MHL - Monitor Energy

[Putty7]

Another Trading Halt, another Cap Raising. I suspect after drilling the two holes they will be a little shy of cash and if they are successful with them they need to be brought online quickly, not going to do the SP any favours but as long as the shareholders get a look in will have to live with it, should be announced before Thursday.

 

[prawn_86]

Another Trading Halt, another Cap Raising. I suspect after drilling the two holes they will be a little shy of cash and if they are successful with them they need to be brought online quickly, not going to do the SP any favours but as long as the shareholders get a look in will have to live with it, should be announced before Thursday.

Another one of these speccy oilers who only ever seem to drill the odd hole here and there and never bring anything online, yet the management still rake in a few hundred k each year. Tough life...

 

[Putty7]

Another one of these speccy oilers who only ever seem to drill the odd hole here and there and never bring anything online, yet the management still rake in a few hundred k each year. Tough life...

Should look into starting one of these companies Prawn, this lot havent done a lot at all over the last few years, bought it as a spec and its been going great guns lately, I guess if you have to do a Cap Raising it has a greater chance of success while things are going on. I havent put these into the LKO/EGO box just yet lol

 

[prawn_86]

Should look into starting one of these companies Prawn

I have seriously thought about it.

After a few years work and some time to build up some contacts perhaps that can be my 'retirement' plan. Peg a few tenemants in a foreign country. Float the co, bring in 250k a yr and then just use shareholders cash to fly around the place 'evaluating' new prospects that will somehow never require much work but always be close to being the next big thing...

 

[Putty7]

I have seriously thought about it.

After a few years work and some time to build up some contacts perhaps that can be my 'retirement' plan. Peg a few tenemants in a foreign country. Float the co, bring in 250k a yr and then just use shareholders cash to fly around the place 'evaluating' new prospects that will somehow never require much work but always be close to being the next big thing...

I can't sook to much, made some quick cash from both LKO and EGO, if MHL go down the same path so be it, as trading stock they can be useful, I wouldn't want to become attached to them, that's what blue chips are for.

But yes, "being in the know" and just watching EGO's carry on lately, it's golden parachutes all round when the time comes to throw some drill rods at the dirt.

 

[Miner]

I have seriously thought about it.

After a few years work and some time to build up some contacts perhaps that can be my 'retirement' plan. Peg a few tenemants in a foreign country. Float the co, bring in 250k a yr and then just use shareholders cash to fly around the place 'evaluating' new prospects that will somehow never require much work but always be close to being the next big thing...

Great thoughts and sounds interesting. It is like playing the ball than watching from side line. Honestly lot of cow boys as directors have no technical competency excepting prior experience of stock broking. Look at the Doctor ex Director of Medical resources and his resource company is doing well,So they have seen how to con people while raising fund for speculative resources and get more used to it. I am in if you are going to float any mine exploration company.

May be to contact those ten great gems of Tiger Woods as a good business prospect resource. Use them for personal and client usage. Good source of income for seed money from those fat billionaires too (This line I am just kidding )

 

[Putty7]

Cape Lambert takes cornerstone stake in Monitor as part of A$2M Placement

Key points:

• Monitor Energy completes A$2M placement to fund fast-tracking oilfield development in the Cooper Basin, including testing and tieback of Fury-1 for production and if successful Airacobra, and

• Cape Lambert Resources Limited subscribes to A$1.5M of Placement (will hold approx 10.3% of issued capital post placement).

Australian energy company Monitor Energy Limited (ASX: MHL) (“Monitor” or “the Company”) has successfully raised A$2M to fund a fast-track development in PEL 115, Cooper Basin. This includes testing and tieback of Fury-1 for production and if successful Airacobra, which is currently being drilled (please see company announcement dated 15 December 2009).

The capital raising was completed by way of a placement, with a total of 500 million shares issued at 0.4 of a cent per share to raise A$2M (before costs). The placement does not require shareholder approval, as this was received at the Monitor Energy AGM on 19 November 2009.

Leading Australian resources company, Cape Lambert Resources Limited (ASX: CFE), applied for A$1.5M of the placement total, giving it an interest in the Company post placement of approximately 10.3%, with the remainder applied for by financial institutions and sophisticated investors.

The company has exciting assets in the prolific Cooper Basin in PEL 115 and is encouraged by the recent new oil discovery in the Fury-1 well, in both the Cretaceous Murta Formation and a new oil sand in the Permian Epsilon Formation. The area surrounding this discovery has enhanced prospectivity for the Joint Venture partners and will lead to near term exploitation opportunities.

