• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

MAY - Melbana Energy

Discussion in 'Stocks I-P' started by CanOz, Nov 1, 2006.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. YOUNG_TRADER

    YOUNG_TRADER

    Posts:
    4,199
    Likes Received:
    0
    Joined:
    Feb 18, 2006
    Re: MEO - Methanol Australia

    Well we should get a presentation today from that conference in Singapore that MEO are at,

    I see the resistance level being 8c, could a techie/chartie check that and correct me if needed? From what I can see a break of 8c will signal a potential breakout??
     
  2. YOUNG_TRADER

    YOUNG_TRADER

    Posts:
    4,199
    Likes Received:
    0
    Joined:
    Feb 18, 2006
    Re: MEO - Methanol Australia

    Breakout on good volume past 8c, whats the next target techies 10c? then 14c?

    10c looks like it will be hard but I wonder if this is just sentiment or has something to do with their attempted farm outs at that Singapore Oil conference on Wednesday

    Could just be sentiment but timing is very coincedental, hopefully an ASX query will come to answer my curiousity :D
     
  3. YOUNG_TRADER

    YOUNG_TRADER

    Posts:
    4,199
    Likes Received:
    0
    Joined:
    Feb 18, 2006
    Re: MEO - Methanol Australia

    Something is up massive volumes! 11M already, just broke through 10c and hit 10.5c

    Where the hell is the ASX with a pseeding ticket god they are slack, will probably realise on Sunday hmmmm I think MEO needs to explain themselves :rolleyes:

    Something is up!!!!
     
  4. RP_Automotive

    RP_Automotive

    Posts:
    82
    Likes Received:
    0
    Joined:
    Aug 28, 2007
    Re: MEO - Methanol Australia

    I sold these yesturday. I brought in just a few days before Zeus-1 reached TD. I decided that there probably wasn't alot of upside in the short term to make it worthwhile holding on, and I'd be better off putting it into other stocks....but I may be proven wrong. If the next few wells go well (excuse the pun).

    And ofcourse, the day after I sell out, it goes up.. Its probably the story of many of our lives :D :D
     
  5. YOUNG_TRADER

    YOUNG_TRADER

    Posts:
    4,199
    Likes Received:
    0
    Joined:
    Feb 18, 2006
    Re: MEO - Methanol Australia

    Can't believe the speeding ticket hasn't come yet, up 30% on almost 20M shares!

    20M is like 1 yr high volume (allbeit it its happening at much lower prices)

    I see accumulation happening at 10c so I reckon it may go higher :)
     
  6. kennas

    kennas Searching

    Posts:
    15,109
    Likes Received:
    59
    Joined:
    Apr 21, 2006
    Re: MEO - Methanol Australia

    Not too surprising it's paused at 10c, LN.

    Pretty ugly long term chart.

    A little bit of a base formed the past 3 months. A little.

    Nice to have taken a punt before the jump..
     

    Attached Files:

  7. YOUNG_TRADER

    YOUNG_TRADER

    Posts:
    4,199
    Likes Received:
    0
    Joined:
    Feb 18, 2006
    Re: MEO - Methanol Australia

    Thanks Kenna

    if it breaks 10c where do you see next tech/chart target? Is it 14c?

    10c looks like a big stop point and its already moved very hard today, I certainly am not a buyer at these levels, I bought before the storm, but I'm also not a seller, I am happy to roll the dice and see why 21M shares have traded
     
  8. kennas

    kennas Searching

    Posts:
    15,109
    Likes Received:
    59
    Joined:
    Apr 21, 2006
    Re: MEO - Methanol Australia

    Somewhere around 14/15 cents, yes.

    Haven't looked at the funnys at all, so no comment on the possible market perception driving it. I assume it has something to do with ethanol...
     
  9. joey calzone

    joey calzone

    Posts:
    11
    Likes Received:
    0
    Joined:
    Apr 10, 2008
    Re: MEO - Methanol Australia

    32m volume... wow. Still no price query either. Here's hoping this will actually hold near 0.10. I picked up some more MEO last time it was at 0.10, things are finally looking promising.
     
