MAY melbana energy limited

8.33%

2.6¢

Ann: Block 9, Cuba Commencement of drilling of Alameda 2, page-98

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thecone

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22/06/23

13:27

Post #: 68418334
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Originally posted by Feral54 ↑

An impartial assessment of Al 1 demonstrates multiple failures culminating in the PA of a well intended to produce. Then Zapato was a fiasco from conception as a follow up well. One could interpret this as bad luck and the exigencies of O&G wells. A cynic could say it’s due to bad decisions and poor well control.
Now there is the same Mx and drill team back at the same location for round 2 to achieve the same objectives. So there is a dichotomy amongst SH, one that thinks there is a pot of gold at the end of every rainbow complete with white rabbits in top hats and the cynics who are saying “prove it” which includes the insto’s.
At the moment the cynics are ascendant. I expect this to continue, thus my slow burn hypothesis. IMO each re rate will be on the basis of hard evidence which won’t come quickly. For those who won’t like my opinion, check out the nom de plume.

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It was intended to explore... Hence the phrase.
'it's time to stop exploring and start appraising'
And why one well tested so many/ as many horizons as possible.
Yes they tried and failed production.. That does not make it a production well.
Doesn't mean I love management here either.
Cheers tc

MAY Price at posting: 9.0¢ Sentiment: Buy Disclosure: Held
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Ann: Block 9, Cuba Commencement of drilling of Alameda 2, page-98

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Ann: Block 9, Cuba Commencement of drilling of Alameda 2, page-98

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