MAY 11.5% 2.3¢ melbana energy limited

Thanks VOGC.I would be very interested in your opinion as to why...

  1. 194 Posts.
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    Thanks VOGC.

    I would be very interested in your opinion as to why the SW block of the N structure has been dropped from MAY's original estimates.

    The original N structure was 818 million barrels OIP, with 41M recoverable, and high estimate of 2,580 million barrels OIP and 129M recoverable (at 5%). That's a massive amount more than the current 9M recoverable estimate (and 20M high estimate). Factor in a higher recovery rate than 5% and we could be onto an upgrade of multiples of the current estimate!

    Also looking ahead to the Zapato structure, the new schematic on the Melbana website:
    https://www.melbana.com/site/cpfile/8c59ca95-7db5-49ea-971f-9a78d86f58e7/20211213CubaFlyerBlock9.pdf

    What's your view on the "potential Deeper Placetas carbonates" and the old "A2 Lead" in the context of the positioning of N Structure / Alameda structure. It almost looks like Zapato represents the SW portion of the N Structure. Maybe they are waiting to see how Zapato goes before including the NW block as part of the N structure estimate?

    https://hotcopper.com.au/data/attachments/4063/4063376-e656afaf252ccb92af627a2179eb07dd.jpg

 
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