Ann: Notification regarding unquoted securities - MAY, page-173

We could have a rough stab at it, based on a few inputs;

VOGC's estimate of assumed vertical richness factor of 0.729 mmboe per meter of net pay. This is his assumption that Alameda-1 encountered 48 meters of net pay in the upper sheet, and assumes McDaniels arrived at their prospective resource estimates of 35 mmboe mean based on that 48 meters, and excludes extra net pay based on a lower porosity cut-off of 9%. I am assuming his vertical richness factor is net to MAY's figures. His post is here; https://hotcopper.com.au/posts/66166661/single

Alameda-2's net pay results. Of note, Unit 1A was originally given 3.1 meters of net pay in the original estimates. It now has 125 meters of net pay of moveable oil recoverable at surface. Total net pay over Units 1A & 1B increase to 538 meters incorporating fractures, and does not include unit 3. So Unit 1B, including fractures, could be 413 meters of net pay. The relevant ASX update on Alameda-2 net pay excluding Unit 3 is here; https://www.melbana.com/site/cpfile/f038dbbb-8a0c-4526-82b3-c9317345c500/Block-9-Alameda-2-Increase-in-Net-Pay.pdf

Applying VOGC's vertical richness factor, at an assumed recovery of 5%, we get;

Unit 1A - 91.125 million barrels of 11 API oil, net to MAY, with Artificial lift
Unit 1B - 301.077 million barrels of 19 API, low viscosity and low sulfur oil, net to MAY