MAY 6.06% 7.0¢ melbana energy limited

Cuba Block 9: Operations Update 9 April 2024, page-117

  1. 1,259 Posts.
    lightbulb Created with Sketch. 219
    Interesting read

    https://nextinvestors.com/quick-takes/88e-whats-next/



    Earlier that morning 88E released results from its second flow test on the North Slope of Alaska, announcing a second oil discovery in 2 weeks.

    Over the last 2 weeks 88E has delivered:

    1. A peak flow rate of ~70 barrels of oil per day from the Upper SFS reservoir
    2. A peak flow rate of ~50 barrels of oil per day from the SMD-B reservoir

    These results are in line with 88E’s much higher valued neighbour, the $650M capped, UK listed Pantheon Resources - 88E is capped at ~ $100M.

    The ASX didn't really react to the news yesterday - 88E shares ended the day neutral.

 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
7.0¢
Change
0.004(6.06%)
Mkt cap ! $235.9M
Open High Low Value Volume
6.8¢ 7.1¢ 6.7¢ $430.1K 6.253M

Buyers (Bids)

No. Vol. Price($)
2 67777 7.0¢
 

Sellers (Offers)

Price($) Vol. No.
7.1¢ 670345 15
View Market Depth
Last trade - 16.10pm 06/06/2024 (20 minute delay) ?
Last
7.0¢
  Change
0.004 ( 4.48 %)
Open High Low Volume
6.7¢ 7.1¢ 6.7¢ 2448165
Last updated 15.59pm 06/06/2024 ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.