MAY - Melbana Energy

[doogle]

Re: MEO - Methanol Australia

So technically an investment into ARH 'should' eventually become part of RDI when it floats. Holding MEO also will mean a connection with RDI (when it floats) This is the theory. Any opinions/knowledge to share on the RDI float....is it a good idea to invest in ARH as a back door into RDI or is it safer to wait until the float??

 

[mark t.c.]

Re: MEO - Methanol Australia

So technically an investment into ARH 'should' eventually become part of RDI when it floats. Holding MEO also will mean a connection with RDI (when it floats) This is the theory. Any opinions/knowledge to share on the RDI float....is it a good idea to invest in ARH as a back door into RDI or is it safer to wait until the float??

I was at olympic games, so i couldn't reply earlier. I'm expecting a booming meo in the very near future. And than i have my connection with RDI because, if RDI floats, i guess that RDI will take over MEO too. Meo is very heavy undervalued. So short term profit must come from meo. But that's only my opinion. However, by studying the management-option-contracts, you must come to the conclusion that the management has much confidence in meo.

 

[doogle]

Re: MEO - Methanol Australia

I am hoping the value of MEO does ramp up soon because our RDI friend might try and get them at a low price. ARH will be approx 2.2 for every RDI share I believe.
RDI is supposed to float late 2008- anyone know who will manage it?

 

[Shrewd Crude]

Re: MEO - Methanol Australia

mark t.c...
I do not hold your same sentiment that MEO is very undervalued...
But I wont go into that...
This Zeus well spudding late Oct is the most exciting Offshore well in Auzzie this year... Peter Strachan said that this Well alone could add 80 cents to CUE...
Theres a big difference between CUE and MEO as CUE will have first production (from 3 producing wells by then), also current revenues and another free carry on spikey beach..... it is free carried on Zeus, low downside... and MEO is not...

.^sc

 

[doogle]

Re: MEO - Methanol Australia

I am hoping the value of MEO does ramp up soon because our RDI friend might try and get them at a low price. ARH will be approx 2.2 for every RDI share I believe.
RDI is supposed to float late 2008- anyone know who will manage it?

damn there is the possibility of a required minimum of $5000 investment to enable ARH shares to be carried over to RDI....well at least the price might go up before this and they have to buy me out.

 

[mark t.c.]

Re: MEO - Methanol Australia

mark t.c...
I do not hold your same sentiment that MEO is very undervalued...
But I wont go into that...
This Zeus well spudding late Oct is the most exciting Offshore well in Auzzie this year... Peter Strachan said that this Well alone could add 80 cents to CUE...

MEO Increases interest in WA-361-P & Zeus-1 to 35%
Key Points: Cue and Gascorp have each elected NOT to fund 5% of the Zeus-1 well Additional 10% interest reverts to MEO, taking interest in WA-361-P to 35%

Which stock will raise with at least 80 cents? Answer: Meo.

 

[joey calzone]

Re: MEO - Methanol Australia

Well. It's been a bit painful of late, but MEO at 0.10/0.11... what value!

Just hoping the worst is over for MEO and now waiting for the forthcoming flood of buying to take it to the third creek!

 

[Shrewd Crude]

Re: MEO - Methanol Australia

hey mark,
its all about risk return buddy...
MEO are paying.. its all ok to me...
its a high risk, high return well...
I do not see value in MEO bar this well... if it fails then this company be devastated...
Its NT/P68 assets are proven to be uneconomical, and MEO's chances of progressing are in the hands of RDI... which would not be likely for them to list in this market...
MEO has fallen from 38cents since my post...

.^sc

 

[bigdog]

Re: MEO - Methanol Australia

Speeding ticket issued today

12/01/2009 Response to an ASX Price Query
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00918779

The company is not aware!!

SP has been doing well over the past week

Today: MEO last $0.30 +$0.055 +22.45% high $0.305 7,318,366 shares $2,105,973 @ 12-Jan 14:42:05

Date------- High- Close Volume
09-Jan-09 0.255 0.245 5,546,802
08-Jan-09 0.185 0.185 1,143,246
07-Jan-09 0.190 0.180 1,349,926
06-Jan-09 0.190 0.170 1,772,906
05-Jan-09 0.175 0.170 1,436,712
02-Jan-09 0.150 0.150 298,050
31-Dec-08 0.145 0.145 138,846
30-Dec-08 0.145 0.145 228,568
29-Dec-08 0.145 0.140 315,289
24-Dec-08 0.140 0.140 133,000
23-Dec-08 0.145 0.140 110,000

 

[moneymajix]

Re: MEO - Methanol Australia

QLD tycoon hopes gods smile on gas play
Barry Fitzgerald
January 19, 2009

Clive Palmer has rolled the dice over Zeus, an infamously fickle deity.

