Flam hit the nail on the head. The flow is very weak. MAY did not finish the day on a high either generally that is not bullish. Ive seen MAY pump harder off no news then this 16% up.
Truth is if this result was as good as this thread makes it out to be it would be upwards of 50%+ today (as weve seen in the past off a higher share price base also) and stayed at that instead of retracing. Instead its still in the 2c range. Would not be surprised to see this drop tomorrow.
Everyone expected better results then this. It was not a complete failure but a failure in my eyes. To go from a flow rate of 1900 at one point to 488 for only 12 hours is disheartening. A CR is incoming. 488 bopd per well is not enough to sustain the current operations and drilling (and who knows what the rate was after the 12 hour mark??)
Yeah Melbana successfully extracted oil but that isnt enough to transform a company into a oil producing powerhouse especially at these rates.
MAY Price at posting:
2.8¢ Sentiment: Sell Disclosure: Not Held
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