De-risking of Alameda Objective on basis of N Objective's Results, page-30

Great work as always Big Man... Respect.

Pulled this article from a paper posted back in June 2021 highlighting the King Sized Cuban Cigars Melbana is currently smoking... It lists all the What, Where How & Why factors which underpinned the business case to drill... Just thought a few might be interested to see how things have transpired & what Voge's confidence boosting slides translate into the $ dollars & Cents value metric proposition $MAY is on the verge of and not just another Hashtag...

MelbanaEnergy and its king-sized Cuban prospects 03 June 2021

ASX-listedMelbana's Block Nine prospect, which it acquired in 2015, is roughly the sizeof a small country, covering 2,344,000 square kilometres.

Melbanashares the Block with joint venture partner Sonangol, which farmed into a 70%interest in the permit last year after agreeing to repay Melbana's US$4 millionof past costs and to meet 85% of the costs of the two well drilling programexpected to commence soon.

Thecompany's exploration efforts are spearheaded by its experienced geoscienceteam which value adds in heavily folded geologies, which leads them tofar-flung locations such as Cuba.

Melbanachairman Andrew Purcell highlights the long history of oil and gas explorationin Cuba, as it sits at the heart of the Gulf of Mexico, with exploitation ofthe original oilfields commencing over 150 years ago (in fact, Spanish galleonsuse to caulk their vessels using tar from these fields hundreds of years ago).

Industryexperts believe the entire Block Nine permit could hold as much as 15billion barrels of oil.

But whywould a A$50 million Australian oil and gas explorer go hunting for such vastprospects in Cuba? Purcell said operating in such a low-cost environment meantit could aim higher than what it could if it stayed in locales closer to home.

"Melbanachases elephants for our shareholders," he said. "We like to leverageour good international connections and our strong geoscience capabilities bygoing into a prolific hydrocarbon zone like the Gulf of Mexico via Cuba, whichhasn't had as much investment and capital, we can get exposure to potentiallymassive plays that would otherwise be difficult for an Australian company ofour size."

Purcell saidthat this strategy had allowed Melbana to be awarded a very large acreage, veryprospective for oil, delivering a golden opportunity for shareholders toparticipate in. "If successful, these wells could produce hundreds ofmillions of barrels," he said.

He also notedlogistical costs were comparatively lower than what it would face in Australia,highlighting that its prospect was only 50km away from an oil terminal. (Couldpossibly be producing by September as per company statements)

The companyplans to spud its first well, Alameda-1, in the coming months.

The companythen goes on to highlight the reasons why they chose the first two targets..

Now that wehave reached the last known depth of 3590m as demonstrated in minute detail by VOGC above and hit the first two targets, lets put the following statements AP noted at the time in context shall we..

Beforecalculating the risk of failure at this point..

1.. Alameda-1 is a conventionalstacked play targeting three structures - the primary Alameda prospect, theshallower N structure as well as the Amistad prospect.

2.. The company plans to drill down toaround 4000 metres saying all three prospects combined could hold 141million barrels of oil on a best estimate resource basis.

3.. Emphasising that point, Purcellhighlighted that the chance of success for its deepest target at Alameda-1is 32% - more than double the global average, thanks to the historical wellsdrilled. Zapato-1 meanwhile has around a 23% chance of success.

4..Zapato-1, its second well, is an even bigger prospect, which could hold as muchas 95 million barrels of crude on a best estimate basis, however on ahigh estimate could host as much as 214 million barrels. Purcell notedthat traditionally Cuba has produced oil from shallower formations delivering amuch heavier crude. What intrigued Melbana to the permits it was granted wasthat the previous deeper drilled vertical wells had produced a much lightercrude, which has far more uses and is far more valuable as a result.

5.. "What we are doing withthat is we are going back in and we are twinning, drilling right next to one ofthose previous wells that recovered oil from those deeper formations of alighter crude. This will be a game changer for Cuba if this issuccessful."

6.. Starting with the western, most [1]studied part of Block Nine, Purcell said a successful discovery at its twowells could help fund exploration and development of the entire block.

7.."Cuba produces around45,000 barrels of oil per day, but it needs twice that. If we find a muchlighter crude than what they're used to, it might be attractive to them to selltheir share for foreign currency" he said.

