From the recent Webinar Aitken stated at a capped gas price of $12, the operation for MEL is still hugely economic and considers MEL is seriously undervalued at these prices. From my calculations there will still be gas let over from Vali gas flows outside the AGL agreement which they should be able to get $12 for. We will get a clearer picture when the quarterly cash flow figures are announced, I am quietly confident it will be a very good cash flow for a company of this size particularly when Odin comes on stream. Lots of blue sky for MEL when seismics are done and when new prospects are drilled in 2024, in this very prospective area.
MEL Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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