MAY 6.06% 3.5¢ melbana energy limited

Unfortunately it seems this deal/FID etc all hinges on A3. I’m...

  1. 7,798 Posts.
    lightbulb Created with Sketch. 1489
    Unfortunately it seems this deal/FID etc all hinges on A3. I’m hopeful of strong results in alameda tests at around 3500 3300 and 3200. Mud intrusion should be less and I know they upped the mud sg after alameda liner string was set. Furthermore, the perf gun should bypass any intrusion and I wouldn’t be surprised if the results are outstanding in 3/4 zones especially the lowest zone where fractures are huge - we know to date 1/4 is paused pending some wash out job which will require removal of production tubing and packer then circulation of acid wash da da da.

    However, Im pissed as I thought this was all part of conditioning the well!? And, after coring, mud samples, cuttings analysis this reeks of incompetence or even a sabotage job. It doesn’t stack up. Not to me. I’d have thought experts should have expected mud emulsion blockages formation damage intrusion etc and planned accordingly. That’s why I accepted they were taking their time, for conditioning etc. apparently not.

    buy/hold well under true valuation just for the upper sheet.
    Last edited by justinmetals: 18/06/24
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
3.5¢
Change
0.002(6.06%)
Mkt cap ! $117.9M
Open High Low Value Volume
3.3¢ 3.6¢ 3.3¢ $577.5K 16.92M

Buyers (Bids)

No. Vol. Price($)
5 1018559 3.4¢
 

Sellers (Offers)

Price($) Vol. No.
3.5¢ 1521853 6
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.