MAY 3.57% 2.7¢ melbana energy limited

Ann: Alameda 2 Drilling Update, page-259

  1. 126 Posts.
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    I was scratching my head as well at the market reaction - we had too much oil pressure and had to plug the hole last year - so now we have a heavier mud weight and are drilling to TD prior running flow tests to avoid hole deterioration which is standard protocol. They even mentioned strong oil shows which as per the ASX rules is as emotive as they can qualitatively mention it - perhaps if he worded it as “WE HAVE EXTRENELY I CREDIBLY HIGH OILLLLL BOYZZZZ” then people would have perceived it better? - I think the market will wake up next week and it’ll hit 12c+ mid week
    Last edited by Chet89: 15/07/23
 
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