MAY melbana energy limited

4.35%

2.2¢

Ann: Block 9 Alameda 2 Appraisal Update, page-57

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Flambeau

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15/08/23

09:40

Post #: 69339327
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Originally posted by In Da Hood: ↑

Hey flamer,

Doesn't it not say we have more net pay than original well which was already a massive field size. So how many billion barrels is the Amistad going to contain lol.

I told everyone we are basically sitting on another Varadero with this upper sheet so we'll be moving up to what 35,000 barrels a day. I guess it's about economics now how long does it take to break even on a 750 barrel per day well (keep in mind these are very shallow wells). We've probably got enough capital to drill 5 -10 wells so 4000-7500 barrels per day. What conservative $20/ usd per barrel profit that's still $80k usd profit a day if not more low end. I can't see these wells being more than $2-3m per well. So every 30-40 days we pay off a well and drill another one worse case scenario there's enough oil here for decades you do the maths it's $$$. I'd say profits are going to be more like $40/usd per day btw so it's Uber conservative and still sounds profitable to me.

Sorry some people are just silly lol.

And my god they didn't remove the mud they've got the analysis back to say it will flow at this much from
one 3 whilst keeping the mud weight up to do zone 2 and 1B in sequence. To my mind this is massive news and should put the doubters to bed yes it's a heavy Cuban crude so what it's money and lots of it.

Marti and Alameda zones might be a different oil, lighter from the pressure, temp and depth but this is a great day proven solid well performance for the shallow wells means money.

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If you can't get it out of the ground then that means nothing. Also, one of the reasons for requiring flow rates is to verify the reservoir size (a more accurate determination of resource).

MAY Price at posting: 10.5¢ Sentiment: None Disclosure: Held
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