys should Heron-2 come up trumps.

"If I was a director of Santos I'd be on my knees every night praying that this well does not come in," Byrne said. That's because if it does, MEO shares will rocket from their current levels.

Now to be fair to Santos, Byrne's MEO has also been a seller of MEO shares ahead of the main event. But it is still holding on to a 21 per cent stake and its sale was a more managed affair in that it introduced institutional types to the MEO register. The MEO analyst at the broking firm Tolhurst, Irina McCreadie, penned a note on MEO last week that zeroed in on the Santos selling, saying it might have provided sustained selling pressure on MEO's shares.

"However, fundamentally we see no reasons for the weakness and suggest this is an opportunity to get exposure to this exciting ”” albeit a high risk ”” story," McCreadie said, after first-up declaring a beneficial ownership interest in MEO shares. Tolhurst has also raised money for MEO in the past.

In the research note, Tolhurst increased its "risked" valuation to $1.84 from $1.75 a share due to MEO's recent expansion of its horizons through its acquisition of some well-positioned exploration permits on the North-West Shelf.

The "un-risked" value of the Timor Sea LNG and methanol projects ran into "billions of dollars (net to MEO)", Tolhurst said.

"We believe that our current valuation strikes a fair balance between reflecting the potential upside and capturing significant risks remaining (including secure gas supply, further appraisal, funding development risks, among other things)," the broker said.

MEO shares traded at $1.13 on Friday. It's not known if Santos read the Tolhurst report. But Byrne did.


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## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today and another VG ANN expected end of this week!

20/11/2007  	 11:10   	Heron-2 Well

HERON-2 WELL   

MELBOURNE, AUSTRALIA (10 am, November 20, 2007) -- 

MEO Australia Limited (ASX: MEO) advises the market that the West Atlas rig is currently drilling the 12 ¼ inch hole in the Heron-2 well to a Target Depth of 3440m.  

MEO estimates that the 12 ¼ inch hole is expected to penetrate the prognosed gas bearing zones of the Epenarra Darwin Formation during Thursday, November 22, 2007.


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## moneymajix

*Re: MEO - Methanol Australia*

Big Dog

Two more sleeps.

Share price up 1c to $1.155.

Would be nice to see this in the Age movers later in the week.

Fingers crossed.


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## moneymajix

*Re: MEO - Methanol Australia*

Woowee,

Buying before news which is expected tomorrow.


$1.32c, 
UP 17%



Tolhurst target is closer to $2.


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## GreenTreeFrog

*Re: MEO - Methanol Australia*

I just picked up some of these at 1.235. I was advised to watch these a few weeks back... hopefully that tip was on the money!


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## RedHillAnt

*Re: MEO - Methanol Australia*

Well Done GTF - Lets hope your effort pays off. Have you got any more good tips for a spoilt little brat like myself?


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## moneymajix

*Re: MEO - Methanol Australia*

RedHillAnt

Their first tip might be MEO.

$1.24c. 

Hit $1.32 this morning.

I am wondering if we might see more buying this afternoon as results due tomorrow.



Anyone care to comment on the chart?


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## GreenTreeFrog

*Re: MEO - Methanol Australia*

RedHillAnt - a tip for you, anything I buy, you should sell. That will drives prices up for me and save you a fortune! 

And don't trip over those toes...


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## GreenTreeFrog

*Re: MEO - Methanol Australia*

I received some info that they are expecting MEO to go to between $3 and $5 very shortly.


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## moneymajix

*Re: MEO - Methanol Australia*

*HERON-2 WELL WEEKLY DRILLING REPORT – No 6*

Key Points:

• Well has penetrated upper half of the Epenarra Darwin Formation
• *Gas shows* observed in mud returns in upper Darwin Formation
• *Currently tripping out to change 12 ¼ inch bit*


http://www.asx.com.au/asxpdf/20071123/pdf/3160ft5k8dzw6d.pdf

Sp. $1.175


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## moneymajix

*Re: MEO - Methanol Australia*

Update from Tolhurst on the MEO website.

Close $1.175. Interesting late buying.


http://www.methanol.com.au/news/_news_single.asp?ID=286


We maintain our BUY recommendation on MEO for all time frames. We
expect that the logging data to be collected and analysed over the next
several days should be released to the markets within the next week or
so - we believe this data should allow coming to some very preliminary
conclusions as to the success (or otherwise) of the drill.


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## bigdog

*Re: MEO - Methanol Australia*

Thirteenth Annual General Meeting of members of MEO Australia Limited will be held in the Meeting Room of The Institute of Chartered Accountants in Australia, Level 3, 600 Bourke Street, Melbourne on Wednesday, 28 November 2007 at 10.30 am.

I assume that there will be an update on last weeks announcements prior to the AGM tomorrow!!!!
-- perhaps this morning!!

23/11/2007  	 10:29   	Heron 2 Well Weekly Drilling Report 6
20/11/2007 	11:10  	  	Heron-2 Well


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## moneymajix

*Re: MEO - Methanol Australia*

We have gas....


http://www.asx.com.au/asxpdf/20071127/pdf/3162mc65lmp9fn.pdf

The majority of samples targeted the Darwin Formation
facies C zone which was interpreted to be gas-bearing in Heron-1. Preliminary analysis of the
log suites acquired in Heron-2 also indicates Facies C to be gas bearing.



etc.


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## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today

SP currently:
MEO   	1.095  	  -0.080   	  -6.81%   	236,401 shares $261,666  @	27-Nov 12:01:22 PM and reflects news ANN

MEO  	12:08 PM  	Heron-2 Well Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00787764

*HERON-2 WELL UPDATE*
MELBOURNE, AUSTRALIA (10 am, November 27, 2007) -- MEO Australia Limited (ASX: MEO) advises the market that the West Atlas rig has successfully completed the running of three planned log suites from the section depth (3360m), through the Epenarra Darwin Formation to the 13⅜ inch casing shoe.

The rig has also recovered 18 rotary side-wall core samples for detailed petrophysical analysis. The cores samples were taken through the Darwin Formation and underlying source rock, the Echuca Shoals Formation. The majority of samples targeted the Darwin Formation facies C zone which was interpreted to be gas-bearing in Heron-1. Preliminary analysis of the log suites acquired in Heron-2 also indicates Facies C to be gas bearing.

The joint venture partners are carefully reviewing the new data prior to making a firm decision about flow testing this interpreted gas bearing zone. Until the hydrocarbons are recovered and analysed, MEO is unable to confirm gas quality or that a recoverable resource is present in Epenarra.

The rig is currently running the 9⅝ inch casing to the 3360m section depth. An 8½ inch hole will then be drilled to the Heron North Elang/Plover Formation.

Production testing of Epenarra can only be undertaken after the drilling (and if warranted flow testing) of the underlying Heron North structure.


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## coinemas

*Re: MEO - Methanol Australia*

comment from Tolhurst :

"We must emphasize that the presence of gas in Epenarra is considered certain. What remains
unknown is the size of the accumulation, the gas composition (including CO2 levels and wetness),
as well as the reservoir productivity parameters. "


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## Wysiwyg

*Re: MEO - Methanol Australia*



coinemas said:


> comment from Tolhurst :
> 
> "We must emphasize that the presence of gas in Epenarra is considered certain. What remains
> unknown is the size of the accumulation, the gas composition (including CO2 levels and wetness),
> as well as the reservoir productivity parameters. "




This may be so but the share price action indicates much uncertainty.Drill samples are being analysed from the first target so the results will be out soon.Tomorrow would be a good buy in day for mine


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## moneymajix

*Re: MEO - Methanol Australia*

$1.13c , up 13%


UPDATE

JOINT VENTURE DECISION TO PRODUCTION TEST EPENARRA DARWIN
RESERVOIR

http://www.asx.com.au/asxpdf/20071206/pdf/3169znhhkvzt8b.pdf



Confident of reservoir continuity

� gas saturation recorded over entire 50 metres (3109m � 3159m) of facies C;
� no carbon dioxide recorded by mud gas detection systems while drilling;
� initial mud log indications while drilling suggest wet gas;
� primary porosity in facies C ranging between 5% and 12%;
� four major open fracture sets interpreted from Sonic Scanner;
� multiple open secondary fractures noted in side-wall core samples;
� in the absence of a full diameter core, facies C fracture permeability is inferred in the multi-darcy range.
The results correlate closely to the Heron-1 well (2.7 km away)


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## moneymajix

*Re: MEO - Methanol Australia*

Moves

$1.29c , up 7.5% again after yesterday's ann.

If you bought 2 days ago at around 90c you would be very happy.


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## moneymajix

*Re: MEO - Methanol Australia*

Trading Halt this morning.

No trades today.


Effective until MEO makes its announcement or the ASX cancels the halt on Wendesday, Dec 12

http://www.asx.com.au/asxpdf/20071210/pdf/316czfrqvsqwyl.pdf


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## bigdog

*Re: MEO - Methanol Australia*

ASX ANN this morning

10/12/2007	Trading Halt
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00793436

"pending the release of an announcement by the Company"

There are a few members expecting an ANN!!


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## Trader Paul

*Re: MEO - Methanol Australia*



Hi folks,

MEO ... figured from our astroanalysis ... troubles should start shortly after 
11122007 ... with late-December 2007 and January 2008 looking quite nasty ... !~!

have a great day

  paul



=====


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## Wysiwyg

*Re: MEO - Methanol Australia*

Drilling report out late tonight at MEO
Looking more promising as drilling/logging continues with another drill yet to go on the schedule.


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## bigdog

*Re: MEO - Methanol Australia*

*ASX ANN late this evening*

10-12-2007 07:48 PM  *MEO  Gas bearing Heron North Elang/Plover Fm encountered  *
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00793844

MELBOURNE, AUSTRALIA (December 10, 2007) -- MEO Australia Limited (ASX: MEO) advises the market that the Heron-2 well has reached a depth of 3983m and is currently preparing to run logs ahead of setting a 7 inch liner.   

The well intersected the Elang Formation, at a depth of 3929m.  The Top Plover Formation is provisionally picked at 3948m.  Both of these sand units have indications they are gas charged in Heron-2.  Interpreted good quality medium grained Plover sand was encountered from 3973m to 3983m with mud losses of up to 60 bbls/hour, which is being considered as indicative of good reservoir permeability.     

The forward plan is to set the 7 inch liner to isolate the over-pressured Flamingo Formation. This will allow a slight reduction in mud weight to reduce the losses for the completion of drilling through the remainder of the Plover Formation that is interpreted to be gas charged.  This configuration also allows for the possibility of a barefoot production test of the Heron North Plover Formation subject to confirmation of reservoir parameters by further drilling and logging, and subject to Joint Venture approval. 

Preliminary drilling results of the Plover Formation penetrated to date include: 
• A wet gas fingerprint based on mud log C1 to C5 values; 
• Nominal (1000 – 1400 ppm) carbon dioxide (CO2) levels recorded by mud gas detection systems while drilling; 
• Plover sands are in-part weakly cemented and friable; 
• Elang and Plover Formations appear to be substantially (~35%) over-pressured relative to regional Plover sands. 

Independent calculation conducted by GeoMechanics International Inc. of the probable Heron Plover pore pressure based on regional Plover Formation pore pressure data appear to have been exceeded by approximately 35%.  3D seismic interpretation indicates that the Heron Plover structures are juxtaposed against a thick sequence of Flamingo Formation, which modelling suggests is currently generating wet gas.  Additional gas charge from the Flamingo could explain the elevated pore pressure in Heron North.  

Heron-2 encountered gas in the Elang/Plover Formations 237m up-dip of a known gas bearing interval in Heron-1.  Pre-drill interpretation of 3D seismic suggests the Heron North and Heron South structures are connected with a common observed flat event at 4260m, interpreted to be coincident with the structural spill point and possibly representing a gas-water-contact (GWC).  The combination of a wet gas fingerprint, presence of CO2 and the high pore pressure are considered strong evidence of a gas charged reservoir.    

MEO expects to commence drilling the 6 inch hole in the week commencing December 17, 2007.


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## bigdog

*Re: MEO - Methanol Australia*



bigdog said:


> 10-12-2007 07:48 PM  *MEO  Gas bearing Heron North Elang/Plover Fm encountered  *
> http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00793844




Did this announcement require a trading halt and why wasn't the announcement treated as market sensitive?


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## moneymajix

*Re: MEO - Methanol Australia*

BigDog

Must be more news to be released which is market sensitive.

Buyer at $1.58c currently. 

Let's hope it is good.


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## bigdog

*Re: MEO - Methanol Australia*

moneymajix

Company Trading Status is currently: "Pre-Open" with 	Indicative Price: 1.35

I agree with your statement "Must be more news to be released which is market sensitive"


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## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Hi folks,
> 
> MEO ... figured from our astroanalysis ... troubles should start shortly after
> 11122007 ... with late-December 2007 and January 2008 looking quite nasty ... !~!
> 
> have a great day
> 
> paul
> 
> 
> 
> =====







Hi folks,

MEO ..... raising funds, while there is a lot of positive news around: 

             Placement of 50 Million Shares @$1.25

Right on time ..... astrostuff wins again !~! 

happy days

  paul



=====


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## moneymajix

*Re: MEO - Methanol Australia*

Ann. 
Placement of 50 million shares at $1.25c 


So far so good, 
$1.42c, up over 10%


Let's see how it goes...


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## bigdog

*Re: MEO - Methanol Australia*

ASX ANN and I will post the link for ANN
MEO  	10:09 AM  	Placement of 50 Million Shares
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00794462

MEO Australia Limited (ASX: MEO) is pleased to advise that during the trading halt, a placement of 50 million shares at A$1.25 per share was made to Australian, United Kingdom and European institutional, professional and sophisticated investors raising A$62.5 million (before costs).  The placement was jointly managed by the Company’s Australian broker, Tolhurst Limited, and London broker, WH Ireland Limited.  The offer was conducted within the 15% placing capacity and was heavily over-subscribed.  

Previous fund raising activities provided the Company with sufficient capital to meet the dry hole costs of the two back-to-back appraisal wells in the current drilling campaign.   Funds raised will be applied to the following planned activities: 
• Initiation of LNG and methanol project studies including site selection to secure a casting basin site in SE Asia for the potential construction of the methanol plant and LNG tank substructures, pre-FEED, finalization of Basis of Design documentation and Capex reviews of the projects; 
• Production testing of the gas bearing zones in the wells (refer ASX Releases December 5, 2007 and December 10, 2007); 
• Acquisition of approximately 800 sq km of new 3D seismic to extend the existing 500 sq km 3D seismic coverage over the whole of the Epenarra and Heron structures in NT/P68.  Acquisition is planned for March 2008; 
• Acquisition of new 3D and 2D seismic in the recently acquired Northwest Shelf permits; 
• Contingency for drilling cost over-runs and general working capital. 

The rig is currently completing logging operations and is preparing to set the 7 inch liner to isolate the over-pressured Flamingo Formation.  MEO expects to commence drilling the 6 inch hole in the week commencing December 17, 2007.   

The Company remains in a strong financial position and looks forward to a successful outcome in the current drilling campaign, further development of the Tassie Shoal LNG and methanol projects, and exploration of the Northwest Shelf permits.


----------



## AussiePaul72

*Re: MEO - Methanol Australia*

G'day MEO-ers,

I've been watching this one for quite a while now after a tip from a mate. At that stage it was when it first hit the 80c mark. Its been on my watch list ever since but have never actually jumped on board until TODAY at $1.38!! 

I've heard second hand that some brokers evaluation of this stock are anywhere from $6-$7 up to around $14. I have no firm information on this so take it with a grain of salt if you will and importantly DYOR. Anyway, hopefully things are about to really fire up. I was a bit surprised that the SP didn't run today more than it did. I realise its still speculation but signs from drilling are promising? Am I right? 

It was a down day on the market but was anyone else surprised that it didn't run up more? What do other investors and watchers think?

Good luck to all


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Hi folks,
> 
> MEO ... figured from our astroanalysis ... troubles should start shortly after
> 11122007 ... with late-December 2007 and January 2008 looking quite nasty ... !~!
> 
> have a great day
> 
> paul
> 
> 
> =====






Hi folks,

MEO ..... despite the current hype, still figuring on some negative time
cycles coming into play, soon:

     24-31122007 ..... negative news, brings negative spotlight  to MEO

     04-07012008 ..... minor

     11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???

     26-30012008 ..... 2 negative cycles ... finance-related ... ???

     22-26022008 ..... positive aspect to bring first signs of recovery ... 

happy days

  paul



=====


----------



## bigdog

*Re: MEO - Methanol Australia*

Todays Australian

http://www.theaustralian.news.com.au/story/0,25197,22915043-643,00.html

*MEO flexes muscles in Timor Sea*
Nigel Wilson, Energy writer | December 13, 2007

WHAT was once a try-hard is now a minnow with muscles.

MEO Australia has raised $62.5 million in a placement of 50million shares at $1.25 each to institutional, professional and sophisticated investors in Australia, Britain and Europe to help define its planned LNG and methanol projects in the eastern Timor Sea.

MEO, formerly Methanol Australia, has for several years been promoting the Evans Shoal discovery north of Darwin as a possible supplier to an onsite methanol plant because of the gas's high carbon dioxide content.

Recent discoveries of wet gas with lower CO2 content has led to an investigation of whether the resource around Evans Shoal can also support an export LNG plant.

MEO's managing director, Chris Hart, yesterday said the funds raised in the placement would be used to initiate studies of LNG and methanol projects, including site selection, to secure a casting basin in Southeast Asia for the potential construction of the methanol plant and LNG tank substructures, pre-front end engineering and design and finalisation of the Basis of Design documentation, as well as Capex reviews of both projects.

Some of the new funds will also be applied to production-testing the gas-bearing zones found in the Epenarra and Heron-2 wells. In recent weeks, MEO shares have been actively traded, with one-time foundation shareholder Santos selling out.

MEO shares yesterday closed 3 per cent higher at $1.33 with more than 19 million shares changing hands, or about 6 per cent of the issued capital.


----------



## AussiePaul72

*Re: MEO - Methanol Australia*



Trader Paul said:


> Hi folks,
> 
> MEO ..... despite the current hype, still figuring on some negative time
> cycles coming into play, soon:
> 
> 24-31122007 ..... negative news, brings negative spotlight  to MEO
> 
> 04-07012008 ..... minor
> 
> 11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???
> 
> 26-30012008 ..... 2 negative cycles ... finance-related ... ???
> 
> 22-26022008 ..... positive aspect to bring first signs of recovery ...
> 
> happy days
> 
> paul
> 
> 
> 
> =====




Trader Paul, where do you get your information from on these cycles and also explanations for the cycles?


----------



## bigdog

*Re: MEO - Methanol Australia*

The share price today is looking great currently +$0.07   	  +5.07%

 MEO   	$1.45  	   	  +$0.07   	  +5.07%   	 high of 	 $1.45  	  low of $1.35  	 2,278,453 shares 	 $3,207,870  @	 14-Dec 12:25:20

The  All Ordinaries: 6,599.5 is down 61.6 points


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN before close today and market seem to like ANN!

 MEO   	 $1.36  	   	  +$0.065   	  +5.02%   	high of  $1.36  and low of 	 $1.23  	 888,765 shares  	 $1,144,724  	 28-Dec 16:10:06

 28-12-2007 03:03 PM  	 MEO  	  Decsion To Production Test Heron North Plover Reservoir
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00799741

DECISION TO PRODUCTION TEST HERON NORTH PLOVER RESERVOIR

MELBOURNE, AUSTRALIA (December 28, 2007) -- MEO Australia Limited (ASX: MEO) advises the market that the Company has today approved production testing of the gas charged zones of the Heron North Elang/Plover formation reservoir in the Heron-2 well.  

The participants in the Heron-2 well are: 
TSP Arafura Petroleum Pty Ltd (MEO subsidiary) 45% 
Oz-Exoil Pty Ltd (MEO subsidiary) 45% 
Petrofac Energy Developments Oceania Ltd (Petrofac Limited subsidiary) 10%  

Higher bottom hole temperatures did not allow logging while drilling through the Elang/Plover formation.  At a drilled depth of 4182m, the drill string was pulled from the borehole and a separate high temperature logging suite was acquired through the Elang/Plover formation.  Preliminary petrophysical analysis has confirmed that 202m of Plover formation gross section has been drilled to date with approximately 164m of gross sandstone.     

Initial results of the drilling and logging in the Plover formation indicate: 
• Upper Plover formation sandstone unit observed from 3980m to 4081m;  
• Middle Plover formation appearing to be a siltstone unit: 4081m – 4119m; 
• Lower Plover formation sandstone unit observed from 4119m to 4182m (current TD of well); 
• Gross Plover formation sandstone interval of 164m; 
• Based on preliminary log interpretation, these sandstones appear to be gas charged;  
• Initial mud log indications while drilling suggest wet gas; 
• No carbon dioxide was recorded by mud gas detection systems while drilling; • Primary porosity generally ranging between 5% and 10%; 
• A number of prominent fracture systems appear to be present in the sandstone units (corresponding to lost circulation zones), which would be expected to enhance permeability and produce-ability of any gas. 

While the prognosed gas-water-contact (GWC) and mapped structural spill point (4260m) has not yet been reached in Heron-2, the Company is conducting a barefoot production test of the Plover formation to determine indicative gas quality and reservoir productivity, thereby confirming that a recoverable resource is present.  Testing of this zone is expected to be undertaken in the week commencing December 31, 2007.


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Hi folks,

Did you notice that the UP-VOLUME was quite light, 
at only 888,000 on Firday ... that means, not everybody
is convinced about the MEO story, right now.

..... and what the company actually announced:

"Based on preliminary log interpretation, these sandstones
APPEAR to be gas charged"

... they are only TESTING for what APPEARS to be gas-charged
formations ... yes??

Now, some traders were blinded to the facts in December,
when MEO went to 1.45 then crashed to 1.13 soon after
(just as was forecast in this thread) ... well, that
volatility is about to repeat itself, in January ...

Note well: ... 28-31122007 cycle comes into play over the weekend
and often we see a high posted, immediately before the negative cycle
falls into place ... so, as previously forecast:

... it does not matter how much the skeptix rubbish us,
the God-given natural time cycles will prevail ... !~!

As forecast above, expect MORE downside in MEO:


28-31122007 ... negative spotlight on MEO ... 

11-18012008 ... 2 bigtime negative cycles here.

25-28012008 ... minor

29-30012008 ... negative ... finance-related ???

25-26022008 ... positive light on MEO and
first signs of recovery ???

happy days

paul



=====


----------



## AussiePaul72

*Re: MEO - Methanol Australia*

A very good day for MEO today ..... breaking new highs to close at $1.60. Today it was up 8.8% on a very strong rally leading up to close of trading with no news released yet. Might not be too far away though! 
Could be an interesting day tomorrow with a very big order of 200,000 sitting at $1.56 at present and sellers starting at $1.63.
Good luck to all holders


----------



## Wysiwyg

*Re: MEO - Methanol Australia*



AussiePaul72 said:


> Trader Paul, where do you get your information from on these cycles and also explanations for the cycles?





A P .. I was under the impression you both were uhh, close.

Trader Paul = yogi in oz = Aussie Paul  

Now I could be  completely wrong but regardless, those prophecies are completely inaccurate, obscure and a trap for young players.But hey, one only needs to remain uhhh positive no i mean negative to fully understand the "prophecies".


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Wysiwyg said:


> Now I could be completely wrong but regardless, those prophecies are completely inaccurate, obscure and a trap for young players.But hey, one only needs to remain uhhh positive no i mean negative to fully understand the "prophecies".






Hi Wysiwyg,

..... if you chose to rely on only ONE tool in the traders toolbox for trading,
then that would be plain dumb ... but, using time cycles as a CONFIRMATION
tool of our regular TA gives us another view of any market, INDEPENDENT
of PRICE data !~!

happy days

 paul

P.S. ... so, let's see how the MEO cycles posted above, unfold in January 2008.



=====


----------



## AussiePaul72

*Re: MEO - Methanol Australia*



Wysiwyg said:


> A P .. I was under the impression you both were uhh, close.
> 
> Trader Paul = yogi in oz = Aussie Paul
> 
> Now I could be  completely wrong but regardless, those prophecies are completely inaccurate, obscure and a trap for young players.But hey, one only needs to remain uhhh positive no i mean negative to fully understand the "prophecies".




Hey Wysiwyg! Just remember this is a forum and everybody is entitled to their views and ways of trading. I am very intrigued with how others trade and methods used. I don't always agree with them, but i do have an open mind and i have been proven wrong many times before!! Trader Paul is game man in my mind (laughing) putting his predictions on here .... but give the guy a break and at least watch what happens with his predictions before questioning him .... i too am watching with intrigue!!!!


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today for TRADING HALT

Here's hoping for VG news ANN!

SP and the volume has been improving over past week!
Date.......  	 Close   	Volume  
03-Jan-08	 1.59 	2,676,362
02-Jan-08	 1.60 	2,549,507
31-Dec-07	 1.47 	1,973,842
28-Dec-07	 1.36 	888,765
27-Dec-07	 1.30 	1,260,225
24-Dec-07	 1.24 	255,243


 04-01-2008 09:29 AM  	 MEO  	  Trading Halt Request
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00800570

REQUEST FOR TRADING HALT  
FRIDAY, 10.00 AM, 4 JANUARY 2008    

The Company requests a trading halt in the Company’s securities pending a market announcement.  Reinstatement of trading is requested at 10.00 am on Tuesday, January 8, 2008, prior to which the Company proposes to lodge the market announcement.  The Company is not aware of any reason why the trading halt should not be granted.


----------



## doogle

*Re: MEO - Methanol Australia*

First Post. Could MEO be a takeover target at this early stage? I mean aren't its exploration rights and current holdings desirable to the big boys?


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today 
04-01-2008 03:13 PM  	 MEO  	  Heron-2 Well Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00800709

ASX RELEASE   
HERON-2 WELL UPDATE    

MELBOURNE, AUSTRALIA (January 4, 2008) -- MEO Australia Limited (ASX: MEO) advises the market that the Heron-2 well has commenced flowing from the gas charged zone of the Heron North Elang/Plover formation.  The well flowed gas to surface and is currently undergoing a prolonged clean-up period to clear the drilling fluids from the wellbore and formation.  

While drilling the formation, the well experienced significant losses of synthetic based mud (1180 bbls).  The formation in proximity to the wellbore was further impaired by the subsequent LCM (loss circulation material) treatment, which effectively inhibited much of the formation’s permeability.  The clean-up is required to sample gas and obtain gas flow data in order to make the best estimate of reservoir potential given the possible impact to the formation from the drilling fluids.  

The well was shut-in today at approximately 2.30 pm (EST) as the tropical low pressure system located in the Joseph Bonaparte Gulf formed into a category 1 cyclone (Cyclone Helen).  The cyclone is within the 500 km radius of the rig, which necessitates the mandatory securing of the rig prior to de-manning.    

The cyclone is forecast to move eastward over the weekend across the Northern Territory south of Darwin and is expected to weaken to a tropical low.  The rig will re-commence operations upon this reclassification and proceed with the production testing of Heron North.        

MEO Australia has entered into a trading halt commencing 10 am today due to these uncertainties.  A detailed release will be made before trading recommences at 10 am on January 8, 2008 to allow a more extensive disclosure of the Heron-2 well activities.


----------



## shaunm

*Re: MEO - Methanol Australia*

Hi 
Can someone give me a quick lesson on how these gas company reports are to read.
When it says "significant losses of drilling fluids" or the like, is that a good thing? Loss for me means bad but when I see releases that mention this there seems to be increased buying.
Thanks


----------



## mailman

*Re: MEO - Methanol Australia*

This is interesting.

I suspect that the trading holt was due to the workers on the rig would be saying that the results were good and a holts would have made sure they market was not influenced.

My tip MEO up 15% next week.

Mailman


----------



## Trader Paul

*Re: MEO - Methanol Australia*





yogi-in-oz said:


> Hi folks,
> 
> MEO ... so, let's see what happens in January 2008:
> 
> Traders betting on the outcome of current testing, MEO price at
> a double-top and the time cycles looking negative ... let's see
> how it all unfolds  ...
> 
> 11-18012008 ... 2 bigtime negative cycles here.
> 
> 25-28012008 ... minor
> 
> 29-30012008 ... negative ... finance-related ???
> 
> 25-26022008 ... positive light on MEO and
> first signs of recovery ???
> 
> happy new year
> 
> paul
> 
> =====






Hi folks,

MEO ..... sure is quiet on this thread, now ... 

..... could it be, that those that were long last week are too busy with their 
sell orders, now that panic has set in, since the announcement ... ???

Sellers lined up, as market gapped down to 118, at open ... !~!

Now, could that be a gap down of more than 40 cents from the close, 
at the trading halt ... ???

..... let's see how low this will go next week, when the time cycles
posted above come out to play.

Astrostuff wins, again ... !~!

happy days

 paul



=====


----------



## moneymajix

*Re: MEO - Methanol Australia*

In recent weeks the stock has traded from approximately 90c to $1.62.

This has provided a number of opportunities to make money for astute traders.

Currently not holding.

cheers
$M


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Hi $M,

MEO ... but for those who were gambling on the test results and still long
at the trading halt, it must have hurt to see it gap-down some 25% ... !~!

... and looks like, that's where it may close the session, as well.

Looking ahead, it will only take 3 words, like "plug and abandoned", then 
the panic selling will start, again ..... 

have a great day

  paul



=====


----------



## mailman

*Re: MEO - Methanol Australia*

Hi All,

It hurt so bad that I doubled up and bought 10k more at 1.18.

It must be some gas there or maybe not????


----------



## Jack_Junior

*Re: MEO - Methanol Australia*



Trader Paul said:


> Hi $M,
> 
> MEO ... but for those who were gambling on the test results and still long
> at the trading halt, it must have hurt to see it gap-down some 25% ... !~!
> 
> ... and looks like, that's where it may close the session, as well.
> 
> Looking ahead, it will only take 3 words, like "plug and abandoned", then
> the panic selling will start, again .....
> 
> have a great day
> 
> paul
> 
> 
> 
> =====




Trader Paul....

I do not hold MEO but did toy with the idea at .96c and after reading your posts can't help but ask the following question...

Do you get off on watching people lose money just so you can say "I told ya so" ?

If so maybe you need to change your approach, or maybe just your tone to the whole price fall earlier today.
I sat and watched as someone I know lost nearly $50k in profits in less than a minute today and was ready to end it all....

Please, on behalf of everyone here, I doubt that you need to rub it in people's faces for kicks !

Some things are better off unsaid Paul  

JR


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Jack_Junior said:


> Trader Paul....
> 
> I do not hold MEO but did toy with the idea at .96c and after reading your posts can't help but ask the following question...
> 
> Do you get off on watching people lose money just so you can say "I told ya so" ?
> 
> If so maybe you need to change your approach, or maybe just your tone to the whole price fall earlier today.
> I sat and watched as someone I know lost nearly $50k in profits in less than a minute today and was ready to end it all....
> 
> Please, on behalf of everyone here, I doubt that you need to rub it in people's faces for kicks !
> 
> Some things are better off unsaid Paul
> 
> JR






... get over it, Jack.

Winning and losing in the markets (and discussion about same) 
is what these forums are all about ..... 

Markets have no friends and falling in love with ANY market
(or the story behind it) can be VERY PAINFUL financially,
especially if we ignore the warning signs .....

..... and the warning signs WERE there for MEO, so any long
position before the trading halt was straight out GAMBLING,
on the results of the well tests ... and gambling on test results,
does not always pay off ... it's that simple, Jack !~!

If they go into such trades, then they should be well aware of the 
risks ... something known to some traders, as risk management and
it is part of their trading plan, in EVERY trade.

have a great day

  paul



=====


----------



## AussiePaul72

*Re: MEO - Methanol Australia*

G'day All,
How bout we calm down a little on this thread, things seem to be getting a little heated. Nobody in their right mind gets pleasure out of seeing other people lose money and i'm sure nobody here thinks that way.
Trader Paul did warn others on here about his thoughts and methodology about the short term future of MEO. Well picked on this one Paul .... i know every methodology is not 100% accurate but it worked this time. However, I went on my own instinct this time.
I was one that got stung a bit today .... didn't have a huge amount invested ... but was hoping they would strike something good! I wouldn't by any means call MEO a write-off as they still have a lot of potential. I just thought it safe to pull out at $1.20 today and take a small loss until the dust settles.
Good luck to all in the future


----------



## mailman

*Re: MEO - Methanol Australia*

Guys its all good!

http://www.energycurrent.com/index.php?id=2&storyid=7947 

http://www.tradingmarkets.com/.site/news/Stock News/964532/

Mailman


----------



## sam76

*Re: MEO - Methanol Australia*



Jack_Junior said:


> Trader Paul....
> 
> I do not hold MEO but did toy with the idea at .96c and after reading your posts can't help but ask the following question...
> 
> Do you get off on watching people lose money just so you can say "I told ya so" ?
> 
> If so maybe you need to change your approach, or maybe just your tone to the whole price fall earlier today.
> I sat and watched as someone I know lost nearly $50k in profits in less than a minute today and was ready to end it all....
> 
> Please, on behalf of everyone here, I doubt that you need to rub it in people's faces for kicks !
> 
> Some things are better off unsaid Paul
> 
> JR




a lot of people attack Paul and his astro analysis, but it's like with everything you win some and you loose some. Add money and the stock market to the mixture and you have all the ingredients of a fireball. Agreed, no one wants to see people loose money but sometimes peopole want to celebrate their wins.  remembering, where there are winners there are also losers...

hmmm.... i'm confusing myself now....


----------



## Jack_Junior

*Re: MEO - Methanol Australia*

There are no winners when people laugh at others misfortune....only losers !!

I'd be interested to know what stock you hold Paul.... so I can curse them, watch them slide all the way to insolvency and then sit back and poke you with a stick while reminding you of your misfortune!

Happy "Punting"

JJ


----------



## bigdog

*Re: MEO - Methanol Australia*

http://www.theaustralian.news.com.au/story/0,25197,23025266-643,00.html

*MEO deflates on test problems*
Nigel Wilson, Energy writer | January 09, 2008

SHARES in gas production hopeful MEO Australian slumped yesterday after it reported difficulties with testing a new gas find with its Heron-2 well in the Timor Sea.

The market reacted badly after MEO Australia's shares resumed from a trading halt, dropping 39.5c to $1.25.

In a statement to the exchange, the company said a blockage had been encountered at the base of the Elang formation that was now believed to have halted gas in the Plover formation flowing to the surface.

Testing would continue after a sidetrack well was drilled around the blockage.

MEO said only a 15m section of the Elang sand was believed to have flowed dry gas containing a high carbon dioxide content to the surface.

"The preliminary maximum flow rate through a 26/64 inch choke in this poor-quality Elang sand was estimated at 6 million cubic feet a day," the statement said.

It added that mud gas logs through the 164m intersection in better-quality Plover formation sands appeared to be wet gas without carbon dioxide.

Technical problems affected drilling in the Plover formation, which led to the belief only the Elang sand had contributed to the gas flow to the surface.

The Heron-2 well was shut on Friday because of cyclonic activity.

MEO Australia managing director Chris Hart said yesterday the company remained optimistic that a "significant, quality hydrocarbon resource" was present in the Plover formation.

Based on regional geological correlations and 3-D seismic interpretations, further good-quality gas-saturated sands remained to be drilled below the current total depth of 4182m at the Heron-2 location.

In December, MEO Australia raised $62.5 million in a placement of 50 million shares at $1.25 each in Australia, Britain and Europe to help define its planned LNG and methanol projects in the eastern Timor Sea.

MEO, formerly Methanol Australia, has for several years been promoting the Evans Shoal discovery north of Darwin as a possible supplier to an onsite methanol plant because of the gas's high carbon dioxide content.


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today

The market did not like the ANN
 MEO   	$0.795  	   	  -$0.365   	  -31.47% high of  	 $1.16  	and low of  $0.70  	 8,590,838 shares  	 $7,154,064  @	 15-Jan 13:02:41

15/01/2008	Heron-2 Well Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00802948

ASX AND MEDIA RELEASE
HERON-2 WELL UPDATE  
Key Points: 
• Epenarra Darwin production test brought forward to later this week 
• Drilled 6 inch hole into Elang shale unit at 3967m and encountered formation instability 
• Unstable shale unit leads to prudent decision not to continue re-drilling the       Plover formation in Heron-2   

MELBOURNE, AUSTRALIA (January 15, 2008) -- MEO Australia Limited (ASX: MEO) advises the market that the joint venture partners have decided to cease the current re-drilling of the Plover formation and bring forward the production testing of the Epenarra Darwin formation in the Heron-2 well to later this week.   Importantly, this is due to technical issues encountered with the sidetracking of the well and not because of a changed view of the potential of the Heron North Plover sands, which would be revisited with a separate well.


----------



## mailman

*Re: MEO - Methanol Australia*

Maybe MEO shouldnt make any more announcements.
Everytime thaey make one it goes down over 20% in the last few weeks.

I am buying and rolling the dice

I understand that Macquarie has turned it into a BUY - anyone at Macquarie?

Mailman


----------



## doogle

*Re: MEO - Methanol Australia*

Anyone reading the latest report (15/01/2008 Heron-2 Well Update) can see it 'aint good. But I am holding in. There are still more options here. They do not say if they will return to the Plover later after Darwin?? It can't be that dead can it?


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Posed 12 December 2007:
> 
> Hi folks,
> 
> MEO ..... despite the current hype, still figuring on some negative time
> cycles coming into play, soon:
> 
> 24-31122007 ..... negative news, brings negative spotlight  to MEO
> 
> 04-07012008 ..... minor
> 
> 11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???
> 
> 26-30012008 ..... 2 negative cycles ... finance-related ... ???
> 
> 22-26022008 ..... positive aspect to bring first signs of recovery ...
> 
> happy days
> 
> paul
> 
> 
> 
> =====






Hi folks,

As posted above, "a BIIIG downmove" for MEO comes in,
right on time ..... 

..... volume up and trading as low as 70 cents today, as panic takes hold.

Let's see how long it bounces along the bottom, now.

have a great day

  paul



=====


----------



## mailman

*Re: MEO - Methanol Australia*

Please help me!

I need to see some gas at the end of the tunnel.

When is MEO on the up!

Please help ohhh wise one.


----------



## mailman

*Re: MEO - Methanol Australia*

EPENARRA/DARWIN

We know:

* Analysis of the 1972 Heron-1 core samples by the CSIRO indicated the presence of low CO2 gas and oil condensate.
* This was backed up by the drilling data from Heron-2, which confirmed a 50m gas saturated column wet with hyrocarbons and no CO2.
* The formation is c.1,200-1,400kmsq.

We don�t know:

* How the Epenarra will flow in the imminent test. It�s one thing to have the gas there but if you can�t get it out it�s not worth much.

