The well the subject of the ann.
Gas is still flowing though and horizontal drills could get it to commercial rates.
The PEL 16 area was always a better prospect and they are to drill that soon.
The pattern hasn't broken down yet and my stops haven't been hit so I'm staying put, just.
The sp has not reacted positively at all. Not a positive sign.
The secret of eternal youth is arrested development.
The well the subject of the ann.
Gas is still flowing though and horizontal drills could get it to commercial rates.
The PEL 16 area was always a better prospect and they are to drill that soon.
The pattern hasn't broken down yet and my stops haven't been hit so I'm staying put, just.
The sp has not reacted positively at all. Not a positive sign.
Im with ya now
If it closes up today which is very likely that would make yesterdays close a nice bounce off and confirming the trend line.
I would be staying put for now too if I was holding.
Same applies to OBV
They moved that rig pretty quick. Riflebird started today ...
That gives us the analysis from Wyan and the results from Riflebird as 2 anns that have the potential to drive the breakout in the next 2 weeks.
I note that HC had a reference to what I presume is a Sunday Aussie paper carrying a story yesterday about MEL being undervalued in comparison to other CSG plays.
Early trading seems to like it.
The secret of eternal youth is arrested development.
A few monkeys got shaken out of the tree on Wednesday. Me included. Sp went right down to my stop and then went straight back up.
A little bit upsetting but as I sit and watch I don't think I'd've had the discipline to sell even though my mental stops have been hit. I'm too confident that the fundamentals are sound - although the coming ann should firm up the position one way or the other.
With the recent sell off one has to wonder whether the Riflebird drill result/flow rate (even though only for a short time) was not as expected. Either that or the people who exercised the options early June were told to sell because the results were spectacular and they couldn't afford to be seen to be trading on inside information. The latter should perhaps be in a Tui ad, "Yeah, right".
The secret of eternal youth is arrested development.
Haven't looked too much into MEL, but noticed this from a couple of reports 1year apart. No increase in 12 months?
Still looks very cheap at these prices.
Anybody have any thoughts on the recent price weakness and why the stock hasn't followed the other CSG plays on the rebound?
Last edited by The Big Ease; 06-08-2009 at 05:46 AM.
TBE I wouldnt hold too much with that guy.... surprised he is still around.
His fund was heavily leveraged i thought he had imploded.
That guy was single handly responsible for some of the massive decline in aussie oil and gas stocks such as STO, MEL, MPO AOE
when he got the squeeeeeze last october he had to dump.... notice thats why the oil and gas stocks alll bottomed in oct/nov not march
Matthews was out.
In fact i personally profited massively when i found out he was dumping MPO and was nearly complete got them at at steal of around 40c from memory. flipped a few weeks later for 80c or something.
“If you're worried about falling off the bike, you’d never get on.”
Originally Posted by dartMonkey
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