Ann: Vali-1 ST1 Update, page-11

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hombre cara

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16/07/20

13:43

Post #: 45909778
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Originally posted by OldGeo: ↑

Agreed Cara. Timing of the Cap. Raise, ahead of flow rate results, seems contrary to MEL's upbeat assessment that Vali-1 will be commercial, so why not wait till Vali-1 delivers the goods and leverage the raise at a higher SP (makes me somewhat suspicious about how well Vali-1 will flow).

Especially when in all likelihood, SM58 delivers further positive news flow in the coming weeks on flowline hook-up, arrival of the drilling rig for completion of G1 and again, in all likelihood, delivering commercial flow rates since the wireline logs over the Upper O Sand show excellent reservoir properties and hence flow potential leading to more MEL SP upside ahead of a Cap. Raise......this is all a bit convoluted but I'm a tad frustrated with this Cap. Raise timing.

Kind regards OldGeo.

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I didnt see it coming now and had deliberately kept some funds aside for it...but got drawn in yesterday seeing those odd 1 mill orders...
Hopefully its only very small and a stop gap for a couple of months till BYEs appreciate.......they could also be being squeezed by the Placee...and doing it a bit early to justify to other shareholders a discounted price compared to post flow rates SP...?

MEL Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
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