“Due to the results at Fury-1 and the de-risking of several identified and new emerging prospects, the JV is looking at fast tracking the block and is reviewing either a second Fury well or an additional exploration well subject to rig and equipment availability and JV discussions,” said Monitor Energy
Managing Director Mr Jon Roestenburg.

“We are pleased to have secured such a strong cornerstone investor in Cape Lambert Resources, a company we feel can greatly assist Monitor in its significant growth plans moving forward,” Mr Roestenburg added.

Placement looks to be done, I guess at least it isn't drawn out and CFE taking a cornerstone is better than seeing it go to Instos to be dumped on the market.

 

[Putty7]

It would appear Central Petroleum (CTP) has a 12.76% stake in MHL.

Another heap of shares through yesterday and a finish of .01c.

 

[Putty7]

Sold out half of my MHL at .009c this morning after open, in hindsight should have gotten rid of the lot and picked up at .008c after the scalping of the fast rise on close yesterday, but you can't have everything, free carried with 5 million shares, shouldn't be to long now until they announce a drill report on Airacobra-1 if they have found anything, wouldn't think they are far off the primary target zone. Topped up my NGE

 

[spottygoose]

http://www.afr.com/p/markets/market_wra ... AklGKzYbFL

Street Talk
Central Petroleum enters Monitor battle
PUBLISHED : 17/12/09

Exploration minnow Monitor Energy is rapidly finding its way out of obscurity and into a very interesting situation.....


anyone have online membership ?

 

[Putty7]

Sold out half of my MHL at .009c this morning after open, in hindsight should have gotten rid of the lot and picked up at .008c after the scalping of the fast rise on close yesterday, but you can't have everything, free carried with 5 million shares, shouldn't be to long now until they announce a drill report on Airacobra-1 if they have found anything, wouldn't think they are far off the primary target zone. Topped up my NGE

Sold out the last of these Tuesday at .005c, in hindsite the whole lot at .009c when I got rid of the first lot would have been the smart thing to do but CTP and others dumping their shares was unforeseen by me, either CTP was looking for a quiet accumulation (maybe takeover) and didn't like CPE poking their nose in or they saw a quick cash opportunity (or both), Airacobra-1 has a slight chance of a find at depth but the primary zones have yielded nothing, still a good chance of another run when they look at adding wells to Fury prospect and they have other prospects earmarked, might look into these at a later date either when more wells are to be drilled or they release some actual figures for Fury-1.

 

[paulchow2k]

Sold out the last of these Tuesday at .005c, in hindsite the whole lot at .009c when I got rid of the first lot would have been the smart thing to do but CTP and others dumping their shares was unforeseen by me, either CTP was looking for a quiet accumulation (maybe takeover) and didn't like CPE poking their nose in or they saw a quick cash opportunity (or both), Airacobra-1 has a slight chance of a find at depth but the primary zones have yielded nothing, still a good chance of another run when they look at adding wells to Fury prospect and they have other prospects earmarked, might look into these at a later date either when more wells are to be drilled or they release some actual figures for Fury-1.

Yes I agree with you Putty7. Definitely a disappointment for now and plenty of fun and games left there. Just watching it with interest.

Paul

 

[Putty7]

Yes I agree with you Putty7. Definitely a disappointment for now and plenty of fun and games left there. Just watching it with interest.

Paul

Gday Paul, couldn't help myself on Monday, bought back in and happy to do so. Even after the dumping today, I would expect .006c on open even after the pre 4pm playing today to see it finish at .005c on a hatfull of shares. Just my opinions of course but it's not looking like the duster I forecast as the prophecy of doom earlier, add Fury-1 and Airacobra-1 flow rates, maybe a second well at Fury and theres another prospect near Fury they are looking at drilling and it could be an interesting month or two ahead.

Now that CTP have nicked off Cape Lambert might be keen to grab a few more percent, who knows. It's still very much a speccy but at least management seem to have woken up out of their stupor.

 

[Putty7]

ASX Announcement
8 January, 2010

Oil Confirmed at Airacobra‐1

Highlights:

● Airacobra‐1 oil shows confirmed by wireline logging and core samples

● Two live oil zones have been established in the Epsilon and Patchawarra Formations

● Testing at Airacobra‐1 to follow testing at Fury‐1 ‐ commencing later this month.

Monitor Energy Ltd (ASX:MHL) is pleased to announce that logging and sampling of its Airacobra‐1 well confirms oil in the Epsilon and Patchawarra Formations. The well reached total depth of 2163m at midnight January 6th, 2010. The basement unconformity was intersected at 2122m, thereby completing the drilling operation on the well.

