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

Hi queen1, forget the oil shale, thats well down the line, its their stake in MEO 28%, which will drive this share higher in the next few months. DYOR

Rodders

Here is the link for MEO, XTR aquired their stake at an average price of 23 cents!!!!! and since then the price has not risen to reflect the huge rise, but one day it will....

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=&asxCode=meo

Rodders

Thanks Rodders. Are you in XTR then at present?

And are you saying that the oil shale is not a possibility?

I came by way of COIL, XTR is my largest investment, though I have reduced into strength over the last few months, as I was over exposed.

Oil Shale, at least 2 years down the line, but is a strong possibility.

Has exposure to Uranium, through its stake in Wasabi (WAS).

But MEO is due to put the drill bit into the seafloor in the Timor Sea in September this year, where a previous drill in the 70's, nearly had the rig blown of its rivits by the gas pressure, unfortunately stranded gas was virtually worthless then.!!!!

Also has interests in the Kyrgyz Republic.

and a 33% stake in Elko Energy, which holds concessions in the Danish north Sea.

Rodders

A lot going on then and you're confidant I guess with such a predominant holding. Let's hope we see a northwards sp push in the run-up to September and beyond.

MEO suspended, pending an announcement....

http://www.asx.com.au/asxpdf/20070530/pdf/312q156hpm5vml.pdf

Interesting, could be a placing or a farmin or both????? Though one cannot rule out a full blown T/O. DYOR

Rodders

Is that why we've seen another small drop in XTR's sp this morning?

Price unchanged from last night, though weak in the market today, this is probably due to the issue of more shares as a result of 1p warrants being exercised. The MEO suspension will be taken as +ve.

Rodders

My data had a 6p close and the sp is now at 5.88p?

After a large broker buy, mms now bidding for shares, expect a tick up later.

Rodders

That would be nice having just dipped my toes.

You were right Rodders, a small tick up before the closing bell. Would be nice to see more tomorrow.

MEO suspension - farmin partner likely reason, a Japanese or Korean candidate is rumoured.

Rodders

Hi rodders, see you didn't start thread after all, but now there is one, great. For any new holders that are not aware of the full potential of this share, it would be a good idea to read through the COIL threads for a good historical background. Good luck to all holders.

Hi oilyrag - One very valuable assett that MEO holds right now and hasn't yet been mentioned here or fully appreciated by the market is their ''landing rights'' for their oil and gas and of course 3rd party production as well. It is unprecedented that a tiddler like MEO could have achieved this, but they have and with no further landing permits likely to be passed in the area over the next 10 years.....you get my drift.

Rodders

Thanks oilyrag. I'm looking forward to a long and profitable ride.

Tick up on the bid.

Rodders

MEO due for re-listing on 4th June after announcement I'm in too.

Good day today. Another tick up tomorrow will be a nice way to end my first week as an XTR shareholder.