MAY - oil explorer drilling at the moment in Cuba. Over 600m of oil shows flowing to the surface...yet to be wire logged. Market cap about 70 mill. Owns 30% of the well. Pit yr chips in. I'm in the options, ex at 3.5
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MAY - oil explorer drilling at the moment in Cuba. Over 600m of oil shows flowing to the surface...yet to be wire logged. Market cap about 70 mill. Owns 30% of the well. Pit yr chips in. I'm in the options, ex at 3.5
Picked up some heads at .019c and options at .009c. Results look promising, wire logging to confirm the significance of the oil shows.
@Paddie....heads at .019.....u r laughing now. I bought most of mine when they announced so I paid too much for the options....been averaging down so damage not so bad. I got into NWE options at 1.1 when they announced and thought MAY would take a similar path but hasn't. Time will tell
Next week should be a big week for both companies. Hopefully the remedial work on the well for NWE will be successful and completed and flow testing commenced. For MAY, we should get the wire line logging results for the upper section. Success will lead to a rerating for both of these two companies.
I hope so....any other companies that look good @paddie?
Yes was planning on getting a few MAY shares .... Big targets in a Bullish Energy future ..
In today with 2.5mill Shares/opts
Elixir Energy (EXR). Australian CBM explorer in Mongolia and has a 30,000km2 license area. Four sub basins discovered, independently verified prospective resource of 14.6Tcf. They have a very strong management team including Richard Cottee, and currently have 3 rigs drilling flat out. From memory around 9 out of 11 drills so far have been successful. Still a lot of upside left.
@paddie...was in them at 4 cents...out at 24...went bk in at 26 about 3 months ago and sold for 23 at a loss....now they take off. Also have a couple K in tpd. Do U know anything about xam.. copper in Mongolia? Bought some DLC recently for its uranium at 1.3
Should well get an update today going from last couple of Tuesday exploration updates ... which have been very positive.... if the same again today surely we will blow past 3c
Looking good for an Oil discovery in the upper zone ... now what lies deeper .. good BUYing here IMHO
Can't believe this hasn't taken off. I hope it doesn't mean something sinister but then maybe the well is in Cuba.
I just think the market sentiment for the sector is woeful...isn’t giving much weight to the buying pressure .. another holding TEG has a negative EV ... just shipped 108000bbls oil 78% interest .... 10mill in revenue.. 2p reserve sees least 7 more shipments ...hearing talk around major offshore Farm-in ... SP weak ... but I just keep buying ...
MAY Ann’s so very positive... great hold as Oil has got legs to move much higher
Yes there is always MICRO and MACRO factors at play ...so many blame companies for their SP not catching a BID while forgetting to look across the whole MACRO issues
Demand for O&G will only increase from here as the world moves on from COVID with far more HUMANs that pre COVID .... today another 154,400 humans added to the planet..
So much easy money floating about ... so many constraints on freight ...when it all gets flowing again personal I think Oil will surge north of $100bbl USD during 2022 ...
Bloomberg says that big oil majors are not investing it into future production.
Here’s a snippet…
‘Chevron is perhaps the best example of a company turning away from the punch bowl.
‘The California-based oil giant generated the most free cash flow in its 142-year history during the third quarter but intends to keep capital spending 20 per cent below pre-Covid levels next year while increasing share buybacks.
‘Its 2022 capital budget will come in at the low end of its $US15 billion to $US17 billion range, according to chief financial officer Pierre Breber, some 60 per cent below 2014 levels.’...
And present Big Oil's free cash flow combined are seen higher than during $100 crude in 2014 some 30 billion USD !!!!
Nice to see the options jump past 0.8....been in here since October last year with an average of 1 cents...taken longer to get going but hopefully we won't need to look bk. Anyone in PCL? I got the 4 oilers at the moment... Nwe, pcl, may and one I can't mention ;-)
MAY going off this morning, heads just hit 3.3c. Next week should be good for MAY with further results due.
Sold some options at 1.5 to pay for my AUH....investing with debt...not recommended.
That should read 1.3
And bought some more at 1.3....will be turning them over daily until they hit :-/
MAY going off again today up 46% currently after finding a "Gross oil interval of 500mMD (~450mTVD) in the N structure, accompanied by high gas pressure"
MAY off like a rat up a drain pole .. that really lit the fuse and the main target still yet to be reached, if not wrong :)
Quote:
6.6¢ - Change + 0.029(+ 78.4%)
You are on to it nztx, an outstanding day for MAY holders. The main target is next for the well, followed by the Zapato well. This well is really shaping up to be something exceptional.