What gives us cause to be optimistic:

* The Heron-2 drilling data shows that the well went through four major fracture sets (being a �fractured carbonate�, the fractures in the rock are the means by which the gas trapped in the rock escapes) which increases the likelihood of getting some gas.
* The data also shows the primary porosity of the rock is relatively high at 5-12% (anything over 10% can be considered pretty good).
* The premeability appears to be in the multi-darcy range (I understand there are some gas fields that produce at less than one darcy).

What to expect:

* I expect the flow test should report early next week. Flow rates won�t be high because of the fractured nature of the rock, but the focus is on the quality of the gas and the amount of condensate. With horizontal drilling production levels could be 10-15 times higher than the flow test levels.



ELANG/PLOVER

We know:

* The Elang sands flowed and showed no oil condensate and high CO2. This was exactly as expected from (a) the experience of the Heron-1 well, and (b) the mud logs from Heron-2.
* There is 19m of shale under the Elang sands � this was a surprise and there was no way of knowing it was there.
* The Plover sands beneath are showing gas with no CO2 and wet with hydrocarbons. This is far, far better than had been expected.
* The Plover gas column is currently 164m and there is at least 80m to go to the expected gas/water contact point and has a closure of about 400kmsq.
* The Plover siltstone is believed to be the source of condensate-rich gas to other fields nearby, eg Woodside�s Sunrise field.

We don�t know:

* How well the Plover gas will flow. The first well got clogged with drilling fluids because of the unexpectedly high permeability of the sands.. The sidetrack had to be stopped because the drill bit got stuck when the surrounding Elang shale rock collapsed.

What gives us cause to be optimistic:

* The Elang sands mud logs were spot on; if the Plover logs are similarly accurate then it is a highly valuable resource.
* The good porosity and permeability of the sands suggests gas should readily flow.
* Given the poorer quality Elang sands actually flowed at ~6mcfpd you�d expect the better quality Plover sands to flow at a significantly higher rate.
* The data gathered means a future appraisal well for the Plover can be accurately planned and designed to avoid both the mud weight and collapsing shale problems.

What to expect:

* It will take a few months to analyse the drilling data. I suspect MEO will include a Plover appraisal well in the planned Septmeber drilling programme and it will cost less than Heron-2.


----------



## surfingman

*Re: MEO - Methanol Australia*

Currently down 69% @ .25 with poor news on the heron 2 well, will be an interesting day for MEO. Sadly a very bad time to release bad news.


----------



## Gundini

*Re: MEO - Methanol Australia*



mailman said:


> Hi All,
> 
> It hurt so bad that I doubled up and bought 10k more at 1.18.
> 
> It must be some gas there or maybe not????




I feel for those riding this one:

Last 0.190 -0.635 -76.970 % 

Takeover target? If they wait a little longer, they will get MEO for free


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Posted ... 13 December 2007:
> 
> Hi folks,
> 
> MEO ..... despite the current hype, still figuring on some negative time
> cycles coming into play, soon:
> 
> 24-31122007 ..... negative news, brings negative spotlight  to MEO
> 
> 04-07012008 ..... minor
> 
> 11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???
> 
> 25-28012008 ... minor
> 
> 29-30012008 ..... 2 negative cycles ... finance-related ... ???
> 
> 22-26022008 ..... positive aspect to bring first signs of recovery ...
> 
> happy days
> 
> paul
> 
> =====






Hi folks,

MEO ... so, now the truth is apparent and the panic is on, where is
a good entry ..... ???

MEO price, down to 17.5 cents today ... and we would like to see it
trade down about 90% from its 1.60 high, at around 16 cents ... that
seems to be an obvious place for an ambush, by cashed-up traders.

As per time cycles above, there's probably no real hurry to get
set in MEO, anyway ... more conservative traders may choose to
wait for a confirmed low, between now and 22-26022008 ..... 

have a great day

  paul



=====


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Hey Paul,

I don't know about 16c, but then anythings possible,

For fun I ran my ruler over MEO, heres what I found

Shares = *385m* approx

*Cash as at last qtrly *= $69m + $8m yet to be recieved from SPP (only $10m of $18 was recieved) + $62m placement (done at $1.25) = *$139m*

Now in the qtrly the company estimated cash outflows of $40m

But that would still leave *$100m cash in bank*

385m shares = *Cash Backing of 26c*

I could be wrong but may have a bounce above this level tomorrow or soon


----------



## sam76

*Re: MEO - Methanol Australia*



YOUNG_TRADER said:


> Hey Paul,
> 
> I don't know about 16c, but then anythings possible,
> 
> For fun I ran my ruler over MEO, heres what I found
> 
> Shares = *385m* approx
> 
> *Cash as at last qtrly *= $69m + $8m yet to be recieved from SPP (only $10m of $18 was recieved) + $62m placement (done at $1.25) = *$139m*
> 
> Now in the qtrly the company estimated cash outflows of $40m
> 
> But that would still leave *$100m cash in bank*
> 
> 385m shares = *Cash Backing of 26c*
> 
> I could be wrong but may have a bounce above this level tomorrow or soon




Pinched from HC....

found this on another forum - suggests cash backing is 23.5c a share. 

anyone care to check their numbers? sounds about right?


::quote::

Had a quick look at cash. 
30/9 $68.899m 
Sept qtr operating outflow was $10.619 - assume similar for Dec 
1m oppies converted at 50c = $0.5m in 
Placement $62.5m Assume costs 3% 
so 31/12 est $119.405m 

Per placement presentation - expenditure for March qtr est to be $35.9m, but that inlcuded $5.8m production testing Plover which now won't happen. So, est $30.1m expenditure this qtr. 

Average funds on deposit for March qtr say $104m at 6% = $1.56m interest. 

Est funds 31/3 = $90.865m 

FPO per last 3B = 385,931,570 

Est cash per share at 31/3 = 23.54c/sh


and....

lets put things into perspective. 

Its cash backing is a min of 16 cents. 

the targets they have which are in the TCFs range as surey worth more than 3.5 cents. 

They also have 90% ownership so a farm down is very easy. 

will be going up form these levels no doubt. I think low 30s is more than reasonable


----------



## surfingman

*Re: MEO - Methanol Australia*

Without a double checking of figures, YT compared to a HotCopper post I would be willing to put a carton on YT (no offense meant sam). Cascade Premium thanks. 

Was undecided whether to get aboard today but was reluctant until I see the week pan out a little more and possibly wait for a confirmation of the next drilling dates.


----------



## rub92me

*Re: MEO - Methanol Australia*

I don't normally buy falling knives, but made an exception today with MEO. Thinking along the same lines as sam and youngtrader. All the bad news is out of the way and an extremely comfortable cash position. I think we'll see at least one decent bounce over the next couple of days once the panic selling stops and reality sinks in. Those 'sophisticated' investors won't be too happy though, so we might see some fall out from that.


----------



## sam76

*Re: MEO - Methanol Australia*



surfingman said:


> Without a double checking of figures, YT compared to a HotCopper post I would be willing to put a carton on YT (no offense meant sam). Cascade Premium thanks.
> 
> Was undecided whether to get aboard today but was reluctant until I see the week pan out a little more and possibly wait for a confirmation of the next drilling dates.





None taken there Mr. Surfingman 

(I'm sure you could come with a better tasting beer as well)

lol


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Hi Sam

I'm happy to use the lower 23.5c cash per share backing,

So unless the projects have a negative value, hard to imagine given the exploration potential they hold then, then it seems the selling may have been overdone,

Then again in these mkts who knows, still was interesting to run the ruler over


----------



## sam76

*Re: MEO - Methanol Australia*

sorry mate, was just trying to coroborate your analysis.

I'll make sure to reread my posts before hitting that enter button! 

Tolhurst report from this morning......

MEO shares sold off into the mid 20-cent range this morning. We are now back to where we were 18month ago in terms of the share price. However the company has made a massive progress operationally over the same time. Exploration, appraisal � and at times even production drilling are high risk, expensive activities and our High Risk rating is a reflection of that.

That Epenarra failed to flow gas to surface does not mean that the structure will not flow when tested under optimal conditions. That Plover test could not take place at this location does not mean there is no gas in Plover nor that it would not flow. While clearly disappointing � and the share price action very much reflects the disappointment, we suggest that in valuing MEO at under $100m - as current price suggests � the investors are acting emotionally rather than rationally. The company has circa $60m in cash (or about $0.16 a share), with a rig slot and a partner (Petrofac) in place to continue the appraisal drilling. We remind the investors that the Epenarra structure has in excess of 1000 sq km aerial closure � given this size one single well can not answer all the questions. 

In face of such a dramatic price collapse, we can only reiterate the facts and the facts are that the company is sitting on two approved gas-to-liquids projects, and on a significant potential resource. It has funding in place for the next appraisal well. While the latest results do not negate the potential of the gas resource, they clearly add time before the resource is confirmed and clearly the company will need to seek more funds for additional drilling (beyond the next well).


----------



## doogle

*Re: MEO - Methanol Australia*



sam76 said:


> sorry mate, was just trying to coroborate your analysis.
> 
> I'll make sure to reread my posts before hitting that enter button!
> 
> Tolhurst report from this morning......




Kinda makes me feel better, lets hope they are right, thanks for posting that. (Damn this 100 character minimum).


----------



## mailman

*Re: MEO - Methanol Australia*

Today is going to be an interesting day. DAX down 7% ohhhhhhhhh
September 11 falls- so I will say 16cents will be hit on the meo's today


----------



## rub92me

*Re: MEO - Methanol Australia*



mailman said:


> Today is going to be an interesting day. DAX down 7% ohhhhhhhhh
> September 11 falls- so I will say 16cents will be hit on the meo's today



We'll see, but I don't think so. Current market depth doesn't suggest an early sell-off on MEO from these levels. It could dip below 20 cents for a while but expecting this to come back and hold around 20 cents or even up today. My stop is set at 17 cents just in case though


----------



## rub92me

*Re: MEO - Methanol Australia*

Got very close to the 16 cents. I pulled my stop at 17 cents. Only have 10,000 shares so it won't break the bank : How oversold can it get?


----------



## juw177

*Re: MEO - Methanol Australia*

I see a lot of buyers absorbing the sellers at 17-18c today, (and at 18-19c yesterday).

Lets see which side runs out of steam first. The market conditions dont really help the buyers though.


----------



## moneymajix

*Re: MEO - Methanol Australia*

No chat about a stock that goes up over 50 percent  ??????????????


24.5c, 250 0.085
*51.515%* 


AGM tomorrow.


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*



YOUNG_TRADER said:


> Hi Sam
> 
> I'm happy to use the lower 23.5c cash per share backing,
> 
> So unless the projects have a negative value, hard to imagine given the exploration potential they hold then, then it seems the selling may have been overdone,
> 
> Then again in these mkts who knows, still was interesting to run the ruler over




Well I grabbed some yesterday and got out today for a nice little profit

I can't believe how hard its bounced and to think I got some at 16.5c on the close yesterday, what a difference 24hrs and a big rate cut makes


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Hi folks,
> 
> MEO ... so, now the truth is apparent and the panic is on, where is
> a good entry ..... ???
> 
> MEO price, down to 17.5 cents today ... and we would like to see it
> trade down about 90% from its 1.60 high, at around 16 cents ... that
> seems to be an obvious place for an ambush, by cashed-up traders.
> 
> As per time cycles above, there's probably no real hurry to get
> set in MEO, anyway ... more conservative traders may choose to
> wait for a confirmed low, between now and 22-26022008 .....
> 
> have a great day
> 
> paul
> 
> =====






Hi folks,

MEO ..... as expected, traders set their ambush, around 16 cents
..... but for most traders, figure there's still plenty of time to get
set in this one ... 

happy days

  paul



=====


----------



## mailman

*Re: MEO - Methanol Australia*

So Paul

Where is MEO going to do in the short term do you expect a gradual increase?

Maybe 30s next week


----------



## bigdog

*Re: MEO - Methanol Australia*

MEO Company Summary
Market Cap:	$90,693,918 (assume exclude new issue of 50 million shares at $1.25!)
Issued Shares:	385,931,570

Todays ann stated:
"MEO has $63M and remains on track to becoming a substantial integrated upstream company"

-- the $63 million represents 50 million shares issued at $1.25
-- the 50 million shares are currently valued 23.5 cents totals $11.8 million
-- a loss to the new clients of $51.2 million

Why is the SP not higher?

ASX ann today
24-01-2008 01:23 PM 	MEO 	General Meeting Presentation 24 January 2008
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00805601

I feel for the clients of Tolhurst Limited and WH Ireland Limited!

Excepts include:

*Ordinary Resolution: ratification of issue of 50,000,000 shares–“*

“That in accordance with Listing Rule 7.4 of the Listing Rules of the Listing Rules of ASX Limited, the issue of 50,000,000 ordinary fully paid shares in the capital of the Company, to clients of Tolhurst Limited and WH Ireland Limited, on 17th day of December 2007, at a price of 1.25 per share is hereby ratified per share is hereby ratified”

*Where to from here?*
• MEO is focused on securing gas supply for MEO is focused on securing gas supply for Tassie GTL Projects
– Gas discovery confirmed in Heron North Elang sands
– Significant potential in Heron North Plover sands
- Plover sands are the proven conventional reservoir in the Bonaparte Basin/Timor Sea
- Insufficient lead time to procure supplies to sidetrack time to procure supplies to sidetrack second well to target Plover sands at Blackwood

• MEO continues to develop its globally competitive LNG and methanol projects 
• Work progressing on highly prospective NW Shelf permits permits
• MEO has $63M and remains on track to becoming a substantial integrated upstream company


24-01-2008 01:35 PM  	 MEO  	  Results of General Meeting - January 24, 2008   
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00805607

OUTCOME OF RESOLUTION PUT AT GENERAL MEETING – 24 JANUARY 2008   
The resolution is respect of Ratification of the Issue of 50,000,000 Shares was passed by shareholders by a show of hands.


----------



## mailman

*Re: MEO - Methanol Australia*

I think there is No gas No gas  -No gas if the MD Mr Hart is reading this who would say that we are in great shape thanks to the recent 1.25 shareholders.

Man what about making thanks for being jooped.  Thank the shareholders dude!


----------



## hashertu

*Re: MEO - Methanol Australia*

I am an XTR shareholder in London and am puzzled by the cash statement made on the last slide of yesterday's MEO presentation.  As I understand it:
At the end of September MEO had A$69m cash.
If they are spending approx A$10m per quarter, they should have A$59m at the end of December.
In December, they issued 50m shares at A$1.25 which should have raised A$63m.
In todays presentation, the last slide states they have A$63m.
Don't they have a lot more than this?  Say A$122m.

Can any point out my error?

Thanks


----------



## zt3000

*Re: MEO - Methanol Australia*

maybe had cash from b4 cap raising

...

doing well today ... i think people have realised that this was way oversold ... will see what the comming days bring ... looking the goods so far imo


----------



## mailman

*Re: MEO - Methanol Australia*

If MEO Australia were confident in themselves and their ability to make $$$$$ surely they would buy their own stock at these prices. Any thoughts guys?

Mailman


----------



## moneymajix

*Re: MEO - Methanol Australia*

Up nearly 51% to 40c


Huge amount of buying. Gotten the interest of traders.



What goes down, must come up!


----------



## mailman

*Re: MEO - Methanol Australia*

Long way to go on MEO What happen here next is anyones guess.  I bet its down tommorrow??

Or maybe this is a conspiracy and there is gas?


----------



## Aussiejeff

*Re: MEO - Methanol Australia*



mailman said:


> Long way to go on MEO What happen here next is anyones guess.  I bet its down tommorrow??
> 
> Or maybe this is a conspiracy and there is gas?




Huge movements up, when the last news wasn't exactly positive and in the current very negative / jittery market climate, do seem a bit odd to say the least.... somebody must know something...


----------



## mailman

*Re: MEO - Methanol Australia*

A little bird flew through the big window I have and told me that they may in fact be alot of gas down in that hole.

Who knows what does Macquarie think anyone out there from Macca's


----------



## doogle

*Re: MEO - Methanol Australia*

A Plover flew into Darwin this morning from the Timor Sea, high on Methanol or was it just covered in mud...?


----------



## doogle

*Re: MEO - Methanol Australia*

Well one of the directors resigns...personal reasons - lets hope that is the only reason. I can't see any relationship to the most recent statement - its not like this well failed and he resigned....


----------



## mailman

*Re: MEO - Methanol Australia*

I am hearing that on Feb 18 they should drive through and finall see if here is gas - If you went to the casino and played 2up surley you should win 1 in 3 . Maybe we are all doomed on this stock and it is really with the 16cents that the bank account is worth.

If there is anyone that can reassue me here I woudl love to get a false bit of confidence


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Posted 13122008:
> 
> Hi folks,
> 
> MEO ..... despite the current hype, still figuring on some negative time
> cycles coming into play, soon:
> 
> 24-31122007 ..... negative news, brings negative spotlight  to MEO
> 
> 04-07012008 ..... minor
> 
> 11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???
> 
> 26-30012008 ..... 2 negative cycles ... finance-related ... ???
> 
> 22-26022008 ..... positive aspect to bring first signs of recovery ...
> 
> happy days
> 
> paul
> 
> =====






Hi folks,

MEO ... as forecast above ..... positive news comes in, right on time ... !~!

..... and more positive MEO news is expected in March, with several
positive time cycles coming into play, around 17-24033008 ..... 

But, be alert for a negative spotlight on MEO shortly after, around 26-27032008.

have a great day

  paul



=====


----------



## doogle

*Re: MEO - Methanol Australia*

Man! Trader Paul you are one scary <expletive> ...when you post I go into sweats....can't we just have positive news all the time? Are you like reading from the stars or tea leaves or something? My poor little MEO can't deal with this kind of cold analysis.


----------



## bigdog

*Re: MEO - Methanol Australia*

MEO   	$0.375  	   	  +$0.095   	  +33.93   	 high of $0.405  	   	 19,108,460  	 $6,868,804 @  	 03-Mar 14:53:35

There are not many rises today!

 All Ordinaries: 5,517.0 down 157.7 points at 2:55 PM

ASX ANN today
03/03/2008	Blackwood-1 Well Weekly Drilling Report No 5
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00818970

Key Points: 
• Drilled 12 ¼ inch hole to a total depth of 3286m 
• Well encountered elevated gas readings in Flamingo and Plover sands 
• First logs confirm gas saturation with neutron density crossover 
• Total gross hydrocarbon column of 126m over two sandstone units  

MELBOURNE, AUSTRALIA (March 3, 2008) -- MEO Australia Limited (ASX: MEO) submits this drilling report for the period ending 1000 hours March 3, 2008.  Blackwood-1 was spudded at 1830 hours (ACST) on February 1, 2008 in Exploration Permit NT/P68.  

The rig has completed drilling the 12 ¼ inch hole to a total depth of 3286m.  The well has encountered elevated gas readings in the interpreted Flamingo and Plover sandstone units.   The mud gas sampling recorded no carbon dioxide (CO2) while drilling the gas saturated zones, suggesting the gas should not be high in CO2.  Gas quality will be confirmed by MDT (Modular Dynamics Testing) down-hole sampling and subsequent analysis.  

The rig is currently acquiring a full spread of logging data, including image and side wall core samples.  MDT testing will be undertaken later today to recover pore pressure data and gas samples.     

Initial log interpretation indicates a total gross hydrocarbon column of 126m comprising of an upper Flamingo gross sand unit between 3136mMD to 3149mMD (13m) and a lower Plover gross sand unit between 3177mMD to 3262mMD: GWC (85m) resulting in a combined 98m of gross gas saturated sand interval.  This column is considerably in excess of the anticipated most likely ‘mid case’ pre-drill estimate of 57m. 

Data acquisition and interpretation is ongoing and subsequent releases detailing the significance of the Blackwood-1 drilling results will be made in due course.  Blackwood-1 is being drilled by Seadrill’s West Atlas jack-up rig.  The Blackwood-1 wildcat well is being 100% funded as a sole risk exclusive operation by MEO.  

The well is designed as a vertical well to penetrate, log and recover hydrocarbon samples in the Plover Formation of the Blackwood structure.


----------



## trillionaire#1

*Re: MEO - Methanol Australia*

MEO making some strong ground in the last  week up some 50%
did  run up to near 40cents a while back before falling down to .22
would be nice to see this one push past recent resistance at about 44cents
and scoot up to previous support at 75cents


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

MEO on a serious march upwards today.
Rumours linking WPL with a bid for MEO makes sense from WPL point of veiw but Im sure they would not be the only ones interested.


----------



## pmunny

*Re: MEO - Methanol Australia*

hope so... held meo for quite a while now (through the up's and downs), has this rumour been round for a while as it makes a bit of sense but first i've heard of...
yesterday's review by tolhurst is certainly welcome news!!


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

This one looks very interesting

Looks to have broken up through 40c so this should act as support

hmm rumours about a Woodside takeover? can't say I've ever heard anything like that, but you never know 

The TollHurst report that was attached to the please explain was very interesting they have a *$2ish price target* thats almost 500% from these levels 

Like I said a very interesting stock


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Not sure the rumours about WPL takeover were true but does make sense with MEO acerage.
$2 Per share valuation put on MEO may explain some of the volume over the last few days and a good rise in the SP must now be expected.


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

I see MEO getting a mention on inside buisness today.
Marcus Padley mentioning a rumour of a bid from WPL that should give the shareprice a nice little run.
Maybe the Tolhurst report was a way of MEO stating their fair value for the company.
$1.98 sounds good to me !


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

running nicely today, still no clarification of those WPL rumours (sounds like a load of bollocks to me) but would love to be proven wrong

was a no brainer trade really in the low 40's given the Tollhurst report


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Was definately an undervalued company even without the WPL rumour.
I look at the CSG companies and their valuations are massive compared with MEOs capitalisation.


----------



## tradingbull

*Re: MEO - Methanol Australia*

Hi,  If you look at meo's latest report on pge. 2 it says their risk value ( all risks taken into account ) is $1.98......... however their unrisked value ( not all risks taken into acc. ) is , wait for it........$12.18 , yes thats right $12 dollars & eighteen cents.......  Plenty more to unfold here guys , large players are hungry for gas & meo has some of the best acerage in the world with proven resources......

Huge weeks ahead.....


----------



## trillionaire#1

*Re: MEO - Methanol Australia*

Great to see MEO on an uptrend thats so far holding.i bought earlier this year for  
35cents and held against common sense as it slid to 23 cents.
wow a prediction of $12SP unrisked,beautiful ive never been to hawaii:bowser:


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Well I may sell @ $12 a share if the rumour comes true and an offer is made.
Its not an unrealistic valuation given the current climate prices paid for acerages MEO have and the work already done by the company.


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

This is a trade for me, hope you guys make a ton but I will not be in it for those heady figures if it ever gets there,

Will take it each day at a time

But must admit that the Tollhurst report did tickle me


----------



## nomore4s

*Re: MEO - Methanol Australia*

The TA is looking positive atm as well.

Has a very nice base to build from, with what appears to be accumulation and we now seem to have confirmation of that acc showing itself.

I would now be anticipating a continued move up (hopefully) to around 65-70c before some consolidation between 50-70c (last point of support), this of course depends on how many weak hands are out there, prices may just shoot higher before we see any consolidation, re-accumulation or more unlikely(atm) distribution.

For a similiar chart to this and for some idea of what I'm going on about refer to post 20 & the CEY chart in the Wyckoff thread.

I hold, and will look to buy more on a confirmed LPS.


----------



## doogle

*Re: MEO - Methanol Australia*

I am a big believer in MEO...have been patient like some of you, waiting out the drops and rises, maybe this time we are going to see a big jump.

What we need is a damn good discovery or two from the gas fields and not speculative investment...I am counting on some big announcements to really bed down some gains.


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Well let it run for a bit and missed the peak as it fell back,

Still scalped a nice trade on MEO,

good luck to all those still holding fundies are great but as I said twas just a trade for me


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Needs to find a base for the next leg up.
Big volume to big for daytraders so I feel some kind of news maybe coming.


----------



## Romeo75

*Re: MEO - Methanol Australia*

Looks like many were buying the rumour of a WPL takeover and dumped when no news came in.  I'm guilty of buying into the hype & jumped in at 0.575  Just hoping there is merit in Tollhurst's valuation of $1.98.


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

WPL was just a bonus to the shareprice but MEO was undervalued as the Tolhurst valuation said.
Im looking forward to a great ride with MEO over the next few years there is more value in it than as a takeover imo.


----------



## mark t.c.

*Re: MEO - Methanol Australia*

And three weeks ago some dutch investors bought lots of shares, and they are planning to buy more next week. That could be interesting.


----------



## Lucky_Country

*Re: MEO - Methanol Australia*



mark t.c. said:


> And three weeks ago some dutch investors bought lots of shares, and they are planning to buy more next week. That could be interesting.




Dutch investors ?
How do you know a group of Dutchmen has bought some shares and they are going to buy more are you their broker ?


----------



## mark t.c.

*Re: MEO - Methanol Australia*



Lucky_Country said:


> Dutch investors ?
> How do you know a group of Dutchmen has bought some shares and they are going to buy more are you their broker ?




No i'm not their broker. One of the investors asked me to invest too, so from that time i got interested in the company MEO, and i must said it's an interesting company which is very undervalued at this time.


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Just a strange scenario you have there.
Investors buy every week so whats so special about these Dutch investors ?
Not a bad post for you first post gets the mind racing.


----------



## nomore4s

*Re: MEO - Methanol Australia*

While the sp dropped back a little further than I would have liked some positive signs for MEO today imo, support looks to have showed itself today, need some sort of follow through though.

40c is the critical level for me atm, a close under that and I would be looking to exit my positions for the moment. It could depend alot on overseas markets over the next few days. We will see.

Purchased more at 42.5c today.


----------



## nomore4s

*Re: MEO - Methanol Australia*



nomore4s said:


> While the sp dropped back a little further than I would have liked some positive signs for MEO today imo, support looks to have showed itself today, need some sort of follow through though.
> 
> 40c is the critical level for me atm, a close under that and I would be looking to exit my positions for the moment. It could depend alot on overseas markets over the next few days. We will see.
> 
> Purchased more at 42.5c today.




Well we got some follow through today

Bit surprised the thread was so quiet today, MEO was up over 25% at one stage today.

But a very weak close, and being on high volume its not a very good sign imo.

We will have to see what the response is in the next few days. I'm still looking for 40c to provide support.

Had a chart but I am having trouble attaching them atm.


----------



## nomore4s

*Re: MEO - Methanol Australia*

Thread is very quiet, considering MEO closed up 24% today, maybe everyone is too busy on the BNB thread:.

Very strong move today considering the rest of the market, tomorrow will be interesting to see if the move up can continue.

Would be expecting a speeding ticket at some stage tomorrow considering the volume and gains of the last few days.


----------



## El Usuar

*Re: MEO - Methanol Australia*

I sold out in the mid-fifties today. The sharp rise and fall on Wednesday seemed a little contrived and had me worried. The strength of the afternoon action drew me back in. There must be something up; substance to rumours or insto buying? Any ideas?


----------



## 1trader

*Re: MEO - Methanol Australia*

This is truly a speculative stock.With large swings in volatility. Frankly MEO do not have anything substantial yet, given the valuations by Tolurst.. Does anyone know how much it costs to drill a oil.gas  rig, given that they missed the first time .. Not hundreds of thousands of dollars, it costs millions! Frankly this a high risk stock, in a very difficult market


----------



## El Usuar

*Re: MEO - Methanol Australia*

Granted. And given that there is nothing immediately forthcoming from the company, why such volatility?

I do have another question (and please excuse my ignorance on this I have only been following MEO over the past month or so) but since Tolhurst were partial underwriters for the $1.25 issue doesn't that potentially undermine the value of their recent analysis (and the $1.98 valuation)?

I continue to hold (and do have faith) in MEO.


----------



## kervz

*Re: MEO - Methanol Australia*

Will be interesting to see where MEO heads from here, trend is still upwards I think. 

Interesting article here, about the new MEO CEO, very expereinced, but seems like he was working for tollhurst broking firm before taking up the job at MEO, could just be conincidence and might have nothing to do with the Tollhurst report. 

http://www.oilvoice.com/n/MEO_Australia_Appoints_New_CEO/f0495a5c.aspx


----------



## mark t.c.

*Re: MEO - Methanol Australia*

And now not only the Dutch, but also the Germans are involved. Der Deutsche Bank und die deutsche grundlichkeit. And the next goal is 70 cents.


----------



## jayinoz

*Re: MEO - Methanol Australia*

I feel until Meo comes out with some more info in regards to its associated projects and target updates this stock will continue to vary btw 40-70 cents. 

Worth a punt below 50c. I bought in below 50 c 3 times now & sold in mid 50s, this been my best earner this year. Yet I feel I pushing my luck as time drags on to hear some more information from Meo management. If hear no more updates this month we will drop back to 20s at a guess.

If you look back at Meo history everytime they needed a boost in share price they have employed the brokers to give a valuation that is based on actual high production. This is not taking place and still in the dream stage for Meo.... No real basis for the $1.98. Worth a punt if have excess cash or u pushing ur luck as daytradder. They tried + failed b4....


----------



## jayinoz

*Re: MEO - Methanol Australia*

Should be a good mover today as the dutch bank purchased 21 mil shares announced today... yet they purchased 12\6. Worth a couple of bucks again if can get below .5 at open. Yet no real progress info out yet.


----------



## mark t.c.

*Re: MEO - Methanol Australia*

: Meo is becomming popular in europe. There is really something going on. And you alays have a downtrend as news stays out. So time to buy.


----------



## pmunny

*Re: MEO - Methanol Australia*

anyone care to speculate on the trading halt??
sold out a couple of weeks ago, maybe I should have sat tight.....


----------



## mark t.c.

*Re: MEO - Methanol Australia*

Australian minnow MEO is poised to make a significant market announcement relating to a farm-in for its Carnarvon permits and NT/P68 licence after calling for a trading halt today. 

The outfit said it will make an announcement before trading kicks-off again on Friday. 

In May, MEO said it was planning to farm-out a stake in exploration licence NT/P68 to help fund further appraisal drilling, leading to the eventual development of a methanol project and possibly a liquefied natural gas project. 

In the Carnarvon basin, MEO holds the WA-361-P, 60-P and 61-P licences. 

According to MEO, the 1200 square kilometre WA-361-P licence, which lies next to the Goodwin and Rankin fields has advanced commercialisation options for gas, including a 2.5 to 3 million tonne per annum floating liquefied natural gas plant.


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Looking forward to seeing what really is going on can only be good imo.
Will it be a cash payment or a takeover how much is the acerage worth ?


----------



## Lucky_Country

*Re: MEO - Methanol Australia*

Well whos read the announcement looks like a great deal for MEO a company maker even.
RDI proving funding for development and drilling MEO just takes the profit big day tommorrow !


----------



## nomore4s

*Re: MEO - Methanol Australia*

There now looks to be quite heavy resistance at the 60-65c level. It appears to me that there will be some more work required before we get a jump across this resistance. Price could range for a while between 40-60c.

Fridays bar is quite negative (short term) - annoucement out, highish volume but a complete rejection of the resistance at that 60c level and a very weak close while the general market was quite strong.

I sold one of my parcels at 58c, to lock in some profits but still hold some. And will now look to buy more if 40c holds but will exit all positions on a close below 40c.


----------



## jayinoz

*Re: MEO - Methanol Australia*

MEO has been a very volitile stock for sometime. Been a good day trade yet it just as likely to trigger your stop loss than meet your target. They need some real results to prove that they will be an earner in the future to increase. Or a takeover, etc. There was a big page article about the company in the Age a couple days ago.

This may cause some interest tomorrow.


----------



## mapna

*Re: MEO - Methanol Australia*

Wonder why the QLD Billionaire bought 21mil shares at $.55/share and its SP dropped to $.40 on Friday??? If the company isn't that good that he would not pay for that price ????

Is it because of the bearish movement of the global market dragged down MEO and others alike ???


----------



## mark t.c.

*Re: MEO - Methanol Australia*

I guess he bought it because he knows the stocks will soon rise to over 1 ASD. But believe me, even then he won't sell, because the current value of MEO is much more and the future value (2012-2014) is much much much more.


----------



## doogle

*Re: MEO - Methanol Australia*



mark t.c. said:


> I guess he bought it because he knows the stocks will soon rise to over 1 ASD. But believe me, even then he won't sell, because the current value of MEO is much more and the future value (2012-2014) is much much much more.




Wow is this a ramp up or what...long way to go on this but I am holding.

RDI is what all MEO holders need to research.


----------



## doogle

*Re: MEO - Methanol Australia*



doogle said:


> Wow is this a ramp up or what...long way to go on this but I am holding.
> 
> RDI is what all MEO holders need to research.





...oh yeah and ARH too it seems. Anyone know what I am talking about? ......anyone out there?..............(damn this 100 character limit)


----------



## mark t.c.

*Re: MEO - Methanol Australia*



doogle said:


> ...oh yeah and ARH too it seems. Anyone know what I am talking about? ......anyone out there?..............(damn this 100 character limit)





Yes ............................you're talking about a new multi billion dollar energy company......................... focused on the exploding chinese market with his enormes hunger for energy.


----------



## doogle

*Re: MEO - Methanol Australia*

So technically an investment into ARH 'should' eventually become part of RDI when it floats. Holding MEO also will mean a connection with RDI (when it floats) This is the theory. Any opinions/knowledge to share on the RDI float....is it a good idea to invest in ARH as a back door into RDI or is it safer to wait until the float??


----------



## mark t.c.

*Re: MEO - Methanol Australia*



doogle said:


> So technically an investment into ARH 'should' eventually become part of RDI when it floats. Holding MEO also will mean a connection with RDI (when it floats) This is the theory. Any opinions/knowledge to share on the RDI float....is it a good idea to invest in ARH as a back door into RDI or is it safer to wait until the float??





I was at olympic games, so i couldn't reply earlier. I'm expecting a booming meo in the very near future. And than i have my connection with RDI because, if RDI floats, i guess that RDI will take over MEO too. Meo is very heavy undervalued. So short term profit must come from meo. But that's only my opinion. However, by studying the management-option-contracts, you must come to the conclusion that the management has much confidence in meo.


----------



## doogle

*Re: MEO - Methanol Australia*

I am hoping the value of MEO does ramp up soon because our RDI friend might try and get them at a low price. ARH will be approx 2.2 for every RDI share I believe.
RDI is supposed to float late 2008- anyone know who will manage it?


----------



## Shrewd Crude

*Re: MEO - Methanol Australia*

mark t.c...
I do not hold your same sentiment that MEO is very undervalued...
But I wont go into that...
This Zeus well spudding late Oct is the most exciting Offshore well in Auzzie this year... Peter Strachan said that this Well alone could add 80 cents to CUE...
Theres a big difference between CUE and MEO as CUE will have first production (from 3 producing wells by then), also current revenues and another free carry on spikey beach..... it is free carried on Zeus, low downside... and MEO is not...

.^sc


----------



## doogle

*Re: MEO - Methanol Australia*



doogle said:


> I am hoping the value of MEO does ramp up soon because our RDI friend might try and get them at a low price. ARH will be approx 2.2 for every RDI share I believe.
> RDI is supposed to float late 2008- anyone know who will manage it?




damn  there is the possibility of a required minimum of $5000 investment to enable ARH shares to be carried over to RDI....well at least the price might go up before this and they have to buy me out.


----------



## mark t.c.

*Re: MEO - Methanol Australia*



Shrewd Crude said:


> mark t.c...
> I do not hold your same sentiment that MEO is very undervalued...
> But I wont go into that...
> This Zeus well spudding late Oct is the most exciting Offshore well in Auzzie this year... Peter Strachan said that this Well alone could add 80 cents to CUE...
> 
> MEO Increases interest in WA-361-P & Zeus-1 to 35%
> Key Points: Cue and Gascorp have each elected NOT to fund 5% of the Zeus-1 well Additional 10% interest reverts to MEO, taking interest in WA-361-P to 35%
> 
> Which stock will raise with at least 80 cents? Answer: Meo.


----------



## joey calzone

*Re: MEO - Methanol Australia*

Well. It's been a bit painful of late, but MEO at 0.10/0.11... what value! 

Just hoping the worst is over for MEO and now waiting for the forthcoming flood of buying to take it to the third creek!


----------



## Shrewd Crude

*Re: MEO - Methanol Australia*

hey mark,
its all about risk return buddy...
MEO are paying.. its all ok to me...
its a high risk, high return well...
I do not see value in MEO bar this well... if it fails then this company be devastated...
Its NT/P68 assets are proven to be uneconomical, and MEO's chances of progressing are in the hands of RDI... which would not be likely for them to list in this market...
MEO has fallen from 38cents since my post...

.^sc


----------



## bigdog

*Re: MEO - Methanol Australia*

Speeding ticket issued today

12/01/2009		Response to an ASX Price Query
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00918779

The company is not aware!!

SP has been doing well over the past week

*Today: MEO   	last $0.30  	   	  +$0.055   	  +22.45%   	 high $0.305  	   	 7,318,366 shares 	 $2,105,973 @	 12-Jan 14:42:05* 

Date------- 	High- 	Close	Volume 
09-Jan-09	0.255	0.245	5,546,802
08-Jan-09	0.185	0.185	1,143,246
07-Jan-09	0.190	0.180	1,349,926
06-Jan-09	0.190	0.170	1,772,906
05-Jan-09	0.175	0.170	1,436,712
02-Jan-09	0.150	0.150	298,050
31-Dec-08	0.145	0.145	138,846
30-Dec-08	0.145	0.145	228,568
29-Dec-08	0.145	0.140	315,289
24-Dec-08	0.140	0.140	133,000
23-Dec-08	0.145	0.140	110,000


----------



## moneymajix

*Re: MEO - Methanol Australia*

*QLD tycoon hopes gods smile on gas play*
Barry Fitzgerald
January 19, 2009 

Clive Palmer has rolled the dice over Zeus, an infamously fickle deity.

MONEY begets money. It's an axiom that is about to be put to the test big time in the oil and gas sector by Queensland's richest man, Clive Palmer.

In an enormous personal gamble, Palmer has plonked down $46 million on a bet that the Zeus gas exploration well on the North West Shelf can live up to the awesome reputation of its namesake Greek god.



http://business.theage.com.au/business/qld-tycoon-hopes-gods-smile-on-gas-play-20090118-7k12.html



Ann.
19 Jan 2009 11:59

Cue Energy Resources Limited is pleased to announce that the Zeus -1 well spudded on January 17, 2009.


31.5c.


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today which the market did not like!

Was down to low of 0.099!

MEO   	0.11  	  -0.035   	  -24.14%   	  high of	0.12  	 low of 0.099  	4,473,259 shares  	$500,196  @	12-Feb 10:15:12 AM

9:49 AM  	Zeus-1 Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00926625

ASX AND MEDIA RELEASE - Zeus-1 update 

*Key Points: *

Initial wireline formation evaluation tools have been run 
Two excellent quality Legendre sand intervals appear to be largely water bearing 
Formation pressures and sampling program underway to confirm fluid content

MELBOURNE, AUSTRALIA (February 12th, 2009) -- MEO Australia Limited (ASX: MEO) advises the following update in relation to Zeus-1 (MEO 35%, Operator), being drilled in WA-361-P in the Carnarvon Basin, offshore Western Australia.  

