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3.0¢ melbana energy limited

Ann: Webinar for Block 9 Update, page-114

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Sharetrader78

13,366 Posts.

1940

11/07/24

19:51

Post #: 74715068
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Originally posted by Flambeau: ↑

It would be more useful to look at comparisons:

RE: the farmout
I also agree that a farmout is a disaster... I personally think that is worse than a capital raise, because Melbana will lose percent ownership of block9 and potentially all future profits for short term working capital... I would have preferred a consolidation and capital raise. In fact, if I was a shareholder, I would have told them not to do it, and consolidate and capital raise and keep the 30% ownership of Block9.

Your calculation also assumes Melbana still has 30% interest.. however we just learnt today that they are willing to give some of this away in a farmout...

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why does the Farmee need to be over the whole BLOCK-9 ? maybe it will be for only the A1 or B2 or Alameda discovery .. thats how it sounded to me very much focus on upper sheet OIL deal

MAY Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
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Last 3.0¢		Change -0.001(3.23%)		Mkt cap ! $101.1M

Open	High	Low	Value	Volume
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No.	Vol.	Price($)
1	86990	3.0¢

Sellers (Offers)

Price($)	Vol.	No.
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No.	Vol.	Price($)
1	86990	0.030
6	1272317	0.029
7	2932858	0.028
6	711000	0.027
3	488499	0.026

Price($)	Vol.	No.
0.031	181225	2
0.032	1208730	9
0.033	499037	6
0.034	1025000	2
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