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Member
With Christmas creeping closer I don't see much evidence of that "20c pre Xmas" coming true. I even doubt 10c now. It would have to be a pretty astounding sudden SP increase for that to happen. I suspect it's more likely to just trundle along about the same level it is at for the remainder of the year.
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Yes such a drag waiting for deeper targets to be drill / flow-tested ...we thought pre Xmas now hopefully 1Q24 ... I have sold a few purely @ 7.5c I could see a retreat esp as the Oil price continues south... one ST hope is an upgrade in the upper traps perspective and in time 2P reserves ... could wake up the market to the muti Billion bbl upside MAY have in the area
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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sounds positive>>
Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “This review by McDaniel and Associates lends increased confidence there are 46 million barrels of recoverable higher quality oil in just this one productive Unit 1B (one of four) of this shallowest oil-bearing structure (one of three) from our first discoveries in a ~2,500km2 onshore block where we have identified 19 additional leads. An initial field development plan for this relatively shallow/higher quality Unit 1B oil is now being finalised for partner and regulatory approvals with the goal remaining to export the first cargo before the end of 2024.”
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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 Originally Posted by JBmurc
sounds positive>>
Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “This review by McDaniel and Associates lends increased confidence there are 46 million barrels of recoverable higher quality oil in just this one productive Unit 1B (one of four) of this shallowest oil-bearing structure (one of three) from our first discoveries in a ~2,500km2 onshore block where we have identified 19 additional leads. An initial field development plan for this relatively shallow/higher quality Unit 1B oil is now being finalised for partner and regulatory approvals with the goal remaining to export the first cargo before the end of 2024.”
Why on earth is the mkt just not believing this JB? S/P still bouncing along the bottom?
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Originally Posted by Joshuatree
Why on earth is the mkt just not believing this JB? S/P still bouncing along the bottom?
MAY hasn't been good with timelines ..AP does state export production planned later this year ... market ho-hum ... think MAY has to prove upto the market the commercialization plan and see how it will work with CUBA ... Insto/Funds is happy to sit on their hands ...also MAY is waiting on JVP payments from SNGL .. would be great to see those paid
I know if Alameda discovery was in a Western nation we would have a market value closer to a Billion ... we have just such a LARGE risked valuation in place ..
It's taken just so long from initial discovery 2yrs+ ago to now final appraisal of many of these traps ... today we have the update showing a major larger OIP in the 1B structure .. to get that contingent resource to reserves were the market will wake up Biggly prob late to early next year..
End of the day MAY are holding 30% share in a GIANT OIL DISCOVERY ..IMHO later next year if we haven't been taken over we could be looking at 500+ Mmbbls 2P reserves in Export Quality oil 17-30Api..
One of the largest recent discoveries is ExxonMobil Guyana discovery with 730 million barrels of 2P reserves
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Interesting last couple of days.
Thursdays large drop and rebound with significant volume was hopefully a reversal.
Last edited by dartMonkey; 03-05-2024 at 06:33 PM.
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Originally Posted by dartMonkey
Interesting last couple of days.
Thursdays large drop and rebound with significant volume was hopefully a reversal.
hope some positive news next week ... been taking an age to appraise Alameda ..
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Update on meetings with JVP SNGL ...
what even you do guys DON'T sell your shares cheap ... major anns to come on operations ...could well see 70% JVP muti Billion cap Sonangol make an offer for MAY's interests
The recent dump IMHO was hungry soph/pros Buyers shaking out weak hands and targeting stop-losses
back to 5.5c close should well see 6c tomorrow
Could well open into Trading halt for the rest of the week
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Member
Topped up in the dip there. It's looking tasty
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Originally Posted by Azza
Topped up in the dip there. It's looking tasty
yes looking forward to the big reveal ... must be coming any day now with all the info on development we have been waiting for years to see ... think it will be worth it ... I also added a few more last few weeks
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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