The Pump & Dumpsters and Daytrader crews have been in (up to 7.8c) and she's still
sitting at 6.9c - now 7.0 on Chi-X - could be interesting looking forwards :)
All smiles....up and up......thought I got it wrong when I bought in at 1.3 when there were oil shows and then the price went to 0.7. Had a $350k day and a $200k day...and there is another well to drill. I would say sell but I think it's buy more.....Got into tmk today
Pull-back today. Holding forever....Got some money in TMK....had to chase it up to 1.1. Drilling in Mongolia.....hopefully as successful as exr. Market cap about 12mill and it holds 66% of the well....other holder is TPD.
Onya’ Jb, well earned.
Thanks for sharing your thoughts on here freely, I should obviously pay more attention!
Someone is enjoying deleting my posts ... is some sad people around ...can't handle JBmurc making $$$$$$$$ LOL
I thinking we will open on Monday into a "Trading Halt" with an updated resource assessment of the Upper Sheets.... where seen a Great Oil interval and high Gas pressures ....
Yes TH Monday ... news Tuesday is my pick then within couple weeks the same ... some of the BIG 2-3mill purchases I was watching go through last couple hours ... very exciting ..15c my retirement target ...yet I think it could well double that if they have hit the upper target range and we see re-rate of the whole BLOCK-9 with several more potential drill sites ... Billion barrel etc
Hell, once in a lifetime opportunity.....and I'm not all in. Should I...
An interesting Reddit posting on MAY here (from 6 months ago) -
https://www.reddit.com/r/ASX_Bets/co...ix_of_ivz_brk/
probably among better I have seen, with maps, diagrams and an interesting summary
Block 9 with Alameda / Zapato drill sites & prospects are not all these guys have
It looks like MAY were early entrants into Cuba in 2015, so got to secure pretty good prospects,
established good connections with Cuba National Oil & Cuban Authorities.
They have further interests in addition to Block 9 -
Santa Cruz (offshore) Cuba 100%
Beehive Royalty - potential payments
Ongoing Royalty / Residuals in Aust permit interests sold on AC/P50 & AC/P51
Turtle & Barnett (100%) prospects (next to Beehive permits etc sold)
Tassle Shoal Projects (100%) Aust
In the time since, there have been further announcements by MAY on ASX
and of course OIL has risen, and Drilling has gone into high gear.
At the time the Reddit user posted the article, it looks like SP was around AU 2.0 c
Without seeking to ramp things - the possible future value (if Alameda proves to 3/3)
just on Block 9 looks fairly interesting in the very least to current SP levels :)
JB - 15c may be a bit short of where this ultimately could go - who knows :)
Discl: Happy Camper
8.0 c broken this arbo on CHI-x - now 8.3c
Houston - this rocket is lifting off :)
Looks like a strong finish to the day? Trading halt tomorrow? Very exciting as a holder.
Tuesday Big Reveal Day is here ? :)
I certainly had expectations of an announcement this morning. I am surprised that the results are taking so long.
A bit of a pre TH tree shake & profit taking by the looks of things
Have to expect these things when most others are in the red & MAY is one
of the exceptions
I see someone suggested News from Cuba usually an ASX afternoon job
I am not so sure about the afternoon announcements? The last few have come out within a few minutes of the market opening, we will see in time but I would certainly a TH before the weekend. It has been a good run of late and I am not fazed at all by a down day today.
Something must be up & an Announcement due soon when the Tree Shakers and Daytraders
are bashing the SP up and down by 0.005c in continuous 20 or so min intervals :)
Interesting on HC to see delayed ASX high, CHI live in the dip then rising again
lots of fluctuation from 7.0c through to 7.5c
North of 113 m Vol through so far
Higher Lows and the hefty Vol must say something ? :)
Good opportunities to load up in the troughs IMO
Looks like nothing from MAY today.
Perhaps tomorrow they will wheel out the Piano, Cuban Singer and give us an Announcement ? :)
Awesome news, glad I bought a ticket for the show
Any comments on the latest?
disc... hold a little bit
I’m a complete novice but my interpretation of the latest announcement is it’s a big deal. Sounds like it exceeds expectations. I think it’s going to be a big year for MAY.
Disc- I hold some, and bought more yesterday.
