Australian (ASX) Stock Market Forum

MHL - Monitor Energy

Thanks for the info NYO. One wonders if MHL does have any significant leases in Kryg whether someone like LUKOIL would swallow them up in the future.
 
Hey Guys interesting article in the AGE re: Opes Prime Stockbroking Limited in short Monitor component sold at a % ? discount could explain some of the SP discounting of late. Monitor sure looks to be on a lot of Radars ATM but sure is starved of positive directional news from Head office. But I do feel when we get a Ann on all the projects in play ATM alot of radars will PING and we should rally back to a realistic SP for what we own.

Even in this tough enviro I have been averaging down of late i can still smell a big earn in this one just given the right wind sure seems cheap of late thanks Opes Prime :):eek:


http://www.theaustralian.news.com.au/story/0,25197,23458996-5013408,00.html

Opes system failed
John Durie | March 31, 2008

OPES Prime collapsed because the firm's risk management system failed.

This is what ASIC is investigating while the firm’s secured lenders, ANZ and Merrill Lynch, are in the process of recovering their money, which was used in Opes’ margin lending business.

Attempts to somehow paint this as yet more evidence of the pernicious nature of stock lending and short-selling are frankly ludicrous.

ASIC and the ASX are looking at just how excessive client loans have broken the firm and, more to the point, just how the firm was able to continue trading when it was meant to be under supervision and said to have sufficient capital to trade.

ASIC may also care to ask how and why Tricom clients were apparently selling stocks like Hedley, EBI and Just Group late on Thursday, with the trades reported on Friday morning before the Opes collapse was reported.

Maybe these clients got wind of the Opes problems.

While this investigation continues, it is worth noting that the saga points more to the pitfalls of excessive risk rather than systemic risk.

Those calling for creation of a super regulator to somehow solve the situation should be aware the problem is not with the system, but with the regulators not using the powers they already have.

US Treasury Secretary Hank Paulson this morning released his plans for US financial services regulation, which are remarkably similar to those in operation in Australia, with the creation of a national prudential authority (like APRA), business regulator (ASIC) and market oversight (the RBA).

The problem with stock-lending and short-selling is not the practice but the lack of disclosure, and this issue is being addressed.

Indeed, as Merrill Lynch and ANZ recover their money, those who have sold stocks short will have to cover those sales, which means actually buy the shares which, other things being equal, will put a floor under the share price, not cause a massive slump.

Investors who have borrowed too much to buy shares are now learning that stock prices fall as well as rise, and indeed the fact that short-selling has occurred has helped these folk by actually putting a lid on the price on the way up.

But the shrill call for more regulation just because some folk have taken excessive risks and lost their bets is of course a nonsense.

There is room for adjustments at the margin and Financial Services Minister Nick Sherry is right to push for some changes, as outlined on ABC radio this morning.

Merrill Lynch has sold around $325 million worth of the $500 million exposure it had to Opes, and ANZ has hired Goldman Sachs to sell stocks to recover the $750 million it is still owed from its $850 million exposure.

The Goldman mandate is to take its time to maximise the return.

Last Friday, ANZ sold around $100 million worth of stock at an average discount of 1.5 per cent, hardly fire-sale prices.

The bigger discounts were on the likes of Admiralty Resources, Monitor Energy and Sundance Resources, where, in small trades, the discount was over 10 per cent, and some ABC Learning was sold at a 4 per cent discount.

The ANZ action was prompted more by the emergence of so called operational irregularities, which caused it to withdraw support.

The bottom line is that while super returns will not be great for the last quarter, your money is still safe in the stock market and your superannuation funds will be just fine, albeit earning less than the extraordinary returns of the last couple of years
 
Does anyone know what's happening with MHL this morning? It looks like its under a trading halt (no trades and no bidding etc) but there aren't any asx announcements.
 
Does anyone know what's happening with MHL this morning? It looks like its under a trading halt (no trades and no bidding etc) but there aren't any asx announcements.

