MAY 9.09% 2.4¢ melbana energy limited

Agreed, there wont be any production this year, if Zaparto finds...

  1. 19 Posts.
    lightbulb Created with Sketch. 11
    Agreed, there wont be any production this year, if Zaparto finds oil maybe a flow test by reducing the mud weight to see is the reservoir has the ability to flow into the well bore but this would just be a test, any large flows could collapse the hole otherwise. To go into production would require running either perforated liners or sand screens into the productive well bore sections, then there is all the topside production equipment required which all takes time, approvals, engineering, construction etc, im not even sure if an exploration well can be converted. I think maybe production could be achieved next year by drilling new production well or converting our prior drilled wells if possible, 1-2 wells trucking the oil anything more would be a massive bonus. Any of this is a good outcome for the company and shareholders and I think is a best case scenario, investing is not a sprint but more of a marathon, if you believe in Malbana as a company buy and hold your shares for for 2+ years and you will be rewarded. also unless you're a drilling/production engineer or something relevant please dont reply to this post with arguments as "but is saw at another company" experience isn't relevant or realistic. GLTAH.
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
2.4¢
Change
0.002(9.09%)
Mkt cap ! $80.88M
Open High Low Value Volume
2.2¢ 2.4¢ 2.2¢ $123.7K 5.384M

Buyers (Bids)

No. Vol. Price($)
4 2419592 2.3¢
 

Sellers (Offers)

Price($) Vol. No.
2.4¢ 3008000 13
View Market Depth
Last trade - 16.10pm 31/07/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.