A brief history of MAY
• block 9 is an exciting prospect - next to a mature oil field that has been pumping for decades
• 2D seismic shows a bunch of oil bearing structures
• drilling shows oil, oil, oil
• various tests and analysis show loads of oil
• further geology shows a number of separate reservoirs
• oil is good - all export grade - deeper oil very good
• various tests show much more oil than previously estimated
• pressure is ok at shallow depths - but looking very strong at deeper depths
• drilling going back at deepest depths - due in a few weeks
Hopeful next steps
• oil is definitely very good and under high pressure at around 3,500m
• decision to bring on deeper oil as priority
• this will require some serious transport - ideally a pipeline - but trucks will have to do for now
• pipeline plans mobilised
• plan to get shallow oil at later date
• serious possibility of a takeout offer for initial wells - min 30 cents - hopefully 50+
• saving further exploration in block 9 for later
A brief history of MAY• block 9 is an exciting prospect - next...
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Last
5.3¢ |
Change
0.003(6.00%) |
Mkt cap ! $178.6M | |||
| Open | High | Low | Value | Volume |
| 5.4¢ | 5.4¢ | 5.0¢ | $154.8K | 2.985M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 113206 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
5.3¢ |
Change
0.003 ( 4.33 %) |
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| Open | High | Low | Volume | ||
| 5.4¢ | 5.4¢ | 5.0¢ | 1347067 | ||
| Last updated 15.56pm 03/05/2024 ? | |||||
| MAY (ASX) Chart |