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

(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

Hailfax, good point about the shares admitted today arising from the warrant exercise. nicely profitable for some!

That was a hasty release. Did XTR know it was coming out or did someone sleep in today? Warrants? How many exist? I thought they were all taken up!
I'm getting slightly concerned about XTR's behavur.

It's lucky for them that some parts round here are on the case!
I thk the MEO RNS was posted on bb's before open in UK, elsewhere today!

Upon(-etc.), the warrants are accounted for in the notes to the interim results. No conspiracy there.

and another slight nudge up : XTR Bid: 7.5p Offer: 8p Change: 0.375.

OK st.
Merely a concern having known about MEO for some considerable time and being in COIL/XTR for much longer that it has taken 't now to get some action. Their, XTR/COIL, corporate behaviour has been questionable in the past. Perhaps with the focus now on their major play in MEO now they will clean up, and smarten up, their act?

I certainly hope so. Agree that COIL was a disappointment - had a small investment in them a couple of years back which didn't do much. So my current holding is a bit of a punt, largely based on the MEO scenario. Lomg-term I like the idea of the oil-shale, so who knows, it may do us proud.

I'm with you soul traders. Interesting short-term prospects re MEO and longer-term potential with oil-shale. I'm new to the company as you'll see when I started this thread last week so am unaware of past management behaviour but it's been an exciting, if very short, introduction so far!

Q1, would you mind posting a price chart to the header? Then we'll all be able to see how exciting it's been. :o)

MEO's SP off 3% today on profit-taking. hardly surprising after yesterday.

Never done that before soul traders. How would I go about doing it?

PS - sorry for ignorance and daft question!

Errrm, use the "charts" button on the top of the moneyam webpage (it can be helpful if you open a new window to do this). Enter the ticker symbol and details of the chart you want to design. When you've finished, click the link "Paste chart to bulletin board" which is at the bottom of the chart.

you'll get a new webpage on which will be a URL. this will be about two or three lines of text o the screen. Copy and paste this, including the little arrows that bracket it at either end, into the box on this thread along with any text you may wish to type in.

"Post Message" and you should see your chart in all its glory.

In order to edit the header, you'll need to click on the little pencil-and-paper icon next to the thread's title.

good luck!

Crikey - did it! Thanks soul traders :-)

542,500 spent on over 7 million shares at 1.30pm this afternoon. A huge buy so where's the SP up-tick?

It was a broker to broker transaction