MAY (ASX) MOVE your SUPER-TANKER out of my DEEP-WATER PORT

Originally posted by Kit67: ↑

So let me get this right, @Linkebacker11

You are insinuating that there is a problem with the $22 million dollar "Outstanding Cash Call from JV Partner" that is disclosed in the Quarterly Cash Flow Report?

This is a $22.768 million dollar receivable due from Sonangol - the JV Partner - in accordance with the JV terms. It is not overdue, and is being paid in accordance with the agreement between Melbana and Sonangol. In fact, if you care to have a closer look you will notice that each quarter Melbana have indeed been receiving payments from Sonangol in accordance with their JV agreement.

Sonangol is the second largest oil producer in Africa, producing around 2 million barrels of oil per day. In 2023 their net profit was U$3.1 billion dollars off the back of U$10.9 billion turnover. During 2023 Sonangol made investments of around U$2 billion, which is an increase of 41% from the previous year. To insinuate that they cannot or will not make the JV payment is an absurd and ridiculous statement. To keep poking people and asking questions about it as your way of "implying" a problem is equally ridiculous. I suggest that if you have any further doubts, refrain from simply posting absurd statements and contact Melbana who, experience shows, will gladly set the matter straight for you. To continue to post your questions or insinuations about this is a blatant down-ramp.

For the record: at the end of December 2023 the company's total available funding was A$42.8 million, comprising of around $20 million in cash and cash equivalents, and $22.8 million in receivables. The company has very clearly and publicly stated that the current campaign is fully funded. To imply that there is a need for a Capital Raising would be untrue. Melbana have openly stated that the current discovery is one of the largest onshore discoveries in the last 50 years or so, and that focus is now on monetising that asset. They have provided a timeline for this, and have been very clear about their aspirations (for example, the billion dollar market cap within 3 years).

I strongly suggest that if you doubt any of the above, don't argue with me (or anyone else on these threads) - simply contact the company. I can guarantee that their focus is on building long-term value for shareholders, and not playing nursemaid to the HotCopper crowd.

Nuff said.

Regards
Kit.

Expand

So let me get this right, @Linkebacker11 You are insinuating that there is a problem with the $22 million dollar
"Outstanding Cash Call from JV Partner" that is disclosed in the Quarterly Cash Flow Report?"

... no ... nice try ...

... mean-while in the real world ...

"Farmout agreement signed for Cuba Block 9 PSC
MELBOURNE, AUSTRALIA (23 December 2019)
-Two high impact exploration wells (Alameda and Zapato) to be drilled in Block 9;" [part-of]

... so what may any deal be after two wells ... updated [?] ... that's what it clearly says 'two' ...

... for all you're long-ramp you didn't mention any maybe JV conditions 'wells' or maybe updates ? ...

... may there be a ~22 million dollar question ...

... MAY have been performing extremely well operationally imo ...

No.	Vol.	Price($)
6	1576000	2.5¢

No.

Vol.

Price($)

1576000

2.5¢

Price($)	Vol.	No.
2.6¢	4290	1

Price($)

Vol.

No.

2.6¢

4290

No.	Vol.	Price($)
6	1576000	0.025
8	891249	0.024
14	3244328	0.023
15	6224411	0.022
17	1554553	0.021

No.

Vol.

Price($)

1576000

0.025

891249

0.024

3244328

0.023

6224411

0.022

1554553

0.021

Price($)	Vol.	No.
0.026	4290	1
0.027	1551611	4
0.028	1600811	11
0.029	2219276	12
0.030	1323984	6

Price($)

Vol.

No.

0.026

4290

0.027

1551611

0.028

1600811

0.029

2219276

0.030

1323984

(20min delay)
Last 2.6¢		Change 0.000(0.00%)		Mkt cap ! $87.62M

Open	High	Low	Value	Volume
2.6¢	2.7¢	2.6¢	$108.2K	4.082M

MOVE your SUPER-TANKER out of my DEEP-WATER PORT, page-305

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