Initial wireline formation evaluation tools have been run. Two excellent quality sand packages separated by an approximate 10m shale unit have been intersected over a 143m gross interval. This interval is interpreted to be the primary Legendre Sandstone target.  Preliminary log analysis indicates these intervals are likely to be largely water bearing. However, there are anomalous intervals at the top of both intervals that warrant further investigation.  

An MDT formation pressure and limited sampling program is proposed to confirm fluid content at the top of both sand intervals. In the event that gas is recovered from either of these intervals, the implication is that there may be substantial untested potential updip of the current well location.  

Following the pressure testing and sampling program, the well will be plugged and abandoned as planned.  

Present operation 
Preparing to run formation pressure and limited sampling program.


----------



## furiouswilly

*Re: MEO - Methanol Australia*



bigdog said:


> ASX ANN today which the market did not like!
> 
> Was down to low of 0.099!
> 
> MEO   	0.11  	  -0.035   	  -24.14%   	  high of	0.12  	 low of 0.099  	4,473,259 shares  	$500,196  @	12-Feb 10:15:12 AM
> 
> 9:49 AM  	Zeus-1 Update
> http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00926625
> 
> ASX AND MEDIA RELEASE - Zeus-1 update
> 
> *Key Points: *
> 
> Initial wireline formation evaluation tools have been run
> Two excellent quality Legendre sand intervals appear to be largely water bearing
> Formation pressures and sampling program underway to confirm fluid content
> 
> MELBOURNE, AUSTRALIA (February 12th, 2009) -- MEO Australia Limited (ASX: MEO) advises the following update in relation to Zeus-1 (MEO 35%, Operator), being drilled in WA-361-P in the Carnarvon Basin, offshore Western Australia.
> 
> Initial wireline formation evaluation tools have been run. Two excellent quality sand packages separated by an approximate 10m shale unit have been intersected over a 143m gross interval. This interval is interpreted to be the primary Legendre Sandstone target.  Preliminary log analysis indicates these intervals are likely to be largely water bearing. However, there are anomalous intervals at the top of both intervals that warrant further investigation.
> 
> An MDT formation pressure and limited sampling program is proposed to confirm fluid content at the top of both sand intervals. In the event that gas is recovered from either of these intervals, the implication is that there may be substantial untested potential updip of the current well location.
> 
> Following the pressure testing and sampling program, the well will be plugged and abandoned as planned.
> 
> Present operation
> Preparing to run formation pressure and limited sampling program.




Hi big dog,

u reckon price will keep dropping? is that a good chance to invest? i bought some @ 0.26... now...


----------



## bigdog

*Re: MEO - Methanol Australia*

*Clive Palmer has plonked down $46 million on a bet that the Zeus gas exploration well on the North West Shelf can live up to the awesome reputation of its namesake Greek god.

Clive will not be smiling today!!*

http://www.brisbanetimes.com.au/new...ile-on-gas-play/2009/01/19/1232213484988.html

QLD tycoon hopes gods smile on gas play
Barry Fitzgerald | January 19, 2009 - 7:07AM

Clive Palmer has rolled the dice over Zeus, an infamously fickle deity.

MONEY begets money. It's an axiom that is about to be put to the test big time in the oil and gas sector by Queensland's richest man, Clive Palmer.

In an enormous personal gamble, Palmer has plonked down $46 million on a bet that the Zeus gas exploration well on the North West Shelf can live up to the awesome reputation of its namesake Greek god.

Flush with funds from his iron ore killings in Western Australia, Palmer's unlisted Resource Development International Limited is funding 80 per cent of the cost of drilling Zeus to earn a 35 per cent interest.

The $46 million "bet" he is making represents the capped cost of RDI's exposure to the well. Roman goddess Venus will be on hand to see what Zeus has got, with the Norwegian-owned "Songa Venus" semi-submersible rig due to have spudded in the well on the weekend.

Zeus is a structural/stratigraphic play estimated to contain 15 trillion cubic feet of gas in the Legendre sandstones and maybe another 3.7 Tcf in the overlying Forrestier sandstones. So we're talking about liquefied natural gas project-sized resources.

But there are no certainties with any of that, so it is a huge roll of the dice by Palmer. Having said that, if Zeus comes in, Palmer will gain J.R. Ewing-like status within the local oil and gas industry to add to his iron ore fame.

As mentioned in Garimpeiro on December 14, Zeus is also a potential game changer for Melbourne-based MEO. It is the operator of the well and a 35 per cent partner.

MEO shares were 11 on December 14. On Friday, the stock closed at 31. That's as good an example as you'll get of investing in the junior sector being all about stock selection, particularly during a raging global financial crisis.


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Hi folks,

MEO ... as requested, here's our astroanalysis, over coming months:

11-13022009 ..... 2 negative time cycles.

19-20022009 ..... another difficult cycle expected.

24-25022009 ..... a short, but positive spotlight on MEO

12-13032009 ..... positive news expected here

23-24032009 ..... a short, but positive move

27-30032009 ..... 3 negative cycles to focus a
negative spotlight and negative news on MEO

13042009 ..... minor and positive news expected

27042009 ..... minor and positive spotlight on MEO

3004-01052009 ... negative time cycle expected

08052009 ..... more negativity (price = 12022009???)

27-28052009 ..... minor cycle

09-10062009 ..... minor and positive cycle

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ... a very positive spotlight on MEO ..... 

More later.

happy trading

paul



=====


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today

Not looking good!

13/02/2009 	Zeus-1 Update
ASX AND MEDIA RELEASE 
Zeus-1 update 
*Key Points:* 

Formation pressures testing program confirm target sands are water bearing 
Plugging and abandonment program underway

While the results from Zeus-1 are clearly disappointing, MEO remains optimistic that there is significant untested potential for gas accumulations within its North West Shelf acreage. Once the results from the well are fully integrated with the existing database, the forward plan for WA-361-P will be determined. The drilling of the well satisfies the Year 5 commitment for the permit.


----------



## doogle

*Re: MEO - Methanol Australia*



bigdog said:


> ASX ANN today
> 
> Not looking good!
> 
> 13/02/2009 	Zeus-1 Update
> ASX AND MEDIA RELEASE
> Zeus-1 update
> *Key Points:*
> 
> Formation pressures testing program confirm target sands are water bearing
> Plugging and abandonment program underway
> 
> While the results from Zeus-1 are clearly disappointing, MEO remains optimistic that there is significant untested potential for gas accumulations within its North West Shelf acreage. Once the results from the well are fully integrated with the existing database, the forward plan for WA-361-P will be determined. The drilling of the well satisfies the Year 5 commitment for the permit.




...to put it mildly.
Well from what people have said Zeus was the one that had to deliver and now it hasn't, what to do? Hang in and gamble on other wells or plug it and run (or swim in this case). I have given MEO a lot of patience over the years is it time to swim??


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Hi folks,
> 
> MEO ... as requested, here's our astroanalysis, over coming months:
> 
> 11-13022009 ..... 2 negative time cycles.
> 
> 19-20022009 ..... another difficult cycle expected.
> 
> 24-25022009 ..... a short, but positive spotlight on MEO
> 
> 12-13032009 ..... positive news expected here
> 
> 23-24032009 ..... a short, but positive move
> 
> 27-30032009 ..... 3 negative cycles to focus a
> negative spotlight and negative news on MEO
> 
> 13042009 ..... minor and positive news expected
> 
> 27042009 ..... minor and positive spotlight on MEO
> 
> 3004-01052009 ... negative time cycle expected
> 
> 08052009 ..... more negativity (price = 12022009???)
> 
> 27-28052009 ..... minor cycle
> 
> 09-10062009 ..... minor and positive cycle
> 
> 12-15062009 ..... minor and positive cycle
> 
> 19-22062009 ..... minor time cycle
> 
> 26-29062009 ... a very positive spotlight on MEO .....
> 
> More later.
> 
> happy trading
> 
> paul
> 
> 
> 
> =====






Hi folks.

MEO ..... as bleak as prospects may seem now, our astroanalysis indicates,
that exactly a year from now, MEO has 3 very positive time cycles 
coming together, so MEO should be booming again, around 15-17022010 !~!

have a great day

   paul



=====


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

hmmmm been watching this for a few days just cause unlike most other stocks yet to run

interesting directors buying shares on mkt recently

also some interesting info from qtrly

Key Points Drilled Zeus-1 in WA-361-P without encountering hydrocarbons Varied WA-359-P and WA-360-P work programs deferring drilling into 2010 Increased equity interest in WA-360-P from 60% to 70% Acquired 250 km² Artemis 3D marine seismic survey Artemis prospect (WA-360-P) preliminary gas-in-place estimates 6 – 9 Tcf Prepared to farm-out WA-360-P and NT/P68 during 2Q’09 Consolidated cash balance at 31 March A$21.8m

Not a bad amount of cash around 5c worth 
Wonder if that large Gas Target will attract any majors, 6-9TCF Gas in Place ain't small, not really a follower of the sotry, how big was that Zeus well target?


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

really shouldn't be so lazy, 5mins of research and I found it 

Zeus-1 pre-drill volumetric gas-in-place estimates were upgraded to 15 Tcf for the primary Legendre sandstone target and 3.7 Tcf for the shallower Forrestier sandstone secondary target.

This well/target turned out to be a dud and what a dud! I think it cost something like $35m US+ to drill, luckily looks like MEO farmed out most of the well and thus drilling costs! Gee Wiz the real money maker is to own the drill rigs!!!

Well given Zeus was a 15TCF target I suppose 6-9TCF aint that big, wonder how many majors will sniff around though given current GFC conditions to fund the drilling of this well, from the qtrly it looks like they will be looking to farmout alot of their projects at some upcoming Oil and Gas conference in Singapore

MEO will commence a formal farm-out process at the Seapex conference in Singapore commencing 21st April, aimed at attracting a substantial partner to fund the drilling of the year 5 commitment well.MEO will launch a formal farmout process at the Seapex conference aimed at attracting a funding partner to undertake additional appraisal drilling on its Heron and Blackwood gas discoveries.


Also look to be watching out for new opportunities, would have thought they have their plate full farming their existing ones out 


New venture opportunities
MEO continued to screen a number of unsolicited opportunities during the quarter.


----------



## bigdog

*Re: MEO - Methanol Australia*

Business Spectator reports (not a lot of money parted with by the directors!!)

http://www.businessspectator.com.au...tors-buy-on-market-RAFZR?opendocument&src=rss

*MEO Australia directors buy on-market*

Source: News Bites

MEO Australia Ltd director Nicholas Moubray Health indirectly bought 305,165 shares for $21,800 on-market on April 20, 2009.

He indirectly holds 916,341 shares and 1,000,000 options.

Director Michael Sweeney indirectly bought 139,984 shares for $10,000.

He indirectly holds 139,984 shares and 1,000,000 options.

Director Gregory Allen Short indirectly bought 27,997 shares for $2,000.

He indirectly holds 67,734 shares and 1,000,000 options.

STOCK DASHBOARD: April 20, 2009

MEO Australia

Price at 1:00 pm: 7.50c

Price change from previous trading day: 1.4%

Relative Strength (6 months percentile rank): 11.8

Market capitalisation: $31.3 million

Turnover volume: 494,987.0

Volume Index (1 is average): 0.4

Turnover value: $3.7 million

Turnover period: 7 months

Value of $1,000 invested 1 year ago: $283


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Well we should get a presentation today from that conference in Singapore that MEO are at,

I see the resistance level being 8c, could a techie/chartie check that and correct me if needed? From what I can see a break of 8c will signal a potential breakout??


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Breakout on good volume past 8c, whats the next target techies 10c? then 14c?

10c looks like it will be hard but I wonder if this is just sentiment or has something to do with their attempted farm outs at that Singapore Oil conference on Wednesday

Could just be sentiment but timing is very coincedental, hopefully an ASX query will come to answer my curiousity


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Something is up massive volumes! 11M already, just broke through 10c and hit 10.5c

Where the hell is the ASX with a pseeding ticket god they are slack, will probably realise on Sunday hmmmm I think MEO needs to explain themselves 

Something is up!!!!


----------



## RP_Automotive

*Re: MEO - Methanol Australia*

I sold these yesturday. I brought in just a few days before Zeus-1 reached TD. I decided that there probably wasn't alot of upside in the short term to make it worthwhile holding on, and I'd be better off putting it into other stocks....but I may be proven wrong. If the next few wells go well (excuse the pun).

And ofcourse, the day after I sell out, it goes up.. Its probably the story of many of our lives


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Can't believe the speeding ticket hasn't come yet, up 30% on almost 20M shares!

20M is like 1 yr high volume (allbeit it its happening at much lower prices)

I see accumulation happening at 10c so I reckon it may go higher


----------



## Sean K

*Re: MEO - Methanol Australia*

Not too surprising it's paused at 10c, LN. 

Pretty ugly long term chart. 

A little bit of a base formed the past 3 months. A little.

Nice to have taken a punt before the jump..


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Thanks Kenna

if it breaks 10c where do you see next tech/chart target? Is it 14c?

10c looks like a big stop point and its already moved very hard today, I certainly am not a buyer at these levels, I bought before the storm, but I'm also not a seller, I am happy to roll the dice and see why 21M shares have traded


----------



## Sean K

*Re: MEO - Methanol Australia*



YOUNG_TRADER said:


> Thanks Kenna
> 
> if it breaks 10c where do you see next tech/chart target? Is it 14c?
> 
> 10c looks like a big stop point and its already moved very hard today, I certainly am not a buyer at these levels, I bought before the storm, but I'm also not a seller, I am happy to roll the dice and see why 21M shares have traded



Somewhere around 14/15 cents, yes.

Haven't looked at the funnys at all, so no comment on the possible market perception driving it. I assume it has something to do with ethanol...


----------



## joey calzone

*Re: MEO - Methanol Australia*

32m volume... wow. Still no price query either. Here's hoping this will actually hold near 0.10. I picked up some more MEO last time it was at 0.10, things are finally looking promising.


----------



## YOUNG_TRADER

*Re: MEO - Methanol Australia*

Almost 36M and finshed near the days high ending up 30%

Wonder whats in the wind and when the ASX will get off their buts and query them?


----------



## bigdog

*Re: MEO - Methanol Australia*



YOUNG_TRADER said:


> Can't believe the speeding ticket hasn't come yet, up 30% on almost 20M shares!




Young Trader, the ASX did read your posting!!!

volume today is looking vg!!!
MEO   	0.11  	  +0.011   	  +11.11%   	5,554,909 shares  	$595,043 @ 	27-Apr 10:09:48 AM

Date -----	Close  	Volume  
24-Apr-09	0.099	35,659,069
23-Apr-09	0.076	1,437,054
22-Apr-09	0.079	1,443,413
21-Apr-09	0.075	1,500,401
20-Apr-09	0.076	1,120,237
17-Apr-09	0.074	2,605,510
16-Apr-09	0.073	3,617,663
15-Apr-09	0.069	1,013,504
14-Apr-09	0.069	869,499


27-04-2009 09:25 AM  	 	Response to an ASX Price Query
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00947032

1. The Company is not aware of any information that has not already been announced to the market.   

3. It is likely that MEO’s operating result for the financial year ended 30 June 2009 will vary by more than 15% compared to the operating result for the financial year ended 30 June 2008 due to the likely write-off of exploration expenditure relating to the Zeus-1 well drilled in WA-361-P in January/February 2009 which failed to discover hydrocarbons.  

4. There is no reason, at this point in time, to think that MEO will record any material abnormal or extraordinary item for the financial year ended 30 June 2009.  

5. The Company notes the rise in the share price and significant turnover on Friday 24 April 2009 and offers the following possible explanation for this increase: 

In the Quarterly Activities Report released to the market on 20th April for the period ended 31 March and in Investor presentations dated 19th March 2009, the Company highlighted:- 

(a) Preliminary gas-in-place estimates for the Artemis Prospect (WA-360-P – MEO 70%) of between 6 and 9 Tcf.  The preliminary volumetric estimates are based on significant technical work undertaken during the quarter aimed at providing evidence for the extension of the neighbouring Wheatstone gas discovery into WA-360-P. The 2004 Wheatstone gas discovery is expected to enter the Front End Engineering and Design (FEED) stage this year for a proposed 10 Mtpa LNG project. The technical work undertaken by MEO during the quarter provides the WA-360-P Joint Venture with encouragement that an extension of the Wheatstone gas field is technically feasible and that the Artemis prospect represents an attractive target upon which to base the year 5 (commencing 1 February 2010) commitment well. 

(b) The Quarterly Report also stated the MEO was about to launch a formal farm-out process for WA-360-P (MEO 70%) and NT/P68 (90-100%) at the Seapex Conference held in Singapore last week (21 - 23 April).  

(c) The 19th March investor presentation indicated that preliminary mapping of the Blackwood gas discovery (MEO 100%) in NT/P68 based on the newly processed Blackwood 3D seismic data integrated with existing 2D data indicated substantial structural closure at East Blackwood. Appraisal drilling is required to confirm whether there is sufficient gas in the Greater Blackwood to underpin the first of MEO’s approved 1.75 Mtpa methanol projects.  

(d) The Quarterly Report stated that cash on hand at 31 March was $21.8 million, equivalent to approximately 5 cents per share.  At the April 24 closing price of 9.9 cents per share, the market is only ascribing ~$20 million to MEO interests in WA-360-P (MEO 70%) together with the Blackwood (MEO 100%) and Heron (MEO 90%) gas discoveries in NT/P68 and the clear commercialization path for stranded Bonaparte Basin gas via MEO’s proposed Tassie Shoal gas processing hub concept.


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN today and below is page 16 of the presentation
22/05/2009    Investor Update May 2009 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00955106

*$22 million in cash and current market value $50 million
Potential value of WA‐360‐P Artemis prospect ~$2.50 per share ~$1.0 Bn market capital*

*Value proposition*
Compelling value gap – requires catalyst(s) to close
…………………………………………….. Share Value
Share Capital ………………………. Price (A$m) Remarks
417m ordinary ……………………..$0.12 $50m Close at May 21st
Less cash on hand…………………$0.05 $22m $21.8m at March 31st
Market value of MEO projects $0.07 $28m Net of cash

*Potential value of MEO Projects*
+Tassie Shoal (50‐90%)
EIA Approvals for gas projects ??? ??? Recent A$1 Bn deal with KLC for Browse onshore LNG site

+NT/68 discoveries (90‐100%) …….. CSG paying >US$0.50/3P Mcf!
Greater Blackwood……………….??? ??? Potential to underpin TSMP (I)
Heron North…………………….……??? ??? Potential for liquids rich gas
Heron South…………………….……??? ??? Potential for liquids rich gas

+WA‐360‐P (assume 20% equity)
Artemis prospect (~9 Tcf GIP) ~$2.50 ~$1.0 Bn 80% Rec., US$0.50/Mcf, Fx $0.70

529


----------



## JAKSPARA

*Re: MEO - Methanol Australia*

up 40% on large volume  and no news. hmmmm. was lookin to pick up a few today @ 15cents lol. Missed the boat again.


----------



## woltage

*Re: MEO - Methanol Australia*



JAKSPARA said:


> up 40% on large volume  and no news. hmmmm. was lookin to pick up a few today @ 15cents lol. Missed the boat again.




No news indeed...

- Extract selling out, 25mill left (probably all done now though).
- Australian Small Cap Investor backed MEO in their monthly report out today
- A number of substantial companies have expressed interest in checking out technical data for WA-350-P farm-out


----------



## Trader Paul

*Re: MEO - Methanol Australia*

                                                                 Posted 21062009

Hi folks,

MEO ... lifted off its recent lows on Friday, with good supporting
volume ..... as requested, here’s our astroanalysis, over coming months:

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ..... a very positive spotlight on MEO 

06-07072009 ..... significant and positive news expected here.

10-13072009 ..... minor cycle

20-21072009 ..... 3 minor and positive time cycles in play

     29072009 ..... minor cycle

06-07082009 ..... 2 significant time cycles, should also bring
                            some positive news, as well.

28-31082009 ..... minor and positive spotlight on MEO

     01092009 ..... significant and negative time cycle ... finance-related ???

     05092009 ..... short and aggressive rally expected here.

     07092009 ..... significant and negative news expected here.

25-28092009 ..... minor and positive cycle ... finance-related ... ???

29-30092009 ..... negative spotlight on MEO

     14102009 ..... significant and negative news expected here.

     20102009 ..... another significant and negative time cycle

 29-30102009 ..... 2 time cycles and positive spotlight on MEO

     02112009 ..... significant an positive news expected here

    13112009  ..... another positive cycle ... finance-related ... ???

    20112009 ..... minor cycle

27-30112009 ... minor cycle

     07122009 ..... minor cycle

     10122009 ..... significant and negative news expected ... ???

28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.

Updated MEO chart, attached below.

More later.

happy trading

paul

 

=====


----------



## Big lance

*Re: MEO - Methanol Australia*

hmm, very interesting.
has anyone got a cppy of the australian small cap research?
lets hope we get another run today, to recoup some of the losses!!


----------



## bigdog

*Re: MEO - Methanol Australia*

The MEO SP today is looking great +26.19%
Already 37% of Friday's total volume in the first 50 minutes!!!!
-- Friday was a VG day also!!

MEO  0.265 +0.055  +26.19%  high of 0.265 16,200,390 shares $3,936,608 @ 22-Jun 10:52:51 AM 

Date.......	Close	Volume
19-Jun-.09	0.210	43,345,596
18-Jun-09	0.150	1,156,434
17-Jun-09	0.150	5,077,087
16-Jun-09	0.155	2,977,168
15-Jun-09	0.155	8,376,741
12-Jun-09	0.170	7,244,646
11-Jun-09	0.160	24,100,624
10-Jun-09	0.175	26,677,329
09-Jun-09	0.165	17,403,082
05-Jun-09	0.140	4,642,425

563


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Posted 21062009
> 
> Hi folks,
> 
> MEO ... lifted off its recent lows on Friday, with good supporting
> volume ..... as requested, here’s our astroanalysis, over coming months:
> 
> 12-15062009 ..... minor and positive cycle
> 
> 19-22062009 ..... minor time cycle
> 
> 26-29062009 ..... a very positive spotlight on MEO
> 
> 06-07072009 ..... significant and positive news expected here.
> 
> 10-13072009 ..... minor cycle
> 
> 20-21072009 ..... 3 minor and positive time cycles in play
> 
> 29072009 ..... minor cycle
> 
> 06-07082009 ..... 2 significant time cycles, should also bring
> some positive news, as well.
> 
> 28-31082009 ..... minor and positive spotlight on MEO
> 
> 01092009 ..... significant and negative time cycle ... finance-related ???
> 
> 05092009 ..... short and aggressive rally expected here.
> 
> 07092009 ..... significant and negative news expected here.
> 
> 25-28092009 ..... minor and positive cycle ... finance-related ... ???
> 
> 29-30092009 ..... negative spotlight on MEO
> 
> 14102009 ..... significant and negative news expected here.
> 
> 20102009 ..... another significant and negative time cycle
> 
> 29-30102009 ..... 2 time cycles and positive spotlight on MEO
> 
> 02112009 ..... significant an positive news expected here
> 
> 13112009  ..... another positive cycle ... finance-related ... ???
> 
> 20112009 ..... minor cycle
> 
> 27-30112009 ... minor cycle
> 
> 07122009 ..... minor cycle
> 
> 10122009 ..... significant and negative news expected ... ???
> 
> 28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.
> 
> Updated MEO chart, attached below.
> 
> More later.
> 
> happy trading
> 
> paul
> 
> 
> =====






Hi folks,

Again today, MEO confirmed our astroanalysis, by trading to the 
script above, with a timely lift of more than 11% and good
supporting volume, ahead of significant and positive news, 
expected early next week ..... 

happy trading

   paul



=====


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN
30-06-2009 09:07 AM  MEO  Artemis 3D 30 June 2009  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00964619

MEO Australia Limited ABN 43 066 447 952 Tel: (+61 3) 9614 0430 Level 17 Fax: (+61 3) 9614 0660 500 Collins Street Email: admin@meoaustralia.com.au Melbourne Victoria 3000 Australia Website: www.meoaustralia.com.au 

ASX AND MEDIA RELEASE 
*Artemis 3D marine seismic survey processing completed on schedule *
Key Points: 

Processing of the Artemis 3D marine seismic survey has been completed on schedule 

Survey is critical to de-risking the ~9.5 Tcf (gas-in-place) Artemis prospect ahead of drilling 

MELBOURNE, AUSTRALIA (June 30th, 2009) -- MEO Australia Limited (ASX: MEO) has been advised by Petroleum Geo-Services Australia Pty Ltd (PGS) that processing of the 250 km² Artemis 3D seismic in WA-360-P (MEO: 70%, Operator), offshore Carnarvon Basin Western Australia has been completed on schedule and the dataset is expected in house today. 

The survey was acquired in March 2009 to help delineate the northern extent of the Artemis prospect identified on MEO’s existing 2007 3D seismic survey, in preparation for the drilling of an exploration well, currently scheduled for 2010. Interpretation of the Artemis 3D seismic survey is a critical component of de-risking the Artemis prospect ahead of this drilling commitment. 

MEO launched a formal farm-out process in late April to attract a partner to fund the exploration well. The company has advised prospective parties that indicative farm-in offers are due by 31st July 2009. 

WA-360-P participants................................................................ Equity 
North West Shelf Exploration Pty Ltd (MEO subsidiary, Operator) 70% 
Cue Energy Resources Limited (ASX: CUE) 	15% 
Gascorp Australia Pty Ltd (Unlisted) 	15%


----------



## bigdog

*Re: MEO - Methanol Australia*

15-07-2009 02:19 PM 	MEO 	Artemis 3D Seismic - Preliminary Findings 

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00968902


Artemis 3D seismic – preliminary findings 
*Key Points: *

The new 250 km² Artemis 3D seismic survey was delivered on schedule in early July 

Preliminary findings confirm Artemis prospect as an attractive drilling target 

Artemis gas-in-place likely to increase from previous estimate of ~9.5 Tcf on permit 

New data now available to prospective farm-in parties 

Extension of 31st July deadline for indicative offers under consideration


----------



## Stpt

The recent development of the bullish ascending triangle pattern is a reflection of the recent bullish sentiments expressed by the company in its lastest announcements. A speccy to watch.


----------



## eddyeagle

*Re: MEO - Methanol Australia*

MEO is absolutely flying at the moment. Up over 12% yesterday. 

I wonder if this has something to do with the recommendation from the Australian Small Cap Investigator? 

Anyone got any thoughts?


----------



## pops11

*Re: MEO - Methanol Australia*

Most likely the Data room extension for a farm in or out hope its not a pump and dump, just remember last day for data room is August 14th so abit of time yet bedore the goods news. Good luck all.

This share has risen 157% in 7 weeks looks good to me DYOR please.


----------



## bigdog

*Re: MEO - Methanol Australia*

MEO posted ASX ANN today
23/07/2009    *Investor Update July 2009 * 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00970759

Originally Posted by Trader Paul  
Posted 21062009

Hi folks,

MEO ... lifted off its recent lows on Friday, with good supporting
volume ..... as requested, here’s our astroanalysis, over coming months:

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ..... a very positive spotlight on MEO 

06-07072009 ..... significant and positive news expected here.

10-13072009 ..... minor cycle

*20-21072009 ..... 3 minor and positive time cycles in play
-- the MEO SP has increased significantly over past week
-- MEO is up 9 cents today to $0.445
-- 22 million shares traded at 10:55 AM
-- WOW*

29072009 ..... minor cycle

06-07082009 ..... 2 significant time cycles, should also bring
some positive news, as well.

28-31082009 ..... minor and positive spotlight on MEO

01092009 ..... significant and negative time cycle ... finance-related ???

05092009 ..... short and aggressive rally expected here.

07092009 ..... significant and negative news expected here.

25-28092009 ..... minor and positive cycle ... finance-related ... ???

29-30092009 ..... negative spotlight on MEO

14102009 ..... significant and negative news expected here.

20102009 ..... another significant and negative time cycle

29-30102009 ..... 2 time cycles and positive spotlight on MEO

02112009 ..... significant an positive news expected here

13112009 ..... another positive cycle ... finance-related ... ???

20112009 ..... minor cycle

27-30112009 ... minor cycle

07122009 ..... minor cycle

10122009 ..... significant and negative news expected ... ???

28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.


----------



## eddyeagle

*Re: MEO - Methanol Australia*

Another massive jump today! I got in on Tuesday and i'm up around 35% in two days! I'm surprised this one hasnt received an ASX speeding ticket!


----------



## Annwn

*Re: MEO - Methanol Australia*

formed a pennant of sorts, usually represent a brief pause after a big quick move, has now broken out on strong Vol, should continue in the same direction.


Cheers


----------



## bigdog

*Re: MEO - Methanol Australia*

The MEO share price is excellent today currently at 57 cents with high of 58.5 cents at 2:03 PM

Volume is 42 million

No sopeeding ticket issued yet!!

*Trader Paul forecasts:- 2 significant time cycles, should also bring some positive news, as well*

*Originally Posted by Trader Paul 
Posted 21062009*

Hi folks,

MEO ... lifted off its recent lows on Friday, with good supporting
volume ..... as requested, here’s our astroanalysis, over coming months:

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ..... a very positive spotlight on MEO 

06-07072009 ..... significant and positive news expected here.

10-13072009 ..... minor cycle

20-21072009 ..... 3 minor and positive time cycles in play
-- the MEO SP has increased significantly over past week

29072009 ..... minor cycle

*06-07082009 ..... 2 significant time cycles, should also bring
some positive news, as well.*

28-31082009 ..... minor and positive spotlight on MEO

01092009 ..... significant and negative time cycle ... finance-related ???

05092009 ..... short and aggressive rally expected here.

07092009 ..... significant and negative news expected here.

25-28092009 ..... minor and positive cycle ... finance-related ... ???

29-30092009 ..... negative spotlight on MEO

14102009 ..... significant and negative news expected here.

20102009 ..... another significant and negative time cycle

29-30102009 ..... 2 time cycles and positive spotlight on MEO

02112009 ..... significant an positive news expected here

13112009 ..... another positive cycle ... finance-related ... ???

20112009 ..... minor cycle

27-30112009 ... minor cycle

07122009 ..... minor cycle

10122009 ..... significant and negative news expected ... ???

28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.


----------



## bigdog

*Re: MEO - Methanol Australia*

MEO  0.49 +0.025  +5.38%  high of 0.495 6,299,893 shares $3,059,960 @ 07-Aug 10:33:04 AM 

*Perhaps the recent increased level of activity in MEO can be related to the SMH article reported today!!!*
Date.......  Close Volume 		
06-Aug-09	 0.465 	26,783,237
05-Aug-09	 0.455 	27,006,467
04-Aug-09	 0.485 	55,835,165
03-Aug-09	 0.570 	54,152,587
31-Jul-09	 0.450 	18,804,302
30-Jul-09	 0.415 	4,758,778
29-Jul-09	 0.420 	8,393,133
28-Jul-09	 0.420 	10,740,717
27-Jul-09	 0.435 	17,012,385
24-Jul-09	 0.405 	45,978,737
23-Jul-09	 0.420 	43,868,078
22-Jul-09	 0.355 	31,080,529
21-Jul-09	 0.315 	20,250,745
20-Jul-09	 0.285 	11,069,602
17-Jul-09	 0.250 	2,052,151


http://business.smh.com.au/business...d-in-kirin-details-20090806-ebhb.html?page=-1

XCHANGE
August 7, 2009 

*MEO in the middle*

The race between Woodside Petroleum and Chevron for control of third-party gas for their respective Pluto-2 and Wheatstone liquefied natural gas projects has proven a boon for the relative tiddler MEO Australia.

MEO owns 70 per cent of the WA-360P permit, where its Artemis prospect is about the same distance from Woodside's Pluto processing plant as the Pluto gas field itself and is believed to be an extension of the Greater Wheatstone structure.

There is the potential for 9.5 trillion cubic feet of gas at Artemis, which would be enough for at least two LNG trains.

MEO has sought to farm out a 50 per cent stake in its permit in return for the recovery of $US8 million of costs to date and the funding of its share of a $US30 million exploration well and two more appraisal wells if gas is struck at the first well.

That is the minimum ask in the sales process being run in-house by MEO with help from some outside legal advisers, but it may take more to win the race in light of the hot competition to date. The data room closes on August 14, with 12 big oil companies already having passed through. The winner will be chosen by the end of next month.

MEO would presumably prefer to commercialise the gas as soon as possible. But the first well is not expected to be completed until October next year, which would be later than Woodside would prefer if it was to provide gas for a second train at Pluto.

Nevertheless, Goldman Sachs JBWere said the MEO farm-in would provide "an attractive risk/reward opportunity" for Woodside.

Woodside and Chevron have been talking to Apache and Hess about buying third-party gas, but no deal has been reached.

GSJBW said Woodside might relax its demands in the coming weeks because the deadline to roll over the construction crew from the first train at Pluto was approaching rapidly.

MEO shares closed 1c higher at 46.5c yesterday, compared with 25c in mid-July.


----------



## pursuitute

*Re: MEO - Methanol Australia*

Volatile much?  In the past 10 days MEO has gone up 50%, down 30% and back up close to 8% at present.  Hanging out for an ann atm.


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX ANN
14-08-2009 09:39 AM  MEO  East Artemis pre-drill resource estimate upgraded  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00977433

*Key Points: *
Previously published gas-in-place estimates of 9.5 Tcf (within WA-360-P) materially upgraded 

Mean gas-in-place for Calypso sands estimated at 10.8 Tcf (6.4 Tcf @ 60% Recovery Factor) 

Mean gas-in-place for Legendre sands estimated at 9.5 Tcf (5.6 Tcf @ 60% Recovery Factor) 

New biostratigraphic data from Zeus-1 indicates increased reservoir thickness 

Newly acquired Artemis 3D seismic data indicates increased areal extent of Artemis prospect 

WA-360-P data room closing to new entrants 5pm EST, August 14th 2009, indicative offers expected by 31st August and farm-out expected to be concluded by 30th September


MEO Australia Limited (ASX: MEO) advises that updated seismic interpretation and pre-drill resource estimates based on the Artemis 3D seismic data received early July, have now been sent to the 20 parties that remain in the WA-360-P farmout process. The data room closes to new entrants at 5pm today (Melbourne time). MEO has requested indicative offers from these parties by 31st August and remains confident that a transaction will be concluded by 30th September.

The market today has not got excited about the ANN!!!
MEO  0.555 0.000  0.00%  high of 0.58 low of 0.55 8,679,668 shares $4,916,123 @ 14-Aug 10:55:05 AM

798


----------



## pursuitute

*Re: MEO - Methanol Australia*



bigdog said:


> The market today has not got excited about the ANN!!!



I think a lot of punters would have been scared away by the 68% chance of it failing.  I also think a lot of people have realised that the main ann will be 8-9 weeks away and have decided to bail until closer to the date.

Based on MEO's numbers, that's just chucked another ~$600m on to the saleable qty.  Funny though isn't it, better than 80% more recoverable gas identified and the SP wipes off 5-6%.


----------



## shoe crew

*Re: MEO - Methanol Australia*

Waiting for another month on a Farm in Partner who could be drilling before the year is out...
I prefer to wait until early next year so they make sure they dont make any mistakes in the lead up to Artemis drill...


----------



## bigdog

*Re: MEO - Methanol Australia*

http://www.energycurrent.com/index.php?id=3&storyid=20153

*MEO selects TORP technology for Timor Sea project*
8/21/2009 7:20:08 PM GMT

HOUSTON: MEO Australia Ltd. has selected TORP LNG's HiLoad technology as its preferred method for loading of the liquefied natural gas (LNG) carriers for its proposed Timor Sea LNG project.

The HiLoad unit will be employed with a single point mooring system, providing higher load out availability compared with a conventional jetty system. The HiLoad technology avoids close vessel approaches and the use of tugs.

The TORP HiLoad LNG loading system locates against the side of the LNG vessel at the normal loading point and loads via conventional articulated arms, so standard LNG carriers can be used. While the system has yet to be used for LNG, it is planned for several other projects and is expected to be utilized before a final investment decision (FID) is reached for MEO's proposed project.

The Timor Sea LNG project involves a 3-million-tonne (3.3-million-ton) per year LNG module on a self installing platform, a conventional steel LNG tank with concrete secondary containment on a concrete gravity based structure and an LNG loadout system. 

Environmental Approvals for this project have been secured as an extension to MEO's proposed Tassie Shoal methanol project, which involves the installation of two 1.75-million-tonne (1.9-million-ton) per annum methanol plants on concrete GBS's to process high carbon dioxide content gas in the region.

These gas processing projects will be located on Tassie Shoal, in the shallow waters offshore Australia's Northern Territory. The projects constitute a gas processing hub, which will lower the economic threshold for development of about 25 Tcf of undeveloped gas in the region.


----------



## bigdog

*Re: MEO - Methanol Australia*

*MEO SP up 2.5 cents to close at 58.5 cents *

01/09/2009    *WA-360-P Farm-out Progress Report * 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00984093

ASX AND MEDIA RELEASE
*WA-360-P Farm-out Progress Report*

*Key Points:*• Timeframe for submission of indicative offers has now closed
• Process to complete binding transaction by 30th September remains on track

MELBOURNE, AUSTRALIA (September 1st, 2009) - MEO advises that the period in which to submit indicative offers to farm-in to the Company’s WA-360-P permit has now closed. Indicative offers are being evaluated ahead of entering into further negotiations aimed at reaching a binding agreement. The Company remains on track to complete a farm-in transaction by 30th September as previously advised.


----------



## pops11

*Re: MEO - Methanol Australia*

I put MEO on my watch list baseline 14 weeks ago @ 14c its up 367.9% since then can you believe i dont hold any DAH......alot of after hours buys today with no ANN but with that much buying plus SP up next day or so could suggest its about to release info on Farm Out.

This is the one to watch id say.