MHL is not in a trading halt. MHL's only problem is that there is no (or very very little) volume going through :p:
 
Well it looks like Opes selling may have been the cuase of the collapse in MHL, which kinda sucks for us LT MHL'ers but then also presents bargain buying opps,

MHL looks to found a new base at 1.5c-1.6c

Now if the company can just get off their fat arses and update us on whats going on it would be nice, hopefully we won't have to wait for the qtrly report to be updated :banghead:
 
Well it looks like Opes selling may have been the cuase of the collapse in MHL, which kinda sucks for us LT MHL'ers but then also presents bargain buying opps,

MHL looks to found a new base at 1.5c-1.6c

Now if the company can just get off their fat arses and update us on whats going on it would be nice, hopefully we won't have to wait for the qtrly report to be updated :banghead:

They say no news is good news but with MHL no news is bad news!it appears its the usual cloak and dagger game being played by management :mad:

cheers laurie
 
Well it looks like Opes selling may have been the cuase of the collapse in MHL, which kinda sucks for us LT MHL'ers but then also presents bargain buying opps,

MHL looks to found a new base at 1.5c-1.6c

Now if the company can just get off their fat arses and update us on whats going on it would be nice, hopefully we won't have to wait for the qtrly report to be updated :banghead:

Yes YT an occassional update would be appreciated from the directors. Figured that sell down was due to OPES so I decided to pick up another parcel at 1.6cents last week. Bringing the average down and I get the feeling we may be very close to an announcement.
 
Things are looking up a bit of late nudging 2 again with nice depth.
Picked up a few more today at 1.9 seems to me that there has been some quiet accumulation latley, maybe the much awaited ANNS are on the way wouldnt be before time hey :banghead: oh well given me a chance to average down a bit before news :cool:
 
Comsec chart tells me that many eons ago, MHL was ranging between a 3 and 13 dollar stock :eek:...what the hell happened back then?
 
Hey JTLP,

I think that was back in the dotcom bubble days, so maybe back then MHL was set to become the next Microsoft

Interesting volume break through 2c today, c'mon you lazy dogs give us some info
 
Do you think price movement could be due to some saying they spoke to Jon and him telling them that the wait should be over and news due Monday. I rang and spoke to him and he said just said I am working on something now and you would be right to guess that you will hear something very soon. But I felt like saying how long is a piece of string and am I being strung along lol.
 
Yeah guys this is crazy they need to get of there fat ass,es and inform us to what they are doing with OUR MONEY!!!!!!
How much do,s an update cost, a A4 sheet of paper and a hours work and a 30 cent fax or a free email.

At least keep the people who own the company informed to what our money is doing.

This is a insult to share holders to promise the world in conversation's and deliver nothing to the market over 5 months:banghead:

Keep it moving MHL management we dont want a revolt on our hands times are tough enough in the markets ATM with out treating share holders like they have the privilege of investing with the company and then to chit in our faces by not informing us of said progress :mad::mad:

Progress in SP has been fantatic of late and good on the buyers for spoting the bargain of a oversold uninformed share , but buyers will soon disapate if management dont come to the party with some news on progress PULL YOU FINGER OUT JON AND DO WHAT YOU ARE PAID FOR BY US, AND STOP CHITING IN THE FACE OF THE MOUTH THAT FEEDS YOU OR I WILL SPEW ALL OVER YOU LOL ROTFL :eek:
 
Mobcat while it is frustrating the only thing I suggest is to ring MHL and ask for an update. While we would all like one venting your spleen to everyone does nothing,venting your spleen to management may make them give a sit rep on what going on either way if there is nothing to report there nothing to report. I am sure they would be just as frustrated but thats the small cap world nothing runs to the time line you want it to :2twocents that why its not back up at 6 cents
 
We all here can wait when the ASX will issue MHL a speeding ticket when the sp reaches .03cents and have a good laugh of course I would also issue a ticket for driving slow on the outside lane oh that's right you could face a fine of $110 for doing that on most freeways :banghead:

cheers laurie
 
Denver, Colorado - (Marketwire - April 11, 2008) -- Oil and gas exploration company Sentry Petroleum Ltd. (OTCBB:SPLM) announced today that it has entered into a conditional joint venture agreement with Monitor Energy Limited pursuant to Monitor Energy's petroleum exploration licenses in Kyrgyzstan.