  10. YOUNG_TRADER

    YOUNG_TRADER

    Posts:
    4,199
    Likes Received:
    0
    Joined:
    Feb 18, 2006
    Re: MEO - Methanol Australia

    Almost 36M and finshed near the days high ending up 30%

    Wonder whats in the wind and when the ASX will get off their buts and query them? :rolleyes:
     
  11. bigdog

    bigdog Retired

    Posts:
    5,786
    Likes Received:
    1,182
    Joined:
    Jul 19, 2006
    Re: MEO - Methanol Australia

    Young Trader, the ASX did read your posting!!!

    volume today is looking vg!!!
    MEO 0.11 +0.011 +11.11% 5,554,909 shares $595,043 @ 27-Apr 10:09:48 AM

    Date ----- Close Volume
    24-Apr-09 0.099 35,659,069
    23-Apr-09 0.076 1,437,054
    22-Apr-09 0.079 1,443,413
    21-Apr-09 0.075 1,500,401
    20-Apr-09 0.076 1,120,237
    17-Apr-09 0.074 2,605,510
    16-Apr-09 0.073 3,617,663
    15-Apr-09 0.069 1,013,504
    14-Apr-09 0.069 869,499


    27-04-2009 09:25 AM Response to an ASX Price Query
    http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00947032

    1. The Company is not aware of any information that has not already been announced to the market.

    3. It is likely that MEO’s operating result for the financial year ended 30 June 2009 will vary by more than 15% compared to the operating result for the financial year ended 30 June 2008 due to the likely write-off of exploration expenditure relating to the Zeus-1 well drilled in WA-361-P in January/February 2009 which failed to discover hydrocarbons.

    4. There is no reason, at this point in time, to think that MEO will record any material abnormal or extraordinary item for the financial year ended 30 June 2009.

    5. The Company notes the rise in the share price and significant turnover on Friday 24 April 2009 and offers the following possible explanation for this increase:

    In the Quarterly Activities Report released to the market on 20th April for the period ended 31 March and in Investor presentations dated 19th March 2009, the Company highlighted:-

    (a) Preliminary gas-in-place estimates for the Artemis Prospect (WA-360-P – MEO 70%) of between 6 and 9 Tcf. The preliminary volumetric estimates are based on significant technical work undertaken during the quarter aimed at providing evidence for the extension of the neighbouring Wheatstone gas discovery into WA-360-P. The 2004 Wheatstone gas discovery is expected to enter the Front End Engineering and Design (FEED) stage this year for a proposed 10 Mtpa LNG project. The technical work undertaken by MEO during the quarter provides the WA-360-P Joint Venture with encouragement that an extension of the Wheatstone gas field is technically feasible and that the Artemis prospect represents an attractive target upon which to base the year 5 (commencing 1 February 2010) commitment well.

    (b) The Quarterly Report also stated the MEO was about to launch a formal farm-out process for WA-360-P (MEO 70%) and NT/P68 (90-100%) at the Seapex Conference held in Singapore last week (21 - 23 April).

    (c) The 19th March investor presentation indicated that preliminary mapping of the Blackwood gas discovery (MEO 100%) in NT/P68 based on the newly processed Blackwood 3D seismic data integrated with existing 2D data indicated substantial structural closure at East Blackwood. Appraisal drilling is required to confirm whether there is sufficient gas in the Greater Blackwood to underpin the first of MEO’s approved 1.75 Mtpa methanol projects.

    (d) The Quarterly Report stated that cash on hand at 31 March was $21.8 million, equivalent to approximately 5 cents per share. At the April 24 closing price of 9.9 cents per share, the market is only ascribing ~$20 million to MEO interests in WA-360-P (MEO 70%) together with the Blackwood (MEO 100%) and Heron (MEO 90%) gas discoveries in NT/P68 and the clear commercialization path for stranded Bonaparte Basin gas via MEO’s proposed Tassie Shoal gas processing hub concept.
     
