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5.80%

6.5¢ melbana energy limited

Nailed it, great post.

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matyd

4,145 Posts.

219

06/09/22

10:08

Post #: 63536968
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Originally posted by articulix: ↑

Also I think everyone forgets there are three types of wells.
1. Exploration Well
2. Appraisal Well
3. Production / Development Wells

All the wells during this schedule have been category 1.

It would've been nice if the well did produce, but due to higher pressures, even when filled and side tracked the well was deemed to high of risk of possible damage to the integrity of the well structure and oil plays that it was abandoned. The well did exactly what it was supposed to do, explore and find oil. Why people keep forgetting that anything more than this is cream on top not mismanagement by the team if it didn't.

This well is also exploration. With that said, they've been very careful, taking past learnings, from sidetracking due to stuck bit early on, to the cement casing of 1000m and better pressure management, one could hope if dinojuice is found then it shall produce. But if it doesn't relax.

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Nailed it, great post.

MAY Price at posting: 8.6¢ Sentiment: Buy Disclosure: Held
2 Upvote

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(20min delay)
Last 6.5¢		Change -0.004(5.80%)		Mkt cap ! $229.1M

Open	High	Low	Value	Volume
6.8¢	6.9¢	6.2¢	$435.5K	6.590M

Buyers (Bids)

No.	Vol.	Price($)
5	648390	6.4¢

Sellers (Offers)

Price($)	Vol.	No.
6.5¢	220760	2

View Market Depth

No.	Vol.	Price($)
1	2307	0.065
5	648390	0.064
5	1150003	0.063
2	266000	0.062
3	362420	0.061

Price($)	Vol.	No.
0.066	1039694	5
0.067	91119	2
0.068	100000	1
0.069	790033	5
0.070	197105	2

Last trade - 13.32pm 17/06/2024 (20 minute delay)


Last 6.8¢			Change -0.004 ( 1.45 %)
Open	High		Low	Volume
6.9¢	6.9¢		6.4¢	3004572
Last updated 13.47pm 17/06/2024 ?

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