MAY - Melbana Energy

[bigdog]

Re: MEO - MEO Australia

Great day for those that hold MEO because of ASX ANN today
MEO $0.084 $+0.044 +110.00% @ close of business Thu 07 Aug 2014
-- volume 101,481,299

http://www.asx.com.au/asxpdf/20140807/pdf/42rbc8kmrl9btf.pdf

MEO 7/08/2014 9:16:36 AM Tassie Shoal Projects - Value Realisation Initiative

ASX & Media Release
Tassie Shoal Projects - Value Realisation Initiative
Key Points:
• MEO announces Tassie Shoal Projects value realisation initiative
• Offers sale of equity in Tassie Shoal Projects in response to market interest
• UBS appointed as adviser to MEO

MELBOURNE, AUSTRALIA (7th August, 2014)
MEO Australia Limited (ASX: MEO), is pleased to announce an initiative to realise value from its strategic Tassie Shoal Methanol and LNG projects proposed for offshore Northern Australia. The decision to pursue this initiative has been taken following a number of discussions with parties who had expressed interest to MEO in obtaining equity in these projects. UBS has been appointed as adviser to MEO to assist with conducting a formal process in relation to this initiative.

The Tassie Shoal projects are strategically located within the North West Australian hydrocarbon precinct, approximately 275 km from Darwin.

The methanol projects offer the opportunity to develop two 1.75 Mtpa methanol plants based on Davy Process M5000 technology with the potential to accept gas with a CO2 content of up to 30%. The developments have the potential to provide a commercially attractive development path for the large nearby undeveloped gas resources.

The Tassie Shoal Projects also provide the opportunity to develop a 3Mtpa LNG facility which may provide material cost savings relative to other LNG regional development options such as LNG processing at Darwin or floating LNG technology.

Environmental approvals have been secured in accordance with the EPBC Act and remain current until 2052. The LNG Project environmental approvals include provision for a review process every 5 years, with the next review due in 2017

Commenting on the Tassie Shoal value realisation initiative, Mr Jürgen Hendrich (MEO's Managing Director) said, "Over the years, our technical and commercial teams have continued to de-risk the Tassie Shoal projects to enhance their realisable value. The company has established relationships with key technology providers, secured environmental approvals and obtained Major

Project Facilitation status from the Government. Non-binding Letters of Intent were signed with three parties in 2013 for all methanol off-take from both Methanol Plants.

Having progressed the project to this point and taking account of the interest expressed in the assets along with recent transactional evidence in the region, we feel now is the time to offer equity in the Tassie Shoal Projects to other participants who can further enhance the value of the projects. With its prime location and strong underlying demand for the Tassie Shoal production stream, we believe the Projects provide significant early-mover advantage to an acquirer."

MEO's other assets comprise 7 Australian permits (of which 5 are operated) and a producing oil discovery, onshore New Zealand. Mr Hendrich added, "the MEO portfolio has been developed with the aim of delivering a material resource base to allow the company to build a sustainable oil & gas business. The missing ingredient to building a sustainable business is operating income. Funds generated from this value realisation initiative will allow MEO to pursue several opportunities to acquire near term cash generating assets consistent with this strategy. In parallel, we will continue to invite offers for participation in any of our assets across the portfolio."

MEO expects to update the market in relation to its Tassie Shoal Projects value realisation programme later in the year.

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[pixel]

Re: MEO - MEO Australia

In news just out, Apache has pulled the pin, won't exercise the 70% farm-in option.

Trading resumes at 10:10 am;

 

[pixel]

Re: MEO - MEO Australia

In news just out, Apache has pulled the pin, won't exercise the 70% farm-in option.

Trading resumes at 10:10 am;

first reaction: Sell! Could this present a buying opportunity somewhere around 3c?

