MAY 6.06% 3.5¢ melbana energy limited

Brighty it's got nothing to do with whats in the rest of block...

  1. 3,603 Posts.
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    Brighty it's got nothing to do with whats in the rest of block 9. From now it's all about production. Reserve certification wont do any harm in the interim but it's all about how much and how quickly.
    On past performance AP will make the wrong choices slowly. I mean he declined a second rig 2 years ago.
    It's human nature to see the world only from ones own perspective. Posters regularly remonstrate why anybody would sell now but our circumstances are all different. As I own 3 score and 10 I realistically assume I have 10 years productive existence left and that could be very quickly abbreviated. Thus the 2 years AP wasted tilting at windmills represents 20% of what useful existence I may still entertain. For me that is wholly unacceptable as I have a large investment here and Tempus Fugit is not my friend. If my life is going to take an uplift it needs to happen now, actually 2 yrs ago would have been much better.
    Then there is a question mark over the POO going forward as governments race to reduce consumption. So I need production and sales ASAP. I note that the production in 1b tailed off ; is this the skinning that Roo talks about? If so how can it be stimulated? I also understand we will not be using the Sherritt 1 rig going forward. Does this mean we will be using the rig AP previously declined? Strange world we live in. Will AP hit the ground running and chase production because thats the only way we will see serious SP growth given the credibility gap generated by his choices over the recent years. The rest of block 9 is so distant it will have no SP impact for years and we need 3d as well incidentally. I doubt block 9 development will have any significance to me.
 
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