MAY - Melbana Energy

[mailman]

Re: MEO - Methanol Australia

So Paul

Where is MEO going to do in the short term do you expect a gradual increase?

Maybe 30s next week

 

[bigdog]

Re: MEO - Methanol Australia

MEO Company Summary
Market Cap: $90,693,918 (assume exclude new issue of 50 million shares at $1.25!)
Issued Shares: 385,931,570

Todays ann stated:
"MEO has $63M and remains on track to becoming a substantial integrated upstream company"

-- the $63 million represents 50 million shares issued at $1.25
-- the 50 million shares are currently valued 23.5 cents totals $11.8 million
-- a loss to the new clients of $51.2 million

Why is the SP not higher?

ASX ann today
24-01-2008 01:23 PM MEO General Meeting Presentation 24 January 2008
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00805601

I feel for the clients of Tolhurst Limited and WH Ireland Limited!

Excepts include:

Ordinary Resolution: ratification of issue of 50,000,000 shares–“

“That in accordance with Listing Rule 7.4 of the Listing Rules of the Listing Rules of ASX Limited, the issue of 50,000,000 ordinary fully paid shares in the capital of the Company, to clients of Tolhurst Limited and WH Ireland Limited, on 17th day of December 2007, at a price of 1.25 per share is hereby ratified per share is hereby ratified”

Where to from here?
• MEO is focused on securing gas supply for MEO is focused on securing gas supply for Tassie GTL Projects
– Gas discovery confirmed in Heron North Elang sands
– Significant potential in Heron North Plover sands
- Plover sands are the proven conventional reservoir in the Bonaparte Basin/Timor Sea
- Insufficient lead time to procure supplies to sidetrack time to procure supplies to sidetrack second well to target Plover sands at Blackwood

• MEO continues to develop its globally competitive LNG and methanol projects
• Work progressing on highly prospective NW Shelf permits permits
• MEO has $63M and remains on track to becoming a substantial integrated upstream company


24-01-2008 01:35 PM MEO Results of General Meeting - January 24, 2008
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00805607

OUTCOME OF RESOLUTION PUT AT GENERAL MEETING – 24 JANUARY 2008
The resolution is respect of Ratification of the Issue of 50,000,000 Shares was passed by shareholders by a show of hands.

 

[mailman]

Re: MEO - Methanol Australia

I think there is No gas No gas -No gas if the MD Mr Hart is reading this who would say that we are in great shape thanks to the recent 1.25 shareholders.

Man what about making thanks for being jooped. Thank the shareholders dude!

 

[hashertu]

Re: MEO - Methanol Australia

I am an XTR shareholder in London and am puzzled by the cash statement made on the last slide of yesterday's MEO presentation. As I understand it:
At the end of September MEO had A$69m cash.
If they are spending approx A$10m per quarter, they should have A$59m at the end of December.
In December, they issued 50m shares at A$1.25 which should have raised A$63m.
In todays presentation, the last slide states they have A$63m.
Don't they have a lot more than this? Say A$122m.

Can any point out my error?

Thanks

 

[zt3000]

Re: MEO - Methanol Australia

maybe had cash from b4 cap raising

...

doing well today ... i think people have realised that this was way oversold ... will see what the comming days bring ... looking the goods so far imo

 

[mailman]

Re: MEO - Methanol Australia

If MEO Australia were confident in themselves and their ability to make $$$$$ surely they would buy their own stock at these prices. Any thoughts guys?

Mailman

 

[moneymajix]

Re: MEO - Methanol Australia

Up nearly 51% to 40c


Huge amount of buying. Gotten the interest of traders.



What goes down, must come up!

 

[mailman]

Re: MEO - Methanol Australia

Long way to go on MEO What happen here next is anyones guess. I bet its down tommorrow??

Or maybe this is a conspiracy and there is gas?

 

[Aussiejeff]

Re: MEO - Methanol Australia

Long way to go on MEO What happen here next is anyones guess. I bet its down tommorrow??

Or maybe this is a conspiracy and there is gas?

Huge movements up, when the last news wasn't exactly positive and in the current very negative / jittery market climate, do seem a bit odd to say the least.... somebody must know something...

 

[mailman]

Re: MEO - Methanol Australia

A little bird flew through the big window I have and told me that they may in fact be alot of gas down in that hole.

Who knows what does Macquarie think anyone out there from Macca's

 

[doogle]

Re: MEO - Methanol Australia

A Plover flew into Darwin this morning from the Timor Sea, high on Methanol or was it just covered in mud...?

