MAY 6.06% 3.1¢ melbana energy limited

Alameda-3, page-371

  1. 10,189 Posts.
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    Summary for you:

    1. oil doesn’t flow in top 3 layers because it has heavy oil also known as shit oil that no one wants
    2. Pinocchio was pumping this with trucks waiting to fill up 1000 barrels a day but stated that “we know horizontal wells are the only way to flow the oil in top layers” but even though they knew they drillled a vertical well and wasted capital which they now need to raise again
    3. Marti has 22-24 api oil also known as heavy oil. Which is highly likely not to flow
    4. They need to wait another 6-12 months for these horizontal wells to be done so they are now back to square one

    That’s the summary of the drill program as of now
 
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