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MMR - MEC Resources

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moneymajix

moneymajix

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This stock is doing well lately.

Great gains of late.


This moring it is 14c, up 22%


8.4c on the 25th June.

2 anns on 25th

25/06/2007 Advent Energy - Investment - Farmin Transaction 2

25/06/2007 CTP: Second Major Farmout 2


No one wants to sell. Next seller at 15c.
 
ASX Announcement MEC Resources Ltd

PEP 11 – Reference Santos/Ampolex Studies

Background

MEC (through its investees) has been granted an option to acquire up to an 85% interest in Petroleum
Exploration Permit PEP 11(former NSW 97-01), an oil and gas permit located in the Offshore Sydney Basin.
A literature review has resulted in a number of key studies being identified which were produced by prior
tenement holders Santos and Ampolex. The following extract is produced from a major study “Offshore
Sydney Basin” produced by the Federal Government Bureau of Research Sciences in conjunction with the
NSW Department of Mineral Resources. The referenced paper is reproduced in full on the MEC website.
www.mecresources.com.au. The extracts follow.


http://www.asx.com.au/asxpdf/20071119/pdf/315x8jzgqy8yw8.pdf



12c.
 
Someone come with a huge bid order, 500000 units.
What is going on? Preset trading or Is he going to pump up MMR?
 
I think the guy is very bold to place such an big bid order at 12c in today's bear market on small shares like MMR. He probably knows something and very confident that MMR is worth at least 12c. This bidding is very suspicious.
 
Re: MRR - MEC Resouces

ALL ORDS is down over 2% again today.

One green stocks is MMR.

UP 16%, 2 cents, to 14.5c.


MEC Resources Limited (MMR) is a Pooled Development Fund investing into exploration companies targeting large energy and mineral resources. Sectors with limited supply and strong demand such as Oil and Gas, Uranium and Gold will be the initial focus.
 
Re: MRR - MEC Resouces

Indirectly controls Approx. 9-9.5 mill.shares and options in CTP via Advent..
An alternative route into CTP?
 
Re: MRR - MEC Resouces

I have decided to take an early but small position in MMR as a BESBS play. The drilling target in the Sydney Basin (with BUY) is still a long way off but at least tenders have been called for the job. Given the location and the probable size of the target, MMR could lift nicely as a BESBS investment.

Holding a small parcel at 10c.
 
Re: MRR - MEC Resouces

Some more buying today, up to 13c as people anticipate news of the test rigs going into place? Be good if there was a news article like this the one mid last year in the Telegraph to upset the Greens some, reinforce government support and get the project into the news again. The stock seems so thinly held.

I wonder how long before they get any decent appraisal of the reachable reserves? Must say I have littlew understanding of offshore drilling and the like.
 
Re: MRR - MEC Resouces

Came across this one recently and punched some numbers for it. Looks a decent speculative punt. The potential company maker for MMR is the offshore Sydney basin gas prospects PEP 11. Potential gas resources of 16.3TCF. Although the exploration is run by Advent Energy (an unlisted company, 74% owned by MMR), there are several pros with MMR:

1. MEC is registered by the Australian Federal Government as a Pooled Development Fund (PDF) enabling most MEC shareholders to receive tax free capital gains on their shares and tax free dividends. See the below link for information about PDFs
http://www.ausindustry.gov.au/Ventu...ges/PooledDevelopmentFundsTaxConcessions.aspx

2. Potential participation in a possible Advent Energy IPO when the market turns. Advent back in December 08 raised $7m by issuing 14m shares at 50c each.

3. MEC/Advent Energy association with Chinese Oil and Gas Company (CNLC).

IMO, the price catalyst for MMR are:
1. Finalisation of drill rig tender
2. Announcement of farm in partner (esp linking with any oil/gas major)
3. Concrete timetable for drilling

On the other hand, the above catalysts are also risks, if none of it gets finalised.

Im happy to hear any comments or opinions?

Disclaimer: I hold a small parcel, DYOR!! and the above does not constitute financial advice, they are merely my person opinions.
 

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Re: MRR - MEC Resouces

Nice post, Sleeper.

The big issue for MMR is to get a rig and get drilling locked in. Once this occurs, this one should fly given the potential size of the target and the proximity to demand. Until this is donethough, we will wait.


I have a few pennies in this one and happy to leave it there for the reasons that you mention above. I don't want to be out of this one when the news arrives.:)
 
Re: MRR - MEC Resouces

I rang MEC resources yesterday because I was confused over who (BUY OR MEC) has the majority interest over PEP 11.

The person I spoke to advised that drilling tenders were being evaluated atm and an anouncement will be made to the market soon (didn't give a specific date).

The person I spoke to also advised MEC will have 85% interest once drilling has commenced.

