MHL - Monitor Energy

[gordon2007]

May I suggest run. Take your loses and don't look back. There has been heaps of volume latelly but I'd still stay as far away as possible.

 

[irondragon]

This is an interesting stock. Victim of the Finacial Crisis. Lots of talk about dodgey management etc. However it appears that it's punters who lost a few quid having sour grapes.

Analyzing their recent Quarterly Report there are a few positives to look at-

The Company is vigorously continuing its efforts to add value through smart exploration and at the same time farm out the Kyrgyz Assets to the right partner to establish a working joint venture in both oil & gas and uranium.

Currently the company is in ongoing discussions to various large resource companies and funding groups which remains the principle corporate focus for the Kyrgyz assets.

The Paleozoic era and associated reservoirs is known to contain a large proportion of the world’s oil supply suggesting that the Company’s areas in Kyrgyzstan have untapped potential, and the existence of a petroleum system has now been established. Future work programs are
planned to unlock this potential.

The company has always maintained they have been in discussions with large resource companies. However now in the QR they have included funding groups. If they can jag a deal for funding then at MHL's current low prices, one could make some potentially big gains as a new holder. Existing holders who bought in at higher prices, potentially (possibily)have more time to ride this one out, and claw back any paper losses.

There was some decent volume and buying action yesterday driving the SP up 100%!

This may play out more favourably than people think. Then again it is high risk. Oil prices are on the rise. The Kyrgyz govt is possibily teaming up with Belarus in uranium development on known deposits in the area.

Worth a punt? Maybe as this one will probably ride higher on the back of yesterday's volume over the next few weeks. Time will tell if this stock is rising on either underwriters churning the stock or something else brewing behind the scenes.

One to watch!!!

 

[h3ath]

Up 100% over the month (since my last post) - no reason to sell yet - still looks solid with no large scale dumping.

Although I'm aware I'm playing with the devil here.

:evilburn:

 

[Putty7]

"Monitor is at an advanced stage of farm-out negotiations with a specialist uranium company with the aim of ensuring funding to carry out its ongoing technical work."

This was taken out of their announcement "Extension of uranium deposit in the KYRGYZ Republic" yesterday, today they have a trading hold pending an announcement coming Monday, could it be feasible to assume they may be about to farm out the uranium tennement.

I have a small parcel at .003, would appreciate anyones thoughts as I am relatively new to trading but it looks good to me and after reading through the previous posts feelings about the share are mixed at best.

 

[stock nub]

A new direction and a breath of fresh air! From here where we go is anyone's guess!

1 billion shares + many options. loose as a goose.

They are going to need to do a share consolidation sometime i recon

 

[stinger_au]

MHL just gave the record date, 1/10 - and the share price went up.

I have held this for longer than I care to remember, I wonder if it will rise back above what i bought it for. I hope they actual stick something into the group and suck something out for a change other than money from the stock market.

 

[skyQuake]

MHL just gave the record date, 1/10 - and the share price went up.

I have held this for longer than I care to remember, I wonder if it will rise back above what i bought it for. I hope they actual stick something into the group and suck something out for a change other than money from the stock market.

today was the ex-entitlement date. Should be 0.0035 tomorrow thanks to the rights issue (0.2c 1:1 basis) .

 

[Putty7]

Nice announcement today on the Uranium porfolio....

Monitor Farms Out Kyrgyzstan Uranium Interest

Key points:
. Monitor ensures funding of its Kyrgyzstan uranium project via farmout
. specialist Australian uranium company to acquire 75% of the Kashkasu project
located in area of historic mining
. a program of diamond drilling to begin as soon as possible
. farmin partner will then fund an exploration program to the value of $1.5m, aimed
at proving up a JORC-compliant resource
. farmout is part of Monitor’s strategy to focus attention on its growing oil and gas
portfolio.

Not a lot of movement in price or volume though as the capital raising seems to be holding things back at the moment.

 

[irondragon]

Reading through MHL's recent announcements regarding the exploration of PEL 115 in the South Australian Cooper Basin it appears drilling starts on 15th of November 2009.

The estimated time to reach primary objective (1.5 mbs of oil) is seven days. It will take a further three days post primary to reach the secondary target of gas (plus there is a high probability of oil being there too, according to previous announcements).

Could be a great trading opportunity considering the SP is currently 0.003 cents. One to keep watching.

 

[Putty7]

New announcement concerning drilling of Pel 115 today, Holding these at .003c, a lot of shares on offer after the capital raising at .002c, should see a result maybe end of November, early Decmber, market cap is around 9 mil.

Monitor Energy drilling operations start on Fury – 1.

Highlights:

• The company has commenced drilling operations on its Australian, Cooper
Basin License PEL 115 together with Operator Victoria Petroleum on the Fury
prospect.

