MAY - Melbana Energy

[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

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

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

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

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

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

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

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

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

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...