MAY 4.65% 4.1¢ melbana energy limited

Good call imo, It's great some people are making some...

  1. 2,164 Posts.
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    Good call imo, It's great some people are making some money, if I had to choose a country with more sovereign risk than Cuba it'd be Zimbabwe they have a track record of repossessions lol. It's going to be some sort of negotiation to get someone to finance a gas plant there and I'll take my hat off to them.

    I'm pivoting more to where the high energy demand markets are whilst energy prices are high Austria and California etc not because I believe they'll find a bigger reserve than MAY I think MAY's find in time will be a white whale (as compared to an elephant) but because they need a hell of a lot more work to prove up the oil field / s and it's all about making money at the end of the day.

    The Amistad program is what you need to see 25k per day is 7.5k net to MAY. Say easy $50 USD profit margin $164m a year in profit. Based on Karoon though that will get them to $500m market cap-ish.

    So Al-1 they killed off.

    Al-2 can produce 1500 bopd from memory.

    I guess the curious thing this time with Al-3 is can they control it and put it on tap it could actually be a 4-5k per day well from the Marti or Alameda zone now that would be nice! I'm assuming if they said 5k per day in 2024 it doesn't include a Amistad program at all they are assuming a flow rate of 3500 bopd upon a successful Al-3 appraisal. So your banking on by end of 2025 3-4 more Amistad horizontal wells and a 1-2 well production from Alameda / Marti zone type program.
 
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