I’m not a MEL holder but have been a VEN holder since almost the start.
The problems the JV have encountered so far are standard oil and gas problems and totally normal for a start-up. Looking at MEL financials it looks like the company is being run pretty lean, which I like.
VEN on the other hand have been spending money thinking they are a Beach or a Santos. As I have stated previously on VEN forums, they have had one of the largest salary bills on the ASX for a company their size.
I like the area. I like the assets. Personally I think the basin is actually under-explored. Drilling costs have gone up which is bad for Cooper basin producers.
If Vali wells can be rectified and Odin-2 comes online successfully, MEL will be in a nice position.
And if you ask me why I am still in VEN given my negative sentiment towards their expenditure, all I say is PEL679, unfortunately MEL do not hold an interest in the permit, but I am confident if the drill ever gets going there, oil will be struck.
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.665M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 19285488 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10613886 | 10 |
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| Last trade - 10.04am 20/06/2025 (20 minute delay) ? |
| MEL (ASX) Chart |
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