Xtract Energy - looking for oil in shale. Feasible and cost effective? Anyone in these at present?

Well I,ve been in it since the days of Silver Mines Media. Whats worse is that I'm still 3p per share down, but theres light at the end of the tunnel.

Wasabi (WAS) XTR 18%, Rum Jungle moving closer to floatation....

http://www.asx.com.au/asxpdf/20070601/pdf/312rctmcpkv94v.pdf

Rodders

Moving up nicely tks for the tip!

Found some cash down the back of the sofa and decided to have a go at this.

In at 7.49p. Good luck to all.

smart move I reckon....

nice chart...and nice volume earlier in the month to kick start a move...
Large volume going through today as the price moves up..

Right: XTR Bid: 6.75p Offer: 7.75p Change: 0.5, 2.3 mil traded.

Bid was up to 7p, but got kicked back down again on a flurry of sales.

FWIW the mkt cap has pushed through 50 mil (currently 51 mil), so could provoke some institutional buying.

A nice climb throughout the day, closing at Bid: 7p Offer: 7.75p Change: 0.625 on 6.6 mil traded, including a couple of half-mil buys towards day's end. Augurs well for more of the same next week, but WDIK.

Surely we ought to see this one back above 10p shortly?

PDYOR anyway.
ST

.

Welcome on board soul traders. Great week for XTR, let's hope for more of the same next week!

See ASX MEO announce farmin with Petrofac.

Thanks halifax.

And I thought that the object of the exercise of floating more shares in COIL, XTR, MEO and CMB was to keep the potential profits of Tassie Shoal in house.

Queen1, thanks :o)

(Expletive deleted!) Errr . . . fiddlesticks! just spent the last ten minutes preparing a fantastic piece of insight, clicked on the wrong icon and deleted the lot!

Anyway, the gist was that XTR's stake in MEO is worth 45 mil. The current mkt cap of XTR is 56 mil.

Has anyone else run any figures for a sum-of-the-parts analysis? Surely XTR's other interests are worth more than 11 mil?

You can find a lot of them on the COIL thread.

Until XTR/CBM, for they are one and same in my book, come up with trading update and reveal what plans are we cannot have total faith in anything they do currently. I suspect we old CO shareholders got the mucky end of the stick on the merger and may well again if CBM true to form.
Huge potential for the long term here but I suspect XTR may begin to look for funds to advance other projects.
Still I suspect more MEO news will have a bouyant effect.
I just wish John Byrne would stop mucking about with my plans!

MEO update from XTR....

http://www.advfn.com/p.php?pid=nmona&cb=1180961327&article=20894836&symbol=L%5EXTR

Rodders

MEO S/P up 23% today XTR S/P up only slightly maybe because 15million new shares listed today as aresult of options exercised and perhaps susequent selling? Petrofacs involvement with MEO must add a great deal to MEO'S credibility.

Here's the full text of XTR's RNS:

Xtract Energy plc - MEO Update

RNS Number:7240X
Xtract Energy plc
04 June 2007


Xtract Energy plc

MEO announcement

4 June 2007

Set out below is the text of an announcement released today by MEO Australia
Limited, which is quoted on ASX. Xtract Energy plc owns approximately 28 per
cent of MEO Australia's issued share capital (before the share placement
referred to in the announcement).

'FARMIN BY PETROFAC RESOURCES AND PLACEMENT

Key points

*Petrofac Resources farms into NT/P68 for a 10% interest by funding 25% of
well costs

*Placement to institutional investors completed raising A$41.25 million

*Share Purchase Plan for shareholders as at Record Date June 13, 2007

MELBOURNE, AUSTRALIA (June 4, 2007) - MEO Australia Limited (ASX: MEO) is
pleased to announce that Petrofac Resources Limited has farmed into the
Company's Exploration Permit, NT/P68. Petrofac will meet 25% of the well costs
associated with the 2007 appraisal drilling program to earn a 10% interest and
has an option to increase this farm-in interest to 15% by funding 37.5% of the
well costs.

MEO decided late in 2006 to offer up to 30% of NT/P68 for farm-in by strategic
partners that offered strong operational and relevant technical expertise.
Additionally the farminee would need to demonstrate alignment to MEO's
objectives to ensure the rapid commercialization of hydrocarbons confirmed by
the 2007 drilling program and the approved gas-to-liquid (GTL) projects.

Petrofac has also been granted an option to participate in the proposed Tassi
Shoal LNG and methanol projects at the same equity participation level as the
farm-in. Petrofac's participating interest in the methanol project would reduce
Air Product's 50% interest (MEO will retain its current 50% interest).
Petrofac's participating interest in the LNG project would reduce MEO's current
100% interest. Petrofac would earn its interests in the GTL projects by
contributing to the initial front end engineering and design (FEED) costs and
paying a NPI royalty to MEO from the Petrofac share of the project's eventual
operating profits.

Petrofac brings strong engineering, procurement, construction and operational
expertise to the NT/P68 joint venture through their EPC and facility management
divisions. Petrofac also provides an experienced sub-surface team with specific
skills in hydrocarbon production from fractured carbonates similar to the
Epenarra reservoir, and will second key personnel into the MEO team to help
manage the 2007 drilling program. Following the completion of the 2007 drilling
campaign, Petrofac will assume the role of permit operator to manage the
subsequent full appraisal of any resources confirmed in the permit and would
operate the eventual upstream hydrocarbon production facilities.

MEO continues to field strong interest from highly credentialed industry players
eager to join Petrofac and participate in MEO's projects. MEO expects to resolve
the farm-out for the balance of the 30% interest over the coming weeks. However,
MEO believed it prudent to raise sufficient funds ahead of finalising other
farm-in arrangements to ensure that it can meet its financial obligations for
the 2007 drilling program on a dry-hole cost basis.

The Company is pleased to advise that during the trading halt, a placement of
41.25 million shares at A$1.00 per share was made to Australian and European
professional and sophisticated investors. The placement was jointly managed by
the Company's Australian broker, Tolhurst Limited, and London broker, WH
Ireland. The offer was heavily over-subscribed.

The Company has also decided to initiate a Share Purchase Plan (SPP). Australian
and New Zealand Shareholders on MEO's register at the Record date of June 13,
2007 can apply for up to 5000 shares at A$1.00 per share; the same terms as the
placement just completed. No brokerage fees will apply to the SPP shares. Each
shareholder will shortly be sent an application form and a copy of the Company's
Half Year Report. The offer will open on June 15, 2007 and applications and
payment must be received by 5pm (EST) on July 6, 2007.

The Company is now in a strong financial position and looks forward to working
with Petrofac to achieve a successful outcome in the drilling campaign later in
the year.

CR Hart
Managing Director
June 4, 2007