MAY 3.13% 3.3¢ melbana energy limited

Ann: Block 9 Alameda 3 Appraisal Update (Alameda reservoir), page-217

  1. 1,826 Posts.
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    Well that was a fun ride.

    Bought in pre-pandemic pre-drill averaging 3 cents, all the way up then down to where I bought it today, upon a failure of the lower sheets to flow.

    Only thing is MAY now have an oilfield to show for it (Unit 1B) and the SP is as if it hasn't budged in 4 years....


    Might top up to buy myself a free oilfield when/if it hits 2's..... with bonus deeper sheet upside if/when the experts can work out a remediation plan
 
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