MAY - Melbana Energy

[Trader Paul]

Re: MEO - Methanol Australia



Hi folks,

MEO ... figured from our astroanalysis ... troubles should start shortly after
11122007 ... with late-December 2007 and January 2008 looking quite nasty ... !~!

have a great day

paul



=====

 

[Wysiwyg]

Re: MEO - Methanol Australia

Drilling report out late tonight at MEO
Looking more promising as drilling/logging continues with another drill yet to go on the schedule.

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN late this evening

10-12-2007 07:48 PM MEO Gas bearing Heron North Elang/Plover Fm encountered
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00793844

MELBOURNE, AUSTRALIA (December 10, 2007) -- MEO Australia Limited (ASX: MEO) advises the market that the Heron-2 well has reached a depth of 3983m and is currently preparing to run logs ahead of setting a 7 inch liner.

The well intersected the Elang Formation, at a depth of 3929m. The Top Plover Formation is provisionally picked at 3948m. Both of these sand units have indications they are gas charged in Heron-2. Interpreted good quality medium grained Plover sand was encountered from 3973m to 3983m with mud losses of up to 60 bbls/hour, which is being considered as indicative of good reservoir permeability.

The forward plan is to set the 7 inch liner to isolate the over-pressured Flamingo Formation. This will allow a slight reduction in mud weight to reduce the losses for the completion of drilling through the remainder of the Plover Formation that is interpreted to be gas charged. This configuration also allows for the possibility of a barefoot production test of the Heron North Plover Formation subject to confirmation of reservoir parameters by further drilling and logging, and subject to Joint Venture approval.

Preliminary drilling results of the Plover Formation penetrated to date include:
• A wet gas fingerprint based on mud log C1 to C5 values;
• Nominal (1000 – 1400 ppm) carbon dioxide (CO2) levels recorded by mud gas detection systems while drilling;
• Plover sands are in-part weakly cemented and friable;
• Elang and Plover Formations appear to be substantially (~35%) over-pressured relative to regional Plover sands.

Independent calculation conducted by GeoMechanics International Inc. of the probable Heron Plover pore pressure based on regional Plover Formation pore pressure data appear to have been exceeded by approximately 35%. 3D seismic interpretation indicates that the Heron Plover structures are juxtaposed against a thick sequence of Flamingo Formation, which modelling suggests is currently generating wet gas. Additional gas charge from the Flamingo could explain the elevated pore pressure in Heron North.

Heron-2 encountered gas in the Elang/Plover Formations 237m up-dip of a known gas bearing interval in Heron-1. Pre-drill interpretation of 3D seismic suggests the Heron North and Heron South structures are connected with a common observed flat event at 4260m, interpreted to be coincident with the structural spill point and possibly representing a gas-water-contact (GWC). The combination of a wet gas fingerprint, presence of CO2 and the high pore pressure are considered strong evidence of a gas charged reservoir.

MEO expects to commence drilling the 6 inch hole in the week commencing December 17, 2007.

 

[bigdog]

Re: MEO - Methanol Australia

10-12-2007 07:48 PM MEO Gas bearing Heron North Elang/Plover Fm encountered
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00793844

Did this announcement require a trading halt and why wasn't the announcement treated as market sensitive?

 

[moneymajix]

Re: MEO - Methanol Australia

BigDog

Must be more news to be released which is market sensitive.

Buyer at $1.58c currently.

Let's hope it is good.

 

[bigdog]

Re: MEO - Methanol Australia

moneymajix

Company Trading Status is currently: "Pre-Open" with Indicative Price: 1.35

I agree with your statement "Must be more news to be released which is market sensitive"

 

[Trader Paul]

Re: MEO - Methanol Australia

Hi folks,

MEO ... figured from our astroanalysis ... troubles should start shortly after
11122007 ... with late-December 2007 and January 2008 looking quite nasty ... !~!

have a great day

paul



=====

Hi folks,

MEO ..... raising funds, while there is a lot of positive news around:

Placement of 50 Million Shares @$1.25

Right on time ..... astrostuff wins again !~!

happy days

paul



=====

 

[moneymajix]

Re: MEO - Methanol Australia

Ann.
Placement of 50 million shares at $1.25c


So far so good,
$1.42c, up over 10%


Let's see how it goes...