 

[bigdog]

Re: MEO - MEO Australia

MEO 1:33 PM MEO NEON Merger Announcement
http://www.asx.com.au/asxpdf/20141105/pdf/42thzxxt3t6sqc.pdf

MEO 1:43 PM MEO NEON Merger Investor Presentation
http://www.asx.com.au/asxpdf/20141105/pdf/42tj042bms2t01.pdf


Investor Presentation
5 November 2014
Neon Energy and MEO Australia announce proposed merger of equals

Transaction overview
1. All scrip merger of equals between Neon Energy (Neon) and MEO Australia (MEO)

• Following implementation, Neon shareholders and MEO shareholders to each hold 50% of the Merged Group
• MEO shareholders to receive 0.7369 Neon shares for each MEO share held
• Merger to be implemented by way of MEO scheme of arrangement
• Merger has the unanimous support of the Neon Board and the MEO Board
• Merger is conditional on Neon shareholders voting against the resolution to approve Evoworld's proportional takeover offer and the resolutions to replace a majority of the Neon Board with Evoworld nominees

2. Merged Group will have the capital and resources potential to become a robust junior E&P company

• Transaction will combine the material cash resources of both groups
• Scope to progress existing projects as well as to take advantage of acquisition opportunities in an increasingly attractive environment for buyers of E&P assets, including capture from a pipeline of exciting new venture opportunities
• Focus on cost synergies with a substantial reduction in annual corporate overheads targeted

3. The leadership team of the Merged Group will reflect the nature of the transaction as a merger of equals

• Board of the Merged Group to comprise two current Directors from Neon and two current Directors from MEO
• Alan Stein (the current Chairman of Neon) will remain Chairman and Ken Charsinsky (the current Managing Director of Neon) will remain on the Board as a Non-Executive Director
• Stephen Hopley (the Acting Chairman of MEO) and Michael Sweeney (a current Non-Executive Director of MEO) will join the Board of the Merged Group as Non-Executive Directors
• Peter Stickland (the current Exploration Manager of MEO) will become Chief Executive Officer of the Merged Group

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The Neon Board considers the Merger to be superior to Evoworld's proportional takeover offer to Neon Shareholders

 

[skc]

Re: MEO - MEO Australia

MEO 1:33 PM MEO NEON Merger Announcement

I saw the announcement and thought... wouldn' it be awesome if they call the company "Duster Brothers"

 

[bigdog]

Re: MEO - MEO Australia

MEO $0.039 +$0.024 +160.00% @ Thu 07 Jul 2016 11:44 AM (Sydney time)

ASX Announcement today
MEO 9:42 AM Multi Billion Barrel Potential Identified in Cuban Acreage

http://www.asx.com.au/asxpdf/20160707/pdf/438dz9vffg83pv.pdf

ASX & Media Release
Multi Billion Barrel Potential Identified in MEO’s Cuba Acreage
MELBOURNE, AUSTRALIA (7th July, 2016)

MEO Australia Limited (ASX: MEO) is pleased to provide the following significant update in relation to its 2,380 km² onshore Block 9 Production Sharing Contract (“Block 9 PSC”), located on the north coast of Cuba,140 km east of Havana and along trend with the multi-billion barrel Varadero oil field.

The first of three identified oil plays on Block 9 has been assessed by MEO to contain 8.183 billion barrels of Oil-in-Place with a Prospective (Recoverable) Resource of 395 million barrels (Best Estimate, 100% basis)* of potentially high quality light oil. Further work on the other, shallower oil plays, which also have significant oil potential, is continuing and will be reported on as available.

Key Points:
• 8.183 billion barrels of Oil-in-Place with Prospective Resources of 395 million barrels just in the “Lower Sheet Play” (unrisked Best Estimate, 100% basis).*
• Conventional “Lower Sheet Play” with 15 individual leads is one of three identified oil plays in Block 9.
• Block 9 is a low cost onshore PSC with a number of prior oil discoveries reducing exploration risk.
• Accelerated drilling program to explore further strong potential of “Lower Sheet Play” now under investigation.
• Assessment of the other two oil play types is ongoing and is expected to add significantly to the potential Oil-in-Place and Resource base of Block 9.

