MAY 0.00% 2.0¢ melbana energy limited

Ann: Block 9 Alameda 3 Appraisal Update (Alameda reservoir), page-172

  1. 343 Posts.
    lightbulb Created with Sketch. 171
    @kit Enough with the deep breath stuff. Lets call it how it is...a complete failure on Melbanas part after two years of hype. The rig will be moved sherritt are desperate for it back. An acid fix isnt 100% otherwise they would come out and say it is and Sonongol would no doubt pay for it all with how much is on the line. MAY burned a ton of cash doing this and now are almost broke. We are at least half a year away from "reentering" this well imo.

    Lets get on with production of 1b. Going off comparisons from other oil producers and their market cap vs bopd its not looking good for MAYs price in the next 6 months though. I would not be surprised to see it hit high 2s. I hope not as i have a substantial amount of shares still im just being realistic. You can say goodbye to alameda and marti for a few months minimum.
    Last edited by ohmikeyoh: 27/06/24
 
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