• The Century – 3 drilling rig has been released today by Victoria Petroleum and
is mobilising to the Fury - 1 location in preparation for the well spud.

• Spud date is anticipated to be around November 14th

• Drilling is expected to take approximately two weeks to a total depth of
2000m and will intersect the primary Cretaceous Murta Formation objective
within a week from spud and the secondary objective in the Permian
Patchawarra Formation within two weeks.

• The well plan is to drill through to total depth, then log the entire open hole
section before casing and depending on results, testing.

 

[Putty7]

Monday announcement of farm out...

MONITOR FARMS OUT AN INTEREST IN PEL 115

BEFORE SPUD OF FURY-1 WELL

Monitor Energy Limited (ASX Code:MHL) is pleased to announce that it has
successfully farmed out a portion of the interest it has the right to earn in PEL 115 to a private company, Lion Petroleum Pty Ltd. Lion has agreed to pay 50% of the cost of the two-well PEL 115 farmin program with Victoria Petroleum as Operator. The terms of the farmout result in Monitor Energy Limited (Monitor) now participating in a two well back-to-back drilling program in PEL 115 with the drilling of the Fury-1 appraisal/ exploration well to be followed by the Airacobra-1 exploration well.

As a result of this farmout, Monitor has a partially free carried 42% earning interest through the two farmin wells. Importantly, upon the completion of the two well drilling program, Monitor will have earned a 42% interest in all of PEL 115 and its significant exploration prospect portfolio.

The rig is on location at Fury-1 and is currently 100% on location ready to spud. (Sunday November 15th). Monitor will provide weekly operational updates and at significant events or milestones during the drilling of the wells Fury - 1 and Airacobra -1.

Fury -1 is testing a 3D seismically defined combined Jurassic/Permian target with the potential to contain up to 28.5 million barrels of oil, if oil is present. Encouragement for the presence of oil in the Fury Prospect is provided by the oil shows and minor oil recovery in the Murta and Permian target horizons in Lightning-1, down dip and 650 metres to the southwest of Fury-1.

The second well in the drilling program, the 3D seismically defined Airacobra Prospect (figures 2 & 3), has the potential to contain up to 1.28 million barrels of oil, if oil is present. Encouragement for the presence of oil in Airacobra-1 is provided by the Airacobra Prospect being immediately adjacent to the producing Santos operated Caroowinnie/Narcoonowie Oil field, 2km to the southeast and the oil shows seen in the down dip well Pelkita-1, 4km to the north west.

Monitor Energy Ltd Managing Director Jon Roestenburg said;

“We are pleased with this farmout, as Monitor has laid off a significant part of its cost exposure to the original farmin program of paying 100% of the cost of drilling two wells to earn a majority interest in PEL 115. This has resulted in Monitor having sufficient funds on hand to pay for its share of the back-to-back drilling of the two farmin wells. Monitor through this farmin has reduced the cost of its exposure to the immediate drilling of two highly prospective prospects in PEL 115 adjacent to producing oil fields.”

The participants in the drilling of Fury-1, Airacobra-1 and their respective interests during the drilling of the wells and in PEL 115 following the completion of drilling are as follows;

Monitor Energy Limited 42%
Victoria Petroleum N.L. (Operator) 33%
Lion Petroleum Pty Ltd. 25%

The farmin by Monitor and Lion into PEL 115 is subject to the approval of the regulatory authorities.

Drilling report out today.......

Fury–1 well spuds for Monitor Energy Ltd Joint Venture.

Highlights:

• Fury–1 started drilling at 21:00 hrs on Sunday November 15th and is drilling
ahead at 42m as of last drilling report
• Drilling is expected to take approximately two weeks to a total depth of 2000m and will intersect the primary Cretaceous Murta Formation objective
by the weekend of November 21st–22nd and the secondary objective in the
Permian Patchawarra Formation within two weeks.
• The well plan is to drill through to total depth, then log the entire open hole
section before casing and depending on results, testing.
• Site preparations have commenced at the Airacobra–1 prospect to be drilled
after Fury–1 adjacent to the Narcoonowie Oil Field

Monitor Energy Ltd with Victoria Petroleum NL (operator) and Lion Petroleum Pty Ltd have started drilling at the Fury – 1 well location. The well has two objectives, the first, the Cretaceous/Jurassic Murta, McKinley and Namur Formation and a second objective in the Permian Patchawarra Formation with targeted gas and/or oil, shown in figure 1.

As per the latest daily drilling report from the Operator, well site and rig-up operations were completed in time for spud at 21:00 hours on Sunday night, November 15th. The rig is currently drilling ahead at 42m and is expected to reach the primary objective within the Murta formation by the weekend. Drilling will continue to a total depth of 2000m, after which the well
will be logged prior to casing and testing on a success basis if required.

