MAY melbana energy limited

9.52%

2.3¢

Ann: Cuba Block 9 Update, page-1599

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avthold04

1,554 Posts.

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05/04/25

09:47

Post #: 78565096
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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

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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
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(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

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