MAY 18.2% 3.9¢ melbana energy limited

Ann: Block 9 Alameda 2 Increase in Net Pay, page-633

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 6,571 Posts.
    lightbulb Created with Sketch. 2484
    Apart from the fact if the well does not naturally flow for production it is significantly more expensive to produce (possibly unviable), and apart from the fact we cannot perform a shut in test to calculate a more accurate volumetric analysis of the reserve on Amistad 1a, here is a simple question that might make you understand the importance of the flow:

    Question: after 16hours of testing Amistad 1a (usually it takes 5days minimum), was the well able to flow anymore? And if not, is that a hint that not much oil is there? or that the reserve is not an "active petroleum system"?

    It might seem good to the noobie, but to the more experienced investor like me, I consider it a failed flow test.
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
3.9¢
Change
0.006(18.2%)
Mkt cap ! $131.4M
Open High Low Value Volume
3.3¢ 4.1¢ 3.3¢ $502.2K 13.53M

Buyers (Bids)

No. Vol. Price($)
1 20000 3.8¢
 

Sellers (Offers)

Price($) Vol. No.
3.9¢ 1589482 5
View Market Depth
Last trade - 16.10pm 30/09/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.