Wireline logging and sidewall core (SWC) sampling between 2016‐2018m, 2117.5‐2119m respectively, confirm the presence of light crude oil within the Epsilon and Patchawarra Formations. Further formation evaluation and the testing results will be used to establish the exact hydrocarbon column in the well.

Significantly an oil water (OWC) has not been established at the Airacobra location and may indicate a potential for further drilling targets. The SWC sample at 2119m with oil is from the lowest sandstone in the well immediately above at the basement unconformity at 2122m suggesting that the oil water contact (OWC) is deeper (on the structural flanks) than the lowest sand at the bottom in the well.

The well has been cased and suspended for flow testing and completion as a future oil producer. Final formation evaluation and technical work will be fast‐tracked to develop the testing program which will coincide with the testing and completion at the Fury‐1 discovery a few kilometres south. This is anticipated to commence later in January 2010.

Mr Jon Roestenburg, Managing director, said; “The success of the Permian objective at Airacobra‐1 is extremely encouraging for the company and its joint venture partners. The composition of the oil at the depth of these reservoirs is likely to be close to that of diesel, or very light crude which attracts a price premium. Volumetrics of the structure will be fine tuned with the existing 3D seismic data the JV has in‐house. The two well drilling program at both Fury‐1 and Airacobra‐1 has been extraordinarily successful for the company and has opened several near term exploration, production and development opportunities.”

More good news for MHL, 2 wells, 2 results. No volumes as yet but by the looks they won't become available until maybe Feburary.

 

[Solitus]

I've been watching Monitor since the ramp up in December, and am holding some at 0.4c bought in early January.

Still awaiting news on oil shows in FURY-1 and AIRACOBRA-1. No further updates after the stuff about Santos access roads being too wet and closed.

A little concerned that between these wells, and the Kashkasu drilling programme for Uranium in Kyrgyzstan that they're stretched too thinly, but the chart is looking interesting.

Its looking to me like there's some good potential for a breakout here? (warning I'm very new at this whole TA thing - thats why I'm posting, as some feedback from more experienced traders would be great!)

Narrowing of Bollinger Bands and holding the resistance line at 0.4c (sticking it out at the 62% retracement), plus MACD golden cross earlier this week, and 20 day MA dipping under the 50 day.

I realise that with prices so low the swings are enormous percentage-wise, but it looks to me like this has some potential for good short-term returns?

 

[Putty7]

Have added MHL to my specs again, taken a reasonable position at .005c, by the sounds Airacobra-1 won't amount to much but they aren't going to be looking at it for a while going off their reports, as soon as it dries out a bit and access roads are reopened Fury-1 will be tested and sounds like it has promise but until flow rates are established that's all it is, good flow rates might give it another run. It also appears they will be drilling again soon in the Fury area but on another prospect so the chance of a run on another good result is also on the cards. It has been pretty stable around .005c for a while with a few low volume trades pushing it into .004c every now and again, IMHO it's worth a punt again with the upcoming work.

 

[bryos]

i agree with all your views putty7 , i am new to this forum and after being on shares.com.au for awhile, MHL has the potential if they can get access, I have heard that access is down for another few months, can anyone confirm this?
If so the SP will probably hold and dip around 0.004c as it has been doing.
I will be taking up more on this SP retreat

 

[StevieVW]

What's MHL's market depth like atm, am I likely to pick up any at $0.004 or am I just dreamin'?

Stevie

 

[Solitus]

What's MHL's market depth like atm, am I likely to pick up any at $0.004 or am I just dreamin'?

Stevie

Seems pretty unlikely unless you're willing to risk a 0.5c buy and try queue jumping on the pre-open manipulators? (not sure its possible - just spotted someone posting about it on HC yesterday I think).

Market depth has 100m buyers at 0.4c and daily volume won't get through there in a hurry. You're more likely to pick up MHLO at 0.1c it seems (I grabbed 4 million MHLO at 0.001 last week to add to my exposure).

 

[StevieVW]

Seems pretty unlikely unless you're willing to risk a 0.5c buy and try queue jumping on the pre-open manipulators? (not sure its possible - just spotted someone posting about it on HC yesterday I think).

Market depth has 100m buyers at 0.4c and daily volume won't get through there in a hurry. You're more likely to pick up MHLO at 0.1c it seems (I grabbed 4 million MHLO at 0.001 last week to add to my exposure).

I don't understand how the options work? if I buy however many and pay for them like a normal share and I let them expire do I loose my $$?

If someone could explain how that works it would be great, I've only invested in fully paid shares so far.