MAY 0.00% 3.2¢ melbana energy limited

Ann: Zapato-1ST Drilling Update, page-181

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 4,582 Posts.
    lightbulb Created with Sketch. 1555
    Yes I know if it was possible Alameda 1 would have gone into production after testing and appraisal, that was the hope when drilling started but it was not possible due to that hole being badly compromised, this was also announced. These are pretty dynamic operations, nothing is set in stone and drillers have to deal with the changing reality of each hole.

    They don’t mention an appraisal of Zapato 1 in the quarterly and I assume it’s because of the issue with this hole that had already occurred prior to the quarterly announcement but after the quarter ended. VOGC made mention of this in one of his posts I believe.
    So lower your expectations for production on this hole before the end of next month which is what started these posts in the first place. Even if it was possible from now they would need to drill another 1000m after hitting the target and running the liner to that point complete drilling that 1000m run the wire logging run the liner to the bottom then setting up the hole for testing. All that getting past that side track in the hole.
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
3.2¢
Change
0.000(0.00%)
Mkt cap ! $107.8M
Open High Low Value Volume
3.0¢ 3.2¢ 3.0¢ $60.89K 1.970M

Buyers (Bids)

No. Vol. Price($)
6 100834 3.1¢
 

Sellers (Offers)

Price($) Vol. No.
3.2¢ 810320 8
View Market Depth
Last trade - 15.53pm 13/11/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.