MONEY begets money. It's an axiom that is about to be put to the test big time in the oil and gas sector by Queensland's richest man, Clive Palmer.

In an enormous personal gamble, Palmer has plonked down $46 million on a bet that the Zeus gas exploration well on the North West Shelf can live up to the awesome reputation of its namesake Greek god.



http://business.theage.com.au/business/qld-tycoon-hopes-gods-smile-on-gas-play-20090118-7k12.html



Ann.
19 Jan 2009 11:59

Cue Energy Resources Limited is pleased to announce that the Zeus -1 well spudded on January 17, 2009.


31.5c.

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN today which the market did not like!

Was down to low of 0.099!

MEO 0.11 -0.035 -24.14% high of 0.12 low of 0.099 4,473,259 shares $500,196 @ 12-Feb 10:15:12 AM

9:49 AM Zeus-1 Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00926625

ASX AND MEDIA RELEASE - Zeus-1 update

Key Points:

• Initial wireline formation evaluation tools have been run
• Two excellent quality Legendre sand intervals appear to be largely water bearing
• Formation pressures and sampling program underway to confirm fluid content

MELBOURNE, AUSTRALIA (February 12th, 2009) -- MEO Australia Limited (ASX: MEO) advises the following update in relation to Zeus-1 (MEO 35%, Operator), being drilled in WA-361-P in the Carnarvon Basin, offshore Western Australia.

Initial wireline formation evaluation tools have been run. Two excellent quality sand packages separated by an approximate 10m shale unit have been intersected over a 143m gross interval. This interval is interpreted to be the primary Legendre Sandstone target. Preliminary log analysis indicates these intervals are likely to be largely water bearing. However, there are anomalous intervals at the top of both intervals that warrant further investigation.

An MDT formation pressure and limited sampling program is proposed to confirm fluid content at the top of both sand intervals. In the event that gas is recovered from either of these intervals, the implication is that there may be substantial untested potential updip of the current well location.

Following the pressure testing and sampling program, the well will be plugged and abandoned as planned.

Present operation
Preparing to run formation pressure and limited sampling program.

 

[furiouswilly]

Re: MEO - Methanol Australia

ASX ANN today which the market did not like!

Was down to low of 0.099!

MEO 0.11 -0.035 -24.14% high of 0.12 low of 0.099 4,473,259 shares $500,196 @ 12-Feb 10:15:12 AM

9:49 AM Zeus-1 Update
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00926625

ASX AND MEDIA RELEASE - Zeus-1 update

Key Points:

• Initial wireline formation evaluation tools have been run
• Two excellent quality Legendre sand intervals appear to be largely water bearing
• Formation pressures and sampling program underway to confirm fluid content

MELBOURNE, AUSTRALIA (February 12th, 2009) -- MEO Australia Limited (ASX: MEO) advises the following update in relation to Zeus-1 (MEO 35%, Operator), being drilled in WA-361-P in the Carnarvon Basin, offshore Western Australia.

Initial wireline formation evaluation tools have been run. Two excellent quality sand packages separated by an approximate 10m shale unit have been intersected over a 143m gross interval. This interval is interpreted to be the primary Legendre Sandstone target. Preliminary log analysis indicates these intervals are likely to be largely water bearing. However, there are anomalous intervals at the top of both intervals that warrant further investigation.

An MDT formation pressure and limited sampling program is proposed to confirm fluid content at the top of both sand intervals. In the event that gas is recovered from either of these intervals, the implication is that there may be substantial untested potential updip of the current well location.

Following the pressure testing and sampling program, the well will be plugged and abandoned as planned.

Present operation
Preparing to run formation pressure and limited sampling program.

Hi big dog,

u reckon price will keep dropping? is that a good chance to invest? i bought some @ 0.26... now...

 

[bigdog]

Re: MEO - Methanol Australia

Clive Palmer has plonked down $46 million on a bet that the Zeus gas exploration well on the North West Shelf can live up to the awesome reputation of its namesake Greek god.

