MAY 4.35% 2.2¢ melbana energy limited

Ann: Forward work program for Block 9 drilling program, page-226

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    Looking at the announcement there isn’t any new news unfortunately, looks like they are doing further studies on the results. Drilling on to the primary structure.

    I would interpret that the reservoir is mixed quality with some vuggy/fractured sections. It does look like the upper and N sheet are filled to spill given the extent of oil shows. The pressure regime in the N sheet as I’ve speculated may represent a strat trap, if the pressure regime is equal in the N sheet and primary structure it may represent a very substantial discovery. Either way the source rocks are excellent.
 
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