MAY 6.00% 5.3¢ melbana energy limited

Block 9 $13.5 Billion for 20 years

  1. 313 Posts.
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    This company is banking 2.5 billion barrels a oil, it still has another well to drill and overall they expecting 15 billion barrels out of block 9.
    MAY estimated 450 million barrels in this well , It looks as if MAY found 2.5 billion barrels. even a poor calculation it looks as if they may end up with 7 billion barrels out of Block 9.
    The company has 2.75 billion shares around 2.6 barrels per share worth after cost of $7 about say $100 , not a bad price for the company. That’s $13.5 Billion for 20 years
    From here the company starts with wire logs, confirms commercial quantities of Oil and Gas
    MAY will truck oil to the refinery and the company will have a cash flow within nine months in other words they're likely to pay a dividend in nine months time. I can assure you the shares won't be $0.20 a share.
    It's also looking if they could have a shit load of Gas, this could be worth more than the oil itself

 
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