As always DYOR


----------



## bigdog

*Re: MEO - Methanol Australia*



pops11 said:


> Ialot of after hours buys today with no ANN but with that much buying plus SP up next day or so could suggest its about to release info on Farm Out.
> 
> This is the one to watch id say.
> 
> As always DYOR




Spot on pops; 
1,009,345 shares $ 661,121 during the normal close!
-- then again total volume for the day was 27,234,196 shares

watch MEO

Today: 08-Sep-2009			
Time……..	 Price 	Volume	Value
16:10:44	 0.655 	29,159	19,099
16:10:44	 0.655 	30,000	19,650
16:10:44	 0.655 	10,000	6,550
16:10:44	 0.655 	60,000	39,300
16:10:44	 0.655 	36,000	23,580
16:10:44	 0.655 	15,000	9,825
16:10:44	 0.655 	20,000	13,100
16:10:44	 0.655 	45,454	29,772
16:10:44	 0.655 	7,432	4,868
16:10:44	 0.655 	4,568	2,992
16:10:44	 0.655 	6,000	3,930
16:10:44	 0.655 	5,000	3,275
16:10:44	 0.655 	20,000	13,100
16:10:44	 0.655 	36,932	24,190
16:10:44	 0.655 	23,068	15,110
16:10:44	 0.655 	6,932	4,540
16:10:44	 0.655 	7,800	5,109
16:10:44	 0.655 	5,000	3,275
16:10:44	 0.655 	100,000	65,500
16:10:44	 0.655 	80,268	52,576
16:10:44	 0.655 	69,732	45,674
16:10:44	 0.655 	100,000	65,500
16:10:44	 0.655 	40,000	26,200
16:10:44	 0.655 	25,000	16,375
16:10:44	 0.655 	5,000	3,275
16:10:44	 0.655 	10,268	6,726
16:10:44	 0.655 	4,000	2,620
16:10:44	 0.655 	800	524
16:10:44	 0.655 	4,932	3,230
16:10:44	 0.655 	20,000	13,100
16:10:44	 0.655 	15,000	9,825
16:10:44	 0.655 	25,000	16,375
16:10:44	 0.655 	60,000	39,300
16:10:44	 0.655 	25,068	16,420
16:10:44	 0.655 	932	610
16:10:44	 0.655 	20,000	13,100
16:10:44	 0.655 	5,000	3,275
16:10:44	 0.655 	6,068	3,975
16:10:44	 0.655 	3,900	2,555
16:10:44	 0.655 	20,000	13,100
16:10:44	 0.655 	32	21
-----------------------------------
15:59:59	 0.655 	981	643


----------



## johannlo

*Re: MEO - Methanol Australia*

Only one way the SP to go if the farm out is successful and with a big partner. 

All indications are positive so far and news is just round the corner... 

If you believe some of the valuations flying around (I've heard say 1.17 risked for Artemis alone) then its a no brainer as long as you get in before the announcement.

As always DYOR esp when companies issue valuations lol


----------



## pursuitute

*Re: MEO - Methanol Australia*

IMO, significant news is atleast a week away, more likely 2-3 weeks.  Beware MEO tomorrow, historically it will rally early after a strong day then go through a big sell down.  65c was a big milestone today, maybe it'll get into 68c in the morning before finding support ~60c.

Stuffed if I know


----------



## pops11

*Re: MEO - Methanol Australia*

ANN due by 30th September and yes 2-3 weeks is right but it could be anytime i will take on board the price rise and drop tho, good luck to holders i myself will be in next week as i feel a retrace is on the cards as some holders might get nervous.


----------



## bigdog

*Re: MEO - Methanol Australia*

*We must be due for another update from Trader Paul for MEO!!!!*

*Originally Posted by Trader Paul 
Posted 21062009*

Hi folks,

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ..... a very positive spotlight on MEO 

06-07072009 ..... significant and positive news expected here.

10-13072009 ..... minor cycle

20-21072009 ..... 3 minor and positive time cycles in play
-- the MEO SP has increased significantly over past week

29072009 ..... minor cycle

06-07082009 ..... 2 significant time cycles, should also bring
some positive news, as well.

28-31082009 ..... minor and positive spotlight on MEO

01092009 ..... significant and negative time cycle ... finance-related ???

*05092009 ..... short and aggressive rally expected here.

07092009 ..... significant and negative news expected here.

25-28092009 ..... minor and positive cycle ... finance-related ... ???*

29-30092009 ..... negative spotlight on MEO

14102009 ..... significant and negative news expected here.

20102009 ..... another significant and negative time cycle

29-30102009 ..... 2 time cycles and positive spotlight on MEO

02112009 ..... significant an positive news expected here

13112009 ..... another positive cycle ... finance-related ... ???

20112009 ..... minor cycle

27-30112009 ... minor cycle

07122009 ..... minor cycle

10122009 ..... significant and negative news expected ... ???

28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.


----------



## swm79

*Re: MEO - Methanol Australia*

no talk on here for a while - has everyone jumped???

has been going REALLY well over the last three days - everyone's gearing up for the farm-in partner ann!

great stuff!

wished i had have jumped aboard when i first put them on th watchlist back at 10c.... 

nice pres re tassie shoal - impressive work to get it off the ground. 

could this be another KAR?

DYOR!

Happily holding


----------



## Riddick

*Re: MEO - Methanol Australia*



swm79 said:


> no talk on here for a while - has everyone jumped???
> 
> has been going REALLY well over the last three days - everyone's gearing up for the farm-in partner ann!
> 
> great stuff!
> 
> wished i had have jumped aboard when i first put them on th watchlist back at 10c....
> 
> nice pres re tassie shoal - impressive work to get it off the ground.
> 
> could this be another KAR?
> 
> DYOR!
> 
> 
> Happily holding






Been following this thread for a while. got an entry signal at 40, taken it up to 80. looking for my exit signal. last week has seen some pretty big movement. everyone who i know currently holding stock have certainly not bailed but are definitely looking closely at their positions.


----------



## swm79

*Re: MEO - Methanol Australia*



Riddick said:


> Been following this thread for a while. got an entry signal at 40, taken it up to 80. looking for my exit signal. last week has seen some pretty big movement. everyone who i know currently holding stock have certainly not bailed but are definitely looking closely at their positions.




i dont know when i'll be exiting... dont think for a while yet.

should be a jump when they announce the farm-in partner (apparently before the end of the month)


----------



## eddyeagle

*Re: MEO - Methanol Australia*

I'm still in - have been in since 30 cents and topped up at 60c. It's flying!

Their latest presentation on Tassie Shoal looked good. 

I set a trailing stop loss though. I'm a little concerned about how fast the market has been rising so want to make sure i get some decent profits if things do turn ugly quickly.


----------



## bigdog

*Re: MEO - Methanol Australia*

*SP MEO  0.665 -0.085  -11.33%  high of 0.725 low of 0.63 13,311,666 shares $8,983,557 @ 25-Sep 11:43:24 AM *

ASX ANN
25-09-2009 11:25 AM  MEO  WA-360-P Farmout Progress Report 25 September 2009  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00991682

*WA-360-P Farm-out Progress Report*

*Key Points:* 
● Negotiations with potential farminees expected to be concluded during October.

 MELBOURNE, AUSTRALIA (September 25th, 2009) MEO Australia Limited (ASX: MEO) provides the following update in relation to its farm-out of part of its interest in the WA-360-P Exploration Permit.

All parties involved in the farm-out process have acknowledged the extremely tight timing expectations MEO placed on the process and have worked diligently to endeavour to conclude arrangements within the specified timeframes. While considerable progress has been made to date, these negotiations remain incomplete and are now expected to be concluded during October.


----------



## swm79

*Re: MEO - Methanol Australia*

notice all the BESBS players dumping today - price back to where it was before they all started jumping on a few days ago.


----------



## eddyeagle

*Re: MEO - Methanol Australia*

MEO has been smashed in the space of 3 sessions! I was stopped out today at 59 cents! Will look to get back in at some stage when it finds a bit of support!


----------



## swm79

*Re: MEO - Methanol Australia*



eddyeagle said:


> MEO has been smashed in the space of 3 sessions! I was stopped out today at 59 cents! Will look to get back in at some stage when it finds a bit of support!




and it tracked even lower - i think it got down at 0.575 at one stage.

like i said before all the "announcement players" getting out because they put off the farm-in announcement for another few weeks.

it has support around 60c (where it closed yest), so your stop loss was a bit high in my books.


----------



## radioham6

*Re: MEO - Methanol Australia*



swm79 said:


> notice all the BESBS players dumping today - price back to where it was before they all started jumping on a few days ago.




My very first post.......

Yes MEO looks strong. 

I'm still hanging in and happy to do so for a while yet since the trend looks so promising.

I'm with you SWM79, Oct should be a good month for MEO

Cheers.


----------



## swm79

*Re: MEO - Methanol Australia*

here's a nice little chart with some lines etc on it.

While there are some bearish indicators i.e. MACD crossover is bearish... given the fact that there is some (hopefully good) news on the way in relation to the farm-in partner i'm happy to keep holding.... if i had some available cash i'd be buying more (when the signals told me to) in the next few days before the "announcement players" came back in hard... last time we saw them push it it up over 80c... i'd suggest this would happen again the closer we get to the farm-in announcement.... then we'd see it break through, possibly over the $1 mark IMO


----------



## swm79

*Re: MEO - Methanol Australia*

meo on another nice little run up again today - forming up for my H&S above - the old announcement players seem to be creeping back in... perfect.

shouldnt be long before we get the farm-in announcement - one or two weeks apparently

as Jens Voigt once said "life is great"

well... at the moment.... fingers crossed... no jinxes


----------



## swm79

*Re: MEO - Methanol Australia*

got absolutely KILLED out there today.... BELOW 50c at one stage!!!!

on no announcement 

i think it can only be people getting nervous about the farm-in... i can only hope so - topped up at 53c today!!!


----------



## satanoperca

*Re: MEO - Methanol Australia*

Not pretty, topped up @ 52. @ one stage a fall of 20%. Got the heart pumping.

Was an announcement at 11.00 am.


----------



## swm79

*Re: MEO - Methanol Australia*



satanoperca said:


> Not pretty, topped up @ 52. @ one stage a fall of 20%. Got the heart pumping.
> 
> Was an announcement at 11.00 am.




ann was just an amendment to a previous announcement... no new news

i suspect a lot of stop losses were triggered and thats why it got absolutely SMASHED - means lots of NEW holders, not oldies.


----------



## TheAbyss

*Re: MEO - Methanol Australia*



swm79 said:


> ann was just an amendment to a previous announcement... no new news
> 
> i suspect a lot of stop losses were triggered and thats why it got absolutely SMASHED - means lots of NEW holders, not oldies.




The fall would have been because Clive Palmer is a major holder (not sure of % held) and had to be rushed to hospital last night with possible heart issues.

http://www.theaustralian.news.com.au/business/story/0,28124,26196392-5005200,00.html

That would have triggered the fall and then the stops were set off. All that is required for a big bounce back is a statement saying Clive is alive and well and the SP could come back to where it started again pretty quickly.


----------



## berbouy

*Re: MEO - Methanol Australia*

well the news is that clive palmer is in fact alive , well and kicking , and ready to get back to business at hand asap-so hopefully you are right, and the sp will go north again shortly.


----------



## bigdog

*Re: MEO - Methanol Australia*

13-10-2009 09:37 AM  *MEO  Quarterly Activities Report for quarter ending 30 Sept 2009  *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00997718

*Key Points*
• Integrated processed Artemis 3D seismic survey into WA-360-P evaluation
• Upgraded P50 volumetric estimates for Artemis prospect to ~12 Tcf recoverable
• Closed WA-360-P data room August 14th
• Closed farm-in offers on 1st September
• Currently advancing farmin negotiations towards a binding agreement
• Commenced acreage renewal application for NT/P68
• Consolidated cash balance at 30th September A$15.6m

MELBOURNE, AUSTRALIA (13th October, 2009) -- MEO Australia Limited (ASX: MEO) provides the following update in relation to its activities for the quarter ended 30th September 2009.

WA-360-P (MEO 70%, Operator, Cue Energy 15%, Moby Oil & Gas1 15%)
MEO received the processed 250 km² Artemis 3D seismic survey in early July. The new data has provided velocity data to the north of the existing 2007 MEO 3D seismic data which extends the Artemis prospect further to the north. The data, together with new biostratigraphic age dating resulted in the interpretation of a thicker Jurassic reservoir than previously thought.

The combination of these factors has increased the P50 gas-in-place estimate to 20.3 Tcf for the Calypso and Legendre reservoirs. Applying a 60% recovery factor yields an estimated P50 undiscovered gas resource of approximately 12 Tcf.

The newly interpreted data was made available to prospective farm-in partners on 14th July and the data room availability was extended to 14th August to allow companies time to assimilate this new data. MEO asked for indicative offers to be submitted by 30th September.

The tight farm-out timetable was set in order to ensure MEO had secured the funding to trigger the year 5 well obligation in the permit by 31st December 2009.

While all parties have been working diligently towards a 30th September timeframe to close the transaction, as that date approached, it was apparent that negotiations required more detailed dialogue and consequently additional time. MEO advised on 25th September that it expected  negotiations to be concluded during October. Negotiations have advanced since then, and at this stage remain ongoing.

WA-361-P (MEO 35%, Operator, RDI* 35%, Cue Energy 15%, Gas Corp 15%)
MEO submitted its Annual Reports to the regulatory authorities during the quarter.

WA-359-P (MEO 60-70%, Operator, Cue Energy 15-20%, Exoil 15-20%)
MEO submitted its Annual Reports to the regulatory authorities during the quarter.

NT/P68 (MEO 90-100%)
MEO began preparing its acreage renewal application for the permit during the quarter. This renewal will be for 5 years from February 2010 and comprises a 3 year firm commitment and 2 year optional commitment work program. The renewal application will be submitted during the December quarter.

A competitor’s divestment process of their 40% operated interest in the nearby Evans Shoal gas field did not result in a transaction. Consequently, MEO resumed its efforts to engage with the Operator to discuss its ideas for a development hub at Tassie Shoal.

MEO continued discussions with its Joint Venture partner in relation to restructuring the partly earned equity interest.

Approved Gas Processing Projects (MEO 50-90%)
The company held discussions with a number of parties that appreciate the potential value of the Tassie Shoal infrastructure hub concept and understand the economic benefits of methanol sequestration for CO2. These discussions are developing however remain at an early stage.

New venture opportunities 
MEO evaluated a number of New Venture opportunities during the quarter.

Cash balance at end of quarter 
A$15.6m.

Priorities for the quarter ended 31st December-2009
• Complete farm-out process for WA-360-P
• Conclude discussions with Petrofac in relation to restructuring interests in NT/P68 Joint Venture and approved gas processing projects
• Submit acreage renewal application for NT/P68
• Continue discussions with prospective partners for Tassie Shoal gas processing hub
• Seek attractive new venture opportunities to broaden the portfolio

=================================================================
13-10-2009 09:35 AM  MEO  *Quarterly Cashflow Report - quarter ended 30 Sept 2009* 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00997716

Cash at end of quarter $15,612,000


----------



## TheAbyss

*Re: MEO - Methanol Australia*



TheAbyss said:


> The fall would have been because Clive Palmer is a major holder (not sure of % held) and had to be rushed to hospital last night with possible heart issues.
> 
> http://www.theaustralian.news.com.au/business/story/0,28124,26196392-5005200,00.html
> 
> That would have triggered the fall and then the stops were set off. All that is required for a big bounce back is a statement saying Clive is alive and well and the SP could come back to where it started again pretty quickly.




Well the news is that Clive is alive and well so if my theory is correct we should see a healthy lift today. In at .53 this morning for a little while


----------



## bigdog

*Re: MEO - Methanol Australia*



TheAbyss said:


> Well the news is that Clive is alive and well so if my theory is correct we should see a healthy lift today. In at .53 this morning for a little while




Clive was on TV last night reporting that he ate a pie at the soccer
"Unfortunately I think I got too enthusiastic eating pies at half time and got a bit of reflux, or something like that," Mr Palmer told reporters on Monday"

http://au.news.yahoo.com/thewest/bu...07819/qld-mining-magnate-suffers-chest-pains/

*Qld mining magnate suffers chest pains*
AAP October 12, 2009, 4:02 pm Send

Queensland mining magnate and soccer club owner Clive Palmer has vowed he'll be slimmer and healthier next year after checking in to hospital with chest pains.

The minerals mogul was taken ill on Sunday night while watching the A-League football team he owns, Gold Coast United, beat Brisbane Roar 1-0 at Suncorp Stadium in Brisbane.

Mr Palmer was discharged from hospital at noon (AEST) on Monday after receiving the all-clear from his doctors.

"Unfortunately I think I got too enthusiastic eating pies at half time and got a bit of reflux, or something like that," Mr Palmer told reporters on Monday.

"I have lived a very poor lifestyle on the health perspective and that's a very bad thing to do.

"Next year I won't be as heavy as I am. I will have lots more energy and with the help of Wesley Corporate - I will enrol there to make sure I can get myself in far better condition."

He said tests had shown he did not have a heart problem but he had some advice for others who experience a similar episode.

"If you suspect there may be an issue with your health, then get it checked out so you can be sure you're fine or get the problem treated," he said.

"If more people did that, then perhaps there would be fewer deaths from heart conditions.

"The tests I've taken have shown that I do not have a heart problem but I will certainly be ensuring my lifestyle is improved so I can stay healthy in the future."

Mr Palmer will return to the office on Tuesday morning.

"It will be business as usual," he said.

Mr Palmer is one of Australia's wealthiest men, with a recent rich list putting the 55-year-old's worth at $6.23 billion.

He maintains a frenetic schedule, shuttling between his football club, southern Queensland horse stud, extensive mining interests in Queensland and Western Australia and customers in China, while finding time for his wife Anna and three children.

In his younger years, he played rugby league with the Southport Tigers and still holds the club's point-scoring record.


----------



## swm79

*Re: MEO - Methanol Australia*

i'm not so sure it was ALL because of CP... otherwise you would have seen ARH tank at the same time... and it droped only a fraction

i think some holders are getting itchy trigger fingers and a lot of people are getting impatient about the impending ann

i was surprised it tanked as badly as it did

lookes like its trying to climb out of its hole this morning but intra keeps waving up and down up and down.


----------



## Gillie

*Re: MEO - Methanol Australia*



bigdog said:


> =================================================================
> 13-10-2009 09:35 AM  MEO  *Quarterly Cashflow Report - quarter ended 30 Sept 2009*
> http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00997716
> 
> Cash at end of quarter $15,612,000




Not surprising that they have gone through $2m in cash in a quarter. Debt to equity analysis isn't to bad for the quarter.


----------



## Putty7

*Re: MEO - Methanol Australia*

Taking a bit of a bath with Meo lately, noticed this in the Elders thread about it being shorted and Meo is also on the list. With upcoming news regarding the Farm in due soon it does seem like the logical reason the sp is doing so poorly, only my speculation of course.

http://www.asx.com.au/data/shortsell.txt


----------



## oldblue

*Re: MEO - Methanol Australia*



Putty7 said:


> Taking a bit of a bath with Meo lately, noticed this in the Elders thread about it being shorted and Meo is also on the list. With upcoming news regarding the Farm in due soon it does seem like the logical reason the sp is doing so poorly, only my speculation of course.
> 
> http://www.asx.com.au/data/shortsell.txt




I doubt that's the reason.

1.15% of turnover being shorted on Friday is hardly going to move the SP!


----------



## Putty7

*Re: MEO - Methanol Australia*

Yes I do agree Blue but its being dropping in big hits very quickly over the past few weeks like someone has been shorting it, like I say its only my thoughts through watching the stock and I am happy to be corrected, the share seems to have a lot of promise that should be realised in the short term, probably better over the medium to longer term depending on the farm in partner, drilling due around October next year could be moved forward, particularly if Woodside did turn out to be the partner as they would probably be keener on a sooner rather than later drilling program, but that is all speculation on my behalf.


----------



## bigdog

*Re: MEO - Methanol Australia*

The market liked today's ANN
MEO  0.55 +0.045  +8.91% high of 0.565 4,288,369 shares $2,358,075 @ 20-Oct 10:39:55 AM 

ASX ANN
20-10-2009 09:28 AM  MEO  WA-360-P Farm-in Progress Report  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01000125

*ASX & Media Release*

*WA-360-P Farm-in Progress Report*
Key Points:
• Final due diligence meetings scheduled for week commencing 26th October

• Transaction expected to close by MEO’s AGM on 18th November

MELBOURNE, AUSTRALIA (October 20th, 2009) MEO Australia Limited (ASX: MEO) provides the following in relation to its WA-360-P Exploration Permit.

Material progress has been made since the update in our quarterly activities report released on 13th October. MEO has selected its preferred farminee and negotiations are at a very advanced stage. The final stages of what has been a thorough due diligence process are scheduled for the week of October 26th. Meetings to secure the requisite approvals to execute binding agreements have now been scheduled. The parties anticipate being in a position to execute binding agreements ahead of MEO’s AGM to be held on 18th November.

A condition of the farm-in negotiations requires the identity of the preferred farminee together with the terms of the farm-in agreement to remain confidential until these final approvals have been obtained.

MEO thanks shareholders for their patience and understanding during this very important period.


----------



## swm79

*Re: MEO - Methanol Australia*

games games games :headshake:

its been a while since anything has been said about MEO on here but a lot has happened.

we've seen it crash to 49c and then turn back up to settle around 59c-63c until we wait for the announcement of the farm-in partner - deal should be done this week and announcement made anytime before the AGM on 18th Nov... big names are being thrown around as to who it will be - WPL, CVN, Apache, KAR... with WPL being the favourite

EVERY SINGLE MORNING we see trader games being played - the sale side is STACKED at almost 2:1 and the open price is pushed to below 60c with minscule orders and then withdrawn... or sometimes even committed... that tells me traders are trying to scarmonger and push people into offloading their shares... maybe even trying to strike a few stop losses and get a few cheap ones 

However, even during the DOW down days its holding up nicely, which is a real bonus.

interesting times ahead


----------



## swm79

*Re: MEO - Methanol Australia*

anyone holding MEO or looking at holding MEO, today was probably the best chance you're going to get (i HOPE i dont eat my words! :bonk

real tightly traded at the moment. lost 3c with all the doom and gloom around.... and the big USD trade going on at the moment 

caught in a consolidation rectangle with hardly anyone letting go of their holdings.

hopefully the market will hold up enough until the farm-in announcement and who know's where this one will head to?

expect to see the SP hold the 60-61c level (even on down days) until there is any news on the farm-in... any release on the progress will see this jump back to around 70c-80c... with actual farminee news pushing this through to $1.10-$1.30 (on fib)


----------



## skc

*Re: MEO - Methanol Australia*

I know not much about MEO but here's a chart of it. I put on the dotted line about 2 weeks ago on another thread. It's funny how randomly drawn lines on my chart guides my perception of the stock.

https://www.aussiestockforums.com/forums/showpost.php?p=499117&postcount=87





Could a miracle be unfolding?


----------



## swm79

*Re: MEO - Methanol Australia*

not too sure about your "random lines" on your chart there brother 

it indicates the Nov farm-in partner announcement will be a bad one?

lets have a look at a 3 year weekly and remember where this once was in the not too distant past.

if the farminee is WPL (who all the rumours are predicting) i'd say we'd be seeing old highs returning


----------



## Putty7

*Re: MEO - Methanol Australia*

Hi SWM, Im not holding at the moment, sold my MEO out on the last announcement after they started to slip again, sold the lot out at .62c as they came down, I agree with the games, games, games lol, waiting for LKO to do its thing whichever way that goes then will look to MEO again or maybe INP depending on the price, the morningstar note a few days ago said something about WPL stopping talks with Apache (I think it was, havent got the email now so DYOR) about gas contracts, like you I think Woodside are keen but I dont think we will hear about it until the 18th, whoever the farm in partner is would be a great time for them to pick up some cheap MEO and pay for part of the farm in on the rise, similar in method to Beach playing with Drillsearch a little while back, good way to generate cash. Just my opinions of course.


----------



## swm79

*Re: MEO - Methanol Australia*



Putty7 said:


> Hi SWM, Im not holding at the moment, sold my MEO out on the last announcement after they started to slip again, sold the lot out at .62c as they came down, I agree with the games, games, games lol, waiting for LKO to do its thing whichever way that goes then will look to MEO again or maybe INP depending on the price, the morningstar note a few days ago said something about WPL stopping talks with Apache (I think it was, havent got the email now so DYOR) about gas contracts, like you I think Woodside are keen but I dont think we will hear about it until the 18th, whoever the farm in partner is would be a great time for them to pick up some cheap MEO and pay for part of the farm in on the rise, similar in method to Beach playing with Drillsearch a little while back, good way to generate cash. Just my opinions of course.




yeah Apache decided to supply CVN their gas for Wheatstone

because WPL wants 2 or 3 trains in there tehy'll now have to either prove more up at Pluto or go to third parties 



> "‘More Expensive’
> 
> Woodside “appears to need” Apache’s gas more than Chevron, Greenwood wrote in his note to clients. “Clearly, Woodside must have an alternative in mind, and we keenly await progress to understand why it has forgone this opportunity,” he said.
> 
> A development relying on Hess gas discoveries about 175 kilometers (109 miles) from the Pluto project would be “a lot more expensive” compared with one using Apache’s gas, which is about 20 kilometers away, he said. Woodside does have exploration targets nearby, but they are small and unlikely to underpin an expansion, he said. "




if you have a look at this report from two days ago http://www.bloomberg.com/apps/news?pid=20601081&sid=aXhlRXif_.wI

and there is a lot of stuff heating up and a lot of games being played now


----------



## Putty7

*Re: MEO - Methanol Australia*

Definately a bit of cat and mouse going on up there at the moment with a lot of them in the same area, I guess time will tell the result but I think around the middle through to the end of September MEO will be very strong, being able to get back in at the right price is the only worry I have at the moment with regards to MEO and the level of commitment is dependant on where Lakes end up.


----------



## swm79

*Re: MEO - Methanol Australia*



Putty7 said:


> Definately a bit of cat and mouse going on up there at the moment with a lot of them in the same area, I guess time will tell the result but I think around the middle through to the end of September MEO will be very strong, being able to get back in at the right price is the only worry I have at the moment with regards to MEO and the level of commitment is dependant on where Lakes end up.




your problem is that MEO could go into trading halt and announce at any time. then again, same thing could happen with LKO... MEO hasn't advised that they WILL announce on 18 Nov - it could be any date BEFORE that... but the full details of the deal will be released at the AGM


----------



## Putty7

*Re: MEO - Methanol Australia*

Yes its abit unfortunate that Lakes have taken so long to get organised I was planning to be out of them by now, I do like MEOs prospects but like you say if I can't get back in then there isn't much I can do about that at the moment as I have decided even though it's a risk to see Lakes through to a result, if I miss the high 50's and 60's as it rises will probably look to INP as an alternative or OEX depending on SP strength, both of these also have good prospects but with MEO looking to be the first cab off the rank would prefer to get back in there.


----------



## swm79

*Re: MEO - Methanol Australia*



swm79 said:


> anyone holding MEO or looking at holding MEO, today was probably the best chance you're going to get (i HOPE i dont eat my words! :bonk
> 
> real tightly traded at the moment. lost 3c with all the doom and gloom around.... and the big USD trade going on at the moment
> 
> caught in a consolidation rectangle with hardly anyone letting go of their holdings.
> 
> hopefully the market will hold up enough until the farm-in announcement and who know's where this one will head to?
> 
> expect to see the SP hold the 60-61c level (even on down days) until there is any news on the farm-in... any release on the progress will see this jump back to around 70c-80c... with actual farminee news pushing this through to $1.10-$1.30 (on fib)




hahaha what the hell was i talking about?!?!?!  

i hate the DOW and the AUD at the moment... come back you b@$#3ds!!!!!

i'm sure this is all to do with tree shakers and scarmongers trying to pick up some loose nuts... more people trying to tick peoples stops than anything else i'd say... trader games

farminee announcement to be made before the AGM on 18 Nov... my best guess would be early next week... might be put into trading halt just before the announcemnt

still very confident thid will do well, just a matter of waiting it out and holding on tight for the roller ride over the next two weeks or so.


----------



## Putty7

*Re: MEO - Methanol Australia*

Hopefully SWM you have November stock tipping sown up, got out of Lakes this morning for a slight profit and back into 120,000 MEO at .53c, I honestly didn't think I would pick these up again at this price within 2 or 3 weeks, figured around .55c might cut them out, still may not have bottomed out but quite happy where I bought. Lets hope someone fuels this rocket soon.


----------



## swm79

*Re: MEO - Methanol Australia*



Putty7 said:


> Hopefully SWM you have November stock tipping sown up, got out of Lakes this morning for a slight profit and back into 120,000 MEO at .53c, I honestly didn't think I would pick these up again at this price within 2 or 3 weeks, figured around .55c might cut them out, still may not have bottomed out but quite happy where I bought. Lets hope someone fuels this rocket soon.




well played Putty 

yeah i hope so too! been waiting for a while for this one to come off. hopefully it makes all the waiting worth while 

if i'd been smarter (read as more courageous) i would be buying and selling the last few weeks based on 2/5 SMAs but i'm always scared that i'd miss the boat again.... like i have SO many times before!!!

lots of support around the 50-54c area for MEO... tree shakers are stacking the sell side CONTINUALLY trying mop up thousands of shares. 

same things's happening over at NWE...


----------



## Putty7

*Re: MEO - Methanol Australia*

Same thing happening with LKO and INP i think, the short selling ban earlier in the year made for a good market with a lot more positive movement and a lot less games, had some NWE earlier in the year and made a quick in and out profit on them, they look good, will look to them and maybe EGO when MEO do there thing, not sure if it was well played or dumb luck on my behalf, my read on MEO was good I think, the LKO read not so good but they may do better yet, hopefully Woodside will be footing the bill for my next party, fingers crossed.


----------



## swm79

*Re: MEO - Methanol Australia*

got to as high as 58.5c this morning, now back down to 56c... once the manipulators spotted it flying they decided to jump in and put an end to the party... should end higher today - DOW up 200, AUD up 2c really helped this one turn around... gap down yest and then a gap up this morning and a very very short term triple bottom with some major congestion around where its trading at the moment.

all good signs.

just need an update or an announcement.... if it doesnt come today i'd be surprised if it didnt come early nxt week (possibly monday)


----------



## jarl

*Re: MEO - Methanol Australia*

I have been waiting for this report to come out, diligently however I still think that it will surface the week comencing 10th and perhaps towards the end of that week. It makes sence to bring out the good news as close to the GM - sort of to start the GM in a very good note as shares will be much -much higher. In the mean time let the big boys play the game - I am sitting in for the long hawl at 53cents.


----------



## Putty7

*Re: MEO - Methanol Australia*

After the Dows result Friday night it will be interesting to see where MEO go tomorrow, predicting down but won't commit to any moves either way until before or just after open. My gut feeling is that the announcement will be on the later side especially if we start with a down week, if I was one of the directors trying to get my share package ratified at the AGM I would prefer to be riding the crest of the wave rather than be kicking around in the white water after the wave has broken, I could be wrong but if no announcement is forthcoming we could have some more fun and games this week with resistance levels being tested once again. Picked up a few more Friday unfortunately, sitting on 150,000 at .54c av.


----------



## Putty7

*Re: MEO - Methanol Australia*

Was loaded up this morning on the sellers side again but has shown good resistance above 50c, bought another 50,000 at .525c, will sit on them now until a result regardless of SP movements, good luck to all holding.


----------



## swm79

*Re: MEO - Methanol Australia*

Another triangle formation here... just like the previous one on the run up from the 60s to the 80s... lower highs and higher lows on decending volume 

just a question on whether the DOW is going to hold up leading into the announcemnt.... which could come at any moment.

woudlnt be surprised if it was wednesday morning.


----------



## fureien

*Re: MEO - Methanol Australia*

Hi guys, ive been watching the movement of this stock lately without actually researching anything about it. well i just did a quick glance. Theres supposed to be some announcement pending on the 18th? is this regarding a patent or something? and whats this relation between MEO and Lakes oil? I hold some shares in lakes bought in at 10c, are the two companies related?

Ive put a buy order in of 10k shares at 52c hope it gets processed. I dont have as much equity as u do Putty lol


----------



## swm79

*Re: MEO - Methanol Australia*



fureien said:


> Hi guys, ive been watching the movement of this stock lately without actually researching anything about it. well i just did a quick glance. Theres supposed to be some announcement pending on the 18th? is this regarding a patent or something? and whats this relation between MEO and Lakes oil? I hold some shares in lakes bought in at 10c, are the two companies related?
> 
> Ive put a buy order in of 10k shares at 52c hope it gets processed. I dont have as much equity as u do Putty lol




MEO owns the rights to WA 360 (artemis)... nextdoor (i.e. a stones throw) to Pluto (WPL) and Wheatstone (Chevron, Exxon & Shell) 

they have held talks with a number of potential farm in partners and will be selecting one in the next week or so... i.e. before the AGM at the 18th Nov

i dont know of any connection between LKO and MEO

maybe you should do some research before you part with your $10k?... dont get me wrong, i'm on MEO... but you're laying down $10k on something you dont know anything about?


----------



## Putty7

*Re: MEO - Methanol Australia*

I am inclined to mirror SWM's thoughts, do some research before you invest,  as far as I know LKO and MEO have no relationship, I probably shouldn't have mentioned LKO in this thread but it interacted with my timing of buying and selling of MEO, nothing more. As to the capital, I have taken a risk that I think will pay off, not the first time I have been wrong so please do not act on my example, do your own research, with a market that is looking shakey anything can happen over the next few weeks.


----------



## swm79

*Re: MEO - Methanol Australia*

ok, we're back after melb cup...

because now we'll be uniterrupted for the rest of the week i'm going to make my prediction AGAIN (fingers crossed this time)

Today is *probably* the last day to get MEO for a cheap price... sometime today we'll probably get the announcement coming through and maybe even a trading halt. 

It looks like the tree shaker who was shorting has bought back and made their profit so we should be in the drivers seat from here on in. 

Good luck to all the holders -  once the announcement comes out we should be looking at the sp moving straight north.


----------



## Putty7

*Re: MEO - Methanol Australia*

Its always a risk and doubts start to enter while waiting for an announcement but I wouldn't worry to much, the announcement will happen within 2 weeks now and we will have a result, the Dow looks like it had choppy trading again last night so shouldn't be a lot of messing around as it seems to be keeping its end of the bargin up, oil is up slightly to at the moment so we have some good signs, well better than what they could have been at this time of the week lol.


----------



## Nyden

*Re: MEO - Methanol Australia*



swm79 said:


> ok, we're back after melb cup...
> 
> because now we'll be uniterrupted for the rest of the week i'm going to make my prediction AGAIN (fingers crossed this time)
> 
> Today is *probably* the last day to get MEO for a cheap price... sometime today we'll probably get the announcement coming through and maybe even a trading halt.
> 
> It looks like the tree shaker who was shorting has bought back and made their profit so we should be in the drivers seat from here on in.
> 
> Good luck to all the holders -  once the announcement comes out we should be looking at the sp moving straight north.




Ah, how nice to see the spruiking starting again. Come on, the last day to get it cheap? That is blatant ramping.


----------



## skc

*Re: MEO - Methanol Australia*



Putty7 said:


> Its always a risk and doubts start to enter while waiting for an announcement but I wouldn't worry to much, the announcement will happen within 2 weeks now and we will have a result, the Dow looks like it had choppy trading again last night so shouldn't be a lot of messing around as it seems to be keeping its end of the bargin up, oil is up slightly to at the moment so we have some good signs, well better than what they could have been at this time of the week lol.




What is your contingency plan B if the announcement is delayed or not the positive news that you are hoping to hear?


----------



## Nyden

*Re: MEO - Methanol Australia*



skc said:


> What is your contingency plan B if the announcement is delayed or not the positive news that you are hoping to hear?




Oh, there is no plan skc. There can be no doubt that the news is going to be spectacular, and that all MEO holders are going to quadrupole their money on the gap up.


----------



## Putty7

*Re: MEO - Methanol Australia*

Hi SKC, not sure at the moment, my av. is .536c, I have other companies I am interested in before the end of the year so I'm not looking long term for these, it's a quick in and out play and will depend on the strength of the announcement, a poor response to the announcement and I will probably bail as IMHO they will either run or they won't, there's no guarantees with the stock market behaving like it is at the moment. If it does fall to far past my av. I would not be keen to lose a big percentage dollar wise so would probably have to hold even though it is not in my plans, they do have more coming up with the Tassie Atoll plant and drilling but I would prefer to get back in closer to these events if the SP was right, rather than be caught holding while other opportunities slipped by. 

I took time off work to trade so that I could expose myself to more risk while being able to monitor it more closely, if I was still working I would not be holding so many and would be spread out a lot more through the market.

 I do apologise if I seem to comment a lot on these, but my interest is there at the moment so I follow the thread. 

I lost a bundle getting caught up with Admiralty earlier in the year in my biggest rookie mistake to date buying at the top of the SP so because I am biased against them I don't comment in that thread as my sour grapes view towards them detracts from anything constructive others might have to say, just the way I think.


----------



## skyQuake

*Re: MEO - Methanol Australia*

Think i might put a buy in at 48, catching the stops dump when it breaks the trendline 
At worst I won't get filled


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> Ah, how nice to see the spruiking starting again. Come on, the last day to get it cheap? That is blatant ramping.




i'm probably guilty of a bit of ramping there i must admit... appologies... maybe the cup has got to me!

maybe if i had worded differently and provided you with a chart explaining how 52c is a major line of resitance dating back to Jun 08 and that the triangle formation that the price is currently trading in, has provided us with a significant change in the SP on prior occasions... MEO reacts to triangles very well... as can be seen in the recent run from 60c to 80c

*THEN* it might have seemed less like spruiking and more like "detailed technical analysis"

maybe i should have let the chart ramp for me


----------



## swm79

*Re: MEO - Methanol Australia*



skyQuake said:


> Think i might put a buy in at 48, catching the stops dump when it breaks the trendline
> At worst I won't get filled




if you had have been there a week ago you would have been able to do it very VERY successfully... 

or was that you???


----------



## Nyden

*Re: MEO - Methanol Australia*



swm79 said:


> i'm probably guilty of a bit of ramping there i must admit... appologies... maybe the cup has got to me!
> 
> maybe if i had worded differently and provided you with a chart explaining how 52c is a major line of resitance dating back to Jun 08 and that the triangle formation that the price is currently trading in, has provided us with a significant change in the SP on prior occasions... MEO reacts to triangles very well... as can be seen in the recent run from 60c to 80c
> 
> *THEN* it might have seemed less like spruiking and more like "detailed technical analysis"
> 
> maybe i should have let the chart ramp for me




It was more the term of 'cheap' that irked me. You cannot say that this stock is cheap, nor can it be stated that it's expensive. A good piece of news will mean that it was in fact cheap; but bad news could see this, and any other stock crash and burn.

It's fairly priced for the fundamentals of the day, as are most, if not all other stocks. The market isn't wrong in its valuations, and if the upcoming news was *guaranteed* to be fantastic, then it would already be priced in, and a higher price would have already been reflective of that. See?


----------



## skyQuake

*Re: MEO - Methanol Australia*



swm79 said:


> if you had have been there a week ago you would have been able to do it very VERY successfully...
> 
> or was that you???




Never reached 48, so there would be stops around that area.Depending on how (and if) it breaks, that could spell the swing lows.


