MAY 4.00% 2.6¢ melbana energy limited

Ann: Zapato-1st Drilling Update and Option Expiry Reminder, page-149

  1. 2,651 Posts.
    lightbulb Created with Sketch. 4725
    Basically brother we have hit more oil than the US Gov gave the whole Northern Fold Belt in their estimations so far and are on the cusp of hitting 4 from 4.... Unheard of.. And that is a crucial point with Cuba... No one outside of Cuba really knows, they all guessing... Not MAY..

    The last ann... contained key info..
    https://hotcopper.com.au/data/attachments/4652/4652239-9454545bab2dd47d3cf22d315a46bbef.jpg
    Which just added to the one before it...

    Drilling ahead continued in the past week in hard rock. At about 2,300 m MD the bit was retrieved and
    a decision made to case the more than 1,000 metres of open hole. Several logging runs were then
    successfully conducted and drilling operations are now preparing the hole for the running then
    cementing of 9-5/8” casing. It is expected that drilling ahead in 8-1/2” should commence this weekend.

    Figure 1 - Melbana's Chief Geoscientist, Errol Johnstone, presenting at last week's meetings with
    Sonangol in Melbourne


    Initially I thought he was pointing out how the creatcious period folds formed the carbonate reservoirs.. But that in itself is all rather obvious..

    https://hotcopper.com.au/data/attachments/4652/4652241-3b23a0e9cc9749fdc72d4b7cbd52bd69.jpg

    Note the 4 realms and the position of Cuba and the Northern Fold Belt in relation to the period, source rocks, kerogens, depths and the big one pressures...

    https://hotcopper.com.au/data/attachments/4652/4652244-ecab8d34076fb077b1bbec4e0197866a.jpg
    Migratory pathways etc etc

    https://hotcopper.com.au/data/attachments/4652/4652260-61132bf67591565b275dbbb85d106307.jpg
    Basically we are smack bang in the money zone people... Type 2 Kerogen with a high %TOC in Fractured Carbonate Lithology..

    https://hotcopper.com.au/data/attachments/4652/4652263-befe91530d98f8722458c77c9ff78706.jpg
    Which begins (onset) around 2200 metres and runs to maybe 3400... MAY was at a reported 2298 having run logs and set casing etc.. Pretty much doing everything you'd do before popping the seal boys.. !

    She's all about Pressure/Depth from here on in... As AP said this is Big Boy Drilling now son... hehe
    https://hotcopper.com.au/data/attachments/4652/4652266-e248e4095ab7164c5d8c0f3076753642.jpg

    So with all that in mind, what I think Uncle Errol was explaining, considering we have done multiple log runs, Set casing and the BOP, is that he was explaining to all the Sonongal attendees how the next phase of drilling was to proceed and why? .. I doubt it was a lesson on how oil is formed, it seems plain as day IMO it is there and in fact has been there since 1600M... Which when you minus the 300M they backed the drill out is roughly the full length of the 1000M casing just set...

    So nope, I believe he was explaining the process of having drilled through the serpentine they would now encounter the pore pressure zone, which in itself puts up plenty of scenarios to be wary of due to muchas pressure senor y mas grande aceite... Si es muy grande ;-)
    https://hotcopper.com.au/data/attachments/4652/4652273-026c3342255fb2ee1de53cd7306085f4.jpg
    https://hotcopper.com.au/data/attachments/4652/4652322-503b02cd8a9b4de152460a7e2e09ac2f.jpg

    1.
    Log-based prediction of pore pressure and its relationship to compressional velocity, shear velocity and Poisson’s ratio in gas reservoirs; Case study from selected gas wells in Iran
    2.
    https://hotcopper.com.au/data/attachments/4652/4652325-5e91c2095c0fce10db1d69005f83bdd5.jpg

    https://hotcopper.com.au/data/attachments/4652/4652287-dbaf232a0f4e6c422a6b6dbed166bd75.jpg

    https://hotcopper.com.au/data/attachments/4652/4652296-1e6856566ab6ef22fa0ebf19675e7ab3.jpg
    Basically brother, if they don't hit moveable oil at pressure then they are acting incredibly wary for a potential duster, don't people think? hehe

    Best paying odds for a near odds on favorite I've seen in my time.. 8teys in on top, why the hell not.. GLTAH & FFSDYOR
    Last edited by Hateful8: 05/09/22
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
2.6¢
Change
0.001(4.00%)
Mkt cap ! $87.62M
Open High Low Value Volume
2.6¢ 2.8¢ 2.6¢ $208.3K 7.823M

Buyers (Bids)

No. Vol. Price($)
3 645011 2.6¢
 

Sellers (Offers)

Price($) Vol. No.
2.7¢ 1907832 5
View Market Depth
Last trade - 16.10pm 16/07/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.