MAY - Melbana Energy

[bigdog]

Re: MEO - Methanol Australia

ASX ANN today for TRADING HALT

Here's hoping for VG news ANN!

SP and the volume has been improving over past week!
Date....... Close Volume
03-Jan-08 1.59 2,676,362
02-Jan-08 1.60 2,549,507
31-Dec-07 1.47 1,973,842
28-Dec-07 1.36 888,765
27-Dec-07 1.30 1,260,225
24-Dec-07 1.24 255,243


04-01-2008 09:29 AM MEO Trading Halt Request
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00800570

REQUEST FOR TRADING HALT
FRIDAY, 10.00 AM, 4 JANUARY 2008

The Company requests a trading halt in the Company’s securities pending a market announcement. Reinstatement of trading is requested at 10.00 am on Tuesday, January 8, 2008, prior to which the Company proposes to lodge the market announcement. The Company is not aware of any reason why the trading halt should not be granted.

 

[doogle]

Re: MEO - Methanol Australia

First Post. Could MEO be a takeover target at this early stage? I mean aren't its exploration rights and current holdings desirable to the big boys?

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN today
04-01-2008 03:13 PM MEO Heron-2 Well Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00800709

ASX RELEASE
HERON-2 WELL UPDATE

MELBOURNE, AUSTRALIA (January 4, 2008) -- MEO Australia Limited (ASX: MEO) advises the market that the Heron-2 well has commenced flowing from the gas charged zone of the Heron North Elang/Plover formation. The well flowed gas to surface and is currently undergoing a prolonged clean-up period to clear the drilling fluids from the wellbore and formation.

While drilling the formation, the well experienced significant losses of synthetic based mud (1180 bbls). The formation in proximity to the wellbore was further impaired by the subsequent LCM (loss circulation material) treatment, which effectively inhibited much of the formation’s permeability. The clean-up is required to sample gas and obtain gas flow data in order to make the best estimate of reservoir potential given the possible impact to the formation from the drilling fluids.

The well was shut-in today at approximately 2.30 pm (EST) as the tropical low pressure system located in the Joseph Bonaparte Gulf formed into a category 1 cyclone (Cyclone Helen). The cyclone is within the 500 km radius of the rig, which necessitates the mandatory securing of the rig prior to de-manning.

The cyclone is forecast to move eastward over the weekend across the Northern Territory south of Darwin and is expected to weaken to a tropical low. The rig will re-commence operations upon this reclassification and proceed with the production testing of Heron North.

MEO Australia has entered into a trading halt commencing 10 am today due to these uncertainties. A detailed release will be made before trading recommences at 10 am on January 8, 2008 to allow a more extensive disclosure of the Heron-2 well activities.

 

[shaunm]

Re: MEO - Methanol Australia

Hi
Can someone give me a quick lesson on how these gas company reports are to read.
When it says "significant losses of drilling fluids" or the like, is that a good thing? Loss for me means bad but when I see releases that mention this there seems to be increased buying.
Thanks

 

[mailman]

Re: MEO - Methanol Australia

This is interesting.

I suspect that the trading holt was due to the workers on the rig would be saying that the results were good and a holts would have made sure they market was not influenced.

My tip MEO up 15% next week.

Mailman

 

[Trader Paul]

Re: MEO - Methanol Australia

Hi folks,

MEO ... so, let's see what happens in January 2008:

Traders betting on the outcome of current testing, MEO price at
a double-top and the time cycles looking negative ... let's see
how it all unfolds ...

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 new year

paul

=====

Hi folks,

MEO ..... sure is quiet on this thread, now ...

..... could it be, that those that were long last week are too busy with their
sell orders, now that panic has set in, since the announcement ... ???

Sellers lined up, as market gapped down to 118, at open ... !~!

Now, could that be a gap down of more than 40 cents from the close,
at the trading halt ... ???

..... let's see how low this will go next week, when the time cycles
posted above come out to play.

Astrostuff wins, again ... !~!

happy days

paul



=====

 

[moneymajix]

Re: MEO - Methanol Australia

In recent weeks the stock has traded from approximately 90c to $1.62.

This has provided a number of opportunities to make money for astute traders.