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> It was more the term of 'cheap' that irked me. You cannot say that this stock is cheap, nor can it be stated that it's expensive. A good piece of news will mean that it was in fact cheap; but bad news could see this, and any other stock crash and burn.
> 
> It's fairly priced for the fundamentals of the day, as are most, if not all other stocks. The market isn't wrong in its valuations, and if the upcoming news was *guaranteed* to be fantastic, then it would already be priced in, and a higher price would have already been reflective of that. See?




Granted, i shouldnt have used the word "cheap"... that was very very foolish.

but to say a stock is fairly priced on any given day is very naiive

how do you explain changes in SP's on NO news? everything is still the same and yet the price can go up or down on a whim.... SP flows on peoples expectations + true value


----------



## swm79

*Re: MEO - Methanol Australia*



skyQuake said:


> Never reached 48, so there would be stops around that area.Depending on how (and if) it breaks, that could spell the swing lows.




49 was pretty close though. so you'd be right in hitting at 48... if you're assuming 2%... prob is, if the news ISN'T good, you could be left having that filled... and if that was the case i'd say it would be a pretty dramatic drop


----------



## Nyden

*Re: MEO - Methanol Australia*



swm79 said:


> Granted, i shouldnt have used the word "cheap"... that was very very foolish.
> 
> but to say a stock is fairly priced on any given day is very naiive
> 
> how do you explain changes in SP's on NO news? everything is still the same and yet the price can go up or down on a whim.... SP flows on peoples expectations + true value




Expectations are everything. Risk is a fundamental, and the future of the entire economy is still somewhat uncertain. This will weigh on any share price. An indicator that the economy is recovering, leads to the idea of less risk. Whilst, on the flip side - an indicator that perhaps the economy is not recovering, leads to an increased risk.

Risk will always be built into the price of any investment, and risk is a fundamental.

After all, nobody wants to be the last to leave the party.


----------



## Putty7

*Re: MEO - Methanol Australia*

Hi Nyden, I agree with you in theory and I am watchful over these shares as I have exposed myself to a high percentage risk within my portfolio, the State of things at the moment is unsettled IMHO with the Dow and ASX seemly bumping along at the moment rather than having the set direction of earlier in the year after the March-April correction, it's times like these that the SP can be manipulated to a certain extent because doubt enters the market and a lot of traders seem happy to convert to cash and wait for the uncertainty to finish rather than risk themselves to uncertain exposure.

 It's only my opinion and I am open to correction of my thinking as if I knew everything and was always right I wouldn't need to be here, I am fairly new and I am still learning, probably will be long into the future if experience has taught me anything. Won't be throwing my capital figures around again in here, another mistake learnt over the course of this journey


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> Expectations are everything. Risk is a fundamental, and the future of the entire economy is still somewhat uncertain. This will weigh on any share price. An indicator that the economy is recovering, leads to the idea of less risk. Whilst, on the flip side - an indicator that perhaps the economy is not recovering, leads to an increased risk.
> 
> Risk will always be built into the price of any investment, and risk is a fundamental.
> 
> After all, nobody wants to be the last to leave the party.




i agree... but fortunes are made and lost on mispricing of shares

if they weren't i suspect a lot of us wouldnt be here talking about it.


----------



## skc

*Re: MEO - Methanol Australia*



Putty7 said:


> Hi SKC, not sure at the moment, *my av. is .536c*, I have other companies I am interested in before the end of the year so I'm not looking long term for these, it's a quick in and out play and will depend on the strength of the announcement, *a poor response to the announcement and I will probably bail *as IMHO they will either run or they won't, there's no guarantees with the stock market behaving like it is at the moment. If it does *fall to far past my av. I would not be keen to lose a big percentage dollar wise so would probably have to hold *even though it is not in my plans...






Putty7 said:


> *I lost a bundle *getting caught up with Admiralty earlier in the year in my *biggest rookie mistake *to date






Putty7 said:


> Hi Nyden, I agree with you in theory and I am watchful over these shares as I have exposed myself *to a high percentage risk within my portfolio*, the State of things at the moment is unsettled IMHO...






Putty7 said:


> It's only my opinion and I am *open to correction of my thinking *as if I knew everything and was always right I wouldn't need to be here, I am fairly new and I am still learning, probably will be long into the future if experience has taught me anything. Won't be throwing my capital figures around again in here, another mistake learnt over the course of this journey




Putty, I am worried about you... so many contradictions in your thinking. You will sell if the announcement is no good, but will hold if the share price fall too far below your average? Does that even make sense? How does your average price got anything to do with the future prospect of this company?

You have a large position, no plan and no exit strategy... evidently you haven't learn from your rookie mistake. You will do yourself a big favour if you write down a plan now, or you will make the wrong emotional decision when the heat is on. Write down what are the possible outcomes, what action you will take for each outcome and check that they make sense.

Not having a go at you personally. This advise is sincere. Good luck.

P.S. I know nothing about the fundamentals of this stock... but I only know it can move up and down 25% in a blink.


----------



## skc

*Re: MEO - Methanol Australia*



skyQuake said:


> Think i might put a buy in at 48, catching the stops dump when it breaks the trendline
> At worst I won't get filled




48c feels tight... unless you keep an eye on the announcement (assuming it goes into a halt) leaving an open limit order on this stock feels risky. 

I would fish around 40c probably. Fits my retracement level better.


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> Expectations are everything. Risk is a fundamental, and the future of the entire economy is still somewhat uncertain. This will weigh on any share price. An indicator that the economy is recovering, leads to the idea of less risk. Whilst, on the flip side - an indicator that perhaps the economy is not recovering, leads to an increased risk.
> 
> Risk will always be built into the price of any investment, and risk is a fundamental.
> 
> After all, nobody wants to be the last to leave the party.




to add to what i was saying... 

i dont have half of the money invested now that i had 6 weeks ago... and that's purely because i feel like i need to be dancing pretty close to the door with my "at risk capital" given the current market forces we're experiencing

i think one of the biggest movers of the rally from the march lows... well, the last few weeks or months of it and the reasoning behind the volatility we're experiencing now has a HELL of a lot to do with the currency trade and US investors chasing better yields... getting out of the USD and getting into anything else they can get their hands on... and a lot of the "dip" we're seeing now has more to do with the USD than anything else

with that in mind a share like CBA (or any of the other banks for that matter) would be grossly overvalued... purely because of the increased buying pressure rather than TRUE value or risk of the company


----------



## Putty7

*Re: MEO - Methanol Australia*

No worries Skc, I have done my research on this stock and I think they have real prospects going into the future as well as the short term, finding the right entry price is always difficult but I am happy with the price I have entered at for the moment with the current situation, if it falls I do not have an automatic stop loss set in place at present as it would have been set off over the last few weeks, I prefer a hands on approach and will be sitting here while the market is open and will monitor what is happening as it happens as opposed to locking in a price on the SP retreating. I've learned not to be emotional about shares when buying and selling, but watching how the market reacts, either strongly or poorly to a share is important in regards to my buying and selling, I took MEO on with this in mind even though MOG also have 15% of the same block in question and have the ability to move with a good announcement, I felt MEO was the safer share with more to offer. 

I am sorry if my thoughts seem conflicting, I am not looking to take a loss with regards to my capital, my reasoning to bail out with regards to my SP av. is if I can maintain a slight profit in doing so or pick up more shares as it bottoms out again, otherwise I can pursue my other interests. MEO has more than enough going for it to Hold if I have to over the long term, at the moment I am interested in short term plays and have 9 or 10 earmarked to finish the year with.

Thankyou for your advice it is certainly something I will look at and see if I need to readjust my trading and thinking.


----------



## swm79

*Re: MEO - Methanol Australia*

here's a chart... i've put some lines on it

what's going to happen?

anyone's guess... but SOMETHING is going to happen

haha... of course


----------



## swm79

*Re: MEO - Methanol Australia*

broken through our little triangle today and being consistantly chopped by bots

on a side note... something interesting:

MOG has a 15% stake in Artemis… their shares were sitting at 6c… when they acquired the Artimis deal they shot up to 26c…. 

its owned and run by Albers (he also had a hand in MEO)… MOG issued rights at 18c today

now here’s the clincher (IMO)…. Albers MUST know that the farmin is going to be positive, otherwise the rights will become totally worthless and no one will take them up… i.e. if the farmin was bad MOGs share price would tank back to 6c and no one would take up the rights leaving MOG and Albers up the creek.

DYOR


----------



## swm79

*Re: MEO - Methanol Australia*

closed at 57.5c up 7.5% for the day and definately breaking out of our triangle 

on the chart MACD has turned upwards towards 0 and we're looking at a trigger crossover... if buying is the same on monday we should see it trigger and push through 0

RSI has also turned north as well

my tip is on a monday or tuesday announcement as it is just before MOGs rights issue cut-off date


----------



## leedleed45

*Re: MEO - Methanol Australia*



swm79 said:


> closed at 57.5c up 7.5% for the day and definately breaking out of our triangle
> 
> on the chart MACD has turned upwards towards 0 and we're looking at a trigger crossover... if buying is the same on monday we should see it trigger and push through 0
> 
> RSI has also turned north as well
> 
> my tip is on a monday or tuesday announcement as it is just before MOGs rights issue cut-off date




I hope you are right swm! I have a good feeling about MEO, got in on monday at .54 and happy to hold. We haven't had any announcements or updates since Oct 20 so I think you are right on the money about a something being released early next week. 

btw nice job on the commentaries! a pleasure to read about your thoughs! :


----------



## swm79

*Re: MEO - Methanol Australia*

27 mins in and this thing has already gone from 58c to 61c 

we've broken the triangle... so the next level of support/resistance is around the 65c barrier


----------



## fureien

*Re: MEO - Methanol Australia*

Lol im so glad i made an impulse decision to buy at market at 53cents the other day. best impulse buy ever, beats my gf's impulse buys, at least mine make monies. haha


----------



## radioham6

*Re: MEO - Methanol Australia*

Thanks SWM79,

Your analysis is a pleasure to read on this stock. Keep up the great work. 

I'm holding and waiting.....after today I'm smiling again.

Cheers.


----------



## swm79

*Re: MEO - Methanol Australia*

thanks guys 

with the DOW up this morning it will be interesting to see where this goes today.

as i've said yesterday we've broken out of our triangle, volume is still pretty low and i'm sort of surprised it didnt do more yesterday. 

MACD has crossed over the trigger and turned upward toward 0... if it pushes through 0 it will confirm the beginning of our new run up. Bollinger bands have thinned and slightly turned upwards which is another plus

if it keeps tracking up like this i'd be happy if they didnt make the announcement til sometime early next week (considering the AGM is scheduled on the 18th)... just hope that the DOW will hold up for us

interesting times ahead


----------



## Lachlan6

*Re: MEO - Methanol Australia*

Looking promising. Will look to enter the stock if there is a continued low volume retracement and the stock show's strength in the $0.35 - $0.44 area.


----------



## swm79

*Re: MEO - Methanol Australia*

I'd say you'd be lucky to hit that zone... although if the farm-in is bad or postponed again you most probably will

however, if it comes before the AGM and it is good/relatively good you wont see that range for quite some time.

big games still being played in this one.

strong resistance in the short term at this current level i.e. 59-61

sellers are STACKED at 2.7:1!

especially after after 62c!!!!

0.620 462,895 (11)
0.625 487,684 (10)
0.630 225,420 (9)
0.635 411,436 (15)
0.640 718,963 (24)


----------



## Putty7

*Re: MEO - Methanol Australia*

The price movement from July has been predominantly leading up to the Farm in announcement which was due in September, then October and now all going well by the AGM on the 18th....



> *WA-360-P Farm-in Progress Report*
> 
> Key Points:
> • Final due diligence meetings scheduled for week commencing 26th October
> • Transaction expected to close by MEO’s AGM on 18th November




The key to the deal is the setting of a drill date before year end by either MEO or whoever takes on the farm in, or both, without this they both lose out with MOG picking up 35% of their share of the block, I'm pretty sure any company entering into the farm in would not be keen to see this happen, either would MEO. The rest while important is window dressing.

IMHO the announcement will make or break the SP in the short term.


----------



## fureien

*Re: MEO - Methanol Australia*

ugh drop to 56.5. thats a bit too heavy profit taking for my liking.

profit taking or insiders getting out? only 6 days to go. only 4 of which are trading days. cud go either way now really


----------



## swm79

*Re: MEO - Methanol Australia*

who else likes triangles?

still in the traders hands until we hear any news so i dont think we can get a take on whats going on.

IMO its being kept low and people are getting scared... although the closer and closer we get to an announcement the less people want to give up their holdings.... volume still getting lower.

lots of rumours still floating around as to who the farminee will be - that SHOULD answered sometime before next Wednesday... so not long to go now

lets see if Jurgen will bring us an early Christmas present!


----------



## skyQuake

*Re: MEO - Methanol Australia*

IMO this is a false break. There was barely any volume when it broke out of the triangle because everyone was alreadly long.
It should have shot up instead of making lower highs and lower low bars. First the weak hands sell then the burnt brkout trades, then the ones hoping it'll bounce off the first trendline etc.
The potential of the announcement is fairly well know so I would think thats factored in. Looks like a buy the rumor sell the fact.
Good luck.


----------



## swm79

*Re: MEO - Methanol Australia*



skyQuake said:


> IMO this is a false break. There was barely any volume when it broke out of the triangle because everyone was alreadly long.
> It should have shot up instead of making lower highs and lower low bars. First the weak hands sell then the burnt brkout trades, then the ones hoping it'll bounce off the first trendline etc.
> The potential of the announcement is fairly well know so I would think thats factored in. Looks like a buy the rumor sell the fact.
> Good luck.




damn you sky quake! i hate it when you make good points!

i agree - everyone is already long... thats why we're not seeing the run up that we did to 80c 

dont know if its factored in because i believe a lot of people have stayed out to see what will happen - dont want to get burned again 

what if its being kept low by the farminee or MEO themselves for the farminee - maybe a proposal to take a holding in MEO on weighted average...??? 

wouldnt put it past them given how close the AGM is


----------



## Putty7

*Re: MEO - Methanol Australia*

Well hopefully the waiting and speculation ends this week on MEO's immediate future SP prospects, the AGM is Wednesday and all going well they will announce the Farm in partner and the specifics of the agreement Monday or Tuesday. If it is delayed would be interesting to be a fly on the wall during the AGM. 

This taken from May Investor Update ASX announcement (page 16), potential value of the block to MEO....



> WA‐360‐P (assume 20% equity) Artemis prospect (~9 Tcf GIP) ~$2.50 value to SP




This taken from MEO website farm in opportunity document....



> WA-360-P Draft Farm-in Term Sheet Summary Base Agreement:
> 
> To be agreed (based on AIPN standard agreement or mutually acceptable similar agreement)
> 
> Share Earned: Up to 50% gross equity
> 
> Timing: Seeking farm-in offers by 31 July, 2009. Final terms negotiated with preferred Farminee by mid August, 2009. JV to evaluate new and existing seismic data and decide upon the primary well location by year end.
> 
> *Key Terms: Key minimum terms are outlined below.*
> 
> Terms:
> 
> Component Minimum Terms Sought:
> 
> *1. Seismic back Costs*
> 
> Back costs for 100% of actual costs of MEO and Artemis 3D surveys.
> (Approx US$8 million to be verified by reasonable provision of information,
> payable at time of execution of Farm-in Agreement)
> 
> *2. Primary Well Costs*
> 
> ‐ 2:1 Promote on primary well up to 50% equity (i.e. 100% of primary well
> costs would earn 50% equity)
> ‐ Well cost uncapped
> ‐ Production test included
> 
> *3. Secondary Well Costs*
> 
> In the event of a successful primary well (hydrocarbons recovered to
> surface):
> 
> ‐ 1.4:1 Promote for 2 follow-up wells (Promote to be applied to MEO’s
> share of well costs. i.e. if earning 50% equity then Farminee to pay 70%
> of cost of 2 follow-up wells which is Farminee’s 50% share plus MEO’s
> residual 20% share)
> 
> 4. Other Other terms offered by Farminee to be advised




These are the Farm in conditions sought by MEO, weather it is announced by Wednesday or not it will be interesting to see what they actually got out of the deal, they are looking to be re-imbursed for costs plus free carried for a possible 3 wells. It will also be good to finally see who took the farm in agreement on. If they achieve this it will let them focus on moving forward with the Tassie atoll gas plant plus further exploration and drilling of their surrounding fields for gas to supply it.

Good luck to all holding MEO.


----------



## Putty7

*Re: MEO - Methanol Australia*

Well I guess that takes Woodside out of the picture, another delay on the final outcome, looking around the middle of December for the final result.



> ASX & Media Release
> 
> WA-360-P Farm-in Progress Report
> 
> Key Points: Preferred Farminee is a major international petroleum and energy company Commercial due diligence visit during week of 26th October finalised all outstanding commercial terms Arrangements to accommodate future implementation of an integrated LNG project have been agreed Farminee Board of Director approval required for entry to Australia. Next meeting scheduled mid December MELBOURNE, AUSTRALIA (16th November, 2009) MEO Australia Limited (“MEO”) provides the following progress report in relation to its WA-360-P Exploration Permit.
> 
> The preferred Farminee is a major international petroleum and energy company. Its reputation, size and independence will provide substantial long term benefits for MEO. This opportunity is the first entry into Australia for the preferred Farminee and will require Foreign Investment Review Board (FIRB) approval.
> 
> All technical due diligence was successfully completed prior to the Indicative Offer being submitted to MEO. This transaction involved the resolution of complex issues beyond those for a simple farm-in agreement. Commercial due diligence negotiations to finalise all outstanding commercial terms were concluded during the week of October 26th.
> 
> Additional analysis and discussion was required with respect to the potential implementation of an integrated LNG project in the event of exploration success. The necessary arrangements to deal with this potential outcome were agreed and will facilitate alignment and effective operation of the new joint venture.
> 
> The preferred Farminee’s executive management have advised MEO that Board of Director approval is required when establishing activities in a new country. The next board meeting is scheduled for mid December. It is expected that after this meeting, the preferred Farminee will have the necessary approval to execute binding agreements which will be subject only to Australian regulatory approvals.
> 
> While MEO remains confident that the transaction will be finalised, the company cannot guarantee this outcome. MEO thanks shareholders for their understanding.


----------



## doogle

*Re: MEO - Methanol Australia*



Putty7 said:


> Well I guess that takes Woodside out of the picture, another delay on the final outcome, looking around the middle of December for the final result.




They need permission from their Board/Chairman before going ahead...that sounds to me like it could be the Chinese??? Things could get complciated if the Federal International  Investment Commission thingy has to get involved...we could be waiting even longer - although we will know who it is.


----------



## Pivotonian

*Re: MEO - Methanol Australia*



doogle said:


> They need permission from their Board/Chairman before going ahead...that sounds to me like it could be the Chinese???




I would have though that virtually any company listed on any reputable stock exchange in the world would need board approval for something like this.


----------



## skc

*Re: MEO - Methanol Australia*

Putty, I assume you are still gonna hold until the next announcement? Or you going to deploy your capital elsewhere?

Pretty low volume fall today so no one is panicking yet.



Pivotonian said:


> I would have though that virtually any company listed on any reputable stock exchange in the world would need board approval for something like this.




Read the announcement again.. they said they need Chairman Mao's approval. 

BTW, your avatar is quite unpleasant. Would you consider changing it for the good of the community?


----------



## Putty7

*Re: MEO - Methanol Australia*



skc said:


> Putty, I assume you are still gonna hold until the next announcement? Or you going to deploy your capital elsewhere?
> 
> Pretty low volume fall today so no one is panicking yet.
> 
> 
> 
> Read the announcement again.. they said they need Chairman Mao's approval.
> 
> BTW, your avatar is quite unpleasant. Would you consider changing it for the good of the community?




Sold at .57c today, looking elsewhere but will monitor SP and maybe get back in closer to the announcement, theres no panic IMHO, even if things are delayed MEO could commit to drilling before next year to keep their block interest and look for re-imbursement from farm in partner, the idea of an LNG plant into the deal is interesting and long term would be good for MEO but may change the structure of the original farm in depending on who gets what and who is paying for what, I think the upside for MEO is still very good and the day traders should keep the SP busy for another month.


----------



## doogle

*Re: MEO - Methanol Australia*



Putty7 said:


> Sold at .57c today, looking elsewhere but will monitor SP and maybe get back in closer to the announcement, theres no panic IMHO, even if things are delayed MEO could commit to drilling before next year to keep their block interest and look for re-imbursement from farm in partner, the idea of an LNG plant into the deal is interesting and long term would be good for MEO but may change the structure of the original farm in depending on who gets what and who is paying for what, I think the upside for MEO is still very good and the day traders should keep the SP busy for another month.




I agree no need to panic - I have been patient all this time waiting for the really good news and it is here finally - just depends how good the news is. I  think it is Chinese...hasn't Chevron got enough...I guess it could be a Shell but the Chinese are moving in on anything they can get there hands on - that is why I am going for them!


----------



## Pivotonian

*Re: MEO - Methanol Australia*



skc said:


> BTW, your avatar is quite unpleasant. Would you consider changing it for the good of the community?




I quite like the avatar, but then again I'm a sick bastard. 

I don't want to offend anyone though, so I'm happy to change it if thats the case.


----------



## Nyden

*Re: MEO - Methanol Australia*



doogle said:


> I agree no need to panic - I have been patient all this time waiting for the really good news and it is here finally - just depends how good the news is. I  think it is Chinese...hasn't Chevron got enough...I guess it could be a Shell but the Chinese are moving in on anything they can get there hands on - that is why I am going for them!




How can you talk up a stock that's down 8% on the close? It's as though there's no risk, and you're only concerned as to 'how much' profit you're going to make. There isn't even a case for a possible loss?


----------



## skc

*Re: MEO - Methanol Australia*

A bit of coiling triangle forming... a continuation pattern that some believes sit mid way through a move. In that case the downside target is ~30c. Good support at 35-40c should the stock ever go down that far.

It is also possible for a little 5th leg up in that coiling triangle before it travels down.

And of course possible for the stock to just go sideways or up..







Pivotonian said:


> I quite like the avatar, but then again I'm a sick bastard.
> 
> I don't want to offend anyone though, so I'm happy to change it if thats the case.




Thank you. You are a gentleman.


----------



## doogle

*Re: MEO - Methanol Australia*



Nyden said:


> How can you talk up a stock that's down 8% on the close? It's as though there's no risk, and you're only concerned as to 'how much' profit you're going to make. There isn't even a case for a possible loss?




Ah yep I am only concerned how much profit I am going to make. Sorry about that...I sincerely apologise if anyone is convinced/affected by my 'ramping up' - please do your own research and ignore mine.


----------



## bigdog

*Re: MEO - Methanol Australia*

17-11-2009 09:05 AM  MEO  Trading Halt  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01011532

*Request for trading halt*
MEO Australia Limited (ASX: MEO) requests a trading halt of its shares of up to 2 days effective immediately pending an announcement regarding the outcome of a potential capital raising by MEO.

For the purposes of ASX Listing Rule 17.1, MEO provides the following information:
(a) the trading halt is necessary as otherwise trading in MEO shares may take
place in an uninformed market, and to allow the capital raising to take place in
an orderly fashion;
(b) MEO requests that the trading halt remain in place until it is in a position to make an announcement to the market regarding the outcome of the capital
raising. MEO anticipates that an announcement will be made prior to the
commencement of normal trading on 19 November 2009 and the trading halt
will cease at that time; and
(c) MEO is not aware of any reason why the trading halt should not be granted.


----------



## swm79

*Re: MEO - Methanol Australia*

been away from this for a while and wow, lots of goings on here.

lots of speculations as to what is going on too.

IMO the announcement is a positive. there is a major who is very keen to get onboard. obviously with very deep pockets as they are willing to integrate in MEO's other projects... and i believe this may have been the deal

while there are still issues to take care of i'm quietly confident that the deal will go through... possibly surprising on the upside

JUST MY OPINION... DYOR

Putty, you're out??? just when it was getting exciting!!!


----------



## skyQuake

*Re: MEO - Methanol Australia*



swm79 said:


> been away from this for a while and wow, lots of goings on here.
> 
> lots of speculations as to what is going on too.
> 
> IMO the announcement is a positive. there is a major who is very keen to get onboard. obviously with very deep pockets as they are willing to integrate in MEO's other projects... and i believe this may have been the deal
> 
> while there are still issues to take care of i'm quietly confident that the deal will go through... possibly surprising on the upside
> 
> JUST MY OPINION... DYOR
> 
> Putty, you're out??? just when it was getting exciting!!!




Cap raising positive? Maybe in the long run. Short run definite negative with placement and SPP holding the price down. 
The fact is the company is trying to raise money rather than a major trying to get on board. Removal of debt will be a positive though, as is financing of further operations in the mid to long term.


----------



## swm79

*Re: MEO - Methanol Australia*



skyQuake said:


> Cap raising positive? Maybe in the long run. Short run definite negative with placement and SPP holding the price down.
> The fact is the company is trying to raise money rather than a major trying to get on board. Removal of debt will be a positive though, as is financing of further operations in the mid to long term.




yeah, i'm talking mid-term

granted they are raising money but it can only serve them well, IMO. They need to tie up loose ends and commit to drill... without a CR the whole thing stands to fall over in a heap... i'd rather my SP waiver around the 40-50c mark short term than drop to 10c and never recover!

also i'm thinking that the tie up on artemis with the "major international petroleum and energy company" with "potential implementation of an integrated LNG project in the event of exploration sucess" has to put a positive spotlight on them whatever the short term SP volitility


----------



## skc

*Re: MEO - Methanol Australia*



swm79 said:


> IMO the announcement is a positive.
> 
> Putty, you're out??? just when it was getting exciting!!!




There is always at least one in every stock discussion thread...

Thinking everything is positive, interpreting announcements only in positive light, practically married to their idea about a stock.

Anyway, looks like the predictive power of the dotted lines on my chart is real.


----------



## Nyden

*Re: MEO - Methanol Australia*



skc said:


> There is always at least one in every stock discussion thread...
> 
> Thinking everything is positive, interpreting announcements only in positive light, practically married to their idea about a stock.
> 
> Anyway, looks like the predictive power of the dotted lines on my chart is real.




One? I'd say this thread had about 3. Like I said, "apparently" this stock can only go up


----------



## swm79

*Re: MEO - Methanol Australia*



skc said:


> There is always at least one in every stock discussion thread...
> 
> Thinking everything is positive, interpreting announcements only in positive light, practically married to their idea about a stock.
> 
> Anyway, looks like the predictive power of the dotted lines on my chart is real.




come off it skc.

is that all you can add? a snide remark and a faulty chart...

so i'm commited to my investment. big deal. i have a lot of dollars tied up in this one and have held it for quite a while so you'll appreciate why i might portray this with such optimism and hope

if you have an alternate point of view based on the fundamentals and the info provided i'd like to hear it

what's your take?

or will you just hide behind your charts and "predictive dotted lines"... your last prediction on this stock has played out REALLY well


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> One? I'd say this thread had about 3. Like I said, "apparently" this stock can only go up




is that all you've got to say?

provide some rebuttal as to why you imply that the only way is down or jog on to HC and post over there


----------



## swm79

*Re: MEO - Methanol Australia*

whats the difference between "Thinking everything is positive, interpreting announcements only in positive light, practically married to their idea about a stock" and posting a chart that predicts the opposite???

answer = absolutely nothing!

yes, yes everything IS rosey! 

would you like me to come on here and downramp? why? if i have invested in a stock i am obviously confident that it will do well otherwise i would be a complete and utter idiot

just because i have only written about things i see as positives doesnt mean i am completely 100% happy or that i am "married to a stock"

from now on maybe i should try to post as a fence sitter.... but what would be the point of that?


----------



## Nyden

*Re: MEO - Methanol Australia*



swm79 said:


> is that all you've got to say?
> 
> provide some rebuttal as to why you imply that the only way is down or jog on to HC and post over there




I am not a member of HC; for reasons found in this very threat. My rebuttal? I've seen enough folk like you, and a couple of other posters here. They're so incredibly confident in their choice, as though they have some inside knowledge - that no one else has.

There's at least one fellow on this thread, that *only* posts about this stock. Does that imply that this is all they hold? I sure as hell hope not.

Do you have any understanding of risk management? Money management? Diversification? Common sense? What a brilliant idea, put all of your money into one stock. Watch it like a hawk, *expect* stellar profits, and self-proclaim yourself to be a guru. 

What happens if it goes down? What if, (just bare with me - I know it's difficult to even consider it to be a possibility) just, what if - the news they release isn't stellar? What if the price does nothing for a year, or worse yet; sits in a down trend for a couple of years? I know, it just isn't possible, right?

What's your plan? You poke people for selling! As I've said, I've *seen* enough of your sort in my rather short period here. When things don't go as expected, these individuals seem to disappear, and perhaps even create new accounts, as to re-claim their guru status. Or, they sit here, complaining about governments, or some other entity or event that 'robbed' them of their big win. It's always someone else's fault that they lost money, never their own 

 ... I could go on forever, really.

Good question, why post? There is no answer; because there is no reason. Post analysis, post thoughts, fine; but try not to be biased. Just because you hold a stock, doesn't mean it's a good choice. Only a fool believes that he's 100% right. I can love a company, believe the prospects of a stock are good; but if it doesn't perform, I sell it like the dog it is.


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> I am not a member of HC; for reasons found in this very threat. My rebuttal? I've seen enough folk like you, and a couple of other posters here. They're so incredibly confident in their choice, as though they have some inside knowledge - that no one else has.
> 
> There's at least one fellow on this thread, that *only* posts about this stock. Does that imply that this is all they hold? I sure as hell hope not.
> 
> Do you have any understanding of risk management? Money management? Diversification? Common sense? What a brilliant idea, put all of your money into one stock. Watch it like a hawk, *expect* stellar profits, and self-proclaim yourself to be a guru.
> 
> What happens if it goes down? What if, (just bare with me - I know it's difficult to even consider it to be a possibility) just, what if - the news they release isn't stellar? What if the price does nothing for a year, or worse yet; sits in a down trend for a couple of years? I know, it just isn't possible, right?
> 
> What's your plan? You poke people for selling! As I've said, I've *seen* enough of your sort in my rather short period here. When things don't go as expected, these individuals seem to disappear, and perhaps even create new accounts, as to re-claim their guru status. Or, they sit here, complaining about governments, or some other entity or event that 'robbed' them of their big win. It's always someone else's fault that they lost money, never their own
> 
> ... I could go on forever, really.




if you're talking about me only posting on MEO then you need to go back further in my postings my friend. i only sweep into ASF for a few mins a day currently and i have basically only posted on MEO recently as there is the most happening in this one share out of all of my holdings... except for NWE... maybe you could go over there and bag my posts on that too... but Young Trader will back me up on that one

hahaha diversification, risk management... what are you 1st year finance degree portfolio theory... not that i do but; who said its wrong to invest in one share??? 

if i only had $10,000 dollars and decided to only invest in FMG back in 1990 i and sold out in June 2008 i'd be $73million richer... doesnt look so dumb does it?

poke people for selling??? no no no, that is where you're wrong... it is not that i "poked" Putty for selling because i 100% believe that it can only go up... it is because of the fact that people are now sh*tting themselves because of the last two weeks events that i poked him... because he was scared.... NOT because i believe the only way is up!!!... if you understood the share instead of coming in here and running your mouth without knowing what is going on THEN you would realise that the sentiment at the moment about this share is that it is VERY dangerous

when did i EVER say that it wasnt possible for this stock to go down??? i dont rememeber ever saying it? 

if it goes down then what?.... then it goes down... you assume you know my entry point! 

and if it does go down what do you propose i do???? sell when its down????

now you're being ridiculous!!!!!!!!

my sort??? jog on mate you have NO idea!!!!!


----------



## Nyden

*Re: MEO - Methanol Australia*



swm79 said:


> and if it does go down what do you propose i do???? sell when its down????




It's called a stop-loss 

No, I was not referring to you when I made mention of a poster that only seems to post here.

Only with hindsight could anyone know that FMG would've made them a millionaire, and the same thing applies here, mate. Don't know why you're getting so angry at me? I am simply stating my observations of what is going on in this thread.

You don't know why people are selling, you have absolutely no idea, you cannot. You don't know that putty sold because he's 'scared'. Perhaps he sold because he sees greener pastures, or is tired of volatility / lack of movement? 

I was once 'poked' for selling out of one Oxiana resources at $3-something. I believe I was referred to as a 'weak-hand'. Yeah. I remember having a nice big smile on my face when it hit 50c. The point? Well, only with hindsight can a decision be seen to be right or wrong.


----------



## swm79

*Re: MEO - Methanol Australia*



Nyden said:


> It's called a stop-loss
> 
> No, I was not referring to you when I made mention of a poster that only seems to post here.
> 
> Only with hindsight could anyone know that FMG would've made them a millionaire, and the same thing applies here, mate. Don't know why you're getting so angry at me? I am simply stating my observations of what is going on in this thread.
> 
> You don't know why people are selling, you have absolutely no idea, you cannot. You don't know that putty sold because he's 'scared'. Perhaps he sold because he sees greener pastures, or is tired of volatility / lack of movement?
> 
> I was once 'poked' for selling out of one Oxiana resources at $3-something. I believe I was referred to as a 'weak-hand'. Yeah. I remember having a nice big smile on my face when it hit 50c. The point? Well, only with hindsight can a decision be seen to be right or wrong.




if you had been watching this stock you would have seen what setting a stop loss would have done! stop losses are useful for day traders... not on this, as IMO its a mid-to-long termer

not angry mate, just cant see why you want to come in here and rubbish my posts but then have no reasoning as to why you think my posts are rubbish... all you can do is rubbish your idea of me and my convictions.... but have you mentioned anything to do with the stock???

Hindsight is a hell of a tool, but not too helpful looking into the future


----------



## Nyden

*Re: MEO - Methanol Australia*



swm79 said:


> if you had been watching this stock you would have seen what setting a stop loss would have done! stop losses are useful for day traders... not on this, as IMO its a mid-to-long termer
> 
> not angry mate, just cant see why you want to come in here and rubbish my posts but then have no reasoning as to why you think my posts are rubbish... all you can do is rubbish your idea of me and my convictions.... but have you mentioned anything to do with the stock???
> 
> Hindsight is a hell of a tool, but not too helpful looking into the future




Well, by looking at the chart - I see that a stop loss would have prevented being hit by the drop from $1.6 to 18c?


----------



## Putty7

*Re: MEO - Methanol Australia*

Colourful reading today to say the least, as I said to SKC somewhere back in the thread, I was happy with my SP av for the current situation, I believe the delay on announcement changed that situation with regards to my entry point in the short term and acted accordingly, prefering to adopt a wait and see attitude while diversifying out into other shares , long term they look good, over the next few weeks with regards to the SP who knows, time will tell.

I appreciate getting all your thoughts because it helps to keep mine in check, my theory is anyone who buys because of a thread and what a few punters say, bad or good, without doing their own homework, should think about another occupation, at the end of the day we are all speculating, we all have our different ideas and values, it's what gives the market the room to move it has.


----------



## skc

*Re: MEO - Methanol Australia*



swm79 said:


> come off it skc.
> 
> is that all you can add? a snide remark and a faulty chart...
> 
> so i'm commited to my investment. big deal. i have a lot of dollars tied up in this one and have held it for quite a while so you'll appreciate why i might portray this with such optimism and hope
> 
> if you have an alternate point of view based on the fundamentals and the info provided i'd like to hear it
> 
> what's your take?
> 
> or will you just hide behind your charts and "predictive dotted lines"... your last prediction on this stock has played out REALLY well




You don't care about charts? I thought you pointed out all the triangles and breakout a few posts back?

I found that there are always signs to look out for whether someone is being objective about their investment. Words like "hope", "optimistic", "committed", "have lots of dollars tied up", "confident" etc tend to suggest little planning and strong emotions are involved.

Anyway, I have no interest in debating with you... if you are not being emotional and have planned your investment then fantastic and good luck. If you are being emotional then good luck also.


----------



## swm79

*Re: MEO - Methanol Australia*



Putty7 said:


> Colourful reading today to say the least, as I said to SKC somewhere back in the thread, I was happy with my SP av for the current situation, I believe the delay on announcement changed that situation with regards to my entry point in the short term and acted accordingly, prefering to adopt a wait and see attitude while diversifying out into other shares , long term they look good, over the next few weeks with regards to the SP who knows, time will tell.
> 
> I appreciate getting all your thoughts because it helps to keep mine in check, my theory is anyone who buys because of a thread and what a few punters say, bad or good, without doing their own homework, should think about another occupation, at the end of the day we are all speculating, we all have our different ideas and values, it's what gives the market the room to move it has.




in other words "scared"

hahahahahaha  just kidding Putts, i know the deal... 

agree with you wholeheartedly about DYOR... and have done.


----------



## swm79

*Re: MEO - Methanol Australia*



skc said:


> You don't care about charts? I thought you pointed out all the triangles and breakout a few posts back?
> 
> I found that there are always signs to look out for whether someone is being objective about their investment. Words like "hope", "optimistic", "committed", "have lots of dollars tied up", "confident" etc tend to suggest little planning and strong emotions are involved.
> 
> Anyway, I have no interest in debating with you... if you are not being emotional and have planned your investment then fantastic and good luck. If you are being emotional then good luck also.




i do care about charts... what i dont agree with is your "predictive lines"... talk about ramping!!!



> Words like "hope", "optimistic", "committed", "have lots of dollars tied up", "confident" etc tend to suggest little planning and strong emotions are involved.




hhhmmm and i'm sure you can accurately predict 100% of the time what will happen in any share on the market at any given time???? You'd better tell me this weeks lotto numbers too!

of course you have no interest in debating with me... you obviously have no idea what is going on with this share, you merely turn up post a chart and try to make other people look foolish with your "predictive power of dotted lines".... hahaha you're a joke


----------



## skyQuake

*Re: MEO - Methanol Australia*

Play nice kids.

*Placement @ $0.45* to exercise the artemis option
Not sure if there's a SPP.

What this means is the triangle is gonna break to the downside. Breakout traders and support buyers would prob bail. Once instos get their shares are they would probably also be inclinded to dump at market (unless the good news comes out before that).

Disagree with stop losses just for daytraders. I think it was motorway that mentioned stop losses not only stop u from losing money, but opportunity cost (of having money tied up in dogs like LKO for years or decades)


----------



## skc

*Re: MEO - Methanol Australia*



swm79 said:


> i do care about charts... what i dont agree with is your "predictive lines"... talk about ramping!!!
> 
> 
> 
> hhhmmm and i'm sure you can accurately predict 100% of the time what will happen in any share on the market at any given time???? You'd better tell me this weeks lotto numbers too!
> 
> of course you have no interest in debating with me... you obviously have no idea what is going on with this share, you merely turn up post a chart and try to make other people look foolish with your "predictive power of dotted lines".... hahaha you're a joke




The term "predictive lines" were in fact a joke, as we all know technical analysis is not meant to be predictive, but only provide framework for knowing when one is right or wrong. It's OK if you don't get / agree with my dry humour.

