MAY melbana energy limited

Ann: Block 9, Alameda-3 Appraisal Update, page-335

  1. 6,920 Posts.
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    No. Andrew Purcell, the executive chairman of ASX:MAY once said we need to see if it is just a "flash in the pan" source: https://podcasts.apple.com/au/podcast/why-ukraine-isnt-actually-affecting-petrol-prices-with/id1580677213?i=1000567997007

    In other words, if the oil does not keep entering into the drill string there isn't anything to pump out...

    I actually doubt their assumption that it is blocked lol.. The evidence is actually against this theory, for example: "Oil was recovered on reverse circulation of the DST string, which has been sent for lab analysis and demonstrates the presence of oil very deep on the structure." source: 17/06/2024, ASX:MAY, Block 9, Alameda-3 Appraisal Update https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02818049-3A644448

    In other words, it wasn't blocked.. but then it was? as if.... It all sounds like a classic flow test with a failure to flow. It is what it is.

    Furthermore, they said this testing period went for 6days1 yet, even though it didn't flow they still tested for 6days? This is not what they did in other reservoirs (if you look at the other DST's they did not keep testing for 6+days if nothing happened). Instead, what I think happened is the pressure was high (a flash in a pan), then it dropped off a cliff (this is probably how they got oil after "reverse circulation of the DST string"1), this is probably why they think they can say the pressure was high (initially)... but then... later it probably wasn't high.

    1 - https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02818049-3A644448

    This is just a classic flow test with a failure to flow.
 
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