MAY
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13.6% 2.5¢ melbana energy limited

Ann: Alameda 2 First Production Results, page-52

  1. Flambeau
    6,484 Posts.
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    05/07/23
    10:09
    Post #: 68626480
    I guess the market isn't reacting as I thought it would to this news.

    The two most bearish pieces of information are:

    Heavy crude oil: Heavy crude oils have API gravity of under 22.3 source: https://www.petro-online.com/news/fuel-for-thought/13/breaking-news/what-is-api-gravity/33309 Which means it is worth less then higher API.

    https://hotcopper.com.au/data/attachments/5402/5402215-06d116148fcfd6c3dccd4f11f4e14b9f.jpg
    source: extract from, 05/07/2023 9:18 am Alameda 2 First Production Results https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02683339-3A621181?access_token=83ff96335c2d45a094df02a206a39ff4

    If it doesn't have a "measurable rate" in my opinion it fails the flow test.
    Last edited by Flambeau: 05/07/23
    MAY Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 5  Upvote
    lightbulb Created with Sketch.  Great analysis
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