Melbana Energy shares oil wells with other companies. In Cuba, Melbana Energy owns a 30% stake in a two-well exploration drilling program in partnership with Angola’s National Oil Company Sonangol. The program is said to test more than 235 million barrels of prospective resource1. Unfortunately, I couldn’t find any information on which companies Melbana Energy shares oil wells with.Learn more:1. themarketherald.com.au2. nsenergybusiness.com3. themarketherald.com.au4. melbana.com5. melbana.com+3 moreLikeDislikeCopyExportWhat is the history of Melbana Energy?How does oil drilling work?What are some other companies that drill for oil in Cuba?Let’s chatSee moreMelbana Energy's (ASX:MAY) Alameda-1 intersects 670 metres of oil showshttps://themarketherald.com.au/melbana-energys-asxmay-alameda-1-intersects-670-metres-of-oil-shows-2021-10-05/Melbana Energy (MAY) shares are up today following an update on the progress of the Alameda-1 exploration well being drilling in Block 9 PSC, onshore Cuba. The company has a 30 per cent interest in Block 9 and is the operator of the current drilling program.
NastyG, I must be the odd one out then, I was of the understanding that MAY hold a thirty percent interest in these two areas. Also we are under contract as part of this agreement to drill certain wells in order, that we have already achieved to an acceptable level, level not meaning depth!
Maybe I should use a map, and highlight areas that we control 100 of, and those that are 30 percent. Plus is it one well only, at 30 percent, too many questions that I admit I am not sure of. I will purchase a map of the area next week...
MAY Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
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