Meanwhile, site preparations have commenced at the Airacobra Prospect further northwest of Fury and adjacent to the Narcoonowie Oil Field operated by Santos. The Airacobra well will be drilled “back-to-back” with Fury-1 to take advantage of the proximity of the drilling rig and operational personnel. The Airacobra four way dip closure is also defined by modern 3D seismic
data and will also test for oil within the Createceous/Jurassic stratigraphy common to most producing oil fields in the vicinity.

It's good to see they have reduced their risk by the farm out, hopefully Monday according to the drill report we should no if they encounter hydrocarbons, a new direction and all going well a new breath of life for this company.

 

[Putty7]

Monitor Farms into PEL 110

Highlights:

• Monitor signs PEL110 Farmin with Cooper Energy Ltd
• Located on emerging prospective NW margin on Cooper Basin
• Well to be drilled around end of 2010
• Earning 20% equity by paying 40% of one well costs
• Keenia Prospect identified as current drilling target to test 1.2MBBO

Monitor Energy Limited (“Monitor”) is pleased to announce that it has signed a
farmin agreement with Cooper Energy Ltd for a 20% stake in PEL110 situated on the northwest margin of the Cooper Basin. Monitor will earn 20% equity by paying 40% of the costs of one exploration well. The well is likely to be drilled in the second half of 2010 at an estimated total cost of A$2 million.

The Cooper Basin is a deep northeast – southwest trending basin that has
generated the bulk of Australia’s onshore oil and gas production for the last several decades, figure 1. The Basin has enjoyed renewed interest by companies exploring its western and north western margins with significant new discoveries by Victoria Petroleum, Beach Petroleum, Cooper Energy and Stuart Petroleum.

The story of the Cooper/Eromanga Basin`s western and north-western margins is still just developing. Knowledge of the size and types of oil traps is still evolving, including the possibility of stratigraphic traps of larger size than traditional anticlines and faulted anticlines with the mature Birkhead/Hutton Formations showing strong potential.The possibility of larger discoveries, renewed focus on the Cooper-Eromanga Basin`s high exploration success
rates, make the PEL 110 farm-in an attractive licence to add to our growing regional portfolio.

PEL110, a 1453km² exploration licence, lies on the up-dip edge, north of
previously discovered Kilearny and Telopea oil and gas fields and west of the James oil field, figure 2. The main reservoirs are Jurassic and Permian, however the Juradsic Birkhead and Hutton are becoming a modern reservoir/source focus.

The PEL110 Joint Venture comprised of Monitor Energy Ltd (20%), Cooper Energy (20%) and Magellan (60%) has identified 7 leads and prospects that have individual P50 undiscovered recoverable oil estimates ranging from 0.6 to 3.8 million barrels at the Birkhead/Hutton formation level, in similar stratigraphy as recent discoveries along the margin.

The Keenia prospect, shown in figure 3, is considered the most likely first drill
target, lies in the migration pathway for oil on a structural nose adjacent to the Cooper Basin deep and has the potential to contain P50 reserves of 1.5MBO. All the known prospects have the potential to contain oil in multiple reservoirs within the Birkhead/Hutton, Tinchoo and Poolowanna formations, which would increase the recoverable oil volumes should more than one formation yield a discovery.

Another Farm in for Monitor this one with COE, still a bit early to get excited but they seem to be looking at adding good resources that are largely de-risked, the Kyrgyz Uranium project with new partner Raisama sees Monitor free carried holding a 25% interest, they still have the Oil prospects in Kyrgyz to farm out which will hopefully see something happen in 2010. A positive result from the current 2 well drill program with VPE and Lion might give new life to the SP

 

[Putty7]

OIL SHOWS IN FURY-1, PEL 115, SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. (Vicpet) as operator of the Fury-1 exploration well advises that good oil shows have been observed in target sands of the Murta Formation, over a 12 metre gross interval from 1,309 -1,321 metres. The current operation is drilling ahead at 1,363 metres towards the next target, sands of the Permian Formation.

The full significance of the good oil shows drilled in Fury-1 will be evaluated by wire line logs, side wall cores and testing after the well has been drilled to the planned total depth of 2,000 metres in approximately five days time.

The presence of good oil shows in Fury-1 confirms the encouragement for the presence of hydrocarbons in Fury-1 provided by the oil shows seen 663 metre to the southwest in Lightning-1, drilled in 2006. Subsequent to the drilling of Lightning-1, a remapping of the up dip Fury Prospect 3D seismic data indicates the Fury Prospect is a four way dip closed structure with the potential to contain a combined maximum unrisked P10 Jurassic and Permian resource of up to 27 million barrels of oil and 23 billion cubic feet of gas if, oil and gas are present. Fury-1 is 5 kilometres to the northeast of the Victoria Petroleum operated Mirage Oil Field.

