MAY - Melbana Energy

[JBmurc]

I'm hoping and have invested for MAY to have a major spike higher within month and maybe even within next 2wks on present appraisal well .. some huge Muti Billion O.I.P targets ...I think the market is very asleep here much like we seen with LRS when it was going sideways 10-12c to now more to 28c ... I think MAY could do the same and move from sub 10c towards 20c then on further developments 30c+ this year

[nomis]

I'm hoping and have invested for MAY to have a major spike higher within month and maybe even within next 2wks on present appraisal well .. some huge Muti Billion O.I.P targets ...I think the market is very asleep here much like we seen with LRS when it was going sideways 10-12c to now more to 28c ... I think MAY could do the same and move from sub 10c towards 20c then on further developments 30c+ this year

Thanks JB, I agree i think we will see this bounce before the end of the year

[JBmurc]

Thanks JB, I agree i think we will see this bounce before the end of the year

I think the bounce could well happen this month >>>

[nomis]

I think the bounce could well happen this month >>>

I would say you are going to prove to be right, Well done JB - I'm happy I got a top up in at .086 placed on Tuesday.

[JBmurc]

Great ann.. out today from a section MAY wasn't even expecting to have oil flowing to surface!!!!!

I'll steal this post from HC -poster pannermen

Your counterpart in disappointment at the announcement, posted that in his bearish analysis oil did not flow at a measured rate, so didn’t flow. 40 barrels flowed to surface over a 5 hour window with the well head pressure set at 125 psi.I would like to remind some interested in such outcomes that a household garden hose will flow at 125 psi.tap turned on full bore.( 40 barrels,) = 6360 litres and weight of 5.4 tons approximately. So weight and volume at the pressure of a garden hose turned on, travelled 500m up the well bore over the time period. This is quite phenomenal to say the least. The core samples are a geological dream. The lower sections had more pressure. It has been previously mentioned today by another poster that I respect, that a horizontal well at this point could tap a fair few extra million barrels. Be weary of traders and bearish analysis folks. Oh and there $50 buy and sells


--------this upper new discovery not included in the prospective results to date could add some add--on production ... a Large PUMP jack can pump 5bbls per min ... thats 7200bbls per day from some number i've come across CUBAN heavy 11.7 sour crude less onshore average costs would see profit margin around $27bbl at present =USD $194k per day .... of course one could run 3-4+ pump jacks side by side and take a tidy profit per day from an oil reserve structure that wasn't even expected !!

[JBmurc]

Great to see MAY finally hit 10.5c intraday trade ... 20c+ if we get the anns I think we will next month+

[Sous87]

Early breakout this morning upto 11.5 here we go, conscious a lot can go wrong in drilling but these reservoirs are too exciting for big buyers to not be a part of.

[JBmurc]

Early breakout this morning upto 11.5 here we go, conscious a lot can go wrong in drilling but these reservoirs are too exciting for big buyers to not be a part of.

And we are seeing some BIG buyers turn up ... 12c hit today ... last time MAY dropped the major OIL discovery the SP ran to record highs 800%+ -- 2.8Bill+ shares were traded on the ASX over that FEB/MAR22 ...

we are only seeing minor volumes traded so far this year ..but we get the rights ann's and see 1Bill buying pressure in weeks the SP must be forced much higher ...

[nomis]

And we are seeing some BIG buyers turn up ... 12c hit today ... last time MAY dropped the major OIL discovery the SP ran to record highs 800%+ -- 2.8Bill+ shares were traded on the ASX over that FEB/MAR22 ...

we are only seeing minor volumes traded so far this year ..but we get the rights ann's and see 1Bill buying pressure in weeks the SP must be forced much higher ...

What's your take on latest the announcement JB? HC has already started to attract the hype men, usually doesn't happen until ASX200 or 3/4 bags in a year.

[JBmurc]

What's your take on latest the announcement JB? HC has already started to attract the hype men, usually doesn't happen until ASX200 or 3/4 bags in a year.

All going to plan IMHO ..looking forward to the next updates ... 3x 4x bags certainly in the picture