MAY 6.67% 2.8¢ melbana energy limited

Ann: Block 9 Alameda 2 Appraisal Update, page-612

  1. 59 Posts.
    lightbulb Created with Sketch. 14
    Re potentially bigger than envisioned, a quarter of that webinar was AP talking about how Unit 3 was larger than expected and that it's the main takeaway from the announcement. They expected the heavy oil (albeit hoping for lighter oil) and a horizontal frac potentially flows 3 times as much. He also stated A-3 is the main game, big pressure seen at that Marti zone. Makes sense to drill A-2 and test other zones first, because funding will still be around to drill A-3 as it's more enticing, even if A-2 failed. But it didn't fail, it gave us unexpected upside with 1A flowing unassisted, and larger unit 3.

    The last DST has already derisked the area substantially for unit 3 - I assume they will attempt to find its crest for future drilling.

    Holding tight for results of Unit 2 and 1B.
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
2.8¢
Change
-0.002(6.67%)
Mkt cap ! $94.36M
Open High Low Value Volume
3.0¢ 3.0¢ 2.8¢ $131.2K 4.519M

Buyers (Bids)

No. Vol. Price($)
35 3524240 2.8¢
 

Sellers (Offers)

Price($) Vol. No.
3.0¢ 1158000 5
View Market Depth
Last trade - 16.10pm 08/07/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.