MAY 11.5% 2.3¢ melbana energy limited

Oil & Gas Article ($MAY feature), page-12

  1. 340 Posts.
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    What delays and timeline misses are you talking about? A2 was a flawless drill with outstanding results. This "delay" that people are harping on about is negligible. I would rather them prepare and setup properly for A3 so it to is a flawless drill rather then rush it, screw up and spend months figuring out what to do and how to fix it. NOW THAT WOULD KILL THE SHARE PRICE. Due to spud in just over a month I am happy with that. A2 is nothing compared to A3 in terms of technicality. Maybe they had to bring in more experienced operators for this one? Who knows. All i know is that AP has shown outstanding performance the last 6 months and redeemed himself in my eyes.

    I trust him and the rest of MAY management are working closely with sonangol, sherritt and CUPET to perform the perfect drill for A3 to maximise results for themselves and shareholders. Don't forget AP (and the other directors) hold far more shares then most of us. They arn't intentionally delaying anything unless it is needed for something in the future. It to hurts them to see the share price go down and no doubt they will be wanting to redeem themselves in the markets eyes and they know the best way to do that (from advice within the board)
 
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