Hi Spitfire: Just a thought on your potential resource upgrade for Beehive pending the outcome of modern 3D.
Also Hi Jakspara: re comment about MAY's flagship asset.
Firstly, may I say that although MAY 's concentration on Block 9 makes it the flagship, in my view WA 488-P (Beehive) is, and always has been the true jewel in the crown for MAY. Why?
Prospective recoverable resources for Block 9 's U1,N and Alameda plays are set at Best 131mmstb with Mean 185mmstb, (as stated in the March2018 quarterly) with Best395mmstb and Mean 576mmstb for the whole of Block 9. Whereas, in the Carboniferous alone at Beehive the figures are Best 558mmstb and Mean 940mmstb. In previous announcements , some time ago, then MEO, included the Ordovician zone . That zone added prospective resources of Best 305 mmstb with Mean 534mmstb. So a lot more than Block 9. Of course MAY will now have only 20% interest in Beehive but Block 9 has yet to be farmed into.
I don't know whether the 3D over Beehive will take in the lower Ordovician but if it does, there appears to be an immediate upgrade potential back to the original MEO assessments. The claim that it potentially is Australia's largest undrilled prospect is well fitting IMO. Roll on the 3D and results. Cheers.
MAY Price at posting:
1.3¢ Sentiment: None Disclosure: Held
