MAY 4.17% 2.3¢ melbana energy limited

Alamada 7th in high impact discoveries 2022, page-6

  1. 2,211 Posts.
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    All the other oil discoveries bigger than MAY on that chart are offshore.
    Being offshore costs are huge whilst being onshore it is a fraction of that cost. Not only that production costs are also a lot lower for onshore production.
    We can get our onshore oil in production in a matter of months but offshore it takes years. Look at CVN they have a discovery similar to ours in size, it was discovered years ago and will take another few more years to develop if its viable, at current costs its border line, not only that they have spent hundreds of millions drilling it. Onshore is far more valuable than an offshore discovery, even more in our case where Cuba has low production costs and oil refineries/infrastructure is around the corner.
 
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