CanOz
Home runs feel good, but base hits pay bills!
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MAY - Melbana Energy
- Thread starter CanOz
- Start date
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
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
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.
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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Re: MEO - Methanol Australia
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?
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?
bigdog
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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.
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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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.
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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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.
Dutchy
Thanks for your recent chart.
Lot of vol. - 5,573,465
Currently $1.21, up 7.08%.
No news today.
bigdog
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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.
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.
Wysiwyg
Everyone wants money
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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.
I`m surprised no one has raised MEO for discussion (probably because it doesn`t get discussed
Watch the company value rise when the hydrocarbons start flowing.
So_Cynical
The Contrarian Averager
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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.
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.
Wysiwyg
Everyone wants money
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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.
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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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.
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.
bigdog
Retired many years ago
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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.
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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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
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
Wysiwyg
Everyone wants money
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Re: MEO - Methanol Australia
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?
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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Re: MEO - Methanol Australia
Information from a post from another forum
Current share price is up slightly this morning to $1.09 which is some ways from $1.84c.
Nice bit of news for holders.
Information from a post from another forum
Current share price is up slightly this morning to $1.09 which is some ways from $1.84c.
Nice bit of news for holders.
