Once there is some clarity into how MEL will fund their...

Once there is some clarity into how MEL will fund their operations until first revenue from the Vali / Odin fields we will see the SP float up.
The flow tests of course will be critical but based on the flow test of Vali 1and the electric logs of Valli 2 and Odin1 they should be commercial .
I really wish the JV was in the position that they could drill an exploration well at Kito directly after Valli 3 .
They are under time and under budget in the drilling program so far ????

That prospect must have been greatly de-risked by the results so far and a discovery would increase the reserves and potential borrowing power for development .
They already have a good inventory of low risk development wells to drill and a Kilto discovery would increase that number .

The oil shows are encouraging .
A drilling campaign based on the oil prospects likely after the gas is producing revenue .
Shallow cheap to drill wells.
However Cervantes is the potential Company Maker on the oil front .
The further that gets put back in time the better though .

I wish the Government would actually do something to help prevent the looming East Coast gas shortage instead of threatening export and price controls .
How valuable would be a government loan guarantee , for what are low risk loans , to companies like MEL and VEN on the verge of near term production .
Would likely cost the government nothing at a time when they are they are spending money as if it is confetti.
Would make low cost finance available for Nation building activities and build diversity of supply.
Expediating all the permitting requirements would not hurt either .

There are only Political Reasons why this is very unlikely .