MAY 4.65% 4.1¢ melbana energy limited

all credit to you trying to pump the s*** out of this. fact is....

  1. 1,071 Posts.
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    all credit to you trying to pump the s*** out of this. fact is. may wont start appraisal of only the amistad zones maybe by end of march. mays 30% of this is 36mil barrels. theres no arguing the size of the prospective resource but you are way ahead of yourself here. markets are irrational so continuing to pump wouldnt surprise me but this should be played with a very tight sl if it gets close to 8c before christmas. they have nothing until its apparaised and theyre only doing amistad at 36mil in march so if that goes well sure your valuation of 12-18c makes sense then consideration can be given to the remaining resource. be wary here. running of the back of a pumpy ann that snuck through a 1 month delay. with directors buying in a somewhat questionable fashion.
 
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