LME Looking good

[hidad]

Those of you who took up there rights in the SPP in LME seem to have done the right thing as the share price is going up nicely. This company looks like its going places as they have a few drills coming up very soon.

[seagull]

Those of you who took up there rights in the SPP in LME seem to have done the right thing as the share price is going up nicely. This company looks like its going places as they have a few drills coming up very soon.

Yes looks to be on a steady uptrend. When the updated reserve report appears soon this could well be re-rated.A quiet achiever. Cheers

[hidad]

Yes looks to be on a steady uptrend. When the updated reserve report appears soon this could well be re-rated.A quiet achiever. Cheers

seagull i think this will double in price in no time once drilling starts and good results come in.

[hidad]

LME with some very good results out today.

[macduffy]

The recent announcement of resource and environmental approvals for the Ohai coal seam gas pilot project doesn't seem to have attracted any interest. CSG isn't exactly flavour of the month at present but perhaps more attention will be paid to LME when drilling for the project starts early in the new year.

On my watchlist.

[seagull]

Another good announcement today. Alton taranaki due to be drilled before May 50% with Mosaic oil. For CSG if folk can take an 18 month time frame SP should be

way ahead. Good sales should be occurring in 2012. If we strike commercial oil next year it's YEEHAAA. Cheers

[hidad]

The time is now to get in because even leading up to the drill date the sp price should be in an up trend and if or when they find gas you wont see these prices anymore.

[hidad]

Come on people if you have made loses on other stocks its now time to take the gamble and get some good returns on LME .

[hidad]

Thursday, 16 December 2010


L&M ENERGY SUCCESSFUL IN JOINT BID FOR ONSHORE TARANAKI PERMIT
Highlights
- L&M Energy and Mosaic Oil NZ Limited awarded PEP53247 (Kahili) onshore Taranaki permit
- Historical oil and gas production within permit confirms hydrocarbon presence
- Infrastructure in place for early production upon successful drilling

L&M Energy (LME) today announced that it is continuing to grow its portfolio of exploration opportunities with near term cashflow potential through the award of the Kahili permit (PEP53247), onshore Taranaki, New Zealand, after a contestable blocks offer.

This latest award will result in the Company having interests in three permits in Taranaki, New Zealand’s only commercially proven producing basin.

The participants in the permit are L&M Energy Limited (25%), and Australian based Mosaic Oil NZ Limited (75%). Mosaic Oil NZ Limited is a wholly owned subsidiary of AGL Energy Limited.

The Kahili field was discovered in 2002 and the previous permit holder achieved commercial gas and condensate flows. In anticipation of that production, an on-site processing facility and pipeline connecting to the gas network were constructed by Natural Gas Corporation (now Vector Ltd). The Kahili-1B well produced 0.18 BCF of gas and 5.53 mbbls of condensate prior to watering out unexpectedly in 2004.

Both the production facility and the pipeline remain under a care and maintenance program by Vector Ltd pending further work within the permit. With these facilities available any future discoveries can be rapidly commercialised.



Following the award of the permit the joint venture will commence the acquisition of 30km of new seismic and reprocess a minimum of 160km of seismic in order to identify a suitable drilling target.

ENDS

Good luck to all wise holders.

[hidad]

18th January, 2011

OHAI COAL SEAM GAS PILOT PROJECT PROGRESS

L&M Energy Limited (LME) is pleased to announce that drilling has resumed at the Ohai pilot project after being suspended during the Christmas and New Year period. The programme is to drill and then install 9-5/8” surface casing to a depth of approximately 80m within both lateral access wells.

Once casing is installed the rig will then be relocated to complete vertical production well, OM#5, where surface casing was installed prior to the holiday break.

OM#5 will then be drilled to a total depth of ~750m intersecting the thick target coal seam, Morley #2.

The two horizontal lateral wells will then be extended to intersect OM#5 using proven directional drilling methods. Each of the lateral wells will pass through approximately 700m of coal with the gas they produce to be extracted from OM#5.

The pilot project follows on from the company’s 3P reserves upgrade to 274 PJ and forms a key part of the Company’s 2P gas reserves campaign which is aimed at independently certifying New Zealand’s first tranche of 2P CSG reserves.

ENDS