MAY 3.85% 2.7¢ melbana energy limited

Ann: Block 9 Alameda 2 Increase in Net Pay, page-53

  1. 6,783 Posts.
    lightbulb Created with Sketch. 1647
    I thought that one of the interesting side points in the release is the following;

    "There is an oil column in Unit 1A which is separated by a seal from Unit 1B which has a substantial oil column with a different oil density to that seen in Unit 1A".

    The assumption has always been that 1A is heavy (ish) oil although having fractures and a high net reading suggests its not typical Cuban 5 to 10 API glug.

    That 1B is a different density suggests lighter oil (logically unlikely to be heavier underlying 1A).

    Hopefully this supports the theory that viscosity improves with depth (a pretty common occurrence) so Unit 3 is likely to be highly productive, especially so if there are fractures also in place.

    Good outcome for Cuba and MAY.

    Last edited by rivermore: 04/08/23
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
2.7¢
Change
0.001(3.85%)
Mkt cap ! $90.99M
Open High Low Value Volume
2.7¢ 2.7¢ 2.7¢ $18.45K 683.5K

Buyers (Bids)

No. Vol. Price($)
1 50000 2.6¢
 

Sellers (Offers)

Price($) Vol. No.
2.8¢ 269722 5
View Market Depth
Last trade - 15.50pm 18/09/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.