MAY melbana energy limited

8.33%

2.6¢

Ann: 2023 Annual Report to Shareholders, page-59

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27/09/23

17:52

Post #: 70058657
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Originally posted by Flambeau: ↑

Yes, 100%

Previously we were told:

43:28, Andrew Purcell: “There’s no interruption to drill A3 next. Well’s take a while to permit up. Casing has to be bought months in advance. Drill programs have to be agreed with the regulator and drill contractors, so A3s happening next…”
https://www.youtube.com/watch?v=ZWsdnBJTxOM&ab_channel=**promotion blocked** **promotion blocked** Webinar Series: Melbana Energy (ASX:MAY) Investor Briefing (August 28, 2023)

It is a bit puzzling, there are quite a few possible explanations like 1) maybe they did get their hands on an artificial lift, 2) maybe they thought Alameda-3 would take too long (they might have wanted a catalyst before the 16/11/2023 AGM [for some unknown reason wink wink], 3) etc etc etc...

The point is, it is was not the plan, and even after Alameda-2 finished, and when they were presenting all their information Andrew Purcell still said "There’s no interruption to drill A3 next." He said A3 is what excites the shareholders as a response to why the share price is still low... and yet here we are.

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Lucky there is an AGM coming up so you can ask these exact questions face to face of the board, hey?

MAY Price at posting: 6.8¢ Sentiment: None Disclosure: Held
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