MAY melbana energy limited

9.52%

2.3¢

Ann: Cuba Block 9 Update, page-1599

First 1599 Last

Share
Profile

Follow
avthold04

1,554 Posts.

372

05/04/25

09:47

Post #: 78565096
Share

Originally posted by rahrah: ↑

0.42% yes, but I agree any price movement is not on much stock at all. Still a very high trading day relative to the average. My concern with the company is this. Everyone knows there is oil there, everyone knows it has been difficult to get it out. My concern is to show the market as quick as possible that we can get it out, in a cost efficient profitable way…now I don’t care if that was by remediating the well or by drilling a new one. Feel free to correct me if I am wrong but I am sure maybe two years ago that they said drilling into the top layer is cheap and fairly easy…just do it. I think the issue is that the company will eventually be worth more, than it is now, but how much dilution will occur to get it there, either by a farm-out or the like. Having said that if Sonangol knows the project as well as we do, why hasn’t it just offered to do it…this has always been my WTF on this project. If anyone can tell me why they haven’t just gone we will buy another 10% of Block 9 for $40 or $50 million or whatever price you would

Expand

They did have any problems with oil flowing in 1b - 1903 bpd chocked back to 1200 bpd. The problems came when they closed it down to continue drilling deeper hoping to produce from A3 and when they went back a few months later, formation damage dropped the flow to 300bpd.

The next two wells are specific to produce straight away from 1B, so theoritically there is no reason why they wont produce above 1200 bpd.

The nearby Varadero oil field was a profilic producer.

MAY Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
17 Upvote

0 Great analysis

Reply

Top Stories

MVF

Monash IVF shares cater 25% – Disaster or deep-value play?

PAR

Paradigm Biopharmaceuticals makes key acquisition moving into FY26

HotCopper Highlights Week 26: Droneshield 2.0; Trigg re-jig & Virgin

SRL

Sunrise pops on top scandium hits NSW explorer will now use for 'multi-decade' plan

RMX

Red Mountain: Chip samples point to 'large orogenic antimony mineral system' at Oaky Creek

Week 26 Wrap: Renewable gas fantasies; RBA July cut hope builds; copper's August peak?

BPH

Australia’s gas crisis is here – and dying coal plants aren’t helping

AII

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

OCC

Orthocell sees 4% jump as Remplir used in first US surgery. But is that low?

First 1599 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 2.3¢		Change 0.002(9.52%)		Mkt cap ! $77.51M

Open	High	Low	Value	Volume
2.2¢	2.3¢	2.1¢	$62.26K	2.871M

Buyers (Bids)

No.	Vol.	Price($)
1	909090	2.2¢

Sellers (Offers)

Price($)	Vol.	No.
2.3¢	931186	2

View Market Depth

No.	Vol.	Price($)
7	3931458	0.021
12	2500998	0.020
5	500737	0.019
3	63000	0.018
1	3000000	0.016

Price($)	Vol.	No.
0.023	931186	2
0.024	3843514	11
0.025	1733416	9
0.026	205263	5
0.027	181540	2

Last trade - 16.10pm 27/06/2025 (20 minute delay)

MAY (ASX) Chart

Ann: Cuba Block 9 Update, page-1599

Monash IVF shares cater 25% – Disaster or deep-value play?

Paradigm Biopharmaceuticals makes key acquisition moving into FY26

HotCopper Highlights Week 26: Droneshield 2.0; Trigg re-jig & Virgin

Sunrise pops on top scandium hits NSW explorer will now use for 'multi-decade' plan

Red Mountain: Chip samples point to 'large orogenic antimony mineral system' at Oaky Creek

Week 26 Wrap: Renewable gas fantasies; RBA July cut hope builds; copper's August peak?

Australia’s gas crisis is here – and dying coal plants aren’t helping

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

Orthocell sees 4% jump as Remplir used in first US surgery. But is that low?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Cuba Block 9 Update, page-1599

Top Stories

Monash IVF shares cater 25% – Disaster or deep-value play?

Paradigm Biopharmaceuticals makes key acquisition moving into FY26

HotCopper Highlights Week 26: Droneshield 2.0; Trigg re-jig & Virgin

Sunrise pops on top scandium hits NSW explorer will now use for 'multi-decade' plan

Red Mountain: Chip samples point to 'large orogenic antimony mineral system' at Oaky Creek

Week 26 Wrap: Renewable gas fantasies; RBA July cut hope builds; copper's August peak?

Australia’s gas crisis is here – and dying coal plants aren’t helping

NATO’s 5% target: Why Almonty Industries’ mega mine and NASDAQ listing are a perfect fit for investors

Listen: HotCopper Wire Podcast 015 – Yeah, we're thinking the IPO market is back

Orthocell sees 4% jump as Remplir used in first US surgery. But is that low?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News