I hold MMR
 
Bounty's big energy
PURE SPECULATION: Robin Bromby | August 17, 2009
Article from: The Australian
http://www.theaustralian.news.com.au/business/story/0,28124,25937534-18261,00.html

ONE of the constants of living under the shadow of Pure Speculation is what the Americans call Monday morning quarterbacking, and in our case this involves being told -- usually in no uncertain terms -- where we got the wrong end of the stick.

Don't misunderstand; we are thrilled to know that someone out there is reading this every week (and especially those who, rather than part with $1.50 for a copy of the paper, email in outrage that the column is late being posted on the website).

Three years ago, when this column had just begun -- yes, we know, it seems longer, much longer -- one of the earliest such Monday morning emails was to take Pure Speculation to task for publishing an item about a history of oil slicks being sighted off the NSW coast from Newcastle.

We said that Bounty Oil & Gas (BUY), which held the exploration licence for that offshore area, believed this was a big lead, that the slicks were caused by natural seepage from the seabed. The licence area had been dropped in the early 1990s by Santos (STO), which, although it had found some gas, was too heavily focused on the Cooper Basin at that time.

Nonsense, came the emails. Those slicks were more likely from ships discharging oil into the sea. And there the matter rested.

Bounty is now in joint venture with unlisted Advent Energy, which is controlled by listed pooled development fund MEC Resources (MMR). Now the quest for (mainly) gas but also some oil off this part of the NSW coastline is getting serious. And Queensland coal multi-millionaire Ken Talbot, through his private investment company, has taken a 10 per slice of Advent.

MEC believes there could be more than 16 trillion cubic feet of gas and has started on the road to raising serious money by mandating Pareto Securities of Norway as the lead broker for Advent's capital raising. Advent has the stake in the project as MEC's fund status (free of capital gains and dividend taxes) prevents it from operating a business.

Pareto has raised some very big money for clients in recent years, and big sums will be needed given that the MMR-BUY permit covers 8100sqkm. Good timing, too, with the cost of drill rig hires being about half what it was a few years ago.

Seems like there's more to this story than just a couple of bulk carriers discharging from their bunkers.
 
Re: MRR - MEC Resources

Here we go! :D

ASX/MEDIA RELEASE
17 August, 2009
PEP 11 Sydney Basin – Funding and Update
Bounty Oil & Gas N.L. (“Bounty”) is pleased to announce important developments towards funding and
drilling the Fish Prospect in Petroleum Exploration Permit 11 (“PEP 11”) Sydney Basin.
Currently Bounty holds 75% of PEP 11 and is the nominated operator. Day to day operations are
however conducted by Advent Energy Pty Limited (“Advent”) a subsidiary of listed MEC Resources
Limited (“MEC”) (ASX Code: MMR) Advent has an option to increase its interest in PEP 11 from its
current 25% to 85% by funding and drilling the first exploration well in PEP 11 as part of the exploration
work commitment required by the terms of PEP 11. Advent carries out day to day operations as Bounty’s
designated agent. Bounty will be free carried through the first well but will then be required to contribute
15% towards all further exploration and development.
MEC has over recent months made a number of announcements showing material progress towards
providing the required strong technical underpinning for a wildcat drill test of the undoubted petroleum
potential in PEP 11.The permit covers 8,100 square km of the offshore Sydney Basin.
With the required technical groundwork for a drill test substantially completed, MEC has now announced
a critical step towards funding the well. MEC has entered a mandate with one of the world’s leading
petroleum finance groups; Pareto Group of Norway. Norway has massive offshore gas developments and
is the European leader in gas exports.
Bounty summarises the steps so far:
• Seismic surveys by Bounty in 2004 and highly advanced seismic analysis and other surveys
conducted by MEC have proved that gas is being generated and expelled from the Permian age
coal and related sequences in the offshore Sydney Basin within PEP 11.
• MEC has:
• identified the Fish Prospect, a massive structure containing the gas generating
sequences with estimated prospective recoverable gas resources of 9.2 trillion cubic feet
(at P10 probability level) (920 million barrels of oil equivalent) and additional gas
potential in the Permian –Triassic age sequences totalling 16.3 trillion cubic feet for the
permit (including Fish).
• selected a drill location to test the Fish Prospect with a jackup drill rig.
• announced on 29 May 2009 that it had issued tenders for a rig to drill the Fish Prospect.
• announced on 11 August 2009 that in addition to the completion of the well design and
testing program for the Fish Prospect it had identified seismic anomalies on adjoining
2
seismic lines indicating the possibility of larger gas accumulations in younger Quaternary
aged sediments further east of the Fish Prospect with analogies to the giant Marlim gas
field offshore Brazil.
• announced the Pareto Group funding mandate on 14 August 2009.
Commenting on PEP 11, Bounty’s CEO, Mr Philip Kelso said:
“Bounty sees the funding arrangement announced by MEC as an extremely positive step towards drilling
the Fish Prospect in PEP 11.Once the technical basis for testing in the offshore Sydney Basin had been
established by MEC they commenced the challenging task of funding. The technical strength of the
project presented by MEC has now attracted Pareto Group who have raised US $25 billion for a range of
international oil and gas majors in the last 3 years.
This step by MEC provides confidence that funding and drilling of PEP 11 will now proceed. If the Fish
well is successful in discovering commercial gas offshore from New South Wales there is the potential for
a major re-ordering of the New South Wales gas market and for establishment of an LNG export project
based in the Port of Newcastle simply because the gas volumes would be much larger than could be
utilised in the State which currently consumes 890 bcf per annum. Such a development of clean burning
gas would also have the potential to supply energy for power generation in the Hunter region.
Bounty looks forward to progress towards completion of MEC’s funding for the well”
 
