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MEL - Metgasco Limited

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Tick, another winner for ASI. On paper anyhow. Not a terrible place to put a stop to be honest.

So who is here short term? And you haven't exited yet?

Ok, this for most is a longer term trade. I don't like seeing dips in my running profit, that pisses me off too. But, MEL are well on the way to commercialisaton. That's where the fun will happen imo. That and getting more reasonable flow rates, oh and more kingfisher results, oh and increased reserves, oh and possible condensate. Hmm, lots of downside in the near future.
 

Why so angry? If you followed the recommendation and loaded up at 46c (just 1c above SPP price) whats to worry about?
Also if you've read Monday's weekly update ASI moved the stop to 73c. You had Plenty of time today to get out when it was trading at the 73c area.
Today's arvo update was just a reminder to everyone who didn't place stops etc.
 
45c issue so hard to fathom why it would remain at anywhere near the spike price. Long or short term, no in-betweens like that ridiculous trailing stop level.
 
Wysiwyg said:
45c issue so hard to fathom why it would remain at anywhere near the spike price. Long or short term, no in-betweens like that ridiculous trailing stop level.
Click to expand...

Clearly weve seen this and my prediction come true today....some rationality and comon sense coming back into the market..... yes they have a LOAD of upside potential , but that spike was based on nothing....... the significant results are expected very soon, but they could be significant either way....

This really seems like a very good stock, but imo at around 65c-70c possibly shooting up to hold recent levels if the significant updates come through and they are good......following that theres a few deals, JV,s or cap raisings need doing before we get to stupid....
 

Maybe I do appear irrational, and yes if i think it a good stock it does not matter what ASI say (i was in 40c right issue earlier in year, or late last year), but I do beg to differ. It was more than a reminder they said "MEL will no longer be covered".

1 December Weekly Update said this,

And quite frankly, yesterday's 68% increase price was just the beginning of the good news to come from this "Thin Air" stock.

Back when I tipped it, I said you can expect a gain of 141% return on investment win six months. As of today, we've got a 65% return on investment. So from here I don't think it's too unreasonable to see the stock price double in the near term.

I am an avid Daily Reckoning reader and very disappointed with the MEL ramping given the high mighty opinions they taken on DR on a daily basis... I guess I am as disappointed in them as I am angry.

Did anyone think the ELD recommendation in the last ASI could have been written by a grad? I thought it appalling and will be interested to hear other's opinion.
 

Yeah i reckon he has lost the plot a bit with these stop losses being triggered. He is selling out of everything and not looking at the big picture! You'd expect weakness from this stock given the circumstances of the SPP, so i dont think it's an automatic reason to just sell up! Last week he was raving about how much more potential it had!
 
Or just post every single newsletter of theirs on here (it is paid subscription) until my sub runs out?
Click to expand...

Yes please. Do this after you send it to my email address

I get the DK as well and all the other spam that comes with it. I used to read it everyday, but then grew tired of the same dribble and it is so long. The titles can be funny though.
 

Did anyone actually get in at 46c from ASI's tip? By the time the newsletter hit my inbox, the stock was already in the 60s. I actually wrote to ASI and asked them WTF was going on and whether someone was leaking info!

And yes, I thought the ELD recommendation was slightly odd. Almost as if they had run out of ideas. Wont be touching that one!
 
If people are holding on for the longer term can I ask what / how they value the stock? e.g. $EV / 3P or something like that?

What does that valuation picture look like with the recent announcement?

On the chart I would say the current down leg could be wave 4, as long as $0.7 holds and doesn't fall below the original ASI spike... (sorry can't post my charts at the moment).
 
Got my SPP, 70% of what I applied for. Over 1.8M traded aalready and it's only a couple of minutes into the trade day.
 
Jumped back in this morning at .705 - was expecting a bit more selling pressure today and was hoping to get in around .66, but I think the SPP sell off has finished. There seems to be plenty of buyers around mopping up whatever is left of the flippers.
 
I too expected a sell off to the mid 60's. Seeing as it has stabilised, I bought back in this morning. over 10 million shares traded and still hovering in the early 70's. sellers mopped up by eager buyers.
 
Yeh I just bought in at 0.705 which is dearer then id hoped....none the less the significant announcments pending should see an easy profit if they are significant upgrades....
 
Its a great start to have a willing local government and community prepared to back rather then hinder the project.....

Metgasco is banking on being able to reach Brisbane with it and will be actively exploring the entire basin down almost to Coffs Harbour to ensure enough supply to validate a pipeline.....

Until then Id imagine their current power station will be the only viable option.... Although if the Govt is stupid enough to supply grants to domestically or commercially supply with a questionable long term supply quantity then more fool them......please do...

My money for the moment is oon power production & or very near by commercial use, possibly the abatoir or new industrial use near the airport.
It certainly would be viable for some company with high energy use to plonk themselves next to the airport and sign up for 20-30 year gas supplies.

Its not a bad prospect really with high unemployment in Casino (ready labour force), cheap housing, 2hrs to Brisbane, on the train line to sydney, next to an airport, 1/2 hour from Lismore..... Any heavy energy user would have to see this as a very attractive prospect... Certainly more economically viable then the high prices of western Sydney, or Melbourne and Brisbane with thier regular labour shortages...
 
Does anyone know what the hell is going on with Metgasco shares..!? Why are they haemorrhaging so badly..!?

I just don't understand how MEL shares dived from $1.00 to $0.68 in like 2 days! Now they are drowning again, sitting at $0.62. This mroning they went as low as $0.60. I saw at least 1 shares sold (dumped) in 1 hour. You know why? Because the shareholders by and large have no faith in the company. Take a look at a competitor, Eastern Star. At its worst t lost $0.10.
Such stupid management. They even managed to stuff up the SPP! So much for my investment!

If the Metgasco management has any good news to justify and sustain its price rise they should say it, and not wait till people dump their shares back into the market.

The entire stockmarket goes up, MEL shares go down!


Damn
 
Rob. No need to post twice (probably out of frustration) someone will reply soon. Someone always does!! :
 

Calm down mate! If you have read the previous posts and thought about it, of course the SP was going to head down after the SPP issued shares @ 45c. The chance to make a quick 75-100% gain is too good to pass up for a lot of people and fair enough.

If you think longer term though and consider the value that is placed on MELs 3P targets, you would have no problem waiting it out for the real value to appear in the SP. At least that's my
 
I concur , its selling volumes from the 45c SPP profit takers....

Also MEL is currently sitting on some data to confirm or deny some significant upgrades in reserves , which is causing uncertainty that it has not been released yet.....No news is bad news in the life of traders......

MEL needs to release more info on its suggested significnat upgrades ASAP to stop heamoarage from the SPP profit takers.....

One things for certain the next month seems to be significant, its just a matter of whether its south or north for the SP, based on these suggested significant ugrades???????????

and yes the SPP was bizzare to say the least.......
 
RobVan has a fair point - logging data does not take this long to come through...

However, I am biased on this one (I know they say to never fall in love with a stock, so i should be cautious) and think that there is a good announcement around the corner

That said, would like to see it before xmas and that only leaves four days!

But hey, if you've picked up rights and SPP in the last year at .40 and .45 you are not too worried.
 
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