Medoil Share Discussion Threads

[duplicate book] 23/4/2007 22:39

mustau........MM's will walk this back down on any selling, but will take it higher if there is any buying pressure. Difficult to say really. There has been a bit of selling since Thursday, and we have drifted a little after our steady, almost daily rise prior to the AGM. Depends on how many of those buys before were traders who will need to take up, roll over, or close their positions over the coming days? Personally, I will be adding if they take it back under 20p again :o))

[mustau] 23/4/2007 15:36

Can we expect further drips or is this the bottom?

[greatfull dead] 22/4/2007 13:15

labatie, thanks for that, interesting.

[labatie] 22/4/2007 12:56

I attended the AGM as well - v interesting. I felt that MDL was in the frustrating position of being allowed/obliged to tell us the negative, ie licences being delayed thro' elections/extended bureaucratic flimflam, and being constrained to silence in what they would be v happy to broadcast, viz Louza. I noticed on Arden's original note about MDL that they had had several approaches re Louza when they acquired the licence, so I imagine that with a clearer and upgraded picture on the block there will be no shortage of potential farmers-in. Merlin are assessing the seismic for a result the co expects at the end of May.
What do I feel after the meeting? Disappointed, obviously, that MDL couldn't bring us properly up to date on Louza - a typical reflection on today's Gilbertian investment world, where to ensure that everybody has access to the same info, nobody gets any! - but happily nearer the edge of seat than I was. I think the price will have easily kissed 20p goodbye by end/07.

[duplicate book] 20/4/2007 21:38

CWA1......thanks for posting that. Made interesting reading.

[cwa1] 20/4/2007 17:24

AGM report here:-

[mustau] 20/4/2007 16:25

Crosbie,
whose Ivanhoe? sorry for the ignorance.

[crosbie2] 20/4/2007 11:40

Ivanhoe now has foothold in Iraq

Louza (E)

[dodman2] 20/4/2007 10:22

Don't worry Greatful - good things come to those who wait. She's a swan for sure. What are your most loved shares then?

[greatfull dead] 19/4/2007 19:06

If she goes back to where I expexted to, say 18p, I will add. Not the most loved share. It may just suffer from the ugly duckling syndrome . I hope it does.

[smudgeroo] 19/4/2007 18:06

Agreed GD. I too thought the AGM statement was very positive. These things take time but those people willing to be patient will see very handsome rewards I believe. For now I shall pop the certificate back into the bottom drawer and will look to add to my holding further should the share price drop below 20p.

[dodman2] 19/4/2007 18:02

I think you're right Greatful Dead. The market was expecting much more. I wasn't. I too am going to keep adding if they drop below 20 again, which imo they will until something solid appears on the radar.

My friend did go to the AGM - a small short affair apparently, only 20 people in the room - not much more to add than the press releases. I'll post his comments later.

[greatfull dead] 19/4/2007 16:32

Maybe the market was expecting news of a farmout. Still the news today was good if not very good.

[mustau] 19/4/2007 16:28

Did not expect 10% retrace, may add if they drop further.

[dodman2] 19/4/2007 09:06

Not sure if he can go or not. Will update when I know.

Good news, but slow progress nevertheless on many fronts as I predicted. She's not going to fly quite yet imo.

[cat100] 19/4/2007 08:10

The Company continues to look at new opportunities whilst focusing on
progressing its strategy for the Louza prospects, which is key to the Group's
future success.


You wouldn't say that unless you were sure that it was good.

[greatfull dead] 19/4/2007 07:56

dodman2, Is your friend going to attend the AGM now you know the venue and time?

[greatfull dead] 19/4/2007 07:54

YEP very good news. Gives more strenght to negeociate far better terms for a farm out for offshore Tunsia.

[duplicate book] 19/4/2007 07:53

"In the meantime we are actively seeking potential farm in partners to participate in a drilling programme planned to commence in 2008....." You wouldn't be doing that if you weren't sure it was worth doing now would you? Very upbeat statement, and after the 'fine tuning', results due within the next two to three weeks. Not sure what the market will make of it, but we shall soon see!!!

[deanmatlazin] 19/4/2007 07:38

Good news,

M Sela east - more than 100mmbo recoverable reserves

Other surrounding structures - upgraded and finalising

M Sela 1 - oil in place not significantly affected. I think it will be more than 100mmbo as well.

Superb!!!

[greatfull dead] 19/4/2007 07:22

MedOil PLC
19 April 2007

19 APRIL 2007

medOil plc

('medOil' or 'the Company')

AGM Statement - Update on Tunisian 3D Seismic Survey and other exploration
opportunities

At the AGM of the Company, which is to be held at 12.30 pm today, the Chairman,
John Lander, will update shareholders as follows:

Louza, Tunisia

A 600 sq km 3D seismic survey covering the southern part of our Louza
prospecting permit, offshore Tunisia, was acquired between August and October
2006. Processing of this large dataset is complete, and we are already at an
advanced stage of interpretation. Initial findings have been very encouraging,
and these are being used to provide focus and 'fine tuning' for a final phase of
processing which should be completed by the end of April 2007.

The initial 3D interpretation appears to confirm the overall structural
configuration of the M'sela oil discovery, and it is anticipated that
Oil-In-Place estimates for the accumulation will not be significantly affected.
We intend, however, to use the final high-resolution 3D data volume to help
elucidate the regional fracture patterns in the area, and by combining this with
further evaluation of the M'sela-1 well data we hope to gain a better
understanding of how this unusual reservoir might respond to production. This
data will be critical in the design of any potential appraisal well.

Exploration prospects in the vicinity of M'sela have, however, already been
significantly upgraded by the new seismic data. In particular, imaging of the
M'sela West prospect has been improved and the feature now appears to be
significantly larger than previously thought; potential recoverable reserves
could be more than double the 50 MM bbl estimated by Merlin Energy Resources
('Merlin') on the basis of previous 2D data, making this a highly attractive
exploration target. The nearby M'aila East and Ourata prospects also show
increased potential as a result of the new data with prospectivity identified in
more than one reservoir.

The Company has engaged Merlin to review the results of our interpretation of
the new 3D seismic data and to provide an updated analysis of its hydrocarbon
prospectivity. We plan to report on this to Shareholders when completed -
possibly at the time of the Company's interim results in mid 2007. In the
meantime we are actively seeking potential farm-in partners to participate in a
drilling programme planned to commence in 2008, subject to jack-up rig
availability.

Other Exploration opportunities

Our application for two permits offshore Sicily (adjacent to the Vega oil field)
received technical approval from the Ministry of Industry in December 2006, and
the final award will be subject to acceptance of our environmental reports which
were submitted to the Italian Government on 4 April 2007. We have commenced
gathering technical data on these permits.

The existing 2D seismic data sets over the Joni 5 permit have been received from
the Albanian authorities and the data quality is generally good to excellent.
The data is now with Merlin for a detailed interpretation. An initial overview
of the data has confirmed the existence of a number of potentially exciting
geological play types as reported in our 2006 Report and Accounts. Final
ratification of the Joni 5 permit is awaiting resolution of the precise
co-ordinates of the maritime boundary with Greece.

The Company continues to look at new opportunities whilst focusing on
progressing its strategy for the Louza prospects, which is key to the Group's
future success.

---ENDS---

[dodman2] 19/4/2007 01:58

Superb - thnx

[labatie] 18/4/2007 19:50

The AGM's at Premier Travel Inn, London County Hall, Belvedere Rd, SE1 @ 12.30. County Hall is at the South side of Westminster Bridge.

[greatfull dead] 18/4/2007 19:08

You know I am dammed if I can find that info. Strange just the date mentioned in the final results RNS back in Feb 07. I had no notification as my shares are in a nominee account. Try a phone call am tonight/tomorrow am to
020 7921 0001.

[dodman2] 18/4/2007 18:14

Exactly when and where is the AGM anyone? I think I've got a friend who's holding a few who might be able to go along.