MAY 4.35% 2.2¢ melbana energy limited

Wooo Hoooo Go MAY :)$$$$$$$, page-1005

  1. 283 Posts.
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    i doubt they will be postponing A3 as while they are drilling it, they would be able to get approvals for the other horizontal production drills, negotiate terms of logistics and/or sales to the refinery.

    I think going only by the trading halt request it may be what the total cost for the well was to appease people that future horizontal wells will not be prohibitive in cost.

    Possibly, an extended flow test. Or they tried different well treatments to aid flow to surface

    Trying to maximise/ maintain shareholder value by making sure the market is fully informed that these are good results with a flash well informed presentation of results. I think they and alot of us for that matter were shocked by the markets response to the preliminary appraisal. I think it had always been framed as a potential and relatively simple flow creator (albeit lower margin) for the company because it is relatively cheap and shallow to drill these targets. This could then help fund costs related to exploiting a hopefully successful A3 drill and in time a return to Zapato.

    By that stage mate Cuba has been given membership by its Communist big brothers into BRICS which might open doors for them to export more easily.
 
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