MAY melbana energy limited

8.33%

2.6¢

Ann: Block 9 Alameda 2 Appraisal Update, page-535

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Brightoil

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16/08/23

11:16

Post #: 69366654
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Originally posted by VOGC: ↑

Hi All,

For those interested, just Posting my review of yesterday's ASX 15/8/23 announcement.

IMO, with respect to the DST, an expected result with an estimated flow rate of 750 bopd and would expect this to increase with use of an Electrical Submersible Pump (ESP).

IMO, a confusing statement by AP that needs clarifying was "could be produced in the future" (see Slide 3 - point 10) - as I had been expecting an immediate extended production test to follow the DST testing of all Amistad zones. Possibility that AP (or who wrote the Release) was thinking along the lines of a full field development - and thus would need a Certified / Approved development project that will take some time but not preclude production through running extended production tests for appraisal wells being drilled.

Points in Slide 1 refer to the points in Slides 2 & 3. Slides 4 & 5 are back-ups that are referenced to.

GLTAH
Cheers
VOGC

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Vogc in lay mans term is that a good or bad announcement. The market of day traders didn't like it.
Has this improved or made worse the value? The no flow to surface is what I dont understand but seems nef
Gatice. The increased net pay a positive so a34% slump is not justified. You are a respected poster so please let us know your opinion.

Last edited by Brightoil: 16/08/23

MAY Price at posting: 6.9¢ Sentiment: Hold Disclosure: Held
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