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN and I will post the link for ANN
MEO 10:09 AM Placement of 50 Million Shares
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00794462

MEO Australia Limited (ASX: MEO) is pleased to advise that during the trading halt, a placement of 50 million shares at A$1.25 per share was made to Australian, United Kingdom and European institutional, professional and sophisticated investors raising A$62.5 million (before costs). The placement was jointly managed by the Company’s Australian broker, Tolhurst Limited, and London broker, WH Ireland Limited. The offer was conducted within the 15% placing capacity and was heavily over-subscribed.

Previous fund raising activities provided the Company with sufficient capital to meet the dry hole costs of the two back-to-back appraisal wells in the current drilling campaign. Funds raised will be applied to the following planned activities:
• Initiation of LNG and methanol project studies including site selection to secure a casting basin site in SE Asia for the potential construction of the methanol plant and LNG tank substructures, pre-FEED, finalization of Basis of Design documentation and Capex reviews of the projects;
• Production testing of the gas bearing zones in the wells (refer ASX Releases December 5, 2007 and December 10, 2007);
• Acquisition of approximately 800 sq km of new 3D seismic to extend the existing 500 sq km 3D seismic coverage over the whole of the Epenarra and Heron structures in NT/P68. Acquisition is planned for March 2008;
• Acquisition of new 3D and 2D seismic in the recently acquired Northwest Shelf permits;
• Contingency for drilling cost over-runs and general working capital.

The rig is currently completing logging operations and is preparing to set the 7 inch liner to isolate the over-pressured Flamingo Formation. MEO expects to commence drilling the 6 inch hole in the week commencing December 17, 2007.

The Company remains in a strong financial position and looks forward to a successful outcome in the current drilling campaign, further development of the Tassie Shoal LNG and methanol projects, and exploration of the Northwest Shelf permits.

 

[AussiePaul72]

Re: MEO - Methanol Australia

G'day MEO-ers,

I've been watching this one for quite a while now after a tip from a mate. At that stage it was when it first hit the 80c mark. Its been on my watch list ever since but have never actually jumped on board until TODAY at $1.38!!

I've heard second hand that some brokers evaluation of this stock are anywhere from $6-$7 up to around $14. I have no firm information on this so take it with a grain of salt if you will and importantly DYOR. Anyway, hopefully things are about to really fire up. I was a bit surprised that the SP didn't run today more than it did. I realise its still speculation but signs from drilling are promising? Am I right?

It was a down day on the market but was anyone else surprised that it didn't run up more? What do other investors and watchers think?

Good luck to all

 

[Trader Paul]

Re: MEO - Methanol Australia

Hi folks,

MEO ... figured from our astroanalysis ... troubles should start shortly after
11122007 ... with late-December 2007 and January 2008 looking quite nasty ... !~!

have a great day

paul


=====

Hi folks,

MEO ..... despite the current hype, still figuring on some negative time
cycles coming into play, soon:

24-31122007 ..... negative news, brings negative spotlight to MEO

04-07012008 ..... minor

11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???

26-30012008 ..... 2 negative cycles ... finance-related ... ???

22-26022008 ..... positive aspect to bring first signs of recovery ...

happy days

paul



=====

 

[bigdog]

Re: MEO - Methanol Australia

Todays Australian

http://www.theaustralian.news.com.au/story/0,25197,22915043-643,00.html

MEO flexes muscles in Timor Sea
Nigel Wilson, Energy writer | December 13, 2007

WHAT was once a try-hard is now a minnow with muscles.