Clive will not be smiling today!!

http://www.brisbanetimes.com.au/new...ile-on-gas-play/2009/01/19/1232213484988.html

QLD tycoon hopes gods smile on gas play
Barry Fitzgerald | January 19, 2009 - 7:07AM

Clive Palmer has rolled the dice over Zeus, an infamously fickle deity.

MONEY begets money. It's an axiom that is about to be put to the test big time in the oil and gas sector by Queensland's richest man, Clive Palmer.

In an enormous personal gamble, Palmer has plonked down $46 million on a bet that the Zeus gas exploration well on the North West Shelf can live up to the awesome reputation of its namesake Greek god.

Flush with funds from his iron ore killings in Western Australia, Palmer's unlisted Resource Development International Limited is funding 80 per cent of the cost of drilling Zeus to earn a 35 per cent interest.

The $46 million "bet" he is making represents the capped cost of RDI's exposure to the well. Roman goddess Venus will be on hand to see what Zeus has got, with the Norwegian-owned "Songa Venus" semi-submersible rig due to have spudded in the well on the weekend.

Zeus is a structural/stratigraphic play estimated to contain 15 trillion cubic feet of gas in the Legendre sandstones and maybe another 3.7 Tcf in the overlying Forrestier sandstones. So we're talking about liquefied natural gas project-sized resources.

But there are no certainties with any of that, so it is a huge roll of the dice by Palmer. Having said that, if Zeus comes in, Palmer will gain J.R. Ewing-like status within the local oil and gas industry to add to his iron ore fame.

As mentioned in Garimpeiro on December 14, Zeus is also a potential game changer for Melbourne-based MEO. It is the operator of the well and a 35 per cent partner.

MEO shares were 11 on December 14. On Friday, the stock closed at 31. That's as good an example as you'll get of investing in the junior sector being all about stock selection, particularly during a raging global financial crisis.

 

[Trader Paul]

Re: MEO - Methanol Australia



Hi folks,

MEO ... as requested, here's our astroanalysis, over coming months:

11-13022009 ..... 2 negative time cycles.

19-20022009 ..... another difficult cycle expected.

24-25022009 ..... a short, but positive spotlight on MEO

12-13032009 ..... positive news expected here

23-24032009 ..... a short, but positive move

27-30032009 ..... 3 negative cycles to focus a
negative spotlight and negative news on MEO

13042009 ..... minor and positive news expected

27042009 ..... minor and positive spotlight on MEO

3004-01052009 ... negative time cycle expected

08052009 ..... more negativity (price = 12022009???)

27-28052009 ..... minor cycle

09-10062009 ..... minor and positive cycle

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ... a very positive spotlight on MEO .....

More later.

happy trading

paul



=====

 

[bigdog]

Re: MEO - Methanol Australia

ASX ANN today

Not looking good!

13/02/2009 Zeus-1 Update
ASX AND MEDIA RELEASE
Zeus-1 update
Key Points:

• Formation pressures testing program confirm target sands are water bearing
• Plugging and abandonment program underway

While the results from Zeus-1 are clearly disappointing, MEO remains optimistic that there is significant untested potential for gas accumulations within its North West Shelf acreage. Once the results from the well are fully integrated with the existing database, the forward plan for WA-361-P will be determined. The drilling of the well satisfies the Year 5 commitment for the permit.

 

[doogle]

Re: MEO - Methanol Australia

ASX ANN today

Not looking good!

13/02/2009 Zeus-1 Update
ASX AND MEDIA RELEASE
Zeus-1 update
Key Points:

• Formation pressures testing program confirm target sands are water bearing
• Plugging and abandonment program underway

While the results from Zeus-1 are clearly disappointing, MEO remains optimistic that there is significant untested potential for gas accumulations within its North West Shelf acreage. Once the results from the well are fully integrated with the existing database, the forward plan for WA-361-P will be determined. The drilling of the well satisfies the Year 5 commitment for the permit.

...to put it mildly.
Well from what people have said Zeus was the one that had to deliver and now it hasn't, what to do? Hang in and gamble on other wells or plug it and run (or swim in this case). I have given MEO a lot of patience over the years is it time to swim??

 

[Trader Paul]

Re: MEO - Methanol Australia

Hi folks,

MEO ... as requested, here's our astroanalysis, over coming months:

11-13022009 ..... 2 negative time cycles.

19-20022009 ..... another difficult cycle expected.

