Australia's largest stock trading and investment forum Australia's #1 stock forum

MAY

Click for more information

5.56%

3.8¢ melbana energy limited

Ann: Alameda-2 - Successful Flow Test of Lighter Oil to Surface, page-624

First 624 Last

Share
Profile

Follow
1956

3,557 Posts.

421

31/08/23

19:12

Post #: 69672840
Share

Originally posted by afawcett: ↑

Teji,

I think the seismic interpretations for Marti at this point of time should be taken with a grain of salt. from my understanding there was atleast 750m of oil shows (finished in oil) at Marti-5 which have been moving up to surface. The result of Alameda-1 should be interpreted as a resounding success at this level. The signs of formation water were a shock and is open to much debate and seems to stem from some issue with the drill or fracture communication with a water table. Just remember that this is the first sign of water over all formations so far which is crazy in itself.

My question I asked to management about expectations with the cores and fractures points to a more controlled drill this time to better quantify what is in place. Whilst they won't drill as deep this time we should get a big upgrade in net reservoir with fractures. Hopefully new seismic can help the company better map the resource particularly with in the lower sheet.

I'm super confident at this point in time. AP will bring this into alignment with the seismic and drilling whilst getting into some serious production.

best of luck holders

Expand

and on that point a specific manufactured and engineered drill head and BOP just for this drill. they know what they are doing.

MAY Price at posting: 7.5¢ Sentiment: None Disclosure: Held
7 Upvote

0 Great analysis

Reply

Top Stories

FFM

Firefly positioned for copper growth in Canada ahead of resource update

CC9

Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

There are more pages in this discussion • 133 more messages in this thread...

First 624 Last

Add MAY (ASX) to my watchlist

(20min delay)
Last 3.8¢		Change 0.002(5.56%)		Mkt cap ! $128.0M

Open	High	Low	Value	Volume
3.6¢	3.8¢	3.5¢	$229.8K	6.529M

Buyers (Bids)

No.	Vol.	Price($)
3	289110	3.5¢

Sellers (Offers)

Price($)	Vol.	No.
3.8¢	380674	3

View Market Depth

No.	Vol.	Price($)
3	289110	0.035
11	873487	0.034
6	1467200	0.033
3	706250	0.032
7	899800	0.031

Price($)	Vol.	No.
0.038	380674	3
0.039	691438	5
0.040	954244	6
0.041	417175	3
0.042	500000	1

Last trade - 16.10pm 03/10/2024 (20 minute delay)

MAY (ASX) Chart