MAY
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5.56% 3.8¢ melbana energy limited

Ann: Quarterly Activities Summary - Period Ended 31 March 2023, page-6

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  1. rivermore
    6,784 Posts.
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    21/04/23
    09:59
    Post #: 67390150
    Very shallow initial target, it will be very pertinent what the actual porosity and oil recoveries look like due to the much slimmer well bore.

    I'm hopeful that the potential recovery figure will be multiples of the present very conservative figure.

    If I'm right, don't be surprised if the drill plan is modified to focus on oil delivery from the shallow levels.

    With a extended 'testing' phase, MAY transitioning to a oil producer in very short order should help out with the share price I expect.

    DYOR.
    MAY Price at posting: 6.0¢ Sentiment: None Disclosure: Held
    Likes Created with Sketch. 51  Upvote
    lightbulb Created with Sketch.  Great analysis
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