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3.6¢ melbana energy limited

Ann: Zapato-1st Drilling Update and Option Expiry Reminder, page-49

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Nedkelly01

648 Posts.

96

01/09/22

13:56

Post #: 63462332
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Originally posted by afawcett: ↑

nedkelly01,

My assumption is that there is an area of interest in the volcanics probably linked to fractures. the fact they put in a liner basically says they are making sure that fluids aren't getting into the well and contaminate any test of the primary objective. This is to guarantee stability of the well also.

The fact that the language is vague is pointing to some complexities or that they are waiting on the well to reach TD to announce a full result. The timing is annoying with the options conversions and it bringing down the SP, but the company is with in rights to announce as they interpret something being material. If management aren't answering the phone then it points to a communication freeze until we get a market related announcement.

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Still does not tell me why no wire log reports "Gas detected" Oil DNA found it should be released as soon as there done It does not take this amount of time for a result. Either their holding back for the oppies to run their course or nothing has been detected in the drill hole.

MAY Price at posting: 7.3¢ Sentiment: Buy Disclosure: Held
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