  12. bigdog

    bigdog Retired

    Posts:
    5,786
    Likes Received:
    1,182
    Joined:
    Jul 19, 2006
    Re: MEO - Methanol Australia

    ASX ANN today and below is page 16 of the presentation
    22/05/2009 Investor Update May 2009
    http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00955106

    $22 million in cash and current market value $50 million
    Potential value of WA‐360‐P Artemis prospect ~$2.50 per share ~$1.0 Bn market capital


    Value proposition
    Compelling value gap – requires catalyst(s) to close
    …………………………………………….. Share Value
    Share Capital ………………………. Price (A$m) Remarks
    417m ordinary ……………………..$0.12 $50m Close at May 21st
    Less cash on hand…………………$0.05 $22m $21.8m at March 31st
    Market value of MEO projects $0.07 $28m Net of cash

    Potential value of MEO Projects
    +Tassie Shoal (50‐90%)
    EIA Approvals for gas projects ??? ??? Recent A$1 Bn deal with KLC for Browse onshore LNG site

    +NT/68 discoveries (90‐100%) …….. CSG paying >US$0.50/3P Mcf!
    Greater Blackwood……………….??? ??? Potential to underpin TSMP (I)
    Heron North…………………….……??? ??? Potential for liquids rich gas
    Heron South…………………….……??? ??? Potential for liquids rich gas

    +WA‐360‐P (assume 20% equity)
    Artemis prospect (~9 Tcf GIP) ~$2.50 ~$1.0 Bn 80% Rec., US$0.50/Mcf, Fx $0.70

    529
     
  13. JAKSPARA

    JAKSPARA

    Posts:
    24
    Likes Received:
    0
    Joined:
    Feb 18, 2009
    Re: MEO - Methanol Australia

    up 40% on large volume :eek: and no news. hmmmm. was lookin to pick up a few today @ 15cents lol. Missed the boat again.:(
     
  14. woltage

    woltage

    Posts:
    28
    Likes Received:
    0
    Joined:
    May 10, 2008
    Re: MEO - Methanol Australia

    No news indeed...

    - Extract selling out, 25mill left (probably all done now though).
    - Australian Small Cap Investor backed MEO in their monthly report out today
    - A number of substantial companies have expressed interest in checking out technical data for WA-350-P farm-out
     
  15. Trader Paul

    Trader Paul

    Posts:
    1,045
    Likes Received:
    0
    Joined:
    Jun 5, 2007
    Re: MEO - Methanol Australia

    :) Posted 21062009

    Hi folks,

    MEO ... lifted off its recent lows on Friday, with good supporting
    volume ..... as requested, here’s our astroanalysis, over coming months:

    12-15062009 ..... minor and positive cycle

    19-22062009 ..... minor time cycle

    26-29062009 ..... a very positive spotlight on MEO

    06-07072009 ..... significant and positive news expected here.

    10-13072009 ..... minor cycle

    20-21072009 ..... 3 minor and positive time cycles in play

    29072009 ..... minor cycle

    06-07082009 ..... 2 significant time cycles, should also bring
    some positive news, as well.

    28-31082009 ..... minor and positive spotlight on MEO

    01092009 ..... significant and negative time cycle ... finance-related ???

    05092009 ..... short and aggressive rally expected here.

    07092009 ..... significant and negative news expected here.

    25-28092009 ..... minor and positive cycle ... finance-related ... ???

    29-30092009 ..... negative spotlight on MEO

    14102009 ..... significant and negative news expected here.

    20102009 ..... another significant and negative time cycle

    29-30102009 ..... 2 time cycles and positive spotlight on MEO

    02112009 ..... significant an positive news expected here

    13112009 ..... another positive cycle ... finance-related ... ???

    20112009 ..... minor cycle

    27-30112009 ... minor cycle

    07122009 ..... minor cycle

    10122009 ..... significant and negative news expected ... ???

    28-31122009 ..... 2cycles to bring a negative spotlight onto MEO.

    Updated MEO chart, attached below.

    More later.

    happy trading

    paul

    :)

    =====
     

    Attached Files:

  16. Big lance

    Big lance

    Posts:
    2
    Likes Received:
    0
    Joined:
    Jun 2, 2009
    Re: MEO - Methanol Australia

    hmm, very interesting.
    has anyone got a cppy of the australian small cap research?
    lets hope we get another run today, to recoup some of the losses!!
     
