CUE-> Pantheon of small oil stocks

[Crypto Crude]

nzoiler-CUE looking stunning... your bulldance and chanting is working Shrewd.
This baby is going for a nice run over the next couple of weeks and there will be good money made by holders.
A good Maari update will a nice sweetener...
Regards all

hahaha...
hootering and hollaring mate.......
well, the spike is to do with Zeus, and if that goes bad then guess where the SP is going.... realistically the spike should have been long underway
as Maari production is about to start ramping up, and continuing until August...
So oil prices dont need to be really set until full production at that time....
profitable here at prices sub $30US... but cautious at $25 US...
and crisis around $15 US.... costs sunk so money is better than no money..

If Zeus goes bad, then its straight back down...
BUT, id expect the share price to go down by much less than its recent lows, so a great investment to take on the downside (still from here)....
Id guess now that lows on failure at Zeus would be 13 cents, as id expect more upside from here on the SP as Zeus spuds, and gets to depth which would offset some of a fallout....
This should top out around 20c on Zeus lead up, or more depending on Maari, and how the market reacts to that...

Expect much sp action as Zeus heats up, and Maari production gets underway...
will be good opportunities for traders even now...
even after the hootering and hollaring....
we wont know the real outcome until final drilling results...
im holding all the way...
later...

.^sc

[CAM]

Taranaki oil rig workers locked out
http://www.stuff.co.nz/4814918a11.html

[Ketel One]

MEO price query and response: http://www.asx.com.au/asxpdf/2009011...qmqvp0rrz1.pdf Relevant bits below.


PRICE QUERY
We have noted a change in the price of the Company’s securities from $0.185 at the close of trade on Thursday 8 January 2009 to a high of $0.30 at the time of writing today. We have also noted an increase in volume in the same period.


Response from MEO:

RE: PRICE QUERY
The Company notes the rise in the share price during the week and offers the following possible explanation for this increase:

(a) In respect of the upcoming drilling of the Zeus-1 exploration well in WA-361-P, MEO announced on 8th January 2009 that it was expecting to receive handover of the Songa Venus semi-submersible rig on the evening of the 8th January in preparation for an approximate 7-day tow to the Zeus-1 well location. The Zeus-1 well is expected to spud on or about 17th January 2009.

In the same release, the company advised that the Zeus-1 well is estimated to have the potential to contain in the order of 15Tcf gas-in-place in the primary objective and a further 3.7Tcf gas-in-place in the shallower secondary objective. With 35% equity in the well, a successful outcome at Zeus-1 would clearly result in a substantial uplift in the value of MEO securities.

(b) MEO confirms that the handover of the Songa Venus rig was completed on 8th January 2009 and is currently under tow to the Zeus-1 well location.

[Financially dependant]

With so much going on I am surprised how slow the SP has been?? Not sure if the strike action at Taranaki is having a negative influence??

For the ann today by OSH I thought would be good news for CUE, another major player in the PNG LNG market. The price Nippon Oil paid for AGL and OSH assets would reflect well on CUE assets, any comments??

Cheers FD

[macduffy]

With so much going on I am surprised how slow the SP has been?? Not sure if the strike action at Taranaki is having a negative influence??

For the ann today by OSH I thought would be good news for CUE, another major player in the PNG LNG market. The price Nippon Oil paid for AGL and OSH assets would reflect well on CUE assets, any comments??

Cheers FD

Yes, but the overall negative tone, both in Australia and world-wide, overwhelms any good news at present. eg BHP down 5%, RIO down about 8% today.

[Crypto Crude]

fd,
patience my friend...
the share price has come up from 10c this year...
40% in 2 weeks...
buffet can stuffit... eah...hehehe...
20% per year is for kiddies over the medium term...

well,
at CUE, the more certain wells are coming later on this year...
and will arrive in time periods recieved more favourably...
in all respect, we dont want Zeus spudding just yet...
we want it spudding when the market takes this big target seriously...

hootering and hollaring about a lock out of staff dont bother me...
it all works itself through...
As we all know, workers can be replaced...
its not like workers are indespensible....
king pins are at the top side by side....
we stand as per usual....

mega million dollar assets and mega small market cap...
NZO stupid having stab at PPP and not CUE...

.^sc

[Crypto Crude]

fd,
I will soon reply about CUE's PNG assets in full detail...

.^sc

[Financially dependant]

I guess my perspective is clouded by MEO spectacular raise on news of the rig being towed to site! It was looking like CUE was tracking that rise for a day or two....

Patient I will have to be.... locked and loaded ready for news....

I look forward to your excellent research SC (as usual) on LNG in PNG

[Crypto Crude]

hey FD,
I would not look closely at MEO for any indication on anything...
Some broker outfit comes out with a looney valuation on the company, then an insto buys a heap of stock on market in a short period of time with the only motive to drive the SP up quickly... pump a dump....

they then sell their positions on the way down and make a profit... this can be done easily as it does not take a heap of money to pump the heads, and on the way down larger holdings are easier to sell, as investors chase a falling stock.....

this is exactly how I called it...
volumes dry up, then pumping and dumping comes back...
and now we have it all over again...
The SP is driven by manipulation...
sure its a big target...
MEO has Zeus only...

CUE has Zeus and everything else...

.^sc

[Dusty]

ASX AND MEDIA RELEASE

Zeus-1 update

Key Points
Songa Venus arrives at the Zeus-1 location today and is running anchors,

MELBORNE, AUSTRALIA (January 16th, 2009) -- MEO Australia Limited (ASX: MEO) is pleased to advise that the Songa Venus semi-submersible drilling rig arrived at the Zeus-1 location at 10:00am Perth time today and at 10:25am began running the first of eight anchors.

All equipment and materials required for Zeus-1 spud (commencement of drilling) are on board and expectations are for the rig to commence drilling over the weekend.

Zeus-1 is a complex structural/stratigraphic play estimated to contain 15 Tcf gas-in-place in the Legendre Sandstones (primary target), and 3.7 Tcf potential gas-in-place in the overlying Forrestier Sandstones (secondary target).

Resource Development International Limited (RDI) is paying 80% of the well costs to a cap of US$31.25m to earn a 35% interest in WA-361-P. In the event Zeus-1 discovers hydrocarbons, RDI will pay for MEO’s share of two additional wells in the permit.

MEO plans to release weekly drilling updates every Wednesday.