And the chart was not ramping (or down ramping). It was just pointing out that a triangle has formed and continuation down is possible.

I have no idea fundamentally what is going on with this share. And you are missing the point. I am not debating with you the merits of this share. I am merely pointing out some of the evidences of your trading behaviour / mindset. And you don't need to debate with me what your real mindset is... as I have no interest. It's your money afterall. Again. Good luck.



skyQuake said:


> *Play* nice kids.




Back me up, SkyQ. When have I not been nice?


----------



## swm79

*Re: MEO - Methanol Australia*



skyQuake said:


> Place nice kids.
> 
> *Placement @ $0.45* to exercise the artemis option
> Not sure if there's a SPP.
> 
> What this means is the triangle is gonna break to the downside. Breakout traders and support buyers would prob bail. Once instos get their shares are they would probably also be inclinded to dump at market (unless the good news comes out before that).
> 
> Disagree with stop losses just for daytraders. I think it was motorway that mentioned stop losses not only stop u from losing money, but opportunity cost (of having money tied up in dogs like LKO for years or decades)




thanks SQ always a pleasure to do business with you

granted, i think you are right - normally instos would probably bail... but it will all depend on what happens at the AGM tomorrow... i think there will be a lot more info given there tomorrow

the issue i have with stop losses is in this share in particular - tree shakers came along and knocked out a lot of stop losses and then quickly built back up above... normally i'd probably use PSAR instead of the 2% so many people use, but i'd rather just play it out on this... anyway, my SL wouldnt have been struck anyway, so no point so far


----------



## swm79

*Re: MEO - Methanol Australia*



skc said:


> I have no idea fundamentally what is going on with this share. And you are missing the point. I am not debating with you the merits of this share. I am merely pointing out some of the evidences of your trading behaviour / mindset. And you don't need to debate with me what your real mindset is... as I have no interest




so really all you're doing is trying to stir sh&%t in some sort of attempt to be seen as the alpha male???

you can have it my friend.

you said it yourself 



> I have no idea fundamentally what is going on with this share... I am merely pointing out some of the evidences of your trading behaviour/mindset




a personal attack...

good luck with with your trading


----------



## nomore4s

*Re: MEO - Methanol Australia*

All right enough is enough, let's all let it go and get back on the topic of MEO.

Anymore posts debating this issue will be deleted and infractions handed out.

Thank you


----------



## swm79

*Re: MEO - Methanol Australia*

appologises to all involved. good luck trading guys. 

if anyone wants to discuss MEO, i'm happy to do so

great tag nomore4s


----------



## GREENS

*Re: MEO - Methanol Australia*

Guys the one thing going unnoticed here is, if this prospect is as good as it is portrayed then why the hell are Woodside and Chevron out of the equation. These two companies would have more knowledge than anyone including MEO of the area, geology and chances of success. This could be a very valid reason why people are starting to head for the exit. Woodside and Chevron have got the most to gain from any discovery because they will already have the infrastructure to accommodate a relatively quick and much cheaper development option of the field compared to other potential suitors. 

Was looking for an entry around the 50c mark but expected Woodside to be the partner due to their issues with needing additional gas for future Pluto trains. This prospect is in relatively close proximity and its size is a perfect fit for Woodside. If it’s not good enough for Woodside then that very much worries me.  The only rebuttal to that theory is that they were outpriced, but I think if they were that confident they could have out bided anyone due to the huge cost savings with development.

Also from what I have read, I wonder what their plan B is if the board of this JV partner turn down the proposal in mid December? This could be potentially devastating. I think you could look at Nexus as a prime example of what can happen to ones share price if a JV partner pulls out of a potentially lucrative agreement. However the effect would probably not be as severe because they do not have to contend with the onset of the GFC. You’d think if the major in question have come this far, the chances of failure between the two parties would be fairly minimal. Still there are more and more questions marks on this stock everyday which makes me a little uneasy at the current time.


----------



## swm79

*Re: MEO - Methanol Australia*



GREENS said:


> Guys the one thing going unnoticed here is, if this prospect is as good as it is portrayed then why the hell are Woodside and Chevron out of the equation. These two companies would have more knowledge than anyone including MEO of the area, geology and chances of success. This could be a very valid reason why people are starting to head for the exit. Woodside and Chevron have got the most to gain from any discovery because they will already have the infrastructure to accommodate a relatively quick and much cheaper development option of the field compared to other potential suitors.
> 
> Was looking for an entry around the 50c mark but expected Woodside to be the partner due to their issues with needing additional gas for future Pluto trains. This prospect is in relatively close proximity and its size is a perfect fit for Woodside. If it’s not good enough for Woodside then that very much worries me.  The only rebuttal to that theory is that they were outpriced, but I think if they were that confident they could have out bided anyone due to the huge cost savings with development.
> 
> Also from what I have read, I wonder what their plan B is if the board of this JV partner turn down the proposal in mid December? This could be potentially devastating. I think you could look at Nexus as a prime example of what can happen to ones share price if a JV partner pulls out of a potentially lucrative agreement. However the effect would probably not be as severe because they do not have to contend with the onset of the GFC. You’d think if the major in question have come this far, the chances of failure between the two parties would be fairly minimal. Still there are more and more questions marks on this stock everyday which makes me a little uneasy at the current time.




Hi Greens,

i think a lot of people are caught up in the "if its not good enough for Woodside or Chevron" story... but who says it wasnt??? Has anyone from Woodside or Chevron reported that they weren't interested because of the geology?

if they knew the geology better than anyone and they suspected it to be a dud my opinion is that they wouldn't have wasted their time in the data room or even attending the farminee proceedings... but there are numerous accounts that they in fact did!

Therefore, i believe Woodside and Chevron and out of the equation because of the offer tabled by the farminee. i think, and i'm only speculating here because i think we'll find out more today at the AGM, that the offers made by Woodside and Chevron might have been too limited in their scope i.e. just a straight farmin to Artemis and that was it... but i think the farminee has provided an offer that extends much further than that and encompasses more of MEO's projects. IMO, and i'm purely reading between the lines here... we can see that in the announcement here:



> Its reputation, size and independence will provide substantial long term benefits for MEO




and here



> This transaction involved the resolution of complex issues beyond those of a simple farm-in agreement




and here 



> Additional analysis and discussionwas required with respect to the potential implementation of an integrated LNG project in the even of exploration sucess




also, i think it is (speculatively) evident through the moves that WPL and Chevron have made during October and further through reports stating that "WPL have made its best offer" etc etc 

also, to remind everyone what we're talking about here with Artemis and the farmin:



> WA-360-P contains the Artemis Prospect, identified by permit operator MEO Australia Ltd as having an aggregate prospective resource of 20.3 trillion cubic feet of gas (Tcf), of which 12Tcf is expected to be recoverable.
> 
> Such a figure would make it among Australia's largest gas reservoirs, much bigger than Woodside's Pluto gas field, with 4.4 Tcf, but smaller than Gorgon, the nation's biggest field with 40Tcf.... at an estimated worth of about one dollar per thousand cubic feet, the Artemis Prospect could be worth $12 billion.




with regards to the farminee pulling out - i highly doubt this will occur... you said:



> You’d think if the major in question have come this far, the chances of failure between the two parties would be fairly minimal.




i totally agree. if they weren't commited to this then they wouldnt have wasted their time and money in facilitating MEO in the bidding... i think the whole "we have to get the board to sign off on it" is just a very insignificant bureaucratic ceremony

but as always DYOR


----------



## Pivotonian

*Re: MEO - Methanol Australia*



nomore4s said:


> All right enough is enough, let's all let it go and get back on the topic of MEO.
> 
> Anymore posts debating this issue will be deleted and infractions handed out.
> 
> Thank you




Hey nomore4s, can you give yourself an infraction for that apalling avatar??

Just kidding!


----------



## nomore4s

*Re: MEO - Methanol Australia*



Pivotonian said:


> Hey nomore4s, can you give yourself an infraction for that apalling avatar??
> 
> Just kidding!




lol, no but I can give you one for yours:

Now back on topic please.

If support at 45-50c doesn't hold I think prices could test the 30c region but that is only off a quick view of the chart and tbh it's not looking very bullish atm.


----------



## bigdog

*Re: MEO - Methanol Australia*

*The Institutional and Sophisticated investors at $0.45/share are laughing all the way to the bank!!*
-- what are your thoughts?

18-11-2009 09:13 AM  MEO  MEO completes share placement  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01012053

*MEO Completes share placement to underpin exercise of WA-360-P drill/drop option*

Key Points: 

Completes placement of 59,898,385 shares to Institutional and Sophisticated investors at $0.45/share 
Gross proceeds from placement approximately $27m before costs of the issue 
Raising underpins planned exercise of WA-360-P drill/drop option ahead of finalising farm-in

MELBOURNE, AUSTRALIA (18th November, 2009) MEO Australia Limited (“MEO”) advises that it has successfully placed 59,898,385 million new shares (14.35% of its issued capital) at $0.45 per share to Institutional and Sophisticated Investors as defined under Section 708 of the Corporations Act. The shares were issued within MEO’s 15% placement capacity as described under ASX Listing Rule 7.1. The placement has raised gross proceeds of approximately $27m before costs of the issue and was heavily oversubscribed. Settlement is scheduled for Monday 23rd November. MEO welcomes more than twenty new Institutional investors onto its register, together with a number of new sophisticated shareholders introduced by Joint Lead Managers E.L & C. Baillieu and Morgan Stanley Australia Securities Limited.

The funds from the placement together with existing cash reserves will underpin the financial commitment involved in the planned exercise of the drill/drop option for WA-360-P. MEO must make an irrevocable commitment to its co-Venturers by 31 December 2009 to fund the drilling of the commitment well in the permit in order to retain its 70% interest. The board of directors views this capital raising an appropriate risk management measure to provide certainty for shareholders while the WA-360-P farm-in is being finalised. Assuming the farm-in has been finalised the capital raised will be used to advance MEO’s existing projects and to secure attractive growth opportunities.


----------



## swm79

*Re: MEO - Methanol Australia*



nomore4s said:


> lol, no but I can give you one for yours:
> 
> Now back on topic please.
> 
> If support at 45-50c doesn't hold I think prices could test the 30c region but that is only off a quick view of the chart and tbh it's not looking very bullish atm.




i think the SP has been manipulated for insto placement tho... if you look at the price channel over the previous 2-3 weeks its very small... and watching it daily you see cappers coming in here and there and everywhere not letting it run


----------



## swm79

*Re: MEO - Methanol Australia*

i believe the "heavily over subscribed" placement to be good news, less risk - they now have the money to drill and just need approval from the Farm-ins board in December.

while i dont like the dilution i think it will create less volitility placing with instos and having more heavy weights on board

i think it sets MEO up in a better position and strengthens their position with, and in the eyes of the farminee

just my opinion


----------



## swm79

*Re: MEO - Methanol Australia*

check out the doji... balance of buyers and sellers = no trend = beginning of a new trend = bulls vs bears fight for dominance = interesting times ahead!!


----------



## Trader Paul

*Re: MEO - Methanol Australia*



Trader Paul said:


> Posted 21062009
> 
> Hi folks,
> 
> MEO ... lifted off its recent lows on Friday, with good supporting
> volume ..... as requested, here’s our astroanalysis, over coming months:
> 
> 12-15062009 ..... minor and positive cycle
> 
> 19-22062009 ..... minor time cycle
> 
> 26-29062009 ..... a very positive spotlight on MEO
> 
> 06-07072009 ..... significant and positive news expected here.
> 
> 10-13072009 ..... minor cycle
> 
> 20-21072009 ..... 3 minor and positive time cycles in play
> 
> 29072009 ..... minor cycle
> 
> 06-07082009 ..... 2 significant time cycles, should also bring
> some positive news, as well.
> 
> 28-31082009 ..... minor and positive spotlight on MEO
> 
> 01092009 ..... significant and negative time cycle ... finance-related ???
> 
> 05092009 ..... short and aggressive rally expected here.
> 
> 07092009 ..... significant and negative news expected here.
> 
> 25-28092009 ..... minor and positive cycle ... finance-related ... ???
> 
> 29-30092009 ..... negative spotlight on MEO
> 
> 14102009 ..... significant and negative news expected here.
> 
> 20102009 ..... another significant and negative time cycle
> 
> 29-30102009 ..... 2 time cycles and positive spotlight on MEO
> 
> 02112009 ..... significant an positive news expected here
> 
> 13112009  ..... another positive cycle ... finance-related ... ???
> 
> 20112009 ..... minor cycle
> 
> 27-30112009 ... minor cycle
> 
> 07122009 ..... minor cycle
> 
> 10122009 ..... significant and negative news expected ... ???
> 
> 28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.
> 
> Updated MEO chart, attached below.
> 
> More later.
> 
> happy trading
> 
> paul
> 
> 
> =====




 

Hi folks,

Have not been holding MEO for a while now, so lost track of 
what is going on ... a check on the MEO chart over the next 
few weeks or so, reveals that December 2009 is likely to be
a very rough time for MEO and January 2010 is not expected 
to be much better.

It seems the best chance for MEO to boom, will be around 
12-18022010 and especially 16-17022010, when positive news 
is expected, on the back of 2 positive time cycles coming 
together, at that time ..... 

..... meanwhile, the MEO chart looks quite negative, from this end ... !~! 

have a great weekend

    paul



=====


----------



## nazzysmith

*Re: MEO - Methanol Australia*

Im total confused that after a day like today that there are no posts here.

The stock was being heavily manipulated this morning. 

With large bids before market open and then removed

Ongoing propping up of the stock through the morning at +50c

Stock losses triggered into the afternoon at .48c knockin out over 2 million shares within a coupe of minutes. 

And a new share price of .47

This could move either way now.

Nazzy


----------



## skyQuake

*Re: MEO - Methanol Australia*



nazzysmith said:


> Im total confused that after a day like today that there are no posts here.
> 
> The stock was being heavily manipulated this morning.
> 
> With large bids before market open and then removed
> 
> Ongoing propping up of the stock through the morning at +50c
> 
> Stock losses triggered into the afternoon at .48c knockin out over 2 million shares within a coupe of minutes.
> 
> And a new share price of .47
> 
> This could move either way now.
> 
> Nazzy




More likely still down. Instos still have lots to sell (60m shares were given in the placement). Maybe 45 or sub 45 now.


----------



## swm79

*Re: MEO - Methanol Australia*

there is lots of stuff going on behind the scenes of this one.

leaving a bad taste in my mouth at the moment, but i'm still green, so i hold

i hold because i believe that the Sp will find its footing down here near 45c because of the instos... i think it may have been manipulated down by those people who missed out on the heavily over subscribed placement. 

will be interesting to see what happens with the oppies on 30 nov - that will signal me as to what to do next - buy more or sell out

i've always classed this as a bottom draw stock, but with the stench of something bad going on behind the scenes i may have to drop them like they're hot


----------



## nazzysmith

*Re: MEO - Methanol Australia*

Well SWM

I hope it works out for you and the other holders.

I got out at 0.55

Meanwhile Monday could be another blood bath and send the stock down another level.

Be aware of the 50cent options managment need to excercise by this monday(correct me if the date is wrong)

Only a retard would do so with the share price down by 20%

Point being this sends a very bearish singal to investors when management do not invest in there own business.

Hopefully we see them bid into the open market to bring the price back up.

This stock is really getting knocked around hard at the moment.

Nazzy


----------



## craigj

*Re: MEO - Methanol Australia*

can anyone explain why this stock has tanked so much pre farm in announcement?
i thought this company had good management?


----------



## Putty7

*Re: MEO - Methanol Australia*



craigj said:


> can anyone explain why this stock has tanked so much pre farm in announcement?
> i thought this company had good management?




If you look back over their chart and compare volume and SP to the dates when the farm in announcement has been indicated to be made, and then delayed, they almost directly correlate. Buyers in at the lead up, out at the delay. The SPP caused most of the SP downtrend as instos got out as previously mentioned by Skyquake, down days last week with the market in general haven't helped, speculation over why Woodside and Apache pulled out or were over looked depending on your view etc etc

As far as management go they have done the SPP while the SP was still reasonably strong so less dillution involved to get the cash and a bit of short term pain for the SP. They are now in a better position to drill themselves if need be to hold their percentage of the block, as I'm pretty sure it is going to come to that. I'm still not holding MEO but may look to re enter in a few weeks in the lead up to a drill announcement if nothing else.


----------



## Lachlan6

*Re: MEO - Methanol Australia*



Lachlan6 said:


> Looking promising. Will look to enter the stock if there is a continued low volume retracement and the stock show's strength in the $0.35 - $0.44 area.




MEO is now in the area I mentioned a little while ago. The only problem is little buying support is around at the moment and furthermore it doesn't look to have corrected for long enough (time) yet. Notice the correction from September 09 to today, is less than half the time that the uptrend from March to September lasted. Another slight worry is the pick up in volume on the way down in the last week or so.

One to definently keep on the watchlist, however if it pushes down through $0.35, most of the sting will have been taken out of the stock.


----------



## bigdog

*Re: MEO - Methanol Australia*

MEO  0.425 +0.020  +4.94%  10,624,407 shares $4,311,502 @ 01-Dec 04:10:56 PM 

01-12-2009 04:32 PM  MEO  MEO Securities as at 1 December 2009 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01018318

MEO SECURITIES AS AT 1 DECEMBER 2009

MELBOURNE, AUSTRALIA (December 1st, 2009) – On 30 November 2009, 3.4 million 50 cent options to "directors and executives" lapsed.

The following tables provide a summary of quoted and unquoted securities as at 1 December 2009.

Number and class of all securities quoted on ASX 477,220,955* Ordinary shares
* Includes 10,122,918 Trustee Scheme Shares 

MEOAQ	1,100,000	30/06/2010 Options	50 cents
MEOAQ	1,100,000	30/06/2011 Options	85 cents
MEOAQ	1,100,000	30/09/2011 Options	120 cents
MEOAQ	2,000,000	30/09/2011 Options	100 cents
MEOAQ	2,000,000	30/09/2011 Options	50 cents
MEOAQ	2,700,000	30/06/2012 Options	50 cents


----------



## TraderMC

*Re: MEO - Methanol Australia*

Hi, to anyone who has been following MEO.  I am only new to them and was wondering if you know much about them besides whats been in the announcements. They are a hard bunch to work out!!


----------



## TraderMC

*Re: MEO - Methanol Australia*



skyQuake said:


> More likely still down. Instos still have lots to sell (60m shares were given in the placement). Maybe 45 or sub 45 now.




Hi, im only new on the forum and not sure where i'm meant to be puting a post, but your the person who seems like your in tune with MEO, so i'll ask you?? I know that the SP and the Dubai crisis was the reason for the sharp falls, but how well does the day to day trading normally hold up.  I got in just before the SP and yesterday and today are the only normal kind of trading days i've experienced. Where do you think it might go from here? Is this back to "normal" trading for them?


----------



## skyQuake

*Re: MEO - Methanol Australia*



TraderMC said:


> Hi, im only new on the forum and not sure where i'm meant to be puting a post, but your the person who seems like your in tune with MEO, so i'll ask you?? I know that the SP and the Dubai crisis was the reason for the sharp falls, but how well does the day to day trading normally hold up.  I got in just before the SP and yesterday and today are the only normal kind of trading days i've experienced. Where do you think it might go from here? Is this back to "normal" trading for them?




MEO doesnt have much mkt correlation; The recent placement of stocks to instos is done and they've sold out. Indeed it has breached 45; but it appears the selling is over for now. I guess its in a retacement phase atm


----------



## TraderMC

*Re: MEO - Methanol Australia*

Thanks for your reply, ill just monitor it i guess, but I agree the selling has slowed down which can only be a good sign I suppose.


----------



## TraderMC

*MEO*

I've noticed that no one is talking about MEO lately??  I believe there should be an announcement coming out shortly regarding the farmin.  Any thoughts from anyone as to where this could be heading? ?


----------



## Putty7

*Re: MEO*



TraderMC said:


> I've noticed that no one is talking about MEO lately??  I believe there should be an announcement coming out shortly regarding the farmin.  Any thoughts from anyone as to where this could be heading? ?




Skyquake would be the best to ask TraderMC, I bought in again yesterday, somewhere around the middle of the month the farm in partner is supposed to have it's AGM where the resolution to take on MEO will or won't be passed, they have now cashed themselves up so I would expect a drill date to be announced soon, before end of year anyway.


----------



## skc

*Re: MEO*



Putty7 said:


> Skyquake would be the best to ask TraderMC, I bought in again yesterday, somewhere around the middle of the month the farm in partner is supposed to have it's AGM where the resolution to take on MEO will or won't be passed, they have now cashed themselves up so I would expect a drill date to be announced soon, before end of year anyway.




Not AGM, but board meeting. The chart looks like retracement may have ended. A good tight entry can be had, but the potential for gap down would probably mean a slightly wider stop / smaller position for traders.

Alternately, buying on open after the announcement (if positive) may also work...


----------



## Putty7

*Re: MEO*



skc said:


> Not AGM, but board meeting. The chart looks like retracement may have ended. A good tight entry can be had, but the potential for gap down would probably mean a slightly wider stop / smaller position for traders.
> 
> Alternately, buying on open after the announcement (if positive) may also work...




My bad, thanks Skc, think you are right, might still be a little bit of up and down for a while until we see something come out, I think they have to announce a drill before year end to keep the block percentage intact so that is something to look to, with regards to the farm in thats still a guess until they actually announce something more detailed, the last announcement raised more questions than it answered, then the cap raising on top of that, the SP didn't have much of a chance to sustain itself, good to see it held as high as it did.


----------



## TraderMC

*Re: MEO - Methanol Australia*

I still can't get over the way it's trading.! It seems to go from one extreme to the next without any justification.  Anyway, I'm still holding to see what the outcome will be from the farmin. Thanks guys for your input!


----------



## TraderJoe

*Re: MEO - Methanol Australia*

Seems everyone is 'exhausted' mentally with MEO's trading. Seems to do it's own thing- rarely correlates with market news. The Farmin is greatly anticipated- let's hope it is not postponed again. This is purely my opinion,but it seems the SP is being 'restricted' from running beyond mid forties at the best of times. Does anyone have a view on this?  Thanks for any input.


----------



## jetboat

*Re: MEO - Methanol Australia*

Seems to me buyers have put the brakes on anything over mid 40's until after the chairman gives his approval "hopfully this week".


----------



## TraderJoe

*Re: MEO - Methanol Australia*

Thanks Jetboat, that is what seems to be the consensus with the stock. Good luck to all awaiting the announcement.


----------



## bigdog

*Re: MEO - Methanol Australia*

*We have all been waiting for an announcement!!!*

18-12-2009 09:47 AM  MEO  Trading Halt  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01023899

MEO Australia Limited Announcement - Request for trading halt

MEO Australia Limited (ASX: MEO) requests a trading halt of its shares of up to 2 days effective immediately pending an announcement regarding a farm-in transaction in relation to MEO’s 70% interest in WA-360-P.

For the purposes of ASX Listing Rule 17.1, MEO provides the following information:

(a) the trading halt is necessary as otherwise trading in MEO shares may take
place in an uninformed market;

(b) MEO requests that the trading halt remain in place until it is in a position to make an announcement to the market regarding the details of the farm-in
transaction. MEO anticipates that an announcement will be made prior to the
commencement of normal trading on 22 December 2009 and the trading halt
will cease at that time; and

(c) MEO is not aware of any reason why the trading halt should not be granted.


----------



## WiseMum

*Re: MEO - Methanol Australia*

Yes - at long last.  The question is whether to hold or take advantage (hopefully) of an upward spike and jump.  I always thought they had potential and i'm inclined to hold ... any thoughts out there to the contrary?


----------



## TraderMC

*Re: MEO - Methanol Australia*

Hi Wisemum,

Everyone has been waiting and I have been in this for quite a while.  If you saw the announcements by MOG yesterday, it was clear that today was going to be the day for the halt, they couldn;t have put it off any longer.  MOG had some good news in their release confirming their 15% stake in Artemis and when the drilling meant to be etc.  so something has definitely been decided from the farmin and sounds like it should be good news. We are all as anxious as you!!! Good luck!!


----------



## TraderJoe

*Re: MEO - Methanol Australia*

Hello Wisemum

I suggest you have a look at MOG. The halt was lifted and MEO SP rose 8.05% to trade at a premium increase of 3.5c to close at 47c. The news suggests that MEO has had a positive result with the Farmin. MOG share price early this morning rose sharply. Alot has been said about MEO but it must be remembered that the company DOES hold 2 valuable permits - one next to an already existing rich gas supply. They obviously need a partner to financially explore the drilling aspect. This is my opinion only, I hope you had a 'decent price' locked in prior to the halt because unless it goes into a Halt Suspension, which looks unlikely, the price will not be Purged and if demand is strong for the share it will quickly execute your price. I did realise that MEO was speculative when I bought it but, nothing ventured, nothing gained (or lost!). To all awaiting the result, good luck


----------



## Putty7

*Re: MEO - Methanol Australia*

I got out of these again not long after getting in for a slight loss as they descended again, wasn't in very heavy so didn't hurt a lot, but not holding at the moment unfortunately. Just watching Moby Oil and Gas (MOG) moving this morning, it bodes well for MEO that the market is anticipating the announcement. It's been a long winded journey with 3 delays to the announcement and a Capital raising thrown in for good measure, Good luck to those who have stuck to their guns and held, I for one will be watching and looking for an entry when they re open.


----------



## TraderJoe

*Re: MEO - Methanol Australia*

It is good to hear that you are still optimistic Putty7. It is a share that has definitely tested everyones' 'threshhold' to say the least!!! My sister and I still hold a substantial amount but we also 'left some money on the table' on Thursday when it decided to rally. Having said that, you need to take a profit when the market offers it. Like you said, you can still buy in when it opens(pending no surprises!). At least it will be a more stable price and pending no more 'Dubai scenarios' it should trade well. 

Yes. MOG certainly did a magnificent dance today. Good luck to those who were at the right place at the right time. 

'Til Tuesday or sooner we wait. After all, were they all 'idiots' who paid up to 47c, I doubt it.


----------



## pan

*Re: MEO - Methanol Australia*



TraderJoe said:


> It is good to hear that you are still optimistic Putty7. It is a share that has definitely tested everyones' 'threshhold' to say the least!!! My sister and I still hold a substantial amount but we also 'left some money on the table' on Thursday when it decided to rally. Having said that, you need to take a profit when the market offers it. Like you said, you can still buy in when it opens(pending no surprises!). At least it will be a more stable price and pending no more 'Dubai scenarios' it should trade well.
> 
> Yes. MOG certainly did a magnificent dance today. Good luck to those who were at the right place at the right time.
> 
> 'Til Tuesday or sooner we wait. After all, were they all 'idiots' who paid up to 47c, I doubt it.




Is there some benefit to mog though if the farm in doesnt go forward? You would think it went up today because of the farm in. But what about if it was negative for meo could it be positive in any sense for mog?


----------



## TraderJoe

*Re: MEO - Methanol Australia*



pan said:


> Is there some benefit to mog though if the farm in doesnt go forward? You would think it went up today because of the farm in. But what about if it was negative for meo could it be positive in any sense for mog?




MOG has a 15% interest in WA-360-P(The Artemis Prospect). Cue holds 15% and MEO farmed into WA-360-P in 2007 for 70%. The MEO terms provide that by 31 Dec 2009 it must either commit to the drilling of a well in WA-360-P or reassign a 35% interest in the permit to MOG and CUE. By making a commitment to drill a well, MEO will thus be required to meet all the costs of that well, including those costs attributable to each of the 15% permit interests held by MOG and CUE. 

The news after MOG came out of the trading halt stated that MEO has made an irrevocable commitment to drill the well. We can only assume they have their farm in. 

Basically,MEO has an excellent permit, 'use it or lose it' to MOG and CUE.


----------



## TraderJoe

*Re: MEO - Methanol Australia*

Wisemum

Just to clarify something I said earlier. If a company goes into a Trading Suspension your order will be purged but if it's only in a Trading Halt you can still Amend/Buy/Sell/Cancel an order. You can on Commsec.


----------



## pan

*Re: MEO - Methanol Australia*



TraderJoe said:


> MOG has a 15% interest in WA-360-P(The Artemis Prospect). Cue holds 15% and MEO farmed into WA-360-P in 2007 for 70%. The MEO terms provide that by 31 Dec 2009 it must either commit to the drilling of a well in WA-360-P or reassign a 35% interest in the permit to MOG and CUE. By making a commitment to drill a well, MEO will thus be required to meet all the costs of that well, including those costs attributable to each of the 15% permit interests held by MOG and CUE.
> 
> The news after MOG came out of the trading halt stated that MEO has made an irrevocable commitment to drill the well. We can only assume they have their farm in.
> 
> Basically,MEO has an excellent permit, 'use it or lose it' to MOG and CUE.




Thanks joe, well said. When is the well going to be drilled? will the company who farms in provide the capital to drill the well?


----------



## Putty7

*Re: MEO - Methanol Australia*



pan said:


> Thanks joe, well said. When is the well going to be drilled? will the company who farms in provide the capital to drill the well?




The announcement should clarify your questions, MEO recently did a cap raising so if they have to drill themselves while things get sorted out with the farminee they have the cash in hand to do so, originally they were looking to be free carried for the well and re imbursed for some exploration expenditure, what the offer is now is anyones guess because they mentioned a LNG facility into the deal so modifications have been made, as mentioned before the last announcement raised more questions than it answered, then a cap raising followed and the SP crumbled, I dare say a lot will want to look at the announcement before jumping in.


----------



## TraderJoe

*Re: MEO - Methanol Australia*



pan said:


> Thanks joe, well said. When is the well going to be drilled? will the company who farms in provide the capital to drill the well?




According to MOG's announcement-2nd half of 2010. Yes, farmin will provide the capital in exchange for up to 50pc equity in MEO. BUT, MEO's recent CR plus money in bank etc must be 'plan b'- fund it themselves. Read on another forum that MEO in the US trades as MEOAF and the stock went up 25% on Friday. I checked after business hours and could not get a 'fresh' price- only had 16Dec price- 41US. Have no reason to doubt the posting. 

Do not know Pan, I would like to tell you it is a sure Win bet Tuesday but at least MEO will get a Place, at worst.

Good luck to all.


----------



## Putty7

*Re: MEO - Methanol Australia*

Meo announcement out and open to trading again, SP up slightly, farminee got board approval, drilling is to be set to hold block percentage, Joint release  of announcements on signing of binding documents.


----------



## bigdog

*Re: MEO - Methanol Australia*

MEO  0.48 +0.010  +2.13%  high of 0.505 7,031,703 shares $3,449,391 @ 21-Dec 10:58:32 AM 

*21-12-2009 10:31 AM  MEO  MOG: WA-360-P Well Commitment from MEO Australia *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01024481

WA-360-P WELL COMMITMENT FROM MEO AUSTRALIA
Moby Oil & Gas Limited (“Moby”) (ASX Code: MOG) advises that MEO Australia Pty Ltd has made a formal election to irrevocably commit to the drilling of the first well in WA-360-P and to pay 100% of the costs of such well.

As a result, Moby will maintain its 15% free carried interest through the drilling of the first well in WA-360-P.

Moby will issue 120,000,000 fully paid shares in Moby to Gascorp Australia Pty Ltd as the consideration for the acquisition of Rankin Trend Pty Ltd, the holder of the 15% interest in WA-360-P.


*21-12-2009 10:19 AM  MEO  WA-360-P Farm-in Progress Report  *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01024459

*Key Points:*
• Farminee has received Board of Director approval to complete farm-in transaction
• Joint release to be made once binding documents have been executed
• MEO triggers well option & commences discussions to secure drilling rig to drill Artemis-1

MELBOURNE, AUSTRALIA (December 21st, 2009) MEO Australia Limited (ASX: MEO) is pleased to advise that its preferred farminee has now received Board of Director approval authorising it to complete the farm-in to Exploration Permit WA-360-P. This approval enables finalisation of the documentation to complete the farm-in which will be subject only to Australian regulatory approvals including the Foreign Investment Review Board (FIRB).

A joint release with details of the farm-in will be made once the agreements have been executed.

Concurrent with this approval, MEO has triggered its option to fund the Permit Year 5 (commencing 1st February 2010) commitment well in WA-360-P, completing its farm-in for a 70% interest in the Permit with Rankin Trend Pty Ltd (a wholly owned subsidiary of Moby Oil and Gas, ASX: MOG) and Cue Exploration Pty Ltd (ASX: CUE). MEO will retain a minimum 20% interest (* refer below) in the permit post farm-out.

Discussions have commenced with drilling rig operators aimed at securing a drilling rig for the second half of 2010 to drill Artemis-1 which is targeting mean prospective resources of approximately 12 Tcf.

*WA-360-P participants Equity*
North West Shelf Exploration Pty Ltd (MEO subsidiary, Operator) 70%*
Cue Energy Resources Limited (ASX: CUE) 15%
Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas (ASX: MOG) 15%

7293


----------



## WiseMum

*Re: MEO - Methanol Australia*

"A joint release with details of the farm-in will be made once the agreements have been executed."

It seems that a partial announcement that excludes the actual naming of the Farminee is a bit disappointing.  Personally I think this is a good second chance opportunity to get on-board.

Let's hope for a more enthusiastic reaction when the joint release is made.


----------



## Putty7

*Re: MEO - Methanol Australia*

Yes they have just clarified what most expected them to do anyway, until they release the actual arrangements won't do a lot, hopefully that won't be to far away.


----------



## TraderMC

*Re: MEO - Methanol Australia*

At least a date given as to when the agreement should be executed by would have been most appreciated!!! Nothing we didn't allready know today! Who? and When? was what everyone was expecting i think, just two MINOR details left out????  It is quite simple really, to have added the extra info but MEO doesn't seem to think that is relevant i suppose??? They are very good at the suspense game?? Only thing I can think off is that they are flat out getting paperwork together that they don't have the time to worry about the shareholders feelings!! Have to laugh on this, i've never seen anything quite like this!!!


----------



## Mozi

*Re: MEO - Methanol Australia*



TraderMC said:


> At least a date given as to when the agreement should be executed by would have been most appreciated!!!




I dare say that the Foreign Investment Review Board (FIRB) will have a large bearing on the timing of this. And MEO don't control the speed (or otherwise) of the FIRB's decisions - or so I assume


----------



## bigdog

*Re: MEO - Methanol Australia*

This article was written before today's MEO ASX ANN and could have assumed that partner would have been included in today's MEO ANN!!

The partner's name was not included in today's ANN.

http://research.scottrade.com/publi...xt=meo&section=headlines&searchtype=0&filter=

*MEO to reveal partner in gas prospect*
Sunday 12/20/2009 6:07 PM ET  - Abix

MEO Australia is expected to announce a partner for its Artemis gas prospect offshore Western Australia on 22 December 2009. The company had been seeking a joint-venture partner for the project during the second half of 2009. It has indicated that the partner is a large international company that is not presently involved in the Australian oil and gas industry. 

Publication Date: 21 December 2009 

MEO AUSTRALIA LIMITED - ASX MEO
PETROBRAS
PETROLEO BRASILEIRO SA
STATOIL AS
CAIRN ENERGY PLC
WOODSIDE PETROLEUM LIMITED - ASX WPL
CHEVRON CORPORATION
CUE ENERGY RESOURCES NL - ASX CUE
MOBY OIL AND GAS LIMITED - ASX MOG


----------



## TraderMC

*Re: MEO - Methanol Australia*

I'm aware that the FIRB needs to approve it all, but I would assume that the documents be signed, stating such conditions, such as the FIRB approval etc.  I wouldn't imagine no documents are being signed until the FIRB approval.  Doesn't sound right.  Binding agreements normally would have conditions, subject to......... etc.  And then put forward to the FIRB which  from my knowledge Meo is expecting an  approval (or disapproval) by feb/march .  Surely an agreement must be executed before they can present it to the FIRB????


----------



## Pivotonian

*Re: MEO - Methanol Australia*



TraderMC said:


> I'm aware that the FIRB needs to approve it all, but I would assume that the documents be signed, stating such conditions, such as the FIRB approval etc.  I wouldn't imagine no documents are being signed until the FIRB approval.  Doesn't sound right.  Binding agreements normally would have conditions, subject to......... etc.  And then put forward to the FIRB which  from my knowledge Meo is expecting an  approval (or disapproval) by feb/march .  Surely an agreement must be executed before they can present it to the FIRB????




Given the time required for approval, I would think you could make an application to FIRB in anticipation of executing a binding agreement.  Otherwise there would often be a hella long time with the parties doing nothing but waiting around for approval.

But that shouldn't hold up the agreement itself - as you say, FIRB approval would normally be a condition precedent to completion of the deal.


----------



## radioham6

*Re: MEO - Methanol Australia*

I see MEO has had a nice rise over this morning. 

Up around 11% at the time of writing......

I can't find any announcements anywhere. 

Has anyone got any news relating to the rise?


----------



## xolstis

*Re: MEO - Methanol Australia*



radioham6 said:


> I see MEO has had a nice rise over this morning.
> 
> Up around 11% at the time of writing......
> 
> I can't find any announcements anywhere.
> 
> Has anyone got any news relating to the rise?




Word's probably got out about identity of farminee in some insider circles... can't think of anything else in recent happenings that could otherwise explain this


----------



## radioham6

*Re: MEO - Methanol Australia*



xolstis said:


> Word's probably got out about identity of farminee in some insider circles... can't think of anything else in recent happenings that could otherwise explain this




Yes sounds about right. As I stated, nothing on the net about answering my questions.....

I also see they received a speeding ticket too from the ASX.


----------



## Solitus

*Re: MEO - Methanol Australia*

I noticed MOG (15% partner for WA-160P)  are up today on no news, and it made me think of MEO.  Still no news on the farm-in front?

I'm half-watching MEO interestedly, although I sold out in the mid-40's.  

Looking at this week's 30min chart, a big drop on Monday's trading as it fell below 40c and looks like it hit a bunch of stops to push it lower, although I suspect this is a false break to the sub-40c mark caused by those same stops?


----------



## bigdog

*Re: MEO - Methanol Australia*

*15/03/2010  9:49:00 AM  TRADING Halt*
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01046676

MEO Australia Limited (ASX: MEO) requests a trading halt of its shares of up to 2 days effective immediately pending an announcement regarding the outcome of the WA-360-P farm-out process.

For the purposes of ASX Listing Rule 17.1, MEO provides the following information:
(a) the trading halt is necessary as otherwise trading in MEO shares may take
place in an uninformed market;
(b) MEO requests that the trading halt remain in place until it is in a position to make an announcement to the market regarding the outcome of the WA-360-P farm-out. MEO anticipates that an announcement will be made prior to the commencement of normal trading on 17 March 2010 and the trading halt will cease at that time; and
(c) MEO is not aware of any reason why the trading halt should not be granted.