 

[doogle]

Re: MEO - Methanol Australia

Well one of the directors resigns...personal reasons - lets hope that is the only reason. I can't see any relationship to the most recent statement - its not like this well failed and he resigned....

 

[mailman]

Re: MEO - Methanol Australia

I am hearing that on Feb 18 they should drive through and finall see if here is gas - If you went to the casino and played 2up surley you should win 1 in 3 . Maybe we are all doomed on this stock and it is really with the 16cents that the bank account is worth.

If there is anyone that can reassue me here I woudl love to get a false bit of confidence

 

[Trader Paul]

Re: MEO - Methanol Australia

Posted 13122008:

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,

MEO ... as forecast above ..... positive news comes in, right on time ... !~!

..... and more positive MEO news is expected in March, with several
positive time cycles coming into play, around 17-24033008 .....

But, be alert for a negative spotlight on MEO shortly after, around 26-27032008.

have a great day

paul



=====

 

[doogle]

Re: MEO - Methanol Australia

Man! Trader Paul you are one scary <expletive> ...when you post I go into sweats....can't we just have positive news all the time? Are you like reading from the stars or tea leaves or something? My poor little MEO can't deal with this kind of cold analysis.

 

[bigdog]

Re: MEO - Methanol Australia

MEO $0.375 +$0.095 +33.93 high of $0.405 19,108,460 $6,868,804 @ 03-Mar 14:53:35

There are not many rises today!

All Ordinaries: 5,517.0 down 157.7 points at 2:55 PM

ASX ANN today
03/03/2008 Blackwood-1 Well Weekly Drilling Report No 5
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00818970

Key Points:
• Drilled 12 ¼ inch hole to a total depth of 3286m
• Well encountered elevated gas readings in Flamingo and Plover sands
• First logs confirm gas saturation with neutron density crossover
• Total gross hydrocarbon column of 126m over two sandstone units

MELBOURNE, AUSTRALIA (March 3, 2008) -- MEO Australia Limited (ASX: MEO) submits this drilling report for the period ending 1000 hours March 3, 2008. Blackwood-1 was spudded at 1830 hours (ACST) on February 1, 2008 in Exploration Permit NT/P68.

The rig has completed drilling the 12 ¼ inch hole to a total depth of 3286m. The well has encountered elevated gas readings in the interpreted Flamingo and Plover sandstone units. The mud gas sampling recorded no carbon dioxide (CO2) while drilling the gas saturated zones, suggesting the gas should not be high in CO2. Gas quality will be confirmed by MDT (Modular Dynamics Testing) down-hole sampling and subsequent analysis.

The rig is currently acquiring a full spread of logging data, including image and side wall core samples. MDT testing will be undertaken later today to recover pore pressure data and gas samples.

Initial log interpretation indicates a total gross hydrocarbon column of 126m comprising of an upper Flamingo gross sand unit between 3136mMD to 3149mMD (13m) and a lower Plover gross sand unit between 3177mMD to 3262mMD: GWC (85m) resulting in a combined 98m of gross gas saturated sand interval. This column is considerably in excess of the anticipated most likely ‘mid case’ pre-drill estimate of 57m.

Data acquisition and interpretation is ongoing and subsequent releases detailing the significance of the Blackwood-1 drilling results will be made in due course. Blackwood-1 is being drilled by Seadrill’s West Atlas jack-up rig. The Blackwood-1 wildcat well is being 100% funded as a sole risk exclusive operation by MEO.

The well is designed as a vertical well to penetrate, log and recover hydrocarbon samples in the Plover Formation of the Blackwood structure.

 

[trillionaire#1]

Re: MEO - Methanol Australia

MEO making some strong ground in the last week up some 50%
did run up to near 40cents a while back before falling down to .22
would be nice to see this one push past recent resistance at about 44cents
and scoot up to previous support at 75cents

 

[Lucky_Country]

Re: MEO - Methanol Australia

MEO on a serious march upwards today.
Rumours linking WPL with a bid for MEO makes sense from WPL point of veiw but Im sure they would not be the only ones interested.

 

[pmunny]

Re: MEO - Methanol Australia

hope so... held meo for quite a while now (through the up's and downs), has this rumour been round for a while as it makes a bit of sense but first i've heard of...
yesterday's review by tolhurst is certainly welcome news!!

 

[YOUNG_TRADER]

Re: MEO - Methanol Australia

This one looks very interesting

Looks to have broken up through 40c so this should act as support

hmm rumours about a Woodside takeover? can't say I've ever heard anything like that, but you never know

The TollHurst report that was attached to the please explain was very interesting they have a $2ish price target thats almost 500% from these levels

Like I said a very interesting stock