The company advises that the agreement is conditional on a 90 day financing due diligence provision. At any time prior to the expiration of the 90 day period Sentry may choose not to proceed with the agreement. All obligations and interests contained therein are not enforceable by and between the parties until the expiration of the 90 day period or Sentry's waiver of the termination clause.

Speaking on the agreement Sentry Petroleum CEO Alan Hart advised, "I stress that the agreement is conditional. We are confident that the investment community will favourably endorse the opportunity and support what we view as a significant potential addition to our rapidly evolving oil and gas portfolio."

Speaking on the potential of Kyrgyzstan, Sentry Petroleum President Raj Rajeswaran commented, "The country of Kyrgyzstan is still largely unexplored for petroleum and sits surrounded by a vast oil and gas region. If the agreement is consummated it will provide Sentry with significant exploration potential. We expect to affirm our obligations within the 90 day provision period."
Contact:
Investor Relations 866.680.7649
info@sentrypetroleum.com
www.sentrypetroleum.com
 
MHL would have to annouce this monday morning I would expect.

Keen to see the details of the JV but hopefully positive for the shareprice.
 
Well looks like a ann on Monday is a given WOOOOOO HOOOOOO :dance: going to be very interesting to see how this plays out now , elephant fields with direction now and SE Asian short term oil prospects on the cards all we need now is the news guys , and we could be in for some fun and an excuse to have a party :band:bier: cant wait been a bit few and far between in 2008 :eek:
 
DENVER, CO -- (MARKET WIRE) -- 03/11/08 -- Oil and gas exploration company Sentry Petroleum Ltd. (OTCBB: SPLM) announced today that it has signed a Memorandum of Understanding (MOU) with Medina Group Limited to secure approximately 1,680,000 acres of land in the Adavale Basin in Queensland, Australia as granted under the Petroleum and Gas (Production and Safety) Act 2004, Authority to Prospect (ATP) No.864.

http://au.sys-con.com/read/516811.htm

Medina aswell? Theres a name we have heard in conjunction with Monitor before.
 
Though this ann is probably a step in the right direction it doesn't actually instill the confidence for me in these uncertain times.

The clear emphasis on it being conditional is worrying, it looks like cash is needed to be raised and there is no mention how Sentry plans to do it.:confused:

Also we have another 90 day nervous wait before it becomes more concrete that a deal is going to be struck. This is 7 months past the date when we were promised that the JV was going to be signed off (End of December 2007).

What's more I didn't see any mention of Medina in this ann, maybe they are the ones to come up with the cash.

I would love to hear the more experienced posters opinions on this site regarding this ann ie, Young Trader, Sydneysider, mobcat & mickqld.

Are my concerns valid or should I just take a chill pill and relax a bit more?:)
 
Announcement out

Monitor Energy Ltd signs Joint Venture Operating Agreement with Sentry Petroleum Ltd.

Monitor Energy Ltd (“Monitor” or “the Company”) is pleased to announce that it has signed a joint venture operating agreement (“JVOA”) with USA incorporated Sentry Petroleum Ltd (“Sentry” or “farminee”) for Monitor’s licenses in the Kyrgyz Republic.

The farmin by Sentry to Monitor’s Kyrgyz licenses is bound by similar terms and conditions as those earlier announced by Monitor with the Medina Group which has formally withdrawn from the heads of agreement signed previously. This agreement is conditional in allowing up to 90 days from the date of signing for Sentry to complete its fund raising activities.

