MAY (ASX) Ann: InvestorStream interview with Executive Chairman

Originally posted by Hateful8: ↑

3:51 AP when asked about news flow sums up all rather casually by stating that after logging and flow testing (in the next few weeks) "All those independent pieces of data will be given to out independent RESERVE certifier who will assess them & look at the calculations in coming up with "we hope" a Contingent Resource, perhaps even a "RESERVE" depending on how things all operate and that will come out in the months ahead.

Before adding "but of course that's just this well (Alameda) we are talking about and then we have Zapato which depending on how long these flow tests will take will be starting sometime in MAY..

For any & all who understand the difference between a Resource and a Bankable Reserve then that little snippet, delivered very casually by a man with 230million reasons to feel nervous after Tuesdays market reaction & shock fall, is the defining point in the whole interview for mio..

"Perhaps the market didn't understand what was written" I do believe he said in relation to the reaction, over the trace water elements in the 4th logging run..

Now AP is either a fool, or a man carrying himself with the calmness & clarity of one who knows that this is the last day of the "Tour De Cuba" and he is in the yellow Jersey taking the odd question and sipping on sweet success.

Official Reserve, perhaps you say?

In a month or so, you feel?

Man might be inclined to bank that then come July 1, perhaps? Sell in MAY & go away be damned.. hehe

De todos modos, son buenas noches de mi parte.

Asi que buenas noches y suerte a todos amigos gracias a Dios

Y en ingles "GLTAH" as there's a very slim chance we may need it or, perhaps there's a greater chance, we don't?.. ;-)

Heheheeh 8teyThere were seven Spanish Angels
At the Altar of the Sun
They were prayin' for good numbers
In them oily barrelled drums
Coz when the drill had stopped and all mud was shot
Flares thundered from the flow
And seven Spanish Angels
Took another milly home
9 Mar 2022

14 Mar 2022

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “This is the first independent assessment of the results obtained from the drilling of the Alameda-1 well and it confirms the significant potential of what we encountered in the upper sheet. Given that moveable oil was unexpected at these shallow depths, Block 9 now has the potential to provide quicker and cheaper access to significant volumes of oil independent of the deeper zones that were the primary objectives of this well. McDaniel’s estimates of Prospective Resource have the potential to increase if the recovery rate they assumed is greater in practice (a possibility given the oil that has been encountered in Alameda-1 appears to be less heavy, under considerably more pressure than that found offshore and, given our well is onshore, more easily able to employ many different secondary recovery techniques and orient the drilling from any direction to exploit the existing fracture system).

A separate assessment will be undertaken of the resource potential of the deeper primary objectives once the drilling and testing operations at Alameda-1 have been completed.”
1 See ASX announcement dated 5 October 2021
2 Assuming a typical recovery rate for Cuban heavy oil of 4.8 - 5%

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That is a genius post thanks@Hateful8

I am significantly invested in MAY. Shareholders have every reason to be confident because everything you could wish for is there. Thought last week's wirelog announcment was very positive, so was very surprised to see the selloff. Obvious that people didn't read or didn't try to understand it.

I saw the latest webinar and thought it was excellent. BUT. Missed that all-important word reserve.

Thanks for highlighting it. Fully understand its significance.

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(20min delay)
Last 2.3¢		Change 0.000(0.00%)		Mkt cap ! $77.51M

Open	High	Low	Value	Volume
2.4¢	2.4¢	2.3¢	$37.36K	1.616M

That is a genius post thanks@Hateful8I am significantly invested...

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