Currently not holding.

cheers
$M

 

[Trader Paul]

Re: MEO - Methanol Australia



Hi $M,

MEO ... but for those who were gambling on the test results and still long
at the trading halt, it must have hurt to see it gap-down some 25% ... !~!

... and looks like, that's where it may close the session, as well.

Looking ahead, it will only take 3 words, like "plug and abandoned", then
the panic selling will start, again .....

have a great day

paul



=====

 

[mailman]

Re: MEO - Methanol Australia

Hi All,

It hurt so bad that I doubled up and bought 10k more at 1.18.

It must be some gas there or maybe not????

 

[Jack_Junior]

Re: MEO - Methanol Australia

Hi $M,

MEO ... but for those who were gambling on the test results and still long
at the trading halt, it must have hurt to see it gap-down some 25% ... !~!

... and looks like, that's where it may close the session, as well.

Looking ahead, it will only take 3 words, like "plug and abandoned", then
the panic selling will start, again .....

have a great day

paul



=====

Trader Paul....

I do not hold MEO but did toy with the idea at .96c and after reading your posts can't help but ask the following question...

Do you get off on watching people lose money just so you can say "I told ya so" ?

If so maybe you need to change your approach, or maybe just your tone to the whole price fall earlier today.
I sat and watched as someone I know lost nearly $50k in profits in less than a minute today and was ready to end it all....

Please, on behalf of everyone here, I doubt that you need to rub it in people's faces for kicks !

Some things are better off unsaid Paul

JR

 

[Trader Paul]

Re: MEO - Methanol Australia

Trader Paul....

I do not hold MEO but did toy with the idea at .96c and after reading your posts can't help but ask the following question...

Do you get off on watching people lose money just so you can say "I told ya so" ?

If so maybe you need to change your approach, or maybe just your tone to the whole price fall earlier today.
I sat and watched as someone I know lost nearly $50k in profits in less than a minute today and was ready to end it all....

Please, on behalf of everyone here, I doubt that you need to rub it in people's faces for kicks !

Some things are better off unsaid Paul

JR

... get over it, Jack.

Winning and losing in the markets (and discussion about same)
is what these forums are all about .....

Markets have no friends and falling in love with ANY market
(or the story behind it) can be VERY PAINFUL financially,
especially if we ignore the warning signs .....

..... and the warning signs WERE there for MEO, so any long
position before the trading halt was straight out GAMBLING,
on the results of the well tests ... and gambling on test results,
does not always pay off ... it's that simple, Jack !~!

If they go into such trades, then they should be well aware of the
risks ... something known to some traders, as risk management and
it is part of their trading plan, in EVERY trade.

have a great day

paul



=====

 

[AussiePaul72]

Re: MEO - Methanol Australia

G'day All,
How bout we calm down a little on this thread, things seem to be getting a little heated. Nobody in their right mind gets pleasure out of seeing other people lose money and i'm sure nobody here thinks that way.
Trader Paul did warn others on here about his thoughts and methodology about the short term future of MEO. Well picked on this one Paul .... i know every methodology is not 100% accurate but it worked this time. However, I went on my own instinct this time.
I was one that got stung a bit today .... didn't have a huge amount invested ... but was hoping they would strike something good! I wouldn't by any means call MEO a write-off as they still have a lot of potential. I just thought it safe to pull out at $1.20 today and take a small loss until the dust settles.
Good luck to all in the future

 

[mailman]

Re: MEO - Methanol Australia

Guys its all good!

http://www.energycurrent.com/index.php?id=2&storyid=7947

http://www.tradingmarkets.com/.site/news/Stock News/964532/

Mailman

 

[sam76]

Re: MEO - Methanol Australia

Trader Paul....

I do not hold MEO but did toy with the idea at .96c and after reading your posts can't help but ask the following question...

Do you get off on watching people lose money just so you can say "I told ya so" ?

If so maybe you need to change your approach, or maybe just your tone to the whole price fall earlier today.
I sat and watched as someone I know lost nearly $50k in profits in less than a minute today and was ready to end it all....

Please, on behalf of everyone here, I doubt that you need to rub it in people's faces for kicks !

