MAY 9.09% 2.0¢ melbana energy limited

Here's my punt;- The DST's may not have started yet. They may be...

  1. 1,826 Posts.
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    Here's my punt;

    - The DST's may not have started yet. They may be running a tighter hole till then (that is, less comms until only required anns).
    - The well may be close to TD or at TD, with cores in Marti taken.
    - Any DST result from Marti and Alameda is material to the company and results will need to be released.
    - Taking into account Alameda-1, it was 5 and a half weeks from Section TD in Alameda reservior, to log it and reach well TD at circa 3900 meters.
    - For the above reasons I agree with TC's view the DST's may not have started yet

    - I am punting on an update by next Wednesday.
    - At least some of the executive team is in Australia next week as there is a PESA talk next thurs. I cannot imagine half the share register cramming into the room for an update.
    - The update may entail field development plans for Unit 1B, expediting production, sorting out logistics and receiving maiden cashflows.
    - Unit 1B is a more affordable pathway to development for a nimble co like MAY. Development of the lower sheets will entail larger CAPEX. Unit 1B production will create a pathway to reserves and better financing.
    - For the above reasons I agree with Feral the photos were probably for Unit 1B development plans
 
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