MAY (ASX) Ann: Update on Appraisal Well Drilling Program Timetable

Originally posted by Flambeau: ↑

No it isn't, AP wrote the following: "The contractor has therefore estimated a five-week delay to the start of Melbana's two-well appraisal program..." source: 23/03/2023, ASX:MAY, Appraisal Well Drilling Program Timetable https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02647052-3A615389?access_token=83ff96335c2d45a094df02a206a39ff4Are you trying to pretend it has not rained recently at the Sherritt #1 rig drill site? The second photo is not "5mins later" that is just something you made up, I made no comment about the second photo.From the same source that Andrew Purcell was "liking" on Linkedin a few months ago that @Fontaine82 first posted about. The source is a contractor for PAR Energy Services Inc who are assisting in running the casing for Sherritt. Funny... but I hope you hold the company to account and to the same standard of criticism, because the company itself said the following:
"The rig is being demobilised and, upon completion of necessary maintenance and recertifications, will be sent back to Alameda drill pad to commence appraisal of the significant volumes of moveable hydrocarbons encountered by the Alameda-1 well." source: 27 Oct 2022, ASX:MAY, MELBANA ENERGY LIMITED, Total depth reached at Zapato-1ST https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02589131-3A605694?access_token=83ff96335c2d45a094df02a206a39ff4

"Melbana Energy Limited (ASX:MAY) (Melbana) is pleased to report that an initial two well appraisal program in Block 9 PSC (Melbana 30%) is to be drilled starting in Q1 2023." source: 15 Nov 2022, MELBANA ENERGY LIMITED, Appraisal Program for Block 9, Cuba https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02598221-3A607151?access_token=83ff96335c2d45a094df02a206a39ff4

"It's going to be in the new year before we start, and how far into the new year just depends on this maintenance program, but we're gearing up to get going in January, I think maybe it's going to be optimistic to think we could start operating that quickly it's probably going to be towards the end of February..." source: 15^th of November, 2022, "**promotion blocked**", ASX:MAY,
https://www.youtube.com/watch?v=ydrJ5J5hf9c

"First Appraisal Well: Alameda-2 Drilling to commence Q1 2023". source: 22 Nov 2022, ASX:MAY, 2022 AGM Presentation https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02601304-3A607725?access_token=83ff96335c2d45a094df02a206a39ff4

"Sherritt Rig #1 is now back at Sherritt’s yards in Varadero undergoing routine maintenance and recertification, where necessary, following the completion of a 15 month drilling program. These works are expected to be completed early in the new year, following which the rig will be mobilised back to the Alameda pad." source: 9 Dec 2022, ASX:MAY, Countdown to appraisal of oil found in Block 9 https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02610511-3A609231?access_token=83ff96335c2d45a094df02a206a39ff4

On the 24^th of January 2023, the ASX announcement titled "First Appraisal Well Update" stated the following: "Mobilisation notices will be given to contractors in early March..." source: 24 Jan 2023, ASX:MAY, First Appraisal Well Update https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02623558-3A611346?access_token=83ff96335c2d45a094df02a206a39ff4

"Rig to begin mobilising to site in 3^rd week of March following its projected completion of a nearby well for a third party." and "the rig is expected to be released from its current project in the third week of March, following which it will commence mobilisation to the Alameda pad near the township of Marti for the drilling of Alameda-2." source: 16 Feb 2023, ASX:MAY, Cuba, Block 9 PSC Update on Alameda 2 appraisal well https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02632149-3A612745?access_token=83ff96335c2d45a094df02a206a39ff4

In hindsight, how true was any of this?............

How so? Are you trying to suggest the Sherritt #1 rig is packed up and heading to Alameda-2 right now because they gave the timetable of "5 weeks" and therefore must be right? Or do you think they have already run the casing? I would love to hear what your criticism is. Are you trying to suggest the photo is therefore of the rig in the same location? Are you trying to suggest the rig is not indeed still drilling at Puerto Escondido, La Habana, Cuba?
---------------

Well... let's see who is more reliable, me or the company lol... as far as I am concerned, they already failed their "5 weeks" which was first stated on 23/03/2023.

Expand

Well the S P has gone up over 33% in the last week....lol
Now you don't get set after the drill starts turning, or you will pay more....lol
The oil is there,FACTS so now just getting it out the ground....imo
You are trying to trade this stock....imo

No.	Vol.	Price($)
1	909090	2.2¢

No.

Vol.

Price($)

909090

2.2¢

Price($)	Vol.	No.
2.3¢	931186	2

Price($)

Vol.

No.

2.3¢

931186

No.	Vol.	Price($)
1	909090	0.022
8	4431458	0.021
13	2525998	0.020
5	500737	0.019
3	63000	0.018

No.

Vol.

Price($)

909090

0.022

4431458

0.021

2525998

0.020

500737

0.019

63000

0.018

Price($)	Vol.	No.
0.023	931186	2
0.024	3843514	11
0.025	1733416	9
0.026	205263	5
0.027	181540	2

Price($)

Vol.

No.

0.023

931186

0.024

3843514

0.025

1733416

0.026

205263

0.027

181540

(20min delay)
Last 2.3¢		Change 0.002(9.52%)		Mkt cap ! $77.51M

Open	High	Low	Value	Volume
2.2¢	2.3¢	2.1¢	$62.26K	2.871M

Ann: Update on Appraisal Well Drilling Program Timetable, page-508

Paradigm Biopharmaceuticals makes key acquisition moving into FY26

'Not possible' to port renewable gas: ACCC takes AGN to court

Orthocell sees 4% jump as Remplir used in first US surgery. But is that low?

ASX Market Close: Index creeps lower as half-year mark approaches | June 26

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

ASX Market Open: IPO hype, Wall Street ATHs push Aussies into green hope | June 27

Australia’s gas crisis is here – and dying coal plants aren’t helping

Boss extends June win streak with boosted Alta Mesa extraction rates

Sunrise pops on top scandium hits NSW explorer will now use for 'multi-decade' plan

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Update on Appraisal Well Drilling Program Timetable, page-508

Top Stories

Paradigm Biopharmaceuticals makes key acquisition moving into FY26

'Not possible' to port renewable gas: ACCC takes AGN to court

Orthocell sees 4% jump as Remplir used in first US surgery. But is that low?

ASX Market Close: Index creeps lower as half-year mark approaches | June 26

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

ASX Market Open: IPO hype, Wall Street ATHs push Aussies into green hope | June 27

Australia’s gas crisis is here – and dying coal plants aren’t helping

Boss extends June win streak with boosted Alta Mesa extraction rates

Sunrise pops on top scandium hits NSW explorer will now use for 'multi-decade' plan

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News