MEO’s CEO and MD Peter Stickland, commented on the announcement:
“It is extraordinary to be able to already identify nearly 400 million barrels of prospective resources in conventional targets in a proven trend at moderate target depths, located in an accessible onshore area. This result, which is for only one of three identified play-types, speaks to the enormous potential of MEO’s Block 9 PSC. Significantly, these leads have the potential for billions of barrels of oil-in-place however the prospective resources so far assume only the historical 5% recovery factor from offset fields in Cuba.

MEO considers that some of these leads can potentially be matured into early drilling opportunities, particularly those with nearby or shallow oil recoveries from old wells. This, along with characterising the potential of the other two play-types, will be a focus of our work in the coming months.
The scale of the identified prospectivity of Block 9 PSC suggests it has the potential to have a substantial positive impact on Cuba’s energy sector.

MEO is the only ASX listed company with Cuban energy industry exposure. MEO’s early mover positioning in this significantly under explored region offers a great opportunity to build a substantial Cuban focused oil and gas business.”

5940

 

[bigdog]

Re: MEO - MEO Australia

http://www.meoaustralia.com.au/icms_docs/252364_U_S_continues_to_ease_restrictions_on_Cuba.pdf

ASX & Media Release
U.S. continues to ease restrictions on Cuba
MELBOURNE, AUSTRALIA (18th October, 2016)

Key Points:
● U.S. eases restrictions on U.S. companies investing in Cuba
● Includes easing of restrictions on U.S. investment in Cuban infrastructure
● Potential for contingent contracts, subject to U.S. regulatory approval

MEO Australia Limited (ASX: MEO) (“MEO” or “Company”) notes that the United States (“U.S.”) Government has announced a fifth round of regulatory changes to the Cuban Assets Control Regulations (CACR), further easing U.S. sanctions on Cuba. These regulations became effective on 17 October 2016.

The regulatory changes were significant, including authorization to import specified Cuban goods to the U.S, to export consumer goods from the U.S. to Cuba for personal use and for U.S. businesses to enter into contingent contracts.

The regulatory changes build on ongoing efforts by institutionalizing the U.S. policy towards Cuba and by removing additional barriers for U.S. companies and organizations interested in engaging with Cuba.

The easing of restrictions includes areas such as health related transactions, importation into Cuba of U.S. goods for personal use, investment in infrastructure, including in the electricity and public transport industries. In addition, persons subject to U.S. jurisdiction will be generally authorized to enter into certain contingent contracts for transactions currently prohibited, provided that the contract is only valid if approval is subsequently provided by U.S. regulatory authorities.

MEO’s CEO and MD Peter Stickland commented on the announcement:
“The ongoing easing of U.S. Government restrictions on business dealings with Cuba is clearly a positive step for MEO considering the Company’s Block 9 PSC project and other potential business activities in Cuba.

While these changes will need to be understood in detail, the allowance for U.S. companies to provide services related to Cuban infrastructure is potentially directionally significant for MEO’s advancement of Block 9, given the prominent role oil and gas play in both public transport and electricity generation in Cuba.”

7258

 

[System]

On November 8th, 2016, MEO Australia Limited (MEO) changed its name and ASX code to Melbana Energy Limited (MAY).

 

[bigdog]

• MAY $0.025 +$0.004 +19.05% @ Wed 01 Feb 2017 10:15 AM (Sydney time) today

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01824726
MELBA ENERGY (MAY) formerly MEO

Upgrade to Exploration Potential in Melbana's Cuba Acreage
ASX & Media Release

50% Upgrade to Exploration Potential in Melbana's Cuba Acreage


Highlights:
• Exploration potential of Block 9 upgraded by more than 50%to ~12 billion barrels of Oil-in-Place with Prospective Resources of 612 million barrels (unrisked Best Estimate, 100% basis)*
• 18 individual prospects and leads identified
• Block 9 is a low cost onshore PSC with a number of prior oil discoveries reducing exploration risk
• Planning for an accelerated drilling program to explore high potential targets progressing
•High potential Alameda prospect identified close to historical oil recoveries

MELBOURNE, AUSTRALIA (1 February, 2017)
Melbana Energy Limited (ASX: MAY) is pleased to announce the results of the latest phase of its assessment of the oil and gas exploration potential of its 2,380 km² onshore Block 9 Production Sharing Contract (“Block 9 PSC”), located along trend from the multi-billion barrel Varadero oil field.