8.6c close - a good announcement from drilling the lower level of Alameda could leave rubber on the tarmac IMO :)
If it's really good or exceptional - who knows .. MAY be off the wall ? :)
Congrats to those who jumped in last week at 5.0c / 5.5c
Its an exciting time to be a MAY holder. I brought in to the heads at 1.9c so I am sitting on a nice profit. This has a way to run yet with drilling now in to the primary target. The next few weeks will be interesting with a further rerate looking highly likely.
Yeah. I am just back to looking at investing again after a long time on the sidelines (life!) and threw a couple of grand at this after reading the threads etc.
Was expecting JBMurc to comment by now but see he has been banned - probably upset some creampuffs feelings.
I hope he comes back because he has some good insights.....although if this takes off then he might be retiring soon...haha.
There used to be someone else years ago that I followed - Oiler?? - he followed the well drilling programmes and made some punts based on that. Was fun.
up to 9.0c today before another tree shake
haven't looked at volumes in the shake, but many holders must be becoming more
resistant to selling / wanting to hold ahead of coming announcements IMO
Managed to buy more at the top. I'm getting better with practice ....buy high sell low...The Ukraine war has given me lots of opportunities. May we strike more oil (:-)
My ASP is a touch over 7c but hopeful I’ll be happy with that buy in price in 6-12 months time.
ASX Announcement 3 Mar 2022:
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
Strong Oil & Gas shows encountered within the I Structure
10.0c on CHI-x ; 9.9c ASX (20 min delay) currently :)
Happy, happy...7 bagger for me....heard there's a lot more to come.
Congratulations younga.
Something about MAY right now that is much more exciting than the rest of my portfolio haha
Interesting trading today - down to below 9.0 suggestedly on news of a fire
outside a Nuke plant in Ukraine - probably a few km down the road, but who
knows.. MAY seems to be rebounding again - 9.8c / 9.9 currently
Certainly must have allowed a few entry or top up points for holders along the way
at lower SP levels, and shaken out a few nervous holders too :)
Congrats younga & JBMerc - thanks JB for the heads up on this one, look forward
to your return and further views / contributions here..
Investor Webinar 9 Mar 2022 (at short notice)
Time for a Big Announcement ?
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
I would expect to see a Trading Halt and market announcement before then if its price sensitive.... maybe they have the champagne on ice?
It looks close to a 11.3c / 11.5c close (+ 22% / 25.0%) for the day
Yep big finish - 25% up today. Some huge investments bought towards the end.
Should be an even bigger 24-48 hours for MAY. Fingers crossed.
Up to highs of 12.8c on CHI-x ; 13.0c on ASX - then down to 11.5c start ahead of tomorrow's instalment
of updates
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
Hydrocarbon influx into Wellbore
Alameda is turning out to be and outstanding well. 15c on the cards today?
Is it wrong to want to buy even more at 15c?
depends on where you think this might go IMO :)
from 5.5c in the dip to 14.0c in space of 2 weeks
it's volatile & there is a wealth of info on HC & other sites
but DYOR before jumping
Unprecedented high O&G prices may linger for some years
with a world clambering for alternative supplies away from Russia
Zapato is still to come + how many more wells ?
Plenty of room left for this to run IMO. This well is exceeding expectations and Zapato next to be drilled so there is still lots ahead of MAY.
That’s the thing, it feels like May is just getting warmed up, and the value of the find hasn’t been accounted for yet. Let alone Zapato?
See the shares dropped bk ...more increases to come
12.5c / 13.3c range so far today
A solid finish at 14.0 today ahead of next announcement
Much more to come guys I'm thinking 20c on decent primary target results ... might take a few of the table if it goes really well
Placement .....talk of 11c gutted if it is to the weak hand insto's,sohps,pros that pretty much dump asap for quick buck
Seems odd considering the comments in the webinar, but I am hoping by the end of this week it will be small talk compared to a positive announcement.
But wait there's more - just released
Independent Resource Assessment - Upper Sheet
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
2.6 Billion barrels in the upper? … holy smokes
It makes the placement news even more galling really. I mean, release the IR Assessment first ffs which was already on the radar and positive, then do the placement at north of 12c after the news has bedded down. It smells bad to shareholders and of lining certain pockets even though the assessment news is great.
The placement was done at 12c while the sp was 14c, it was done when the sp was at 14c in halt with huge news. Absolutely no risk and all reward for the lucky few.
I don't view the Cap Placement as negative, but enhancing / accelerating towards production
commercialisation ..
MAY are perfectly placed to run hard ahead in a storm of prevailing headwinds
What is there not to like about what MAY are doing ?
