MAY 6.06% 3.5¢ melbana energy limited

Ann: Block 9, Alameda-3 Appraisal Update, page-242

  1. 6,418 Posts.
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    ASX:MAY is in big trouble in my opinion. Marti obviously didn't have the pressure we were led to believe. I believe Alameda is less likely to flow if Marti didn't.

    At best ASX:MAY might stay around this price for the next ~x years.

    A very disappointing result.

    Study this diagram:

    https://hotcopper.com.au/data/attachments/6252/6252936-66564b4ddc4b2149368173dce94c1b74.jpg
    source: with arrows and annotations adapted from 1 Feb 2022, ASX:MAY, Drilling update at Alameda-1 - Strong oil shows https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02481902-3A586404

    I'm out, and moving on. Good luck to those who stay.
 
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