MAY 0.00% 4.5¢ melbana energy limited

Hi charkie,Yes, dead oils flow with difficulty due to their high...

  1. 1,577 Posts.
    lightbulb Created with Sketch. 3800
    Hi charkie,
    Yes, dead oils flow with difficulty due to their high viscosity. That said, in my view since the sections to be tested in Unit 1B and 2 are "highly fractured", and the oil column is "substantial", coupled with multiple points where formations pressures were successfully obtained, leads me to conclude that Unit 1B and Unit 2 will flow. If MAY had quantified how high the formation pressures in Units 1B and 2 were, that would help even further. Remember, oil was flowing over the shackers while they were drilling through the highly-fracture sections - that's a positive to me, as long as they weren't drilling underbalanced...........

    Kind regards OldGeo
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
4.5¢
Change
0.000(0.00%)
Mkt cap ! $151.6M
Open High Low Value Volume
4.6¢ 4.7¢ 4.4¢ $494.2K 10.86M

Buyers (Bids)

No. Vol. Price($)
2 714056 4.5¢
 

Sellers (Offers)

Price($) Vol. No.
4.7¢ 462413 7
View Market Depth
Last trade - 16.10pm 19/06/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.