MEO 0.00% 0.0¢ meo australia limited

oil and gas gazette sep 05

  1. 721 Posts.
    Been Wondering where the interest has been coming from buy side been building for some weeks

    long term trend broken to upside
    could have some legs


    oil and gas gazette sep 05:

    “Epenarra has a mean potential of some
    6tcf and the company expects that could be
    good quality gas, underpinning our
    aspirations for the approved LNG project on
    Tassie Shoal.
    “So it’s quite a significant activity.”
    He said the farminee would not only earn
    an interest in the permit, but also a
    commensurate interest in the LNG project.


    “The key for us is to drill wells and confirm
    our gas. We know its there: we just need to
    ensure we have it in the quantities we want to
    produce.”
    The company aims to drill a well around
    April 2006, following up with a step-out well
    some six or eight months later, depending on
    rig availability.

    “It’s a very fluid situation at the moment
    because of the oil price and everyone has
    gone mad drilling holes … so it’s hard to get
    a rig.
    “Woodside hasn’t helped things because
    they’ve swallowed up big chunks of the rig
    availability for the next 12-18 months.”

    full article
    http://www.methanol.com.au/!upload_files/attachment/Oil&Gas_September2005.pdf

    Have held this for some time and watched every trade
    now feel times are changing for this one ,I feel charts support this . imho.
 
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