Getting a bit ahead of ourselves. MEL will be running on fumes at the moment . Revenue will only start a month after gas is delivered and will only be very modest until the second and third wells are brought into production. There will be creditors to pay and a need to rebuild the balance sheet . More drilling at Vali and Odin has been flagged as have been drilling on the shallow oil targets in the permits .
Any new projects would need fresh equity and who would want that . They are a financially fragile minnow at the moment and if they try and go too fast imo it will be at the expense of the share price .
MEL Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
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