MAY 0.00% 2.6¢ melbana energy limited

Ann: Preparations underway for start of Zapato-1 exploration well, page-183

  1. 9,679 Posts.
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    I guess this pretty well sums up the overall dummy spit we witnessed today. Not singling you out Greed, just highlighting a point, that those with very little understanding of how the O&G sector works are having an absolute tantrum atm. MAY is very very far from being “done”. It was always a long term prospect, nothing happens quickly, there’s always delays, breakdowns, curveballs in the oil patch, it’s part and parcel. MAY overshot to the upside due to greed from uneducated punters and today’s selloff is no different. “Watergate” was the perfect example of the general nature of investor we’re dealing with here. Today was a transfer of wealth from the weak to the strong. I was happy with my holding while we sat above 12c, now we’re back in the “wallet open” zone and I will be adding whatever I can.
 
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