Conventional reservoir means that it would not need to be fracced . A big plus to avoid that significant cost when they have other things yet to fund. Conventional wells also usually have much slower drop in production rates from the initial rates .
Mel has near term funding requirements but I thought VEN had enough cash for its near term requirements ? VEN actually ended down today , what did the Market Expect ???!!!!! Both have had a lukewarm response to what looks like a good discovery and 100% success in their Cooper Basin drilling campaign so far , 3 out of 3 .
Valli 3 now has a very good COS . And Kinta has probably been upgraded by this result too . Maybe the flow tests will kick things along .
MEL Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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