As formanaging the risks that’s as easy as;

1

"Melbanachases elephants for our shareholders," he said. "We like to leverageour good international connections and our strong geoscience capabilitiesby going into a prolific hydrocarbon zone like the Gulf of Mexico via Cuba

2

"We'revery pleased and very fortunate to have engaged a seasoned operator with decadesof experience drilling in Cuba, such as Sherritt," Purcell said.

3

"Mythanks and respect to Sonangol has gone up tremendously," he said."They quite reasonably could have found any excuse to say ‘in this currentenvironment let's not go ahead with this project now' and they didn't. We arenow where we want to be to drill these wells because of Sonangol, because oftheir faith and commitment to our agreement so a big tick to them."We have all seen it but it's worth re-hashing cause if they thought Zapato could well peg the higher limit then surely the results to date exceed or "significantly Increase" the best estimate of 2018? In which case 141 could grow to 279mmbo



As for the markets interpretation pfffffft, "Bunch of Slack Jawed F***ts" Jesse the Body Ventura would say...

Wouldn't know S**t from Shinola...

1 Buy at 7.1 for 385k units at 3:59:39 before the daisy chain of traders leaving their diamond hands in the building in case the corn futures crashed or something over the weekend matched it down to 6.9...

Apparently they add liquidity or fertilizer to the market, not sure which in greater abundance.. ??

But I wouldn't be too worried if I was me.. As the rationale indicators are all pretty bullish & why not??

Just a laymans take on things to hang off all Voge's hard work and of which I know little about at present.. hehe

GLTAH 8tey


VWAP for the day was actually 7.4c......

.0740

1		Course Of Sales
2	Course Of Sales	$0.0740	53,551,101	$3,961,485.88
53,551,101	,961,485.88
3	Time	Price ($)	Volume	Value ($)	Condition
4	4:10:45 PM	0.069	1	0.069	XT
5	4:10:45 PM	0.069	174,656	12,051.26
6	4:10:45 PM	0.069	245,383	16,931.43
7	4:10:45 PM	0.069	30,000	2,070.00	XT
8	4:10:45 PM	0.069	22,712	1,567.13	XT
9	4:10:45 PM	0.069	77,288	5,332.87	XT
10	4:10:45 PM	0.069	42,712	2,947.13
11	4:10:45 PM	0.069	7,288	502.872
12	4:10:45 PM	0.069	200,000	13,800.00
13	4:10:45 PM	0.069	20,000	1,380.00
14	4:10:45 PM	0.069	200,000	13,800.00
15	4:10:45 PM	0.069	72,712	5,017.13
16	4:10:45 PM	0.069	27,288	1,882.87
17	4:10:45 PM	0.069	25,300	1,745.70
18	4:10:45 PM	0.069	57,412	3,961.43
19	4:10:45 PM	0.069	35,627	2,458.26
20	4:10:45 PM	0.069	14,000	966
21	4:10:45 PM	0.069	33,384	2,303.50
22	4:10:45 PM	0.069	66,989	4,622.24
23	4:10:45 PM	0.069	14,001	966.069
24	4:10:45 PM	0.069	100,999	6,968.93
25	4:10:45 PM	0.069	54,000	3,726.00
26	4:10:45 PM	0.069	42,000	2,898.00
27	4:10:45 PM	0.069	3,001	207.069
28	4:10:45 PM	0.069	9,100	627.9
29	4:10:45 PM	0.069	60,900	4,202.10
30	4:10:45 PM	0.069	20,000	1,380.00	XT
31	4:10:45 PM	0.069	9,999	689.931
32	4:10:45 PM	0.069	1	0.069	XT
33	3:59:39 PM	0.071	385,000	27,335.00	XT
34	3:55:49 PM	0.07	10,000	700

Momentum
Strong Bullish MomentumMomentum for MAY is strongly bullish. The 14-period Slow Stochastic Oscillator is rising, as investors pay higher prices for shares.

Volume
The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term selling pressure by traders.

Volatility
Recent High Volatility Signals Potential Pause in TrendBollinger Bands use standard deviation of the closing price around a moving average to measure volatility. The Bollinger Bands are presently wider than usual, as a result of greater than normal volatility that accompanied the recent price move. Events such as this may precede a pause or reversal in the near term trend.