Was up 70% when I left for golf and got home to find it was up 160%(BUY up 67%), is that good? :D

54 buyers for 3,148,473 units 6 sellers for 153,005 units

Going to be an interesting week.
(disclosure I hold!)
 
Wow..this smashed my valuation of 33c, I have greatly underestimated the power of the media in getting MMR moving. (and a special thx to management in moving things along too! :))
 
Yeah what a day :D Am surprised as the announcement was little more than a recap of the past few months with the Friday Pareto involvement triggering a day later that this could be real? Looks like the market is going to take a hit tomorrow so be interesting to see how MMR handles it :rolleyes: Holding lots of options and also some fully paids for hopefully an entitlement issue in Advent at some time.
 
G'day MMRers.

Great day yesterday and holding up OK today given the market.
Once we have a rig confirmed and finance all settled, this will go off again if the action of the past 2 days is any guide. The context of an elephant sized drilling target in the vicinity of the Sydney Basin will get the media and punters' attention IMHO.

As I said earlier on this thread, this one has all the hallmarks of a classic BESBS play and plenty of potential rewards for those who hold through the drill.

Holding MMR at 10c :)
 
All happening for MMR :):)

1) SSPP ann Aug 19th didn't excite the market, limit of $15,000 per shareholder at a 10% discount to the ave weighted price of 5 days prior...
2) BUY put the cat out there this morning with their statement on PEP11 "if well is a commercvial success BUY estimates an increase in its Enterprise Value (IEV) of $2.75 per share" :rolleyes: BUY and MMR both up over 30% today
3) MMR just posted the Advent preso of today where they plan to raise $27.5M with Talbot already stumping up $7M leaving $20.5M to be issued. Not clear to me how this be divied up. MMR stake in Advent will decrease from 82% to just over 50%.

Best of luck MMR holders with the Advent IPO.
 
Re: MRR - MEC Resouces

sleeper88 said:
Came across this one recently and punched some numbers for it. Looks a decent speculative punt. The potential company maker for MMR is the offshore Sydney basin gas prospects PEP 11. Potential gas resources of 16.3TCF. Although the exploration is run by Advent Energy (an unlisted company, 74% owned by MMR), there are several pros with MMR:

1. MEC is registered by the Australian Federal Government as a Pooled Development Fund (PDF) enabling most MEC shareholders to receive tax free capital gains on their shares and tax free dividends. See the below link for information about PDFs
http://www.ausindustry.gov.au/Ventu...ges/PooledDevelopmentFundsTaxConcessions.aspx

2. Potential participation in a possible Advent Energy IPO when the market turns. Advent back in December 08 raised $7m by issuing 14m shares at 50c each.

3. MEC/Advent Energy association with Chinese Oil and Gas Company (CNLC).

IMO, the price catalyst for MMR are:
1. Finalisation of drill rig tender
2. Announcement of farm in partner (esp linking with any oil/gas major)
3. Concrete timetable for drilling

On the other hand, the above catalysts are also risks, if none of it gets finalised.

Im happy to hear any comments or opinions?

Disclaimer: I hold a small parcel, DYOR!! and the above does not constitute financial advice, they are merely my person opinions.
Click to expand...

Wonderful post back in July sleeper88 and your value estimation wasn't too shabby either. You also called out the pdf status and I'm gobsmacked more folk didn't get into this thread.

I've been mentioning on various posts and again last night under BUY, before buying into MMR0 again this morning at 22c. Today MMR up nearly 50% to 54c and MMRO up 70% to 34c, they can afford to settle some! Go you good thing :)
 
Hi All,

I got in at $0.43 after i couldn't get online for the opening of trade, but I'm pretty happy with the progress. How far can this stock run, and what's a fair market value for the stock?

Love the fact it's tax free too!

Cheers.
 
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