24-25022009 ..... a short, but positive spotlight on MEO

12-13032009 ..... positive news expected here

23-24032009 ..... a short, but positive move

27-30032009 ..... 3 negative cycles to focus a
negative spotlight and negative news on MEO

13042009 ..... minor and positive news expected

27042009 ..... minor and positive spotlight on MEO

3004-01052009 ... negative time cycle expected

08052009 ..... more negativity (price = 12022009???)

27-28052009 ..... minor cycle

09-10062009 ..... minor and positive cycle

12-15062009 ..... minor and positive cycle

19-22062009 ..... minor time cycle

26-29062009 ... a very positive spotlight on MEO .....

More later.

happy trading

paul



=====

Hi folks.

MEO ..... as bleak as prospects may seem now, our astroanalysis indicates,
that exactly a year from now, MEO has 3 very positive time cycles
coming together, so MEO should be booming again, around 15-17022010 !~!

have a great day

paul



=====

 

[YOUNG_TRADER]

Re: MEO - Methanol Australia

hmmmm been watching this for a few days just cause unlike most other stocks yet to run

interesting directors buying shares on mkt recently

also some interesting info from qtrly

Key Points Drilled Zeus-1 in WA-361-P without encountering hydrocarbons Varied WA-359-P and WA-360-P work programs deferring drilling into 2010 Increased equity interest in WA-360-P from 60% to 70% Acquired 250 km² Artemis 3D marine seismic survey Artemis prospect (WA-360-P) preliminary gas-in-place estimates 6 – 9 Tcf Prepared to farm-out WA-360-P and NT/P68 during 2Q’09 Consolidated cash balance at 31 March A$21.8m

Not a bad amount of cash around 5c worth
Wonder if that large Gas Target will attract any majors, 6-9TCF Gas in Place ain't small, not really a follower of the sotry, how big was that Zeus well target?

 

[YOUNG_TRADER]

Re: MEO - Methanol Australia

really shouldn't be so lazy, 5mins of research and I found it

Zeus-1 pre-drill volumetric gas-in-place estimates were upgraded to 15 Tcf for the primary Legendre sandstone target and 3.7 Tcf for the shallower Forrestier sandstone secondary target.

This well/target turned out to be a dud and what a dud! I think it cost something like $35m US+ to drill, luckily looks like MEO farmed out most of the well and thus drilling costs! Gee Wiz the real money maker is to own the drill rigs!!!

Well given Zeus was a 15TCF target I suppose 6-9TCF aint that big, wonder how many majors will sniff around though given current GFC conditions to fund the drilling of this well, from the qtrly it looks like they will be looking to farmout alot of their projects at some upcoming Oil and Gas conference in Singapore

MEO will commence a formal farm-out process at the Seapex conference in Singapore commencing 21st April, aimed at attracting a substantial partner to fund the drilling of the year 5 commitment well.MEO will launch a formal farmout process at the Seapex conference aimed at attracting a funding partner to undertake additional appraisal drilling on its Heron and Blackwood gas discoveries.


Also look to be watching out for new opportunities, would have thought they have their plate full farming their existing ones out


New venture opportunities
MEO continued to screen a number of unsolicited opportunities during the quarter.

 

[bigdog]

Re: MEO - Methanol Australia

Business Spectator reports (not a lot of money parted with by the directors!!)

http://www.businessspectator.com.au...tors-buy-on-market-RAFZR?opendocument&src=rss

MEO Australia directors buy on-market

Source: News Bites

MEO Australia Ltd director Nicholas Moubray Health indirectly bought 305,165 shares for $21,800 on-market on April 20, 2009.

He indirectly holds 916,341 shares and 1,000,000 options.

Director Michael Sweeney indirectly bought 139,984 shares for $10,000.

He indirectly holds 139,984 shares and 1,000,000 options.

Director Gregory Allen Short indirectly bought 27,997 shares for $2,000.

He indirectly holds 67,734 shares and 1,000,000 options.

STOCK DASHBOARD: April 20, 2009

MEO Australia

Price at 1:00 pm: 7.50c

Price change from previous trading day: 1.4%

Relative Strength (6 months percentile rank): 11.8

Market capitalisation: $31.3 million

Turnover volume: 494,987.0

Volume Index (1 is average): 0.4

Turnover value: $3.7 million

Turnover period: 7 months

Value of $1,000 invested 1 year ago: $283