MAY - Melbana Energy

[Gillie]

Re: MEO - Methanol Australia

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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

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

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

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

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

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.