MAY 6.06% 3.5¢ melbana energy limited

Ann: Alameda-3 Drilling Update, page-310

  1. 3,603 Posts.
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    So why drill a 3 km hole in the first place.?
    Brightoil asked how far down am I and how do I cope. Over $1.5m is the answer and I lay the blame squarely on AP.
    To be a success a company needs 2 things. A good asset and good management. MAY has a great asset but atrocious Mx. AP’s tenure is characterised by incomprehensible decisions and needless delays. The damage done is largely irrecoverable IMO.
    Most posters feel there will be a major upsurge to the SP on flow test results. I doubt it short of 20k bopd, which won’t happen. TBC to avoid loss of data.
 
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