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MAY - Melbana Energy

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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.
:)
Click to expand...

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
 
Re: MEO - Methanol Australia

Now What? ........ - is it going up or down? :confused:

Such a manipulated stock this one! - At the 37.5 resistance today
 
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?
 
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.
 
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.
 
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. :p:


Holding MEO at 36c
 
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 Jürgen Hendrich

7150
 
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
 
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. :)
 
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% :D
 
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% :D
Click to expand...

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.
 
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
 

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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.
 
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
 
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.
 
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!
 

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