MAY

3.57%

2.7¢ melbana energy limited

Ann: Appraisal Program for Block 9, Cuba, page-319

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justinmetals

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03/12/22

07:19

Post #: 65130289
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Originally posted by Vince120 ↑

I know that other company's horror story quite well (I was trading them), directors were resigning (or being dismissed?) whilst their share price fell like a stone... now suspended.

Now the ABC story was an eye opener because I wasn't aware of this story,
I was aware of MEL shareholders coming onto MAY threads to rubbish him and the company back when he'd made his takeover bid for MEL.
They were vehemently opposed to it.

...disappointments huh?
I initially bought this early 2019 expecting the Cuban drilling activity to happen with their Chinese JV partner at the time - but that fell through.
Then there was the expectation that TOTAL SA and Santos would go ahead and drill Beehive - but that fell through.
Covid hit and we were sub 1c AND the oil price went negative (I bought some more).
Quite frankly it looked quite bleak to be honest.

AP, I thought, pulled a rabbit out of his hat to get Sonangol as a partner to fund the 2 wells in Cuba,
I actually thought he did actually very well in getting a new partner for Cuba in the end, and here I am having ridden the stock up from sub 1c.
You could say I have a different perspective on AP, and I'm not going to complain - give credit where it's due.

He's definitely got his bitter detractors... as shown in that News story replayed here, and it's a warning to be aware with eyes wide open.

A story of ambition and what someone might do to achieve it (dirty laundry it would seem being replayed here on HC),
a story of revenge (making a takeover bid for MEL)
- with the success at Alameda, I wouldn't be surprised he does everything he can, to rub their noses in it - and yes make a future bid on
the companies of the bitter past.

Of course, if his detractors are correct,
then I should tame my enthusiasm and let the moving averages to the talking.

Expand

That’s what I reckon too. AP’s alright…. For a banker. At least he’s an engineer and has a sensible view on almost everything I’ve heard him say ..even if he does mince his words in announcements too often

Last edited by justinmetals: 03/12/22

MAY Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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Last 2.7¢		Change -0.001(3.57%)		Mkt cap ! $90.99M

Open	High	Low	Value	Volume
2.9¢	2.9¢	2.7¢	$87.74K	3.087M

Buyers (Bids)

No.	Vol.	Price($)
5	848777	2.7¢

Sellers (Offers)

Price($)	Vol.	No.
2.9¢	284679	3

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No.	Vol.	Price($)
5	848777	0.027
3	98379	0.026
8	3469000	0.025
7	2024166	0.024
8	1123578	0.023

Price($)	Vol.	No.
0.029	284679	3
0.030	1005727	5
0.031	3034526	3
0.032	1727605	7
0.033	1466600	4

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Ann: Appraisal Program for Block 9, Cuba, page-319

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Ann: Appraisal Program for Block 9, Cuba, page-319

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