MAY 6.90% 3.1¢ melbana energy limited

Personally, I think they over-compensated with the mud weight...

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. 19,072 Posts.
    lightbulb Created with Sketch. 2666
    Personally, I think they over-compensated with the mud weight from Marti 1 to Mart 2, such that the pressure within the hole was greater than the pressure surrounding the hole.

    So instead of oil gushing out of these fractures, you had mud gushing into these fractures (due to greater mud pressure within the hole), forming a cake and sealing these fractures.

    I suspect they will have to side-track just above the VA seal to find another access area to Marti. Aimho
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
3.1¢
Change
0.002(6.90%)
Mkt cap ! $104.4M
Open High Low Value Volume
3.0¢ 3.1¢ 3.0¢ $15.30K 495.1K

Buyers (Bids)

No. Vol. Price($)
4 623931 3.0¢
 

Sellers (Offers)

Price($) Vol. No.
3.1¢ 620773 10
View Market Depth
Last trade - 12.17pm 01/11/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.