----------



## Putty7

*Re: MEO - Methanol Australia*

Sold out of MEO a week ago but still holding MOG, not sure if tomorrow will bring the announcement everyone has been holding for but it would be nice to find out who the farminee is, will be watching for tomorrows announcement as curiosity alone will get the better of me, would be nice to see these get another run and would be happy to try and get in if it happens. It wouldn't surprise me if it was announced before open but hopefully not.


----------



## bigdog

*Re: MEO - Methanol Australia*

First trading halt - Now suspension.  You would think you have everything signed before you effect a trading halt!!! 

*17/03/2010  10:11:00 AM      Suspension from Official Quotation *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01047754

*Request for suspension*
MEO Australia Limited (ASX: MEO) in accordance with Listing Rule 17.2, requests a suspension of the company’s securities.

For the purposes of ASX Listing Rule 17.2, MEO provides the following information:

(a) MEO and its preferred farm-in party (the “Farminee”) require two side
agreements to be executed by all WA-360-P Permit Participants prior to
executing the already finalised farmin agreement. The side agreements were
executed by all parties on 5th March 2010 except for one of the current joint
venture participants.

This joint venture participant has advised it is considering its position in relation to the side agreements.

(b) MEO expects the suspension to last no longer than three trading days.

(c) At the end of the suspension, MEO will either announce that all joint venture particpants have executed the side agreements and the Farminee has executed the agreed farmin agreement or not.

(d) MEO is not aware of any reason why the suspension should not be granted.


----------



## bigdog

*Re: MEO - Methanol Australia*

*MEO SP $0.385 +$0.015 (+4.054%) at 10:49 AM*

Today Opened at 0.340 with High  of 0.420 and Low  of 0.305 

22/03/2010  10:07:00 AM     WA-360-P activity update 
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01048861

*WA-360-P activity update*

Key Points 

Whilst Farm-in terms had been agreed between MEO and preferred farminee, the Farm-in Agreement has not yet been executed 

Side agreements developed to address the establishment of a stand-alone LNG project and to improve aspects of the Joint Operating Agreement (JOA) 

Side agreements were executed by all except one party on 5th March 2010

Remaining party advised on 17th March 2010 it would not execute the side agreements “as currently presented” 

Preferred farminee considering whether 85% alignment is sufficient to proceed 

Preparing to re-open farm-in if transaction cannot be completed 

Option secured over drilling rig for late 3Q/early 4Q drilling of Artemis-1


Melbourne, Australia (22nd March, 2010), MEO Australia Limited (ASX: MEO) advises that all issues in respect of the farm-in agreement and associated side agreements for WA-360-P1 have been agreed with its preferred farminee. Unanimous agreement to the two side agreements was a pre-requisite to execution of the farm-in agreement. Three of the four parties executed the two side agreements on 5th March 2010. The remaining party advised on 17th March that its board would not execute the documents “as currently presented”. MEO has invited the remaining party to table their substantive issues and continues to seek an expedient outcome that is acceptable to all parties.

Background
The preferred farminee was selected on the basis of the tangible benefits it brings to the WA-360-P Join Venture, including:
- An extremely well resourced global energy company who is a recognized technology leader
- Independence from existing and planned LNG projects, allowing the most economically attractive development option to be pursued in the event of exploration success
- The rights conferred upon all parties to participate in a stand-alone LNG project at the same participating interest as its upstream

In October 2009, MEO introduced the WA-360-P partners to the preferred farminee. At this meeting, the requirement for two side agreements to be executed by all parties was tabled, including:

1. A Heads of Agreement (HoA) to facilitate alignment and effective operation of the proposed joint venture with respect to the potential implementation of an integrated LNG project in the event of exploration success; and

2. A side letter acknowledging certain requirements. The side letter subsequently developed into an Acknowledgement and Amendment Agreement (AAA) which included minor amendments to clarify and improve certain operating aspects of the Joint Operating Agreement (JOA) requested by the preferred farminee.

The HoA and AAA were subsequently executed by three of the four parties on 5th March 2010. On 17th March the remaining party advised MEO that its board “is unable to agree to the documents as currently presented”. MEO remains actively engaged with this party to ascertain what their substantive issues are and will endeavour to have these resolved to the satisfaction of all parties.

Concurrently, the preferred farminee is evaluating the implications of proceeding with the transaction where three of the four parties representing 85% of the Joint Venture have committed to the side agreements. MEO expects to be advised of this decision once the evaluation has been completed.

Implications
Irrespective of the outcome of this transaction, MEO is committed to drilling the ~12 Tcf2 Artemis prospect in 2010 and has secured an option over a drilling rig for a spud date between 1st September 2010 and 1st December 2010. The funds raised from sophisticated and professional investors in late 2009 are considered sufficient to underpin the drilling of Artemis-1.

While the Company continues to expend every effort to ensure that the farm-in transaction as envisaged will be consummated, MEO is preparing to re-open the farm-in opportunity in the event that the preferred farminee elects to withdraw from the transaction.


----------



## Pivotonian

*Re: MEO - Methanol Australia*

Hmmmm, so MEO closed down 1c at 36c, with the identity of the farminee still unknown.

I wonder if the "renegade" partner is CUE or MOG?


----------



## AngusSmart

*Re: MEO - Methanol Australia*

Present interests in WA-360-P are:
MEO (North West) 70% And operator
Moby (Rankin Trend)	15% 
Cue Energy Resources Ltd (Cue Exploration Pty Ltd)	15%

they were talking about 3 out of 4 agreeing but i count 100% there.. or was Meo trying have less stake in it all


----------



## Pivotonian

*Re: MEO - Methanol Australia*



AngusSmart said:


> Present interests in WA-360-P are:
> MEO (North West) 70% And operator
> Moby (Rankin Trend)	15%
> Cue Energy Resources Ltd (Cue Exploration Pty Ltd)	15%
> 
> they were talking about 3 out of 4 agreeing but i count 100% there.. or was Meo trying have less stake in it all




As I read it, the three parties to sign the documents are MEO, the farminee and one of CUE/MOG.  The fourth that has refused is the other of CUE/MOG.


----------



## happytown

*Re: MEO - Methanol Australia*



bigdog said:


> ...
> 
> The HoA and AAA were subsequently executed by three of the four parties on 5th March 2010. On 17th March the remaining party advised MEO that its board “is unable to agree to the documents as currently presented”. MEO remains actively engaged with this party to ascertain what their substantive issues are and will endeavour to have these resolved to the satisfaction of all parties.
> 
> ...




CUE is the party that "is unable to agree to the documents as currently presented."

from their ann yesterday



> ...
> 
> CUE is not a party to those negotiations, but has been asked to vary a number of significant provisions of the current JVOA (together with a Heads of Agreement WA-360-P).
> 
> In our view the proposed amendments disadvantage Cue and its shareholders relative to the status quo. We are continuing discussions in an attempt to resolve these differences.
> 
> ...


----------



## bigdog

*Re: MEO - Methanol Australia*

*Indicated opening SP currently +$0.045 (+12.329%) @ Wed 14 Apr 2010 9:57 AM *

*Share price close & volume for four past days*
Date.......... ..Close ....Volume  
13-Apr-2010 0.3650 2,737,801 
12-Apr-2010 0.3700 4,872,295  
09-Apr-2010 0.3600 3,436,927  
08-Apr-2010 0.3450 2,563,116  

*Almost there!!*
"Farm-in is subject to Australian regulatory approvals including Foreign Investment Review Board"

*ASX ANN TODAY*

14/04/2010  9:39:00 AM      *MEO Executes binding farm-in agreement *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01054695

*MEO Executes binding farm-in agreement with Petrobras International Braspetro BV*

*Key Points:* 
● MEO executes binding farm-in agreement for Exploration Permit WA-360-P with Petrobras International Braspetro BV, a subsidiary of Petrobras, Brazil’s National Oil Company

● MEO to be free carried for up to three wells and receive a cash consideration/bonus

● Farm-in is subject to Australian regulatory approvals including Foreign Investment Review Board

MELBOURNE, AUSTRALIA (April 14th, 2010) MEO Australia Limited (ASX: MEO) and Petrobras International Braspetro BV - a subsidiary of Petrobras, Brazil’s National Oil Company - have executed a binding farm-in agreement for the WA-360-P Exploration Permit in the Carnarvon Basin, offshore Western Australia.

*Key terms of the farm-in agreement include:*
- Petrobras to earn 50% equity in WA-360-P by funding 100% of the first well to a cap of US$41m (MEO retains 20% interest)
- Upon receipt of all regulatory and Australian Government approvals, including Foreign Investment Review Board approval, Petrobras will pay MEO a cash bonus of US$31.5 million and reimburse MEO’s share of the past costs of approximately US$7.5 million
- In the event of a successful discovery, Petrobras will carry MEO’s share of the cost to drill and test two follow up wells in the Permit to a cap of US$62 million per well, together with payment of an additional US$31.5m cash bonus in January 2011
- MEO to remain Operator until the completion of the first well after which Petrobras has the option to assume Operatorship

The farm-in represents Petrobras’s initial entry into the Australian petroleum industry and is subject to receipt of relevant Australian regulatory and Governmental approvals including Foreign Investment Review Board approval. Applications seeking these approvals are in preparation.

MEO has secured an option over a drilling rig to drill the first well, Artemis-1, in late 2010. The Artemis prospect is estimated to contain mean prospective resources of approximately 12 Tcf proximal to established and planned LNG processing infrastructure.

*WA-360-P Participants*
Petrobras International Braspetro BV (a subsidiary of Petrobras) 50%*
North West Shelf Exploration Pty Ltd (MEO subsidiary) 20%*
Cue Energy Resources Limited (ASX: CUE) 15%
Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas (ASX: MOG) 15%

3611


----------



## doogle

*Re: MEO - Methanol Australia*

OK finally after all this time we are off!!! The Brazilians are here for the first time too - this is interesting stuff. I imagine this will make some impact in the wider market/news. 

OK now we can really watch the share price with interest. Long time holder with enormous patience.


----------



## bigdog

*Re: MEO - Methanol Australia*



doogle said:


> OK finally after all this time we are off!!! The Brazilians are here for the first time too - this is interesting stuff. I imagine this will make some impact in the wider market/news.
> 
> OK now we can really watch the share price with interest. Long time holder with enormous patience.




*The market loved the announcement with the share price +$0.095 +(26.027%) with Volume  15,298,223  @ Wed 14 Apr 2010 10:11 AM*


----------



## gamelodge

*Re: MEO - Methanol Australia*

Now What? ........ - is it going up or down? 

Such a manipulated stock this one! - At the 37.5 resistance today


----------



## radioham6

*Re: MEO - Methanol Australia*

Meo up by 13.4 % at the time of writing @ 37.5 cents........ with 8.5 mil traded today...

Can't find anything mentioned to contribute to todays activity

Clues?


----------



## BESBS Player

*Re: MEO - Methanol Australia*

G'day RH6,

Maybe I can shed some light on recent SP strengthening.

In my case, I have decided to start to accumulate a stake in MEO as a potential BESBS play (with scope to leave some money on the table if the SP and drill plays out well) for the Artemis drilling. Plenty of time for entry remains. With drilling probably 4 months away, there is still time for buying on possible dips. Nevertheless, like MMR, the better BESBS plays are starting to become attractive again so many punters are getting set early as a lower entry price to help increase the prospect of gaining a profit. 

While I shall look to add as we go, 36c seems a reasonable starting point given the cash backing, a rig is booked, the likelihood of market interest in this drill should be reasonable, and finally MEO have raised cash at 45c late last year - a guide for me that the market (assuming fair conditions) will probably at least that level when drilling is close at hand (although I would be hoping for a higher SP pre-spud than 45c). 

Getting set for a slow yet hopefully fruitful journey with MEO. 

All the best with your investments.


----------



## BESBS Player

*Re: MEO - Methanol Australia*

While I doubt that the SP can hold without further significant news in the immediate timeframe, the general response of the market to today's Investor Update was positive.  Nice to see the SP hit 40c...

Holding MEO at 36c ave.


----------



## BESBS Player

*Re: MEO - Methanol Australia*

Nice to see that the Songa Venus rig is drilling close to schedule at present.

With an ounce of luck, drilling should occur at A#1 late this year. :


Holding MEO at 36c


----------



## BESBS Player

*Re: MEO - Methanol Australia*

Looks like some of the Buy Early Sell Before Spud (BESBS) players are now getting set. At this stage, it looks like drilling shall be close to schedule.

The Baillieu Research on MEO Australia makes an interesting read and probably explains why some punters are looking this way.

http://www.meoaustralia.com.au/page/Investor_Relations/ 


Cheers,
BESBS

Holding MEO at 36c ave


----------



## bigdog

*Re: MEO - Methanol Australia*

*SP today : Last Price ($A) $0.4350  Change +0.0450  +11.5% *

Date........	Close	Volume
14-Sep-10	0.39	2,999,838
13-Sep-10	0.395	3,380,769
10-Sep-10	0.375	1,225,856
09-Sep-10	0.375	4,703,647
08-Sep-10	0.36	1,963,790
07-Sep-10	0.365	1,800,578
06-Sep-10	0.36	1,731,857
03-Sep-10	0.36	1,373,836
02-Sep-10	0.36	2,261,328
01-Sep-10	0.355	2,425,903
31-Aug-10	0.345	2,225,993


http://www.meoaustralia.com.au/icms...approval_for_Petrobras_farmin_to_WA-360-P.pdf

*MEO receives final regulatory approval for Petrobras farmin to WA-360-P*
*Key Points: *

Final Australian regulatory approval received for Petrobras Farmin to WA-360-P Petrobras now registered on WA-360-P title and is a Joint Venture participant Songa Venus on track to commence drilling Artemis-1 in November 2010

MELBOURNE, AUSTRALIA (15th September, 2010) MEO Australia Limited (ASX: MEO) is pleased to advise that the Designated Authority has approved and registered the dealing in relation to the acquisition by Petrobras of a 50% interest in exploration permit WA-360-P from MEO. All conditions precedent in relation to this transaction have now been fulfilled.

With this approval, Petrobras is now registered on title in WA-360-P and has become a participant in the Joint Venture. In accordance with the WA-360-P Farmin Agreement, MEO will now invoice Petrobras for the seismic related back costs (~US$7.5 million) together with the 1st cash bonus (US$31.5 million).

The handover of the Songa Venus drilling rig from Shell, the current rig operator, to undertake the drilling of the Artemis-1 well in WA-360-P, remains on track for early November 2010.

*WA-360-P Participants  ------------------------------------------------------Equity*
Petrobras International Braspetro BV (a subsidiary of Petrobras) 50%
North West Shelf Exploration Pty Ltd a wholly owned subsidiary of MEO 25%*
Cue Energy Resources Limited (ASX: CUE) 15%
Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas (ASX: MOG) 10%* 

* Following receipt of Australian regulatory approval of equity transfer JÃ¼rgen Hendrich

7150


----------



## BESBS Player

*Re: MEO - Methanol Australia*

MEO seems to have gained some ground. Now seems to be sitting around the 44c mark.

Drilling seems to be on schedule for November.  The next announcement could be the resource estimate for Heron from Schlumberger, from memory due around the end of the month. Hopefully the market will like this news and give extra confidence to speculators wondering whether MEO have good potential projects outside the A#1 drill.

Happily holding at present.


Holding MEO at 36c ave  


PS. Good post, Bigdog


----------



## leedleed45

*Re: MEO - Methanol Australia*

Does anyone have any updates / comments on this stock?

Holding at 38 cents average.


----------



## BESBS Player

*Re: MEO - Methanol Australia*

More to come, LL.

Spud not far away. Still time for a small flurry to come in. Industry still keen to see how this one goes. I'd be holding but that is just my opinion. As a BESBS, it is still a way off yet but so far the SP performance has been pleasing.


----------



## BESBS Player

*Re: MEO - Methanol Australia*

Happy with the gains to date and want the cash to get set elsewhere.
This was always a BESBS play and I shall stick with my disciplines.

Good luck to holders.



Bought 36c ave.
Sold at 56c ave.
Profit: 55%


----------



## skc

*Re: MEO - Methanol Australia*



BESBS Player said:


> Happy with the gains to date and want the cash to get set elsewhere.
> This was always a BESBS play and I shall stick with my disciplines.
> 
> Good luck to holders.
> 
> 
> 
> Bought 36c ave.
> Sold at 56c ave.
> Profit: 55%




Nice one. I for one applaude you for sticking with your strategy. You are the only person on this forum who can succinctly express his/her trading strategy in their name.


----------



## bigdog

*Re: MEO - Methanol Australia*

The MEO share price has going great guns in recent times!

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01123595

*23/11/2010  9:21:00 AM     Trading Halt *

MEO Australia Limited Announcement
*Request for trading halt*

MEO Australia Limited (ASX: MEO) requests a trading halt of its shares for up to 2 days effective immediately pending an announcement regarding the outcome of a potential capital raising by MEO.

For the purposes of ASX Listing Rule 17.1, MEO provides the following information:

(a) the trading halt is necessary as otherwise trading in MEO shares may take place in an uninformed market, and to allow the capital raising to take place in an orderly fashion;

(b) MEO requests that the trading halt remain in place until it is in a position to make an announcement to the market regarding the outcome of the potential capital raising. MEO anticipates that an announcement will be made prior to the commencement of normal trading on 25 November 2010 and the trading halt will cease at that time; and

(c) MEO is not aware of any reason why the trading halt should not be granted.

9275


----------



## bigdog

*Re: MEO - Methanol Australia*

*SP MEO 0.540  $-0.045 (-7.692%) @ Thu 25 Nov 2010 10:30 AM (Sydney time) *

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01124861

ASX & Media Release
*Completes targeted placement to raise $32.6 million*

*Key Points:* Places 62.8 million shares at $0.52 to raise gross proceeds of $32.6 million Welcomes new institutional investors from North America and the United Kingdom Cash reserves increased to approximately $100 million

MELBOURNE, AUSTRALIA (25th November, 2010)

MEO Australia Limited (ASX: MEO; OTC: MEOAY) advises that it has completed a targeted placement of approximately 62.8 million shares (representing a 13.2% increase in issued capital) at $0.52 per share to raise $32.6 million before costs associated with the transaction. The placement was made predominantly to North American and UK based institutional investors without a disclosure document under the company’s 15% placement capacity as described under ASX listing rule 7.1.

This initiative was undertaken to broaden investor interest and strengthen the shareholder base by introducing key international institutional investors onto the register ahead of the Artemis-1 outcome. The appetite evident from prospective investors during road shows recently conducted in North America and London could not otherwise have been satisfied in the limited timeframe available ahead of this result.

The proceeds of the placement will boost MEO’s cash reserves to in excess of $100 million which will be used to underpin the company’s growth aspirations, including but not limited to, advancing the approved Tassie Shoal gas processing projects.

While several potential acquisition targets have been considered, no opportunity has satisfied MEO’s strict technical and commercial criteria to date. The company is committed to pro-actively pursuing high quality new venture opportunities.


----------



## bigdog

*Re: MEO - Methanol Australia*

*MEO SP MEO $0.500  $+0.070 (+16.279%) @ Mon 06 Dec 2010 10:30 AM*

06/12/2010   Artemis-1 Progress Report No. 5  

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01129373

*Artemis-1 Progress Report No. 5*

*Key Points:* 
- Artemis-1 has been drilled to 2,936m 
- An over-pressured gas zone encountered above the primary objective 
- Well is presently circulating 11.0ppg mud to enable resumption of drilling operations

MELBOURNE, AUSTRALIA (6th December, 2010)
MEO Australia Limited (ASX: MEO; OTC: MEOAY) advises that since the last progress report, the BOP’s have been run and tested. The 12- ¼” hole commenced drilling at 21:30 hrs (Perth time) on Friday 3rd December and has been drilled to a depth of 2,936m.

The well was shut in at 18:00 hrs on Sunday 5th December after encountering an over-pressured gas zone above the primary objective.

Present activity is circulating 11.0ppg mud to enable resumption of drilling operations including running the contingent 9-5/8” casing string before drilling ahead to the primary objective.

9883


----------



## bigdog

*Re: MEO - Methanol Australia*

*MEO $0.230  $-0.275 (-54.455%) @ Mon 13 Dec 2010 2:35 PM *

http://wotnews.com.au/view/5997319/

*Setback for Petrobras as MEO declares 'no gas' at Artemis-1 UPDATED
*Ross Kelly From: Dow Jones Newswires December 13, 2010 1:25PM 

MEO Australia said today a key exploration well offshore Western Australia didn't find any gas, sending its shares down nearly 65 per cent. 

MEO said the Artemis-1 exploration well near the established Pluto and Wheatstone gas fields didn't find hydrocarbons in its target zone after reaching a full depth of 3500 meters.

Brazilian oil giant Petrobras will be disappointed, having bought 50 per cent of the related permit in April in its first ever Australian foray.

There were hopes that MEO, Petrobras and smaller joint venture partners Cue Energy Resources and Moby Oil & Gas would find enough molecules to support a large gas export plant but an MEO spokesman said the well always had about a 32 per cent chance of success.

"We believe that all the preparation, the seismic (data) was appropriate for the prospect. It was assessed and approved by the technical team of one of the world's major oil and gas companies," he said.

While Australia's natural gas industry is booming with close to a dozen export plants slated for its coastline, MEO and Petrobras's experience is a reminder that deepwater exploration is fraught with risk.

Artemis-1 was a wildcat well, meaning that it wasn't drilled in a known gas field.

AWE drilled a number of unsuccessful wildcats this year, cutting its share price in half.

Thankfully for MEO, Petrobras in April agreed to fund 100 per cent of Artemis-1 to a cap of $US41 million ($42m). But it only agreed to fund two follow-up wells in the event of a successful discovery.

While MEO's spokesman said it's too early to tell if any more wells will be drilled, he added that MEO has other projects it can pursue.

These include developing the Heron gas discovery in the Timor Sea made in 2008, for which MEO is still talking to possible farm-in partners to help it commence appraisal drilling next year, he said. The company also wants to build a methanol processing plant in the Northern Territory by 2012.

MEO, which owns 25 per cent of the Artemis prospect, has more than $100m of uncommitted funding in the bank, having received $US39m from Petrobras in October.

Shares in the unsuccessful well's smaller joint venture partners, Cue Energy and Moby Oil & Gas, had fallen 20 per cent and 65 per cent, respectively, by early afternoon.

MEO fell as much as 64.7 per cent to 18 cents in early trading today and by late afternoon was down 53 per cent at 23.5c. The benchmark S&P/ASX 200 index was 0.6 per cent higher.

Artemis-1 encountered an over-pressured gas zone above the primary objective last week, raising hopes of a large discovery.


----------



## Sirbill

*Re: MEO - Methanol Australia*

Anyone know how many shares Credit Suisse Holdings Australia bought on the 27/1/11. Looks like someone bought up big. Think they went through 36 million shares!


----------



## bigdog

*Re: MEO - Methanol Australia*

http://www.businessspectator.com.au...EO-Australia-stake-DH8LL?opendocument&src=rss

Credit Suisse increases MEO Australia stake
Published 3:57 PM, 27 Jan 2011 
Source: News Bites

Credit Suisse Holdings (Australia) Ltd became a substantial shareholder of MEO Australia Ltd with 27,663,769 shares (5.12%) on January 25, 2011.


----------



## Sirbill

*Re: MEO - Methanol Australia*

Thanks bigdog


----------



## Burnhard83

*Re: MEO - Methanol Australia*

MEO A. has been through some tough times.

Looks like they are picking up the pace again, the deal with ENI. The stake given to ENI is quite big, but the conditions are great.

http://www.meoaustralia.com.au/icms_docs/94779_MEO_executes_NTP68_farm-in_agreement_with_ENI_-_18_May_2011.pdf

Might be worth picking up the discussion here...


----------



## Gringotts Bank

*Re: MEO - Methanol Australia*

Chart looks ripe for something big.  Fundamentals unimpressive however.  Needs a few more 10mill volume days.


----------



## Bibimbap

*Re: MEO - Methanol Australia*

Had a good run recently to 38.5cents but pulled back in the past 2 days to An intra - day low of around 30c.
Seems to have good portfolio of resources n book value 39c.

What do u think...likely to continue its upward trend to around 42cents... Or will run out of puff ?

http://www.proactiveinvestors.com.a...cked-and-diving-into-new-oil-plays-26132.html


----------



## BESBS Player

*Re: MEO - Methanol Australia*

Hi all,

Been buying in over the last 2 weeks on the dips. Has many of the characheristics of a classic BESBS play.

Will write more once finished buying in...about 20% to go.

Current purchase ave. 24.75c


----------



## BESBS Player

*Re: MEO - Methanol Australia*

Have bought in to MEO over the last few weeks on dips.

Hoping to see it as a pure BESBS play leading into Q3 drilling. Should have enough drilling activity to come and the SP seems to be steady around the 23-25c range. Happy to take a chance here. I'd be happy with anything into the low-mid 30c range going into Heron. The company has a history of significantly higher share prices leading into drills. Sure the market is ordinary at present but only recently it ran above 30c. Decent target, drill and rig set. Lets see how it goes...

Holding MEO at 25c ave.


----------



## BESBS Player

*Re: MEO - Methanol Australia*

Looks like drilling is now approaching. Announcement out suggesting mid-August. 
Hoping to see some volume build as drilling approaches.

Holding MEO at 25c ave.


----------



## BESBS Player

*Re: MEO - Methanol Australia*



BESBS Player said:


> Looks like drilling is now approaching. Announcement out suggesting mid-August.
> Hoping to see some volume build as drilling approaches.
> 
> Holding MEO at 25c ave.




Disappointing finish for MEO. Although management tried to put out a couple of announcements to move the SP, little has happened. I finished selling out yesterday. One can't go broke if one makes a small profit and plays the market as it is operating at the time. I think a duster here at Heron will impact significantly on the SP given the market at present. Sticking to discipline here is paramount for me. 

Not big BESBS runs happening close to drill at present. Time to get set in slightly earlier ones. This strategy worked well as the GFC impacted. 
LKO (in the lead to the first Wombat drilling) .004c to .014c and BKP 0.003 & 0.004c to .018c range were such examples of early buys and 12 months of patience.

Bought 25c
Sold 25.8c ave
Profit: 3% (better than bank interest when annualised but nothing exciting)


----------



## bigdog

*Re: MEO - Methanol Australia*

27/11/2012   Suspension from Official Quotation  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01360441

MEO Australia Limited - Request for Voluntary Suspension

In accordance with Listing Rule 17.2, MEO Australia Limited (ASX: MEO) requests a voluntary suspension of its shares effective immediately pending completion of production testing the lower zone of interest in the Heron South-1 exploration well in NT/P68.

For the purposes of ASX Listing Rule 17.2, MEO provides the following information:
(a) the voluntary suspension is necessary as otherwise trading in MEO shares may take place in an uninformed market;
(b) MEO requests that the voluntary suspension remain in place until it is in a position to make an announcement to the market regarding production test results. MEO anticipates that an announcement will be made 28th November 2012 and the voluntary suspension will cease at that time; and
(c) MEO is not aware of any reason why the voluntary suspension should not be granted.

8631


----------



## bigdog

*Re: MEO - Methanol Australia*

Results of last weeks trading halt was disappointing with SP dropping bigtime

ASX Ann for Trading Halt today!

04/12/2012   Trading Halt  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01363844


MEO request for trading halt:
Stocks edged lower on Wall Street Monday after a surprisingly weak manufacturing report heightened concern that fiscal deadlock in Washington is already hurting the economy. 

The Dow Jones industrial average fell 59.98 points to close at 12,965.60. The Standard and Poor's 500 dropped 6.72 points to 1,409.46. The Nasdaq composite was down 8.04 points to 3,002.20 

U.S. manufacturing declined in November to its weakest level since July 2009, the Institute for Supply Management reported. The ISM's index fell to 49.5 from 51.7 a month earlier, below the 51.2 reading forecast by analysts. Any number below 50 on the scale means that manufacturing is contracting. Businesses expressed concerns about the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. 

"The ISM numbers probably took a little air out of what was some hope for better news on where the economy is going," said Jim Dunigan, executive vice president at PNC Wealth Management in Philadelphia. "We're still in the camp that this gets resolved and we don't go over the cliff, but there's a lot of angst between now and then." 

The White House and Congress are still seeking to hammer out a budget deal that will avoid the "cliff." Republicans, led by House Speaker John Boehner, have balked at President Barack Obama's opening proposal of $1.6 trillion in higher taxes over a decade, a possible extension of the temporary Social Security payroll tax cut and heightened presidential power to raise the national debt limit. 

House Republicans on Monday proposed their own 10-year blueprint to President Barack Obama that calls for increasing the eligibility age for Medicare and lowering cost-of-living hikes for Social Security benefits. 

"There's a sense of insecurity until the President and Boehner get their act together," said Ben Schwarz, chief market strategist at New York-based brokerage Lightspeed Financial. "If they put together a package in short order, if they do it in the next couple of weeks, you'll see a strong rally." 

Stocks have fluctuated since the Nov. 6 election as investors worried that a deal may not be reached in time to avoid the tax hikes and spending cuts, which economists say could push the U.S. back into recession. The S&P 500 is still 1.3 percent below its closing level on the day that Americans went to the polls, having fallen as much as 5 percent in the weeks following the election. 

Wall Street opened higher Monday following news that manufacturing in China, the world's second-largest economy, grew for the first time in 13 months and after Greece announced details of a bond buyback program. The Dow had been up as much as 62 points shortly after the opening bell. 

December is historically the best month for stocks. The S&P 500 has advanced an average of 2 percent over the past 30 years during the month of December, according to research from Schaeffer's Investment Research. The next best month is April, with an average return of 1.7 percent. The worst month is September, where investors lose an average of 0.7 percent.


----------



## bigdog

*Re: MEO - Methanol Australia*

ASX Announcement
*22/07/2013 		WA-454-P farm-out agreement executed with Origin Energy *
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01426571

ASX & Media Release
*WA-454-P farm-out agreement executed with Origin Energy

Key Points:*
• MEO farms out 50% of WA-454-P to Origin Energy
• Origin Energy will assume operatorship of the permit
• Origin Energy to pay MEO A$5.6 million back costs and fund 80% of Breakwater-1
• Breakwater-1 to satisfy Permit year 5 work obligation (9 June 2015 – 8 June 2016)
MELBOURNE, AUSTRALIA (22nd July 2013)

MEO Australia Limited (ASX: MEO; OTCQX: MEOAY) advises that its wholly owned subsidiary Drysdale Offshore Exploration Pty Ltd (Drysdale) has executed a binding farm-out agreement (FOA) in relation to WA-454-P with Origin Energy Resources Limited, a wholly owned subsidiary of Origin Energy Limited. The FOA is subject to customary Australian regulatory approvals and the finalisation of a Joint Operating Agreement.

Origin Energy will acquire a 50% participating interest in the permit by reimbursing 80% of the costs expended by Drysdale in the permit to date and funding 80% of the cost of drilling an exploration well on the Breakwater prospect. Origin Energy will become Operator of the permit.

The untested cost of the exploration well is capped at A$35 million①. A mechanism has been agreed to adjust the cap for US$/A$ exchange rate fluctuations from a 1:1 base. Costs exceeding this cap, including production testing (if required), will be funded by the parties according to their participating interests.

The reimbursement of back costs will be made in two equal tranches of A$2.8 million. The first will be paid upon receipt of regulatory approval of the permit transfer and the second in July 2014.

MEO’s CEO and MD JÃ¼rgen Hendrich commented on the announcement:
“We are delighted to have attracted Origin Energy as our partner to unlock the tremendous opportunities we see in WA-454-P. MEO considers the Breakwater prospect has the potential to host significant gas and possibly liquids resources which, in the event of exploration success, would readily feed into a growing regional gas market.

This project has evolved in a little over 2 years from acreage award in June 2011, acquisition of 3D seismic in early 2012, to the execution of a binding farm-in agreement in July 2013. It demonstrates MEO’s business model of securing prospective acreage, adding value by undertaking diligent technical work and attracting a substantial partner to recover invested capital and fund the majority of drilling costs, while retaining a material residual interest.

MEO will seek to defray the residual 20% cost exposure to Breakwater-1 prior to drilling.”

*WA-454-P Location Map*


----------



## bigdog

*MEO - MEO AUSTRALIA LIMITED*

Strange that I could not find MEO using search

ASX ANN today
MEO 	11/12/2013 	11:16:22 AM 			Trading Halt 

11 December 2013
MEO Australia Limited
*TRADING HALT*
The securities of MEO Australia Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Friday, 13 December 2013 or when the announcement is released to the market.

*Request for trading halt*
MEO Australia Limited (ASX: MEO) requests a trading halt of its shares for up to 2 days effective immediately pending a decision to conduct a production test on the Blackwood-2 exploration well by NT/P68 Operator, Eni Australia Limited.

For the purposes of ASX Listing Rule 17.1, MEO provides the following information:
(a) the trading halt is necessary as otherwise trading in MEO shares may take place in an uninformed market;
(b) MEO requests that the trading halt remain in place until it is in a position to make an announcement to the market on whether a production test of the Blackwood-2 exploration well will be undertaken by NT/P68 Operator, Eni Australia Limited. MEO anticipates that an announcement will be made prior to the commencement of normal trading on 13th December 2013 and the trading halt will cease at that time; and
(c) MEO is not aware of any reason why the trading halt should not be granted.


----------



## bigdog

*Re: MEO - MEO Australia*

ASX Ann today

MELBOURNE, AUSTRALIA (13th December, 2013)

*Blackwood-2 Progress Report No.7*
*Key Points:*
• Wireline logging, pressure testing and side wall coring program complete
• Gas shows have been observed below the previously interpreted gas water contact
• Production testing to resolve fluid phase uncertainty and reservoir productivity

MEO Australia Limited (ASX: MEO; OTCQX: MEOAY) advises that the wireline logging, pressure testing and coring program at Blackwood-2 has been completed. The presence of gas and
reservoir productivity could not be conclusively established during this wireline logging phase.

MEO has been advised by the NT/P68 Operator that Blackwood-2 will be production tested to resolve uncertainties regarding fluid content and reservoir productivity.

Test interval(s) are yet to be advised and will be reported in due course

*Progress Summary*
Progress since last report:
− Carried out wireline logging and side wall coring program
− Ran 178mm (7”) liner
Present Operation (at 06:00 Darwin time, 13th December 2013) :
− Completing installation of 178mm (7”) liner
Outlook:
− Complete installation of 178mm (7”) liner
− Carry out production test
− Plug and abandon well

*The market did not like the ANN:*

*    MEO     $0.050      $-0.011 (-18.03%) @ MEO AUSTRALIA LTD FPO (ORDINARY FULLY PAID) Fri 13 Dec 2013 10:45 AM *


----------



## Anmar

*Re: MEO - MEO Australia*

Methinks MEO has good prospects of finding "dryholes"!

The share price on 29th August 2010 was $0.345!


----------



## bigdog

*Re: MEO - MEO Australia*

MEO 	10/04/2014 	9:59:12 AM 		MEO Australia Limited announces Share Purchase Plan

Underwritten Share Purchase Plan to fund New Zealand work program
*Key Points:*
• MEO launches Share Purchase Plan (“SPP” or “Offer”) to existing shareholders to fund Phase-1 program of the New Zealand (Puka) farm-in.

• SPP offered at 20% discount to the average market price of MEO’s shares quoted on the ASX during the 5 trading days immediately prior to and including the SPP closing date.

• Patersons Securities Limited is Lead Manager and Underwriter to the Offer and has underwritten the SPP to MEO’s 15% placement capacity.

MELBOURNE, AUSTRALIA (10th April, 2014)
MEO Australia Limited (ASX: MEO) advises that it will be offering existing eligible shareholders the opportunity to participate in the SPP. Shareholders who are recorded on the share register as at 7:00pm AEST on Wednesday 9th April, 2014 with a registered address in either Australia or New Zealand will be eligible to participate in the SPP.

The SPP is partially underwritten by Patersons Securities Limited to MEO’s 15% placement capacity and will raise in the order of A$2.9 million depending on final pricing. MEO reserves the right to accept oversubscriptions above the underwritten amount at its discretion as permitted by the ASX Listing Rules. Funds raised will be used for the firm Phase I work program designed to enhance production from the Puka oil accumulation, onshore New Zealand (refer details in ASX release dated 7th April 2014).

3242


----------



## bigdog

*Re: MEO - MEO Australia*

What they needed the money for!!

http://www.lse.co.uk/AllNews.asp?co...pproval_For_Puka_Site_Deal_With_MEO_Australia

*Kea Petroleum Granted Approval For Puka Site Deal With MEO Australia*
Fri, 2nd May 2014 12:20

LONDON (Alliance News) - Kea Petroleum PLC Friday said that approval has been granted for the company to transfer a 30% participating interest in petroleum exploration permit PEP51153 licence, located onshore in Taranaki in New Zealand, to MEO Australia Ltd.

Kea said PEP51153 contains the Puka discoveries and the suspended Douglas well.

The New Zealand-focused oil and gas company said that New Zealand government consent has been granted for the transfer. The consent was the final condition to approve the transfer under the staged farm-out agreement.

Last month, Kea said it had agreed to a NZD14 million staged work programme on site to boost production and further appraise the Puka discovery.

As part of the deal, MEO Australia will earn a 30% interest in the site via a payment of NZD4 million in order to complete the phase 1 plan for the site, which consists of the workover of both existing Puka wells to boost production, drilling of a new well, and testing of the suspended Douglas 1 well.

Following the completion of this, MEO can elect to earn a further 20% interest in the site, within six months, through a further payment of NZD7.5 million, which will be used for a second phase on site.

The second phase would include the construction of a new central drilling and production facility, drilling of further appraisal wells and horizontal drilling techniques.

Kea said its phase 1 plan is scheduled to start at the end of June.

Both work programme phases are designed to move the discovery towards full field development in 2016 by reducing uncertainties in relation to resource size and recovery, the company said.

Kea said that at the conclusion of Phase 1 or 2, both parties have agreed that MEO Australia has the option to enter into negotiations to acquire KEA's remaining interest in the permit.

Kea Petroleum shares were up 2.4% at 2.00 pence Friday morning.

4263


----------



## bigdog

*Re: MEO - MEO Australia*

MEO 	13/05/2014 	10:00:19 AM 	Completion of MEO Australia Share Purchase Plan 

*ASX & Media Release*

*Completion of MEO Australia Share Purchase Plan*

Key Points:
•    $2.46 million raised from Share Purchase Plan (SPP) (before costs)
•    123.2 million new MEO shares will be issued on 14th May 2014
•    New shares can be traded commencing 15th May 2014
•    Funds raised from the SPP will be used to fund the Puka Phase 1 Work Program

MELBOURNE, AUSTRALIA (13th May 2014)

MEO Australia Limited (ASX: MEO) advises that the Share Purchase Plan (SPP) which cl Wednesday 7th 
May 2014 raised $2,464,476 with 442 shareholders participating. There wa shortfall and therefore no 
shares will be issued to the Underwriter.