The exploration potential of Block 9 has been increased by Melbana to approximately 12 billion barrels of Oil in-Place with a Prospective (Recoverable) Resource of 612 million barrels (Best Estimate, 100% basis)* of potentially high quality oil.

These latest results represent more than a 50% upgrade to the previous resource assessment. The high potential Alameda prospect has been highgraded as one of the preferred targets for the drilling program.

Melbana’s CEO and MD Peter Stickland,commented on the announcement:
“We are highly encouraged by the continued growth in the exploration potential of the Block 9 PSC. It is extraordinary to be able to identify exploration potential for 612 million barrels of prospective resources in conventional targets in a proven trend at moderate target depths, located in anaccessible onshore area.

Significantly, these leads have the potential for billions of barrels of oil
-in-place however the prospective resources so far assume only the historical 5% recovery factor from offset fields in Cuba.

The application of modern enhanced oil recovery techniques may increase the recovery factor and therefore has the potential to substantially increase the potential recoverable oil.

Melbana is currently progressing plans for a potential accelerated initial drilling program of up to two exploration wells in Block 9, with a target of finalizing well proposals this quarter, with drilling potentially commencing approximately twelve months after commiting to such activity.”


*Refer to Cautionary Statement in this report (Page 3) relating to estimates of prospective resources

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[bigdog]

http://www.melbana.com//site/showdo...-4170-aa7a-0ef8e879dcfe&TE=jlynch10@yahoo.com

809

 

[greggles]

Melbana Energy up today after news that it has received all remaining key regulatory approvals for the Alameda-1 exploration well in Cuba.

The company advised that the Office of National Mineral Resources will issue the Drilling Operations Permit for the Alameda-1 exploration well once Melbana notifies it of the drilling rig to be contracted and the drilling timing window. The Drilling Operations Permit is the final administrative permit required for drilling to proceed.

MAY currently up 10% to 2.2c so far today.

 

[bigdog]

ASX Ann today

 

[burleigh heads]

looks like they are drilling soon a buy in my watchlist

 

[Swervin Mervin]

Looks to be a definite buy now with the unexpected oil shows. I’m in today on the oppies at 0.005

 

[Swervin Mervin]

Looks to be a definite buy now with the unexpected oil shows. I’m in today on the oppies at 0.005

Still no love for MAY? Oppies closed at 1c today

 

[greggles]

Still no love for MAY? Oppies closed at 1c today

Quiet achiever this one. A great result at the Alameda-1 exploration well with total depth called for the current 8½” section. Gross reservoir interval of possibly as much as 500mMD (450mTVD).

The second and largest primary target is yet to come after logging of the current section is completed.

MAY currently up 32.43% to 4.9c.

 

[peter2]

MAY closed on a high +78% at 0.066.

 

[Swervin Mervin]

Quiet achiever this one. A great result at the Alameda-1 exploration well with total depth called for the current 8½” section. Gross reservoir interval of possibly as much as 500mMD (450mTVD).

The second and largest primary target is yet to come after logging of the current section is completed.

MAY currently up 32.43% to 4.9c.

I think it has a long way to go yet mate! Just getting started. 10c+ in the next few days. What a beauty!!

 

[tech/a]

I smell an inside day coming
Late to the party on this one!

Note the start of Volume control back a year ago.
When drawing the box always INCLUDE any GAPS.

 

[Swervin Mervin]

View attachment 137169

I smell an inside day coming
Late to the party on this one!

Note the start of Volume control back a year ago.
When drawing the box always INCLUDE any GAPS.

Whats an inside day mate?