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

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

Well done, Queen1 - very nice :o)

Meaning what halifax?

Thanks soul traders!

Easy answer is dont know but as we know Cambrian Mining has a majority shareholding in XTR perhaps they are increasing their stake, not sure why they are not obliged to make an offer for XTR as they control over 50% of the shares. Where is XTR domiciled?

Thanks halifax.

Ever since I put the chart in the sp has fallen. Perhaps I should take it out!

The price has fallen because the last placing ammounts to a dilution, also the joint venture with Petrofac reduces the potential profits for XTR. The price will drift a bit and only rise on news or if the market feels that its gone too low. Hard to say how low it may go, but at the moment I can only see a downward trend. IMO. DYOR.

We have had no update on ex-COIL's or XTR's assetts for months now, so PI's can only base their investment decisions on one tangible stake MEO. With directors of MEO taking the opportunity to take some profit on their shares, I am surprised in one way that the MEO share price has not fallen that much, however considering what they have, very valuable landing rights and a high impact drill near term, I cannot see it falling very far. DYOR

Rodders

Cheers both. Watch & wait then.

What with MEO's PX going up up up and away we are surely going to follow suit!!!! The rig is now in place in Darwin......let the drilling commence and let the pounds roll in!!!!!!!!! Fill your boots!!!!

More revenue due in for XTR if they launch an IPO for Elko..see RNS today.
I think we'll see it happen in about three months, maybe early New Year.

Things do seem to be coming together nicely at the moment - and let's hope those aren't famous last words!

Xtract Energy is pleased to note the announcement by investee company MEO Australia Limited ('MEO') advising that the Heron-2 well was spudded on Friday 12 October 2007 in Exploration Permit NT/P68. Xtract is the largest shareholder in MEO holding approximately 21.3% of the issued capital.

The permit is owned by MEO (90%) and Petrofac Energy Developments Oceania Ltd. (10%). MEO operates the permit.

The planned total depth of the Heron-2 well is 4,300 metres below the seafloor. Depending on the results of Heron-2, the permit partners plan to drill Heron-3, which is designed as a horizontal well through a zone anticipated to be highly fractured in the Darwin Formation, to test well deliverability.

Xtract Energy said MEO Australia Ltd, in which the company holds 21.3 pct, has secured a 60 pct participating interest in three exploration permits on the Northwest Shelf, offshore Australia. The permits offer scope for many prospective oil and gas leads, and MEO said the acquisition offers the opportunity to significantly broaden the scope of its current upstream interests.

MEO has farmed into the permits operated by Cue Energy Resources Ltd through its North West Shelf Exploration Pty Ltd unit.

Xtract said MEO has become operator for each permit and will meet the modest seismic acquisition obligations. In any of these permits, if MEO decides to fund 100 pct of the cost of a single well, a 70 pct interest will have been earned. The MEO interest in that permit would remain at 60 pct, if the existing permit holders elect to pay 10 pct of the cost of a single well in any permit.

Drilling is likely to occur in 2009 in permits where MEO decides to fund the cost of a well, Xtract said. MEO is currently drilling the Heron-2 well in exploration permit NT/P68 in the Timor Sea.

Serius buying today. News may be forthcoming at EGM.

On the move again today good volume drilling results due before Christmas.