MAY 3.45% 2.8¢ melbana energy limited

Ann: Zapato-1ST Drilling Update, page-348

  1. 3,626 Posts.
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    I’m one of those whingers. If, and I emphasise if, we discover the median pre drill estimate, this will add 30m bls, raising our net from 68 to 100m barrels. At 30% of IGV this adds stuff all to the MC when compared with what would be if we were producing from 3 wells with more to come.
    We have a globally significant discovery which we are not monetising for the sake of further exploration. I regard this as a farce and a bad decision. I will continue to do so irrespective of the current euphoria or any outcome. Zapato A1 or 2, have been in the making for around 65m years. 18months or so is inconsequential, you are getting excited about a rise in SP that by rights should have been yours to celebrate before EOFY.
 
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