MAY 4.35% 2.2¢ melbana energy limited

General discussion, page-19

  1. 341 Posts.
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    Its hard to ignore the significance of the below extract from the last ann.
    I'm not sure if calculating this correctly and would like an O&G to comment/assist and provide some more insight please. From my understanding the estimate of 88 million barrels could be ~6 times higher = 440 million barrels. This is for the upper sheet only and based on 5% recovery rates, which maybe a conservative figure within its self.

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