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15-08-2023, 06:26 PM
#311
Originally Posted by nztx
A bit of tree shaking going on imo .. MAY has seen a bit of that over past year or two
What a dumb thing to say, obviously you didn't read the announcement either. Tree shake! LOL, it's a wash on the latest drill.
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15-08-2023, 08:34 PM
#312
Originally Posted by JBmurc
Yeah looking good guys ...can't wait for the flow-rates and grade of the oil .. as we know the A1 discovery is heavy sour crude but it is near surface the deeper hotter traps should be lighter grades the deeper we go .. which should lead to higher flow rates and better export prices... the risks for me was always only discovering only heavy lower priced oil they would only really be used in country at the cuban refineries .
.and as CUBAN don't have much in the way of foreign currencies(US TRADE EMBAGO) could be hard to secure a decent USD price in sales ..but if lighter grades its only 50km's to an export/import port that handles much of the countries Energy..
exciting times for sure .. looking like we have something HUGE ...
How do you feel about it now JB?
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16-08-2023, 08:52 AM
#313
Member
Originally Posted by mike2020
How do you feel about it now JB?
'Pretty clear, on JB's post what he thinks of the heavier crude. Market thinks so too.
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16-08-2023, 09:28 AM
#314
That's a bugger, hoping for a bounce today, unsure whether to take a loss on the bounce or wait and hope for some better results over the next 6 months
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16-08-2023, 12:19 PM
#315
Member
Yes bloody shame, certainly feels knee jerk. We were valued higher before the drill even began turning, and the known resource has substantially improved since that point in time too. Oh well, guess everyone expected it to be liquid honey. I bought a smidge more yesterday… here for the remainder of the show.
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16-08-2023, 10:37 PM
#316
Originally Posted by mike2020
How do you feel about it now JB?
I think we could have a VERY large OIL discovery ...but the market seems to want to focus on the API of the first traps hoping for lighter oil which would mean of course better recoveries and higher sales prices ... I personal never expected light oils always thought that was very unlikely in the upper traps...
.. instead we see 11-12Api from the limited test Amistad upper .. from A1 - UNIT 3 most likely roughly the same in the U2-1B to come ...
.... which is very similar to Varadero oil field in Cuban that at its peak was producing 30,000bopd+ very long life oil producer of 10-14 Api heavy sour crude oil ..
...what I have be surprised by is just how much larger the overall Alameda discovery is ....as we know from the latest results Total logged Net Pay for the Amistad interval now 346 metres !!!!!... just how many Billions bbls even if only 5% recoverable still should be impressive ...
Of course I've always been looking forward to the even larger deeper higher pressured traps ..Alameda + Marti -I personally think we could see 20-30Api so medium oil pretty much what the bulk of the Gulf of Mexico producers ...which feeds the many US Refineries ..
as the MD put it>>
Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “Results from Unit
3 have again demonstrated the presence of moveable hydrocarbons in the Amistad interval –
adding to what was already found in Unit 1A. Also similar to Unit 1A, the good quality logs
obtained have allowed us to identify natural fracturing that enhance the productive qualities of
the reservoir. That Unit 3 was intercepted some 500 metres away and 200 metres updip from
where the same unit was intercepted in Alameda-1 means we have a significant oil bearing
formation typical of what is normally produced in Cuba. We still need to test the last two units,
but from the results obtained to date we now have the potential for a project in this upper sheet
Amistad formation.
I think the SP has been oversold but then time is money and how many punter purchased MAY thinking they were going have light 30-40 Api oil from the upper units ... (I really never thought this was likely)
Market sentiment can force even a great asset to be valued at peanuts to peers and not till the Cash starts to flow will the re-rate really start ...
I'm Holding tight to 1.5MILL shares ... I did sell 25% of my MAY holding few days prior to latest ann.... I've seen so many sell-off even with good anns ... LRS case in point ...thought I'd realised some more cap gain 10.5c
Last edited by JBmurc; 16-08-2023 at 10:41 PM.
"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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16-08-2023, 10:51 PM
#317
OIL samples from the past exploration drills in BLOCK-9
Marti-5 = 22Api Lower sheet
Motembo-50-64.5Api (this was of course the hope many gambler punters were thinking MAY would get straight away in the upper units!!)
Gaudi-1 24.5Api
Bolanos -1 22Api
"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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17-08-2023, 05:17 PM
#318
Purchased more @ 6.4c ...today ...hopefully can BUY more before the deeper targets come in..
"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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24-08-2023, 12:54 PM
#319
Trading Pause ; Trading Halt
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24-08-2023, 09:16 PM
#320
Yes looking forward to next week ...should give us update on all the Amistad intervals .. could well be much larger than the prospective resource given ... will most likely be heavier oil 10-14Api ..but thats pretty common in CUBA with some 200mill bbls of the stuff been produced. so far ...
the bigger prize of course the Alameda - Marti interval traps ... IMHO we could see 20Api+
Certainly potential to be classified in the "GIANT" oil discovery 500Mill Bbls recoverable ... should know OCT/NOV ...
HOLDING tight ... much BS negative views on HC ..
"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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