MEO Australia has raised $62.5 million in a placement of 50million shares at $1.25 each to institutional, professional and sophisticated investors in Australia, Britain and Europe to help define its planned LNG and methanol projects in the eastern Timor Sea.

MEO, formerly Methanol Australia, has for several years been promoting the Evans Shoal discovery north of Darwin as a possible supplier to an onsite methanol plant because of the gas's high carbon dioxide content.

Recent discoveries of wet gas with lower CO2 content has led to an investigation of whether the resource around Evans Shoal can also support an export LNG plant.

MEO's managing director, Chris Hart, yesterday said the funds raised in the placement would be used to initiate studies of LNG and methanol projects, including site selection, to secure a casting basin in Southeast Asia for the potential construction of the methanol plant and LNG tank substructures, pre-front end engineering and design and finalisation of the Basis of Design documentation, as well as Capex reviews of both projects.

Some of the new funds will also be applied to production-testing the gas-bearing zones found in the Epenarra and Heron-2 wells. In recent weeks, MEO shares have been actively traded, with one-time foundation shareholder Santos selling out.

MEO shares yesterday closed 3 per cent higher at $1.33 with more than 19 million shares changing hands, or about 6 per cent of the issued capital.

 

[AussiePaul72]

Re: MEO - Methanol Australia

Hi folks,

MEO ..... despite the current hype, still figuring on some negative time
cycles coming into play, soon:

24-31122007 ..... negative news, brings negative spotlight to MEO

04-07012008 ..... minor

11-18012008 ..... 2 negative cycles ... a BIIIG downmove ... ???

26-30012008 ..... 2 negative cycles ... finance-related ... ???

22-26022008 ..... positive aspect to bring first signs of recovery ...

happy days

paul



=====

Trader Paul, where do you get your information from on these cycles and also explanations for the cycles?

 

[bigdog]

Re: MEO - Methanol Australia

The share price today is looking great currently +$0.07 +5.07%

MEO $1.45 +$0.07 +5.07% high of $1.45 low of $1.35 2,278,453 shares $3,207,870 @ 14-Dec 12:25:20

The All Ordinaries: 6,599.5 is down 61.6 points

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN before close today and market seem to like ANN!

MEO $1.36 +$0.065 +5.02% high of $1.36 and low of $1.23 888,765 shares $1,144,724 28-Dec 16:10:06

28-12-2007 03:03 PM MEO Decsion To Production Test Heron North Plover Reservoir
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00799741

DECISION TO PRODUCTION TEST HERON NORTH PLOVER RESERVOIR

MELBOURNE, AUSTRALIA (December 28, 2007) -- MEO Australia Limited (ASX: MEO) advises the market that the Company has today approved production testing of the gas charged zones of the Heron North Elang/Plover formation reservoir in the Heron-2 well.

The participants in the Heron-2 well are:
TSP Arafura Petroleum Pty Ltd (MEO subsidiary) 45%
Oz-Exoil Pty Ltd (MEO subsidiary) 45%
Petrofac Energy Developments Oceania Ltd (Petrofac Limited subsidiary) 10%

Higher bottom hole temperatures did not allow logging while drilling through the Elang/Plover formation. At a drilled depth of 4182m, the drill string was pulled from the borehole and a separate high temperature logging suite was acquired through the Elang/Plover formation. Preliminary petrophysical analysis has confirmed that 202m of Plover formation gross section has been drilled to date with approximately 164m of gross sandstone.

Initial results of the drilling and logging in the Plover formation indicate:
• Upper Plover formation sandstone unit observed from 3980m to 4081m;
• Middle Plover formation appearing to be a siltstone unit: 4081m – 4119m;
• Lower Plover formation sandstone unit observed from 4119m to 4182m (current TD of well);
• Gross Plover formation sandstone interval of 164m;
• Based on preliminary log interpretation, these sandstones appear to be gas charged;
• Initial mud log indications while drilling suggest wet gas;
• No carbon dioxide was recorded by mud gas detection systems while drilling; • Primary porosity generally ranging between 5% and 10%;
• A number of prominent fracture systems appear to be present in the sandstone units (corresponding to lost circulation zones), which would be expected to enhance permeability and produce-ability of any gas.