The SP has leaped from early Jan 2022 2c to 14c last close with an avalanche
of further favourable announcements likely on the way.. :)
Totally agree with your commentary, the placement isn't company negative and they are now perfectly placed...and yes the appreciation since Jan has been non stop.
My observation is more around the timing of the placement. The placement is being conducted on a listed security based on a last traded market price of 14c concurrently with newly released price sensitive information which has not been disseminated by the market. To me it just looks and smells wrong in terms of their order and that is what I don't like about what MAY are doing.
I would have preferred the release of the IR Assessment today - the market digests the 'good' news and a placement can then be held on Wednesday or Thursday given the market has had the availability of all known information beforehand.
2 posts from me in a day, I must be bored or interested!
I agree nothing is going stop MAY running on latest ann's past 20c ..and until we see details of Placement can't really bag Mgmt too much... still would have liked to get more @ 11c if that indeed is the Raise price
Alameda-1: Independent Resources Assessment (Upper Sheet)
Highlights
• Independent reserves expert McDaniel & Associates has made the following
assessment of the three oil reservoirs encountered by the Alameda-1 well in the upper
sheet1 in the Block 9 Production Sharing Contract (Block 9 PSC) area, onshore Cuba:
− 2.5 billion barrels of oil in place
− a combined 119 million barrels2 of Prospective Resource (100% share, unrisked
mean estimate)*
− 86% chance of geological success in at least one of the three zones
• Melbana has a 30% participating interest in Block 9 PSC
• Resource assessment is for the upper units of Alameda-1 only
https://themarketherald.com.au/melba...-1-2022-03-14/
Sounds like the Cap Raise is 12.5mill with 2.5mill Oversub ---@ 12c .... details to be dropped WED .... not sure what my target is now with upper section having so much oil ...
27.5c and I'll add another 10x bagger to the list
Tomorrow could be interesting following on from recent announcements
A few bags here and looking for further :)
My best stock was wbt options
...20x ...but this could eclipse it...up 10x already with this one.
https://twitter.com/melbanaenergy/st...15185647792128
Think we could do better than the 5% thats giving us 119MMbbls. ----( so maybe if lighter oil 200MMbbls ???and thats just first smaller of three oil bearing traps to be tested ...!!!)
Saw that today JB, I’m really looking forward to the next 2 months especially. Think the ride with Melbana will be a string of good news.
Yes it ind of hard to fathom how huge this could be not only for us smart Shareholders HOLDing tight but Cuba as well than imports 50,000bbl oil per day .... MAY in time could be the gap that fills that demand ....
I've done a few numbers on just this well ... and using 600MMbbls = 180MMbbls net to MAY @ only $10 AUD per bbl = 1.8Billion ... even with more capital raised I see 50c+ within next 12months ...and HUGE yield going forward at present prices ...and thats not including any more successive wells in Block-9 which I'm sure there will be
Expected the price to rise today but didn't. From memory, they expect to start producing in May (of all the months they choose may....). I predict the share price will double by May. May I be right.
PAUSE - Pending an announcement :)
And now a TRADING HALT pending announcement on Drilling programme at Block 9
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
Bring on hopefully an update to drive SP past 20c !!
Pretty positive stuff -
ALAMEDA-1 DRILLING COMPLETED
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
and thats just my first target ....longer term if MAY does indeed have 30% share in a 1Billion recoverable Oil discovery some believe ..my gut feel was 500MMbbl untill latest ann .... 350m oil shows into bottom target and didn't reach the bottom ..
I'm thinking MAY is the next BPT ... so 3.5B cap or $1.50 SP with more upside on Block-9 ... HUGE cashflows as Cuba Imports 50,000bbls a day ... MAY might well fill that gap ... Upside in Block-9 which I'm sure MAY could well farm down and get free carry for Billions more in oil resources,,
Certainly a T/O target in HUGE NEO lights for US Oil Major... that will prob pay overs to secure the asset
MAY finishing strongly today. 20c in the next few days, looking forward to the logging and flow testing.
Yes exciting times ahead. Up over 15 bags on the options and 10 on the heads. This has a lot to run yet, was originally getting out at 20-25c, now thinking 40-50c.
Wow what a day. I’m new to exploration stocks like May but I am so glad I gave it a go. Of all the bandwagons to jump on…Just wow
A bit of a pullback after Thursday's part day excitement to close @ 17.5c
Plenty more run IMO with Logging & a further avalanche of announcements likely
on taming the captive resident Cuban Elephants lurking down under :)
Possibly opportunity of topping up for those happy with what they see..