I thought the Announcement of imminent drilling might bring some...

I thought the Announcement of imminent drilling might bring some interest but no market response for MEL or VEN.
Will we have to wait until after the well testing before the market reacts?

Hope they find a sweet spot in the Toolachee in Valli 2 and that Odin is also a success but we may need to wait until all 3 wells are tested to get much response from a skeptical market.

A good result from the BYE drill in June / july would help as well .
BYE might re rate strongly if faith in their business plan is restored .
MEL might sell their shares if that happens.

If Cervantes is drilled on schedule they are short on cash .
Very few options usually get exercised until they are close to expiry even when they are well in the money .
Unless Cervantes gets delayed into CY 22 and I think there is a possibility of that , then MEL has to find some more cash .
They need success in the Cooper Basin to keep things moving .