That's the issue really, proving it up. Its unfortunate it couldn't occur during A-1. Doesn't take a genius to look at how the market reacted to the possibility that the resource would be proven, and here we are going back to do so. Management is confident that there is oil and pressure, it takes a bit more than that to certify commerciality though unfortunately. It's promising that the third party was willing to indicate 5% pay without flow rates. Furthermore, Amistad has been reported as having a high probability of commercial success already.
A-2/3 data will clarify plenty, share price is going through Summer/Autumn Deja Vu here with Melbana.
May Chart, page-5726
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Last
2.2¢ |
Change
-0.001(4.35%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.1¢ | $444.7K | 19.98M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2048367 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 1402823 | 5 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |