MAY - Melbana Energy

[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

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

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

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

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

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

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

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

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.