MAY

3.57%

2.7¢ melbana energy limited

Ann: Alameda 2 First Production Results, page-125

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Roch2077

10,189 Posts.

1986

05/07/23

13:26

Post #: 68632691
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Originally posted by Kit67: ↑

Sorting the hay from the chaff today @thecone

There are quite a few out there who are very long this stock (most likely at awkward levels, hence the emotion), and who would say anything to defend their position for fear of the stock price going down. When anyone tries to counter their argument, they turn a bit nasty. HC is a funny place like that. I turn the other cheek and try to ignore that stuff. It's just noise.

Nothing in today's announcement is actually remarkable. Absolutely nothing. It aligns with previous data and announcements made by the company, both recently and when they first drilled this field. It also aligns with published information about the field itself. As some have correctly noted, the pressure is in line with expectations, and the outcome of the first zone not surprising. AP has even reiterated that this upper zone outcome will most likely not alter their estimates (for that layer), and that the real target is those lower two zones. Again, this is in line with what the company has said previously. So, unless you are really, really picky - there is almost nothing that was said today that we didn't already know. And my only point is that the SP spike today (albeit, on good volume) is a bit "FOMO-ish" - and is the kind of thing that traders sell into (what we used to call "B waves", where the B stood for "bull***"). So I exercise caution where there is no immediate change in fundamentals. It's as simple as that. So if someone wants to get all funny and throw stones at me about it, then good for them. Not fussed.

Kit.

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Lol Kit67 you said it there it de risked and is matching up with managements model. It flows under pressure. And more layers to come shortly it’s rerating Kit

Last edited by Roch2077: 05/07/23

MAY Price at posting: 9.4¢ Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

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Last 2.7¢		Change -0.001(3.57%)		Mkt cap ! $90.99M

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Ann: Alameda 2 First Production Results, page-125

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Ann: Alameda 2 First Production Results, page-125

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Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

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