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5.26% 3.6¢ melbana energy limited

Ann: Alameda-1 Drilling Update, page-485

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  1. The Mechanic
    2,289 Posts.
    lightbulb Created with Sketch. 1018
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    21/04/22
    13:21
    Post #: 60951512
    What I found interesting was what it said about the Santa Cruz prospect which MAY has also an interest in outside the current joint-venture agreement, it was discovered in 2004 and initial estimates were for 100 million barrels of recoverable oil from the Santa Cruz oil field. In its first year it produced 1 million barrels. By 2013 the total production was 7.4 million barrels from 18 wells. This could be redeveloped once the cash flow from Block 9 is established and could be another good cash earner for MAY
    Last edited by The Mechanic: 21/04/22
    MAY Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 19  Upvote
    lightbulb Created with Sketch. 3  Great analysis
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