Vicpet managing director John Kopcheff commenting on the oil shows seen in Fury-1 said:“Vicpet is very pleased that good oil shows have been observed in the target sands of the Murta formation in Fury-1. We look forward to the evaluation of the significance of these oil shows by wire line logs and testing after the well has drilled to total depth. The drilling of Fury-1 is the first well in the renewed search for further commercial oil fields in the very large oil bearing Murta complex in the Mirage-Lightning-Fury area and follows on from our original successful discovery of the Mirage Oil Field.”

Following the completion of drilling operations at Fury-1, the drilling rig will be moved to the Airacobra Prospect to drill the second well in the PEL 115 drilling program.

Good news for Monitor today, might be the start of something after their recent new direction with the company. Still holding at .003c

 

[Putty7]

Good volume traded yesterday and again today, 183 million through today at time of writing and .003 sellers cleaned out with 103 million lined up on the buy side now (.003).

With Patersons taking the shortfall of 588 million (approx) from Cap Raising shortfall at .002 (Oct) hopefully most of these that were to be dumped have gone through now (purely speculation on my part).

Should know around Monday if secondary target of Fury-1 was successful or dry.

 

[Squawkbox]

Yes, Putty7; I am also encouraged with the sp now up to .004.

There is of course an even more prospective site to be drilled immediately following Fury, so lots of excitement ahead. I believe that MHL has made the correct decision to focus on an area in which VPE and ITC have both been doing so well.

 

[Putty7]

Wet Gas Shows in Permian Fury1

Well Drilling Progress Report

Highlights:

● Fury–1 drilling ahead to second objective in the Patchawarra , targeting 23BCF gas or a similar volume of oil if present.

● At 06:00 hrs today, December 1 2009, Fury–1 reached a depth of 1838m some 48m above the secondary objective and 162m above total depth at 2000m.

● The well has penetrated Permian sediments returning good wet gas shows,
reaching over 70 units of total gas with 50 - 70% fluorescence recorded from
sandstones in the Epsilon Formation.

● After reaching total depth at 2,000 metres, the wet gas shows observed to date in the Permian sands, as well as the good oil shows observed over the gross 12 metre interval in the Murta sands, will be evaluated by wire line logs, side wall cores and testing.

Monitor Energy Limited’s drilling operation with Victoria Petroleum NL (Operator) and Lion Petroleum Pty Ltd at Fury–1 has to date reached a depth of 1838m at 06:00hrs, December 1 2009. The section penetrated so far comprises Toolachee, Daralingie, Roseneath, Epsilon and Murteree Formation sandstones, siltstones, shales and coal seams, reaching thicknesses of 4m. Consistent multi‐component gas shows associated with coal seams and carbonaceous siltstones indicate the presence of higher order hydrocarbons in the section. Fluorescence of 50–70% very pale blue green, with a weak pale blue green crush cut has been recorded in Epsilon Formation sandstones. Its full significance will be evaluated after drilling.

Managing Director Jon Roestenburg, reporting from the Fury well site, said: “Gas compositions and fluorescence of the type intersected at this depth in Fury–1 are a positive indicator of the potential of the section and in particular as the coal seams are known to have generated large volumes of gas and liquids throughout the Cooper Basin. They are a positive indicator of what could be expected in the Patchawarra objective.”

It appears the second target will be on the money to go along with the first target, still a bit early but good indications. Still one well to drill after this one

 

[Sweet Synergy]

Options are looking interesting.

ASX's most traded by volume today.
Massive volume spike on MHLO chart!

 

[Putty7]

Yes theres certainly a bit of interest around at the moment both for the shares and the options, the success of the FURY-1 hole got things moving in the right direction. AIRCOBRA-1 should spud within a week aimed at a bigger target than FURY-1 so a positive result there will be interesting for the SP.

Theres a lot of traders who have been burnt by MHL, I think they are victim of their own complacency during the good times, similar to SSS, MPJ and others, maybe the GFC has given them the wake up call they needed.

Emailed them a week or so ago with regards to the outdated website, apparently a new one will be up this month.

They have sorted out their Uranium tennements in Krygystan, if they can do the same with the Krygystan Oil and Gas tennements then things should be back on track again.

 

[stinger_au]

I love the term "found good oil shows" on a fast read you could mistake this for "found oil!".

The min they say yes "Oil found" and we about to sell it on the market then the SP will rocket until then its just all hope .

 

[Putty7]

AIRACOBRA-1 commenced drilling Friday 11 November, 2340m to drill, approximately 22 days to complete, target possible 1.3 million barrels of oil. Refer to ASX announcement from VPE or MHL.