While the prognosed gas-water-contact (GWC) and mapped structural spill point (4260m) has not yet been reached in Heron-2, the Company is conducting a barefoot production test of the Plover formation to determine indicative gas quality and reservoir productivity, thereby confirming that a recoverable resource is present. Testing of this zone is expected to be undertaken in the week commencing December 31, 2007.

 

[Trader Paul]

Re: MEO - Methanol Australia



Hi folks,

Did you notice that the UP-VOLUME was quite light,
at only 888,000 on Firday ... that means, not everybody
is convinced about the MEO story, right now.

..... and what the company actually announced:

"Based on preliminary log interpretation, these sandstones
APPEAR to be gas charged"

... they are only TESTING for what APPEARS to be gas-charged
formations ... yes??

Now, some traders were blinded to the facts in December,
when MEO went to 1.45 then crashed to 1.13 soon after
(just as was forecast in this thread) ... well, that
volatility is about to repeat itself, in January ...

Note well: ... 28-31122007 cycle comes into play over the weekend
and often we see a high posted, immediately before the negative cycle
falls into place ... so, as previously forecast:

... it does not matter how much the skeptix rubbish us,
the God-given natural time cycles will prevail ... !~!

As forecast above, expect MORE downside in MEO:


28-31122007 ... negative spotlight on MEO ...

11-18012008 ... 2 bigtime negative cycles here.

25-28012008 ... minor

29-30012008 ... negative ... finance-related ???

25-26022008 ... positive light on MEO and
first signs of recovery ???

happy days

paul



=====

 

[AussiePaul72]

Re: MEO - Methanol Australia

A very good day for MEO today ..... breaking new highs to close at $1.60. Today it was up 8.8% on a very strong rally leading up to close of trading with no news released yet. Might not be too far away though!
Could be an interesting day tomorrow with a very big order of 200,000 sitting at $1.56 at present and sellers starting at $1.63.
Good luck to all holders

 

[Wysiwyg]

Re: MEO - Methanol Australia

Trader Paul, where do you get your information from on these cycles and also explanations for the cycles?

A P .. I was under the impression you both were uhh, close.

Trader Paul = yogi in oz = Aussie Paul

Now I could be completely wrong but regardless, those prophecies are completely inaccurate, obscure and a trap for young players.But hey, one only needs to remain uhhh positive no i mean negative to fully understand the "prophecies".

 

[Trader Paul]

Re: MEO - Methanol Australia

Now I could be completely wrong but regardless, those prophecies are completely inaccurate, obscure and a trap for young players.But hey, one only needs to remain uhhh positive no i mean negative to fully understand the "prophecies".

Hi Wysiwyg,

..... if you chose to rely on only ONE tool in the traders toolbox for trading,
then that would be plain dumb ... but, using time cycles as a CONFIRMATION
tool of our regular TA gives us another view of any market, INDEPENDENT
of PRICE data !~!

happy days

paul

P.S. ... so, let's see how the MEO cycles posted above, unfold in January 2008.



=====

 

[AussiePaul72]

Re: MEO - Methanol Australia

A P .. I was under the impression you both were uhh, close.

Trader Paul = yogi in oz = Aussie Paul

Now I could be completely wrong but regardless, those prophecies are completely inaccurate, obscure and a trap for young players.But hey, one only needs to remain uhhh positive no i mean negative to fully understand the "prophecies".

Hey Wysiwyg! Just remember this is a forum and everybody is entitled to their views and ways of trading. I am very intrigued with how others trade and methods used. I don't always agree with them, but i do have an open mind and i have been proven wrong many times before!! Trader Paul is game man in my mind (laughing) putting his predictions on here .... but give the guy a break and at least watch what happens with his predictions before questioning him .... i too am watching with intrigue!!!!