An update was imminent weeks ago according to you Kit. I cant blame you for that though management are very misleading with this company. Your guess however is most likely wrong as any "flow" would probably be enough to engage in a trading halt straight away. Saying the world markets wont spoil your party is very misleading. These tariffs affect the whole world. And trump has just dialed it up big time in the last 24 hours.
Silence from Melbana for over a month is appalling. Simply checking chagpt shows an acid wash to remove formation damage does not take anywhere near this long. No news is bad news when it comes to MAY.
I do think that MAY will EVENTUALLY get oil out of the ground. But to do this they need a new drilling team and a CR. The current drilling team just isnt experienced enough to handle the conditions Melbana are facing clearly. Maybe its time to contract some of the Chinese working in the area for some proper expert advice.
Crude oil is crashing, all technicals point towards more downside. CR incoming if they dont get this to flow. Global markets going risk off and funds selling off. Id be very cautious as a holder and be putting in a stop loss. If you dont think it can go much lower I have a wooden horse to sell you. My exs father in law was buying this at the 0.008 level. Thats another 63% drop and market conditions were arguably far better then compared to now. That was only in September 2020 not that long ago
MAY Price at posting:
2.3¢ Sentiment: Sell Disclosure: Not Held
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