The shares subscribed for under the SPP are priced at 2.0 cents, representing a 20% discou the 
average price of MEO’s shares quoted on the ASX during the 5 days immediately prior to including 
the Closing Date.

MEO will issue 123,223,800 new shares on Wednesday 14th May 2014 and these shares wil eligible to 
commence trading from Thursday 15th May 2014. Holding statements will be dispatc on 15th May 2014 
to shareholders that participated in the SPP.

Funds raised under the SPP will be used to fund MEO’s obligations for the Puka Far Agreement.

The Board of Directors thanks all shareholders who participated in the SPP for their support.

4534


----------



## bigdog

*Re: MEO - MEO Australia*

http://www.lse.co.uk/AllNews.asp?co...t_Funding_Obligations_With_New_Financing_Deal

Alliance News

Kea Petroleum To Meet Funding Obligations With New Financing Deal
Fri, 23rd May 2014 14:58

LONDON (Alliance News) - Kea Petroleum PLC Friday said it has agreed a deal to issue up to GBP2.0 million of convertible loan notes to Darwin Strategic Ltd, meaning the company can meet its funding obligations under a recent farm-in agreement.

The proceeds of the issue will be used to fund Kea's NZD1.0 million commitment under phase 1 of the farm-out agreement with MEO Australia Ltd, and to meet its ongoing working capital requirements.

The deal replaces a previous convertible note facility agreed in January, under which Darwin had agreed conditionally to subscribe for GBP1.2 million of convertible loan notes.

According to Kea Petroleum, GBP800,000 of the original has been issued to date, and the obligation over the remainder is no longer in place. In addition, both parties agreed to the early expiration of the GBP5.0 million equity finance facility announced in January.

"Following the successful negotiations of the farm-in agreement with MEO Australia Ltd, announced in April 2014, regarding the Puka prospect, it was important that we moved quickly to secure the finance required to enable us to meet our initial funding obligations," Ian Gowrie-Smith, chairman, said in a statement.

"We are pleased that Darwin, with whom we have developed a successful relationship in recent months, have agreed to continue their support of the company by increasing their commitment to the company by a further GBP1.4 million, to GBP2.5 million," the chairman added.

Kea shares were Friday quoted at 2.20 pence, up 12.8%.

4727


----------



## pixel

*Re: MEO - MEO Australia*

Nearly the entire May shows a marked absence of sellers, unwilling to sell any lower. Finally, buyers gave in and pushed back up with volume. That's when my scans alerted me to buy the pullback.
After bouncing off the Fib 161.8% ceiling, it's now back to the first resistance at 2.7c. Time to buy back in?


----------



## bigdog

*Re: MEO - MEO Australia*

MEO is earning a 30% interest in the permit in return for funding NZ$4mln, which is 80% of a NZ$5mln first phase of work

http://mail.proactiveinvestors.co.u...a-petroleum-puka-3-drilling-begins-70586.html

Kea Petroleum - Puka 3 drilling begins
By Jamie Ashcroft	July 22 2014, 10:55am 

Drilling has now begun on Kea Petroleum’s (LON:KEA) third well on the Puka field.

Puka 3 is a major component of the work programme committed as part of MEO‘s farm-in for the project, which was agreed back in April.

"We have eagerly been awaiting the drilling of the Puka 3 appraisal well,” said Ian Gowrie-Smith, Kea chairman. “The results will help us to gain a better understanding of the resource size and deliverability, to enable us to plan for further commercial development."

The well will target the Mt Messenger formation, anticipated at a depth of 1,580 metres, which was observed in a 3D seismic survey over the south-western part of the PEP51153 area.


----------



## bigdog

*Re: MEO - MEO Australia*

*MEO 	25/07/2014 	9:46:03 AM 	Quarterly Activities Summary for Period Ended 30th June 2014 *
http://www.asx.com.au/asxpdf/20140725/pdf/42r0nwwnyryv0n.pdf

*Quarterly activities summary for  Period ended 30th June 2014*

*Significant activities during quarter: *
• Executed binding farm-in agreement with Kea Petroleum to earn an initial 30% interest in the producing Puka oil discovery (PEP 51153) onshore New Zealand 

• Received NZ regulatory approvals for transfer of participating interest in PEP 51153 

• Received final reprocessed 3D data over Puka oil discovery, optimised Puka-3 location 

• Raised $2.5m before costs from Share Purchase Plan towards funding the Puka farm-in 

• Received final $2.8m cash payment from Origin Energy relating to WA-454-P farmin 

• Agreed proposed Breakwater-1 (WA-454-P) well location with Origin Energy 

• Signed Strategic Co-operation Framework Agreement with Shenzhen based HongFu Fund and evaluated 2 significant producing assets of which one remains in the sale process 

• Received regulatory approval to vary work programs for AC/P50 & AC/P51 

• Executed binding option agreement with Apache Northwest Pty Ltd (“Apache”) giving Apache until 30th September 2014 to farm in to both AC/P50 & AC/P51 for a 70% interest by funding 100% of costs up to and including drilling of first well in each permit 

Activities subsequent to end of quarter: 
• Commenced drilling Puka-3 appraisal/development well

6612


----------



## bigdog

*Re: MEO - MEO Australia*

Great day for those that hold MEO because of ASX ANN today
    MEO     $0.084     $+0.044 +110.00% @ close of business Thu 07 Aug 2014
-- volume 101,481,299

http://www.asx.com.au/asxpdf/20140807/pdf/42rbc8kmrl9btf.pdf

*MEO 	7/08/2014 	9:16:36 AM 		Tassie Shoal Projects - Value Realisation Initiative* 

ASX & Media Release
*Tassie Shoal Projects - Value Realisation Initiative*
*Key Points:*
• MEO announces Tassie Shoal Projects value realisation initiative
• Offers sale of equity in Tassie Shoal Projects in response to market interest
• UBS appointed as adviser to MEO

MELBOURNE, AUSTRALIA (7th August, 2014)
MEO Australia Limited (ASX: MEO), is pleased to announce an initiative to realise value from its strategic Tassie Shoal Methanol and LNG projects proposed for offshore Northern Australia. The decision to pursue this initiative has been taken following a number of discussions with parties who had expressed interest to MEO in obtaining equity in these projects. UBS has been appointed as adviser to MEO to assist with conducting a formal process in relation to this initiative.

The Tassie Shoal projects are strategically located within the North West Australian hydrocarbon precinct, approximately 275 km from Darwin.

The methanol projects offer the opportunity to develop two 1.75 Mtpa methanol plants based on Davy Process M5000 technology with the potential to accept gas with a CO2 content of up to 30%. The developments have the potential to provide a commercially attractive development path for the large nearby undeveloped gas resources.

The Tassie Shoal Projects also provide the opportunity to develop a 3Mtpa LNG facility which may provide material cost savings relative to other LNG regional development options such as LNG processing at Darwin or floating LNG technology.

Environmental approvals have been secured in accordance with the EPBC Act and remain current until 2052. The LNG Project environmental approvals include provision for a review process every 5 years, with the next review due in 2017

Commenting on the Tassie Shoal value realisation initiative, Mr JÃ¼rgen Hendrich (MEO's Managing Director) said, "Over the years, our technical and commercial teams have continued to de-risk the Tassie Shoal projects to enhance their realisable value. The company has established relationships with key technology providers, secured environmental approvals and obtained Major

Project Facilitation status from the Government. Non-binding Letters of Intent were signed with three parties in 2013 for all methanol off-take from both Methanol Plants.

Having progressed the project to this point and taking account of the interest expressed in the assets along with recent transactional evidence in the region, we feel now is the time to offer equity in the Tassie Shoal Projects to other participants who can further enhance the value of the projects. With its prime location and strong underlying demand for the Tassie Shoal production stream, we believe the Projects provide significant early-mover advantage to an acquirer."

MEO's other assets comprise 7 Australian permits (of which 5 are operated) and a producing oil discovery, onshore New Zealand. Mr Hendrich added, "the MEO portfolio has been developed with the aim of delivering a material resource base to allow the company to build a sustainable oil & gas business. The missing ingredient to building a sustainable business is operating income. Funds generated from this value realisation initiative will allow MEO to pursue several opportunities to acquire near term cash generating assets consistent with this strategy. In parallel, we will continue to invite offers for participation in any of our assets across the portfolio."

MEO expects to update the market in relation to its Tassie Shoal Projects value realisation programme later in the year.

6910


----------



## pixel

*Re: MEO - MEO Australia*

In news just out, Apache has pulled the pin, won't exercise the 70% farm-in option.

Trading resumes at 10:10 am;


----------



## pixel

*Re: MEO - MEO Australia*



pixel said:


> In news just out, Apache has pulled the pin, won't exercise the 70% farm-in option.
> 
> Trading resumes at 10:10 am;







first reaction: Sell! Could this present a buying opportunity somewhere around 3c?


----------



## bigdog

*Re: MEO - MEO Australia*

*MEO 	1:33 PM 	MEO NEON Merger Announcement*
http://www.asx.com.au/asxpdf/20141105/pdf/42thzxxt3t6sqc.pdf

*MEO 	1:43 PM 	  	MEO NEON Merger Investor Presentation*
http://www.asx.com.au/asxpdf/20141105/pdf/42tj042bms2t01.pdf


*Investor Presentation*
5 November 2014
*Neon Energy and MEO Australia announce proposed merger of equals*

Transaction overview
*1.	All scrip merger of equals between Neon Energy (Neon) and MEO Australia (MEO) *

Following implementation, Neon shareholders and MEO shareholders to each hold 50% of the Merged Group
MEO shareholders to receive 0.7369 Neon shares for each MEO share held
Merger to be implemented by way of MEO scheme of arrangement
Merger has the unanimous support of the Neon Board and the MEO Board
Merger is conditional on Neon shareholders voting against the resolution to approve Evoworld's proportional takeover offer and the resolutions to replace a majority of the Neon Board with Evoworld nominees


*2.	Merged Group will have the capital and resources potential to become a robust junior E&P company*

Transaction will combine the material cash resources of both groups
Scope to progress existing projects as well as to take advantage of acquisition opportunities in an increasingly attractive environment for buyers of E&P assets, including capture from a pipeline of exciting new venture opportunities
Focus on cost synergies with a substantial reduction in annual corporate overheads targeted


*3.	The leadership team of the Merged Group will reflect the nature of the transaction as a merger of equals*

Board of the Merged Group to comprise two current Directors from Neon and two current Directors from MEO
Alan Stein (the current Chairman of Neon) will remain Chairman and Ken Charsinsky (the current Managing Director of Neon) will remain on the Board as a Non-Executive Director
Stephen Hopley (the Acting Chairman of MEO) and Michael Sweeney (a current Non-Executive Director of MEO) will join the Board of the Merged Group as Non-Executive Directors
Peter Stickland (the current Exploration Manager of MEO) will become Chief Executive Officer of the Merged Group


8197
The Neon Board considers the Merger to be superior to Evoworld's proportional takeover offer to Neon Shareholders


----------



## skc

*Re: MEO - MEO Australia*



bigdog said:


> *MEO 	1:33 PM 	MEO NEON Merger Announcement*




I saw the announcement and thought... wouldn' it be awesome if they call the company "Duster Brothers"


----------



## bigdog

*Re: MEO - MEO Australia*

*MEO $0.039 +$0.024 +160.00% @ Thu 07 Jul 2016 11:44 AM (Sydney time)*

ASX Announcement today
MEO 	9:42 AM 		*Multi Billion Barrel Potential Identified in Cuban Acreage*

http://www.asx.com.au/asxpdf/20160707/pdf/438dz9vffg83pv.pdf

 ASX & Media Release 
*Multi Billion Barrel Potential Identified in MEO’s Cuba Acreage *
MELBOURNE, AUSTRALIA (7th July, 2016) 

MEO Australia Limited (ASX: MEO) is pleased to provide the following significant update in relation to its 2,380 km² onshore Block 9 Production Sharing Contract (“Block 9 PSC”), located on the north coast of Cuba,140 km east of Havana and along trend with the multi-billion barrel Varadero oil field. 

The first of three identified oil plays on Block 9 has been assessed by MEO to contain 8.183 billion barrels of Oil-in-Place with a Prospective (Recoverable) Resource of 395 million barrels (Best Estimate, 100% basis)* of potentially high quality light oil. Further work on the other, shallower oil plays, which also have significant oil potential, is continuing and will be reported on as available. 

*Key Points*: 
• 8.183 billion barrels of Oil-in-Place with Prospective Resources of 395 million barrels just in the “Lower Sheet Play” (unrisked Best Estimate, 100% basis).* 
• Conventional “Lower Sheet Play” with 15 individual leads is one of three identified oil plays in Block 9. 
• Block 9 is a low cost onshore PSC with a number of prior oil discoveries reducing exploration risk. 
• Accelerated drilling program to explore further strong potential of “Lower Sheet Play” now under investigation. 
• Assessment of the other two oil play types is ongoing and is expected to add significantly to the potential Oil-in-Place and Resource base of Block 9. 

 MEO’s CEO and MD Peter Stickland, commented on the announcement: 
“It is extraordinary to be able to already identify nearly 400 million barrels of prospective resources in conventional targets in a proven trend at moderate target depths, located in an accessible onshore area. This result, which is for only one of three identified play-types, speaks to the enormous potential of MEO’s Block 9 PSC. Significantly, these leads have the potential for billions of barrels of oil-in-place however the prospective resources so far assume only the historical 5% recovery factor from offset fields in Cuba. 

MEO considers that some of these leads can potentially be matured into early drilling opportunities, particularly those with nearby or shallow oil recoveries from old wells. This, along with characterising the potential of the other two play-types, will be a focus of our work in the coming months. 
The scale of the identified prospectivity of Block 9 PSC suggests it has the potential to have a substantial positive impact on Cuba’s energy sector. 

MEO is the only ASX listed company with Cuban energy industry exposure. MEO’s early mover positioning in this significantly under explored region offers a great opportunity to build a substantial Cuban focused oil and gas business.”

5940


----------



## bigdog

*Re: MEO - MEO Australia*

http://www.meoaustralia.com.au/icms_docs/252364_U_S_continues_to_ease_restrictions_on_Cuba.pdf

ASX & Media Release
*U.S. continues to ease restrictions on Cuba*
MELBOURNE, AUSTRALIA (18th October, 2016) 

*Key Points*: 
● U.S. eases restrictions on U.S. companies investing in Cuba 
● Includes easing of restrictions on U.S. investment in Cuban infrastructure 
● Potential for contingent contracts, subject to U.S. regulatory approval

MEO Australia Limited (ASX: MEO) (“MEO” or “Company”) notes that the United States (“U.S.”) Government has announced a fifth round of regulatory changes to the Cuban Assets Control Regulations (CACR), further easing U.S. sanctions on Cuba. These regulations became effective on 17 October 2016.

The regulatory changes were significant, including authorization to import specified Cuban goods to the U.S, to export consumer goods from the U.S. to Cuba for personal use and for U.S. businesses to enter into contingent contracts.

The regulatory changes build on ongoing efforts by institutionalizing the U.S. policy towards Cuba and by removing additional barriers for U.S. companies and organizations interested in engaging with Cuba.

The easing of restrictions includes areas such as health related transactions, importation into Cuba of U.S. goods for personal use, investment in infrastructure, including in the electricity and public transport industries. In addition, persons subject to U.S. jurisdiction will be generally authorized to enter into certain contingent contracts for transactions currently prohibited, provided that the contract is only valid if approval is subsequently provided by U.S. regulatory authorities.

*MEO’s CEO and MD Peter Stickland commented on the announcement:*
“The ongoing easing of U.S. Government restrictions on business dealings with Cuba is clearly a positive step for MEO considering the Company’s Block 9 PSC project and other potential business activities in Cuba.

While these changes will need to be understood in detail, the allowance for U.S. companies to provide services related to Cuban infrastructure is potentially directionally significant for MEO’s advancement of Block 9, given the prominent role oil and gas play in both public transport and electricity generation in Cuba.”

7258


----------



## System

On November 8th, 2016, MEO Australia Limited (MEO) changed its name and ASX code to Melbana Energy Limited (MAY).


----------



## bigdog

MAY $0.025 +$0.004 +19.05% @ Wed 01 Feb 2017 10:15 AM (Sydney time) today

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01824726
MELBA ENERGY (MAY) formerly MEO

*Upgrade to Exploration Potential in Melbana's Cuba Acreage *
ASX & Media Release
*
50% Upgrade to Exploration Potential in Melbana's Cuba Acreage *


*Highlights:*
• Exploration potential of Block 9 upgraded by more than 50%to ~12 billion barrels of Oil-in-Place with Prospective Resources of 612 million barrels (unrisked Best Estimate, 100% basis)*
• 18 individual prospects and leads identified
• Block 9 is a low cost onshore PSC with a number of prior oil discoveries reducing exploration risk
• Planning for an accelerated drilling program to explore high potential targets progressing
•High potential Alameda prospect identified close to historical oil recoveries

MELBOURNE, AUSTRALIA (1 February, 2017)
Melbana Energy Limited (ASX: MAY) is pleased to announce the results of the latest phase of its assessment of the oil and gas exploration potential of its 2,380 km² onshore Block 9 Production Sharing Contract (“Block 9 PSC”), located along trend from the multi-billion barrel Varadero oil field.

The exploration potential of Block 9 has been increased by Melbana to approximately 12 billion barrels of Oil in-Place with a Prospective (Recoverable) Resource of 612 million barrels (Best Estimate, 100% basis)* of potentially high quality oil.

These latest results represent more than a 50% upgrade to the previous resource assessment. The high potential Alameda prospect has been highgraded as one of the preferred targets for the drilling program.

*Melbana’s CEO and MD Peter Stickland,commented on the announcement:*
“We are highly encouraged by the continued growth in the exploration potential of the Block 9 PSC. It is extraordinary to be able to identify exploration potential for 612 million barrels of prospective resources in conventional targets in a proven trend at moderate target depths, located in anaccessible onshore area.

Significantly, these leads have the potential for billions of barrels of oil
-in-place however the prospective resources so far assume only the historical 5% recovery factor from offset fields in Cuba.

The application of modern enhanced oil recovery techniques may increase the recovery factor and therefore has the potential to substantially increase the potential recoverable oil.

Melbana is currently progressing plans for a potential accelerated initial drilling program of up to two exploration wells in Block 9, with a target of finalizing well proposals this quarter, with drilling  potentially commencing approximately twelve months after commiting to such activity.”


*Refer to Cautionary Statement in this report (Page 3) relating to estimates of prospective resources

9361


----------



## bigdog

http://www.melbana.com//site/showdo...-4170-aa7a-0ef8e879dcfe&TE=jlynch10@yahoo.com











809


----------



## greggles

Melbana Energy up today after news that it has received all remaining key regulatory approvals for the Alameda-1 exploration well in Cuba.

The company advised that the Office of National Mineral Resources will issue the Drilling Operations Permit for the Alameda-1 exploration well once Melbana notifies it of the drilling rig to be contracted and the drilling timing window. The Drilling Operations Permit is the final administrative permit required for drilling to proceed.

MAY currently up 10% to 2.2c so far today.


----------



## bigdog

ASX Ann today


----------



## burleigh heads

looks like they are drilling soon a buy in my watchlist


----------



## Swervin Mervin

Looks to be a definite buy now with the unexpected oil shows. I’m in today on the oppies at 0.005


----------



## Swervin Mervin

Swervin Mervin said:


> Looks to be a definite buy now with the unexpected oil shows. I’m in today on the oppies at 0.005



Still no love for MAY? Oppies closed at 1c today


----------



## greggles

Swervin Mervin said:


> Still no love for MAY? Oppies closed at 1c today




Quiet achiever this one. A great result at the Alameda-1 exploration well with total depth called for the current 8½” section. Gross reservoir interval of possibly as much as 500mMD (450mTVD). 

The second and largest primary target is yet to come after logging of the current section is completed.

MAY currently up 32.43% to 4.9c.


----------



## peter2

*MAY* closed on a high +78% at 0.066.


----------



## Swervin Mervin

greggles said:


> Quiet achiever this one. A great result at the Alameda-1 exploration well with total depth called for the current 8½” section. Gross reservoir interval of possibly as much as 500mMD (450mTVD).
> 
> The second and largest primary target is yet to come after logging of the current section is completed.
> 
> MAY currently up 32.43% to 4.9c.



I think it has a long way to go yet mate! Just getting started. 10c+ in the next few days. What a beauty!!


----------



## tech/a

I smell an inside day coming
Late to the party on this one!

Note the start of Volume control back a year ago.
When drawing the box always INCLUDE any GAPS.


----------



## Swervin Mervin

tech/a said:


> View attachment 137169
> 
> 
> I smell an inside day coming
> Late to the party on this one!
> 
> Note the start of Volume control back a year ago.
> When drawing the box always INCLUDE any GAPS.




Whats an inside day mate?


----------



## greggles

Swervin Mervin said:


> Whats an inside day mate?












						Understanding an Inside Day Pattern With Example
					

An inside day is a chart formation that occurs when the entire daily price range for a security falls within the price range of the previous day.




					www.investopedia.com


----------



## Swervin Mervin

greggles said:


> Understanding an Inside Day Pattern With Example
> 
> 
> An inside day is a chart formation that occurs when the entire daily price range for a security falls within the price range of the previous day.
> 
> 
> 
> 
> www.investopedia.com



Thanks mate but I just can’t see that happening tomorrow. The gap up on open will put it out of play


----------



## frugal.rock

Had a sqiz at the chart earlier, and 2 other big vol day pops has occured this year. The day after on both was an insider,  perhaps a higher open on them?, can't remember that now...😣

FA on all 3 pops would help forecast an outcome tomorrow.
Whats a fair rerate MC from potential future earnings from today's ann?


----------



## tech/a

Swervin Mervin said:


> Thanks mate but I just can’t see that happening tomorrow. The gap up on open will put it out of play




You could be right. Pretty rare for a stock to continue to rise 50-100%
But it does happen. 

Often the initial heavy buying stops and heavy selling (profit taking) takes
its place. 

If I were in the Trade early Id be watching for the first signs of weakness to maximize profit.
If I wasn't  ( Didn't see it until mentioned!) I would pass on it now until some sign of consolidation to then
consider. All the best with this trade.


----------



## tech/a

I'm afraid price action is pretty clear that unless there is some significant news MAY
has reached its highest for the for seeable future. Any trading below its opening gap would be 
out for this Duck.


----------



## tech/a

tech/a said:


> I'm afraid price action is pretty clear that unless there is some significant news MAY
> has reached its highest for the for seeable future. Any trading below its opening gap would be
> out for this Duck.



 There was some good money to be made on this had you been early.
Big savings of potential capital losses by adopting the early  "Sell 
on the first sign of weakness"  ( Trading below the gap up open price) 
approx 22% currently.


----------



## Swervin Mervin

tech/a said:


> There was some good money to be made on this had you been early.
> Big savings of potential capital losses by adopting the early  "Sell
> on the first sign of weakness"  ( Trading below the gap up open price)
> approx 22% currently.



Fair call mate but its just taking a breather. 7.8c high from yesterday will be in the rear vision mirror tomorrow arvo


----------



## tech/a

There are pauses in down moves as well.
Without further strong positive news I’m sure
holding will be expensive under .071 c
(the ideal exit this move in my opinion)

Good luck your definitely a passionate holder.


----------



## tech/a

Enjoying the price action and the challenge in charting this.
So thought I'd post this up.


----------



## Swervin Mervin

tech/a said:


> Enjoying the price action and the challenge in charting this.
> So thought I'd post this up.
> 
> View attachment 137449




Thanks mate! Will be interesting to see if it does blast through. 🧐


----------



## frugal.rock

Stall alert...


----------



## tech/a

Testing the high 
Will see if supply returns or withdraws 
No supply demand will pay more and holders will demand more


----------



## Swervin Mervin

tech/a said:


> Testing the high
> Will see if supply returns or withdraws
> No supply demand will pay more and holders will demand more



Bit disappointed it didn’t close at HOD. Should push on tomorrow


----------



## tech/a

Well if it blasts through it should continue 
if it limps up and pulls back it will indicate a top .
A gap to new highs that isn’t filled is ideal 
a new spike high only to return and close below 
open would be disappointing.


----------



## frugal.rock

I have noted hidden supply on 8 cent (big negative volume on indicative price/ dark market)


----------



## Swervin Mervin

tech/a said:


> Well if it blasts through it should continue
> if it limps up and pulls back it will indicate a top .
> A gap to new highs that isn’t filled is ideal
> a new spike high only to return and close below
> open would be disappointing.



Big selloff into the close!


----------



## tech/a

A quick look.


----------



## Swervin Mervin

tech/a said:


> A quick look.
> 
> 
> 
> 
> 
> 
> 
> 
> 
> View attachment 137650



Yes finding it very hard to break through 8c. IMO might retest 6c before it has another crack at 8


----------



## Swervin Mervin

8c finish today?


----------



## frugal.rock

Swervin Mervin said:


> 8c finish today?



Hmmm, you loading up at close? 😂

PS; did I meet you at a Priceline conference charity event in Perth a few years ago?


----------



## Swervin Mervin

No mate already have 4 bricks. Hoping for some positive news on Monday. Wasn’t me at the conference Frugal cheers


----------



## tech/a

Hope has never been a leading indicator I could rely on!


----------



## Swervin Mervin

tech/a said:


> Hope has never been a leading indicator I could rely on!



Sorry if I’ve done the research and found one thats flying under the radar and hold a liitle hope to. Good luck to your strategies to


----------



## tech/a

No need to feel miffed.
Just commentary.
My comments are purely technical at the right-hand 
side of the page. You could make a motza.

It happens and if you have enough on it can change 
your financial position dramatically some even
life-changing.


----------



## frugal.rock

Hope for the best, plan for the worst.


tech/a said:


> Hope has never been a leading indicator I could rely on!



I've found profit delirium to be a leading indicator. It often indicates I should be selling before profits go poof...😬



Swervin Mervin said:


> Sorry if I’ve done the research and found one thats flying under the radar and hold a liitle hope to. Good luck to your strategies to



FA definitely has its place and has proven itself in my trading.
 It's rare for festering cankers to pop for no reason, however, some festerers pop from death throws.
(Those in the know pumping and dumping...)

Note, I'm not implying ANYTHING about this stock in either direction. 
KYS (know your stock) has been a very profitable pastime for those that put the research effort in, as can TA for those who are very good at it. 

Also, I love hearing about profitable and non profitable exercises as there's usually lessons to be learnt from both.
Cheers.


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## tech/a

Played out as expected on to the next prospect.


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## tech/a

I wanted to find time to post a chart and as there is a little interest in the analysis I'll give a little commentary until I get some time.

Price has blasted through the bottom of the Volume Control area at .63c 
Generally, the VCA now becomes resistant where price may re-visit the area but is often rejected as those trapped in that price zone escape when they get an opportunity. Things will alter if another VC bar appears and another area or zone comes into play.
Right now this is trapped and will make a new high very difficult. The hope of a price-busting announcement is about all that's left.

Hope you're not throwing those bricks through windows!


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## bigdog

*TRADING HALT REQUEST today with announcement tomorrow *







I am looking forward to the news


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## bigdog

On closing today with announcement today at 14:35

*Significant oil reservoir interpreted in N Structure*












Melbana Energy Limited (ASX: MAY) (Melbana) is pleased to provide this update on its drilling operations in its Block 9 contract area onshore Cuba. 

After reviewing the logging data acquired recently across the N interval, commencing at a depth of 2,878 mMD (2,791 mTVD), the preliminary assessment is that this interval contains net hydrocarbon pay of about 100 mMD (88 mTVD) in aggregate across a gross reservoir interval of about 560 mMD (495 mTVD). This is in addition to the previously reported interpreted net pay in the shallower Amistad structure.

The recovery characteristics of this reservoir interval will be better understood once initial flow testing work is done. This is planned to take place immediately following the completion of drilling at Alameda-1, expected to be in about two weeks (depending on drilling conditions). The following factors raise expectations for the commercial recovery of the oil encountered in the N Structure to date:
1. Alameda-1 is on trend with the nearby Varadero oil field, reported to contain 11 billion barrels of oil in place and responsible for tens of million of barrels of oil production since its discovery in the 1970s;

2. biostratigraphic analysis of samples taken in the N interval indicate a reservoir of similar age to the most productive sections of the Varadero field;


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## frugal.rock

tech/a said:


> The hope of a price-busting announcement is about all that's left.



As per bigdogs posts. 
One has to admire the seemingly impeccable timing of the company's trading halt, then subsequent announcement tied in with a stiiff poo rise... sus as!


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## tech/a

I have a feeling this is going to be short-lived.


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## Swervin Mervin

tech/a said:


> I have a feeling this is going to be short-lived.
> 
> View attachment 138072



Thought you’d moved on.....next

Now you trade on feelings lol

Lucky I’m not a sheep

10c tomorrow


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## tech/a

Ahh Life has returned.
The move if it finishes well out of the V/C area will indicate exhaustion of supply at these levels.
The zone is then likely to act as support.
An immediate (Tomorrow) return back into the zone will indicate supply has returned.


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## tech/a

See Commentary above if interested in following along


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## frugal.rock

There's the 10 cent.


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## Swervin Mervin

Swervin Mervin said:


> Thought you’d moved on.....next
> 
> Now you trade on feelings lol
> 
> Lucky I’m not a sheep
> 
> 10c tomorrow



Bingo


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## tech/a

tech/a said:


> Ahh Life has returned.
> The move if it finishes well out of the V/C area will indicate exhaustion of supply at these levels.
> *The zone is then likely to act as support.*
> An immediate (Tomorrow) return back into the zone will indicate supply has returned.




Well done. Nice.

Price reacted pretty well exactly as I expected.
We now have a new V/C bar. I'll mark up a chart tonight if interested.


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## frugal.rock

tech/a said:


> I'll mark up a chart tonight if interested.



I vote for a CE1 chart markup. 😅


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## tech/a

A couple of charts One off topic for FR.


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## Swervin Mervin

That is the strongest close I’ve ever seen on MAY! Bodes well for tomorrow


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## tech/a

Another blast through 
Yes very impressive


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## Swervin Mervin

Another big week for Melbana coming up. Based on my FA 20c looks good this month some time. Am I the only one riding this puppy?


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## bigdog

I have held Melbana for several years and now enjoying being a holder!


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## bigdog

*




*


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## bigdog

*Can now be traded with no sales at 10:57 AM after the announcement below *


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## Swervin Mervin

bigdog said:


> *Can now be traded with no sales at 10:57 AM after the announcement below *
> 
> 
> View attachment 139073
> 
> 
> View attachment 139070
> 
> 
> View attachment 139071



Won’t trade today mate


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## bigdog

Still in trading halt and Half-year Financial Report - 31 December 31 2021  now issued






Melbana Energy Limited
Directors' report
31 December 2021

The Directors present their report, together with the financial statements, on the Consolidated Entity consisting of Melbana
Energy Limited (referred to hereafter as the 'Company' or 'Parent Entity') and the entities it controlled at the end of, or during,
the half-year ended 31 December 2021.

Directors
The following persons were Directors of Melbana Energy Limited during the whole of the financial half-year and up to the
date of this report, unless otherwise stated:
Andrew Purcell (Executive Chairman)
Michael Sandy (Non-Executive Director)
Peter Stickland (Non-Executive Technical Director)

Principal activities
The principal activities during the half-year of the Consolidated Entity were oil and gas exploration in Cuba and Australia
together with development concepts for the Tassie Shoal Methanol Project and LNG Project.
Dividends

There were no dividends paid, recommended or declared during the current or previous financial half-year.
Review of operations

The income for the Consolidated Entity after providing for income tax amounted to $9,492,839 (31 December 2020: loss of
$136,488).

CUBA
Block 9 (Melbana 30%, Operator)
During the current reporting period, Melbana reached the following milestones in relation to its Cuban Block 9 drilling
program:
● Drilling of the Alameda-1 exploration well, the first of two exploration wells to be drilled within the Block 9 contract area,
commenced in September 2021.
● Oil shows were reported over a 670 metre interval to about 1,130 metres, which the Company announced in October
2021 to contain at least 48 net metres of potential oil and gas pay.
Subsequent to the end of the reporting period, in February 2022 the Company reported the existence of strong oil shows
accompanied by elevated gas readings over an interval of 500 metres measured depth (mMD)/450 metres true vertical
depth (mTVD) to about 3,590 mMD/3,420 mTVD in the N structure. Later that month the Company announced it estimated
there to be about 100 mMD/88 mTVD of net hydrocarbon pay in this interval.
Also subsequent to the end of the reporting period, the Company announced on 3 March 2022 and again on 9 March 2022
that strong oil and gas shows had been encountered in the I Structure – the first primary target of the first exploration well.

$19.9 million in the bank


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## bigdog

ASX Announcement today to raise $15 million and now trading


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## tech/a

WOW.


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## frugal.rock

tech/a said:


> WOW.



You can say that again.


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## Swervin Mervin

Hello Christmas


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## tech/a

So where do you think it can get to?

Interested in how you’ll play this


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## Swervin Mervin

tech/a said:


> So where do you think it can get to?
> 
> Interested in how you’ll play this



Now that the prize is in the kit bag it looks like a takeover will happen. Holding for anything between 50-70c. Its risen so quick because it is a globally significant discovery, as stated today. Got lucky on this one, lucky I didn’t throw my 4 bricks out the window thats for sure. This stock has literally turned my life on its head.


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## frugal.rock

Swervin Mervin said:


> Got lucky on this one, lucky I didn’t throw my 4 bricks out the window thats for sure. This stock has literally turned my life on its head.



The tax man is gonna love you then.... thieving mongrels, how dare they. They don't take any risk, but collect nearly half the rewards. 🤮


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## tech/a

Swervin Mervin said:


> Now that the prize is in the kit bag it looks like a takeover will happen. Holding for anything between 50-70c. Its risen so quick because it is a globally significant discovery, as stated today. Got lucky on this one, lucky I didn’t throw my 4 bricks out the window thats for sure. This stock has literally turned my life on its head.




I love hearing success stories like this and I’m sure if it gets to 50-70 c it could be life changing for you.
You recognised opportunity knew what you should do and took advantage of it.
There is a good dose of right place right time thrown in and that’s what makes life changing opportunity become life changing.

I sense you bought you 400k very cheaply so have a huge buffer able to withstand the initial pullback to 5.5c Now at $4000 a cent the head dynamics can play a part.

I really hope it gets to your targets. Congrats.


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## frugal.rock

tech/a said:


> Now at $4000 a cent the head dynamics can play a part.



I think it may actually be around $80k per cent tick, if my observations of the way Swervin operates are typical to this stock also.  
I guess the definition of "what is a brick"? is the unknown measure.  🤔


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## tech/a

Brick my understanding is 100,000


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## frugal.rock

tech/a said:


> Brick my understanding is 100,000



My understanding also.
So if one was a gambler, and dropped a brick on a horse... 

 Talking $ , not volume, is my point. So tick value, freakin huge.
😱


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## Swervin Mervin

tech/a said:


> Brick my understanding is 100,000



Sorry guys 1 brick = 1 million shares


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## frugal.rock

Swervin, you are breaking all known conventions... 😅

$20 large per tick....  that takes some kahunas


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## finicky

This could warrant a Swervin Mervin follow


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## Swervin Mervin

The beast had a normal breather the last couple of days. Ready for an attack on 30 now. What a ripper


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## tech/a

Swervin Mervin said:


> The beast had a normal breather the last couple of days. Ready for an attack on 30 now. What a ripper




Crickets 
	

		
			
		

		
	







SM last seen


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## Swervin Mervin

I


tech/a said:


> Crickets
> 
> 
> 
> 
> 
> 
> 
> 
> 
> View attachment 141027
> 
> 
> SM last seen
> 
> View attachment 141028





tech/a said:


> Crickets
> 
> 
> 
> 
> 
> 
> 
> 
> 
> View attachment 141027
> 
> 
> SM last seen
> 
> View attachment 141028



You really are a loser. This stock has literally changed my life. Just for your info I sold out my 6.3m oppies for 10.5/11c, piled $350k into another beaut company (gas company) and bought back 3m oppies the last few days for 5.7c. Cheerio


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## tech/a

Love a compliment 😎


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## noirua

Melbana Energy's (ASX:MAY) Zapato-1 well reaches total depth
					

Melbana Energy’s (ASX:MAY) Zapato-1 exploration well has reached its target depth.




					themarketherald.com.au
				



Melbana Energy’s (MAY) Zapato-1 exploration well has reached its target depth.

The Zapato-1 well is the second in the company’s two-well program within the onshore Block 9 production sharing area, in which Melbana owns a 30 per cent working interest.


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## signalFollower

Melbana Energy (MAY.ax) helping to give Cuba exploration and mining a profile amongst ASX investors

a speccy buy for MAY just on Friday the 16th of December 2022


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## XR250R

Hi guys,

looks like MAY might be onto something big, 

volume rising, price rising, interest rising, 

i find it interesting that no one is talking about it, 

could be some big money to be made over the next few months, 

in my opinion,


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## divs4ever

XR250R said:


> Hi guys,
> 
> looks like MAY might be onto something big,
> 
> volume rising, price rising, interest rising,
> 
> i find it interesting that no one is talking about it,
> 
> could be some big money to be made over the next few months,
> 
> in my opinion,



 it had some interesting folks that bought into the IPO ( but i didn't )

 but some seemed to have lost patience  


it didn't fit my investment parameters  , at the time/so far 

good luck


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## XR250R

good evening divs4ever

thanks for the super quick reply, 

im not to sure i know what you mean about some of the interesting folks thing, 

we all lose patience with stocks at some stage of our investing cycle, 

from the reports already out, these guys have already got oil and will be doing some appraisal drilling in the next 6 weeks or so, refer to the last report from early december, 

thanks, im not sure that i need good luck as the share price looks like its already pricing in a win and a place,


----------



## divs4ever

the instos  that injected  cash  some weren't the usual high risk/speculative investor-types ( and that caught my eye )

 one of my investing parameters is , generating ( share-holder )  dividends either currently ( or very soon )


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## rcw1

XR250R said:


> Hi guys,
> 
> looks like MAY might be onto something big,
> 
> volume rising, price rising, interest rising,
> 
> i find it interesting that no one is talking about it,
> 
> could be some big money to be made over the next few months,
> 
> in my opinion,



Thanks XR25OR.  MAY has been on rcw1 watchlist for ages... but have yet to action anything. Will have another peak at it.

Kind regards
rcw1


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## XR250R

good one mate, lot of people going back to work today, so MAY might find more interest as the week progresses, would be very nice to see it in the teens by the end of this week, probably be in the low teens today by lunchtime,


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## XR250R

Wow, what a day, 

Tomorrow we should well and truly say good bye to anything under 10 cents, 

I don't feel anything or sorry for the sellers this week, Hahahahaha 

Looking forward to seeing the 20s and 30s and 40s over the coming weeks,


----------

