Hi Cara, It is encouraging that hydrocarbon shows have been encountered in the shallower section as it demonstrates that hydrocarbon generation is occurring in the area and that hydrocarbons are migrating around the Vali prospect. What we need now is good reservoir development at the primary and secondary objectives levels, as well as a good structure to contain/trap the hydrocarbons trap (robust anticline) and most-importantly an effective overlying seal to keep them there. Let's hope the trap we do have was formed before the hydrocarbons began migrating.
Hopefully MEL make a commercial discovery at Vali, what with Bivouac Peak and Raptor both being dusters. MEL are due win.
Kind regards OldGeo
MEL Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)