MAY 3.13% 3.3¢ melbana energy limited

Ann: Alameda-1 Drilling Update, page-40

  1. 3,081 Posts.
    lightbulb Created with Sketch. 5867
    @Kangaroos67
    yep, agree. If theres enough there, the economics of getting it out improve dramatically. 40+ M of combined pay for the U1? I'll take it as success any day.

    It needs to be stressed here that we now have four zones of interest:
    1. shallow limestones, with light oil;
    2. U1 with medium oil (Amistad, oil in today's picture);
    3. N Structure with heavy oil;
    4. Alameda with heavy oil.
    So far we have intersected oil in 2 out of 4. Light oil in limestones (1) was a surprise. If there is a trapping structure here, then it will be a game changer on its own.
    Last edited by alexei ii: 26/10/21
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.