  17. bigdog

    bigdog Retired

    Posts:
    5,786
    Likes Received:
    1,182
    Joined:
    Jul 19, 2006
    Re: MEO - Methanol Australia

    The MEO SP today is looking great +26.19%
    Already 37% of Friday's total volume in the first 50 minutes!!!!

    -- Friday was a VG day also!!

    MEO 0.265 +0.055 +26.19% high of 0.265 16,200,390 shares $3,936,608 @ 22-Jun 10:52:51 AM

    Date....... Close Volume
    19-Jun-.09 0.210 43,345,596
    18-Jun-09 0.150 1,156,434
    17-Jun-09 0.150 5,077,087
    16-Jun-09 0.155 2,977,168
    15-Jun-09 0.155 8,376,741
    12-Jun-09 0.170 7,244,646
    11-Jun-09 0.160 24,100,624
    10-Jun-09 0.175 26,677,329
    09-Jun-09 0.165 17,403,082
    05-Jun-09 0.140 4,642,425

    563
     
  18. Trader Paul

    Trader Paul

    Posts:
    1,045
    Likes Received:
    0
    Joined:
    Jun 5, 2007
    Re: MEO - Methanol Australia

    :)

    Hi folks,

    Again today, MEO confirmed our astroanalysis, by trading to the
    script above, with a timely lift of more than 11% and good
    supporting volume, ahead of significant and positive news,
    expected early next week ..... :)

    happy trading

    paul

    :)

    =====
     
  19. bigdog

    bigdog Retired

    Posts:
    5,786
    Likes Received:
    1,182
    Joined:
    Jul 19, 2006
    Re: MEO - Methanol Australia

    ASX ANN
    30-06-2009 09:07 AM MEO Artemis 3D 30 June 2009
    http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00964619

    MEO Australia Limited ABN 43 066 447 952 Tel: (+61 3) 9614 0430 Level 17 Fax: (+61 3) 9614 0660 500 Collins Street Email: admin@meoaustralia.com.au Melbourne Victoria 3000 Australia Website: www.meoaustralia.com.au

    ASX AND MEDIA RELEASE
    Artemis 3D marine seismic survey processing completed on schedule
    Key Points:

    Processing of the Artemis 3D marine seismic survey has been completed on schedule

    Survey is critical to de-risking the ~9.5 Tcf (gas-in-place) Artemis prospect ahead of drilling

    MELBOURNE, AUSTRALIA (June 30th, 2009) -- MEO Australia Limited (ASX: MEO) has been advised by Petroleum Geo-Services Australia Pty Ltd (PGS) that processing of the 250 km2 Artemis 3D seismic in WA-360-P (MEO: 70%, Operator), offshore Carnarvon Basin Western Australia has been completed on schedule and the dataset is expected in house today.

    The survey was acquired in March 2009 to help delineate the northern extent of the Artemis prospect identified on MEO’s existing 2007 3D seismic survey, in preparation for the drilling of an exploration well, currently scheduled for 2010. Interpretation of the Artemis 3D seismic survey is a critical component of de-risking the Artemis prospect ahead of this drilling commitment.

    MEO launched a formal farm-out process in late April to attract a partner to fund the exploration well. The company has advised prospective parties that indicative farm-in offers are due by 31st July 2009.

    WA-360-P participants................................................................ Equity
    North West Shelf Exploration Pty Ltd (MEO subsidiary, Operator) 70%
    Cue Energy Resources Limited (ASX: CUE) 15%
    Gascorp Australia Pty Ltd (Unlisted) 15%
     
  20. bigdog

    bigdog Retired

    Posts:
    5,786
    Likes Received:
    1,182
    Joined:
    Jul 19, 2006
    Re: MEO - Methanol Australia

    15-07-2009 02:19 PM MEO Artemis 3D Seismic - Preliminary Findings

    http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00968902


    Artemis 3D seismic – preliminary findings
    Key Points:

    The new 250 km2 Artemis 3D seismic survey was delivered on schedule in early July

    Preliminary findings confirm Artemis prospect as an attractive drilling target

    Artemis gas-in-place likely to increase from previous estimate of ~9.5 Tcf on permit

    New data now available to prospective farm-in parties

    Extension of 31st July deadline for indicative offers under consideration
     
Loading...

Share This Page