MAY
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5.26% 3.6¢ melbana energy limited

I don't think Guyana is the next Middle East, there's...

  1. afawcett
    3,633 Posts.
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    05/04/23
    12:56
    Post #: 67147774
    I don't think Guyana is the next Middle East, there's only between 5-10bboe recoverable there offshore requiring large capital investment. compared to onshore oil it's far more expensive so it hasn't got the same dynamic. Even the recent discoveries off Namibia have the same issues and the same can be said about Brazil. Offshore oil requires atleast 20-30USD a barrel and therefore what we have in Cuba is exceptionally rare where costs are 10-15USD a barrel to produce/develop.
    MAY Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch. 6  Great analysis
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