MAY - Melbana Energy

[JBmurc]

Yeah I'm really looking forward to the next update on the plans going forward I'm sure CUPET will want production ASAP ... and SNGL will want to see a plan to invest into not just minor production ..

[Sous87]

Well… if the AUD to NZD ex rate can just go from 1.11 to about 3.60 I might still be ok.

[JBmurc]

Well… if the AUD to NZD ex rate can just go from 1.11 to about 3.60 I might still be ok.

yes bleak at present ...I have slim hopes all is not lost ...SNGL has paid MAY the funds so appraisal well will be fully paid up .. $12.5Mill in the bank end of last month
goal to have 7x wells drilled into the B1 unit before end of next year..should see 12-15,000Bopd

https://www.youtube.com/watch?v=lA_Lu08eKy0

[nztx]

2.1c a new bottom ? .. interesting opportunity for the patient or not ?

up just 1.1c = +50% if anyone dares ..

Where did it drop from ? Have the boys & girls all run away or just standing back ?

[JBmurc]

Sounds like May will be leading the Neg with interested farm-in partners for both MAY/SNGL interest(of course with SNGL approval) .. so say for the 1B 7x wells maybe the 100% interest in these wells reduces by 30% percent but its fully funded by Farmee.

.. so maybe MAY clips the ticket 15% SNGL 55%...but everything is taken care of by the interested party that if impressed with wells performance will fund more wells for more free carry for MAY/SNGL till it makes sense to put pipeline into place and major contracts for much larger volumes of oil flows

positives I took >>on my second listen.. not so angry watching SP dive!! my ears more open now

-Production costs will be low since the wells will be close to the oil terminal. Cuba is rolling out the red carpet for oil exports, allocated a 250,000 bbl tank all set-up to fill tankers...trucking in place to handle 5000bopd

-Oil traders interested in buying and offering credit in the picture ....

Oil can be sold on global markets..CUBAN doors wide open get it sold boys !!

CUPET have made available their much closer oil battery pipeline maybe used in the med term

update today>
-1A 9-10Api 711MMbbls OIP

and as we know prime export oil
-2B 19api oil 656MMbbls OIP

100% of CUBAN oil production to date has come from the upper sheet

to date ..so LARGE mass of OIL in the upper sheets.. can see why some Oil traders / other O&G want to be involved ..at the 30min mark AP states amonez ??? wants to be involved in the upper sheet ??

And, of course, there is potential for additional gains from exploring deeper traps and other Block