MAY 6.06% 3.5¢ melbana energy limited

kornik13,My understanding about U2 was confusion around pressure...

  1. 3,565 Posts.
    lightbulb Created with Sketch. 1852
    kornik13,

    My understanding about U2 was confusion around pressure gradients, fault zones and rapidly changing strata within Alameda-1. The result at Alemada-2 points out that unit 2 is much smaller and wasn't intersected in this well and that structure is far more structurally complex then originally interpreted.

    The diagram points out that some of the original Amistad unit 3 was in fact Alameda structure which was high pressure. This explains the original response to the lack of flow in unit 3 and it could have been explained better by the team. They obviously picked it up when they hit Vega Alta and crossed reference to the original well determining the new reservoir parameters.

    The end result has been great with a medium/heavy crude that flows to surface across the largest Amistad unit. The company seems happy with the results knowing a material increase in resources is due.
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
3.5¢
Change
0.002(6.06%)
Mkt cap ! $117.9M
Open High Low Value Volume
3.3¢ 3.6¢ 3.3¢ $577.5K 16.92M

Buyers (Bids)

No. Vol. Price($)
5 1018559 3.4¢
 

Sellers (Offers)

Price($) Vol. No.
3.5¢ 1521853 6
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.