MAY 3.13% 3.3¢ melbana energy limited

Ann: Alameda-1 Drilling Update, page-507

  1. 6,783 Posts.
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    As interesting as the graphic of prospects is, Alameda has shown that there is a extensive 3 dimensional overlay of prospects (known and unknown) over the block as well. Zapato is a huge target as shown but is also likely to display the strata layers of resource as well. Keep in mind that there is no modern seismic over the targets. From exploration, development and investment perspectives though, I view the block as one gargantuan and near continuous oil field of varying pressures, depths and viscosities. The oil in place count is likely to be in the tens of billions of barrels and even with low Cuban typical recovery factors (which are bit contentious in their own right) the recoverable oil is likely to put it into the super major field category which is very rare and sought over these days. I think Cubans and Hot Copperites are going to be discussing Block 9 for many years to come.

    13c per share???

    DYOR.
 
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