MAY 3.57% 2.7¢ melbana energy limited

Shareholder's Options 31/08/18, page-5

  1. 422 Posts.
    lightbulb Created with Sketch. 41
    we should all know by now, if we truly are MAY investors, of what events to drive the Aug 2018 options at 2c strike. at time of issue, it would be NZ striking more oil than Trump's hands on swimsuits. instead we got pee drip of oil. also at time of the option issue, Cuba farmout should have been finalised by now but this is now pushed back another 6 months, maybe due to the change of leadership in Cuba, maybe it was lenigas wanting more to give back its onwership of Cuba, or maybe MAY wants a better deal.
    it would not be beehive that drove the 2c option issue. we would be lucky to get 3d interpretation before christmas 2018.
    i think we lack privy to the complicated negotiations between management and potential farmout partners to call out management for not trying harder. I am sure farmout partners want the cheapest deal which management may push back. I am willing to bet, Purcell has more skin in this game than all of us combined.
    I am not advising any of you to buy, but I have bought at these levels 1.4c, 1.2c and 1.1c and will buy more should the price falls further. If farmout is completed by july, MAY will be more than 2c come 31 aug 2018.
    we should then talk seriously about dual listing from then on.
    DYOR
 
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