Some things are better off unsaid Paul

JR

a lot of people attack Paul and his astro analysis, but it's like with everything you win some and you loose some. Add money and the stock market to the mixture and you have all the ingredients of a fireball. Agreed, no one wants to see people loose money but sometimes peopole want to celebrate their wins. remembering, where there are winners there are also losers...

hmmm.... i'm confusing myself now....

 

[Jack_Junior]

Re: MEO - Methanol Australia

There are no winners when people laugh at others misfortune....only losers !!

I'd be interested to know what stock you hold Paul.... so I can curse them, watch them slide all the way to insolvency and then sit back and poke you with a stick while reminding you of your misfortune!

Happy "Punting"

JJ

 

[bigdog]

Re: MEO - Methanol Australia

http://www.theaustralian.news.com.au/story/0,25197,23025266-643,00.html

MEO deflates on test problems
Nigel Wilson, Energy writer | January 09, 2008

SHARES in gas production hopeful MEO Australian slumped yesterday after it reported difficulties with testing a new gas find with its Heron-2 well in the Timor Sea.

The market reacted badly after MEO Australia's shares resumed from a trading halt, dropping 39.5c to $1.25.

In a statement to the exchange, the company said a blockage had been encountered at the base of the Elang formation that was now believed to have halted gas in the Plover formation flowing to the surface.

Testing would continue after a sidetrack well was drilled around the blockage.

MEO said only a 15m section of the Elang sand was believed to have flowed dry gas containing a high carbon dioxide content to the surface.

"The preliminary maximum flow rate through a 26/64 inch choke in this poor-quality Elang sand was estimated at 6 million cubic feet a day," the statement said.

It added that mud gas logs through the 164m intersection in better-quality Plover formation sands appeared to be wet gas without carbon dioxide.

Technical problems affected drilling in the Plover formation, which led to the belief only the Elang sand had contributed to the gas flow to the surface.

The Heron-2 well was shut on Friday because of cyclonic activity.

MEO Australia managing director Chris Hart said yesterday the company remained optimistic that a "significant, quality hydrocarbon resource" was present in the Plover formation.

Based on regional geological correlations and 3-D seismic interpretations, further good-quality gas-saturated sands remained to be drilled below the current total depth of 4182m at the Heron-2 location.

In December, MEO Australia raised $62.5 million in a placement of 50 million shares at $1.25 each 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.

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN today

The market did not like the ANN
MEO $0.795 -$0.365 -31.47% high of $1.16 and low of $0.70 8,590,838 shares $7,154,064 @ 15-Jan 13:02:41

15/01/2008 Heron-2 Well Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00802948

ASX AND MEDIA RELEASE
HERON-2 WELL UPDATE
Key Points:
• Epenarra Darwin production test brought forward to later this week
• Drilled 6 inch hole into Elang shale unit at 3967m and encountered formation instability
• Unstable shale unit leads to prudent decision not to continue re-drilling the Plover formation in Heron-2

MELBOURNE, AUSTRALIA (January 15, 2008) -- MEO Australia Limited (ASX: MEO) advises the market that the joint venture partners have decided to cease the current re-drilling of the Plover formation and bring forward the production testing of the Epenarra Darwin formation in the Heron-2 well to later this week. Importantly, this is due to technical issues encountered with the sidetracking of the well and not because of a changed view of the potential of the Heron North Plover sands, which would be revisited with a separate well.

 

[mailman]

Re: MEO - Methanol Australia

Maybe MEO shouldnt make any more announcements.
Everytime thaey make one it goes down over 20% in the last few weeks.

I am buying and rolling the dice

I understand that Macquarie has turned it into a BUY - anyone at Macquarie?

Mailman

 

[doogle]

Re: MEO - Methanol Australia

Anyone reading the latest report (15/01/2008 Heron-2 Well Update) can see it 'aint good. But I am holding in. There are still more options here. They do not say if they will return to the Plover later after Darwin?? It can't be that dead can it?

 

[Trader Paul]

Re: MEO - Methanol Australia

Posed 12 December 2007:

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



=====

Hi folks,

As posted above, "a BIIIG downmove" for MEO comes in,
right on time .....

..... volume up and trading as low as 70 cents today, as panic takes hold.

Let's see how long it bounces along the bottom, now.

have a great day

paul



=====