Highlights of the JVOA:
• a two phased funding approach has been agreed to for seismic and well(s) depending on technical conditions and results of 2007 and 2008 field seasons work programs.
• the first phase is for a minimum work commitment of 1000km for seismic or equivalent exploration technologies capable of unambiguous delineation of drillable prospects, excluding mobilization and other contractual costs. The minimum survey cost is estimated to be US$5m based on current seismic contractual, operational costs and availability. Sentry will earn an 80% stake in the Licenses after Phase one (1), but has the right to withdraw without earning should it wish to do so.
• the second phase is contingent on successful outcomes of Phase 1, however, if Phase two (2) is enacted at any time, Sentry will fund the drilling of at least one commitment well on a suitably ranked and risked prospect exclusive of mobilization and contractual cost. The minimum well cost is estimated to be US$8m based on current industry parameters. Sentry will earn a further 5% equity in the licenses after completion of Phase two (2).
35 Richardson Street West Perth WA 6005 Australia
PO Box 1440 West Perth WA 6872 Australia
Ph: +61 8 9211 1555 Fx: +61 8 9211 1500
ABN 25 009 121 644
• Farminee become Operator and will subcontract Monitor’s technical and field personnel. As Operator, Sentry is responsible for maintaining the licenses in good standing and executing all exploration work programs in an effective and efficient manner.
• Sentry will free carry Monitor for all operational and office costs as these apply to servicing the Kyrgyz operation from 2008 through to the completion of the agreed to work commitments and earning period(s).
Sentry will assume full operational responsibility after the conditional 90 day period (or earlier if conditionality is waived) for the work commitments, earning phases and operations. In the event that the fund raising activities are unsuccessful during the 90 day period, Sentry has the right to withdraw and terminate this agreement without penalty or further obligation.

The Kyrgyz Republic Oil & Gas Perspective
The Kyrgyz Republic is a Central Asian country whose southern border joins the prolific Tarim Basin, China’s dominant onshore oil and gas province with over 200 billion barrels of oil and 700 Trillion cubic feet of proven reserves. This world class accumulation of oil and gas fields lies just 150km southeast of the Company’s license areas. The equally prolific Junggar Basin is 100km northeast of the license areas and the well know giant oil and gas fields of Kazakhstan are immediately north. The southern license area is adjacent to acreage currently being explored by one of Australia’s dominant oil majors. Geologically the areas are comparable, having three prospective petroleum generative horizons, numerous large trap types and significant untapped potential. The Kyrgyz Republic has a fiscal regime advantageous to resource development and infrastructure is both existing and expanding, as the region becomes an important secure energy hub for China and the Far East.

About Monitor Energy Ltd
Monitor Energy is a Perth based exploration company with energy assets in both petroleum and uranium. The company has a strong internationally experienced management and leadership team, as well as a highly competent technical group capable of exploration operations in remote regions. The Company has its corporate headquarters in Perth, Australia and a well-resourced operations office in the Kyrgyz Republic. The joint venture with Sentry Petroleum Ltd allows the Company to continue building its energy portfolio with projects that meet its vision and business development strategy. Monitor is committed to deploying smart exploration methodologies and strategies that allow maximum shareholder value from its assets and interests.
35 Richardson Street West Perth WA 6005 Australia
PO Box 1440 West Perth WA 6872 Australia
Ph: +61 8 9211 1555 Fx: +61 8 9211 1500
ABN 25 009 121 644

About Sentry Petroleum
Sentry Petroleum Ltd is a debt free Nasdaq traded international oil and gas exploration company. The company's mission is to secure large land positions with drill ready prospects in the regions of the world with the most promise for large scale discovery. For more about Sentry please visit the website at www.sentrypetroleum.com
Further information
Yours faithfully,
Jon Roestenburg BSc, GBQ, MLM, CC
Managing Director
Monitor Energy Limited:)
 
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