MAY

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2.2¢ melbana energy limited

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matyd

4,146 Posts.

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19/09/18

15:18

Post #: 35701490
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Originally posted by Spitfire ↑

Firstly.
Regards the CR, I totally did not expect this, won’t say to much but I do not think it’s as negative as perceived by some on here.
I do not see this as a large raise.
I also would not assume the spit the dummy out reaction and sell my entire holding on market open on Friday in anticipation of getting in lower will happen this time ....there are many near term triggers here now, each one could be a significant event for the company.

This post is to briefly touch on the AU side of the portfolio.
Firstly Tassie shoals.....this seems to be stirring up again and some industry lip service is mooting serious potential and merit in this....hopefully the company can announce some painfully long overdue positive news on the problem child .
Secondly Beehive...has anyone noticed the very acute divergence between best and high prospective resource ?
The industry norm is a X 2- 2.5 ratio between mean and high , what has been pointed out to me by a geo colleague is we have A plus X 4 ratio quoted on Beehive prospective resources which has been third party independently assessed .
This is a very large divergence ratio for a prospect and the chances of positive 3D data which is being assessed closing this ratio is quite high apparently.
Take from that what you will, if the 3D proves up this prospect as I think most of us hope, ...can we expect an increased mean resource to move further towards the high or a decreased high to decrease towards the mean ? ( for some who perhaps do not want success here)
This is a very large structure and I guess we will know in a month or so, I certainly expect the seismic interpretation results to be open and announced in Q4. I do t think we will see a firm Ann on the drill commitment before Xmas, but the 3D results will tell its own story on that .

I have no agenda here, I hold, I am deciding the merits of being a part of the CR , I will not be selling stock on Friday in anticipation of buying back lower.

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Thoughts mate on May letting NZ go for 100k? Few of us received no answers from email enquiries, did you receive any info? Cheers

MAY Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
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Last 2.2¢		Change -0.001(4.35%)		Mkt cap ! $74.14M

Open	High	Low	Value	Volume
2.4¢	2.4¢	2.1¢	$444.7K	19.98M

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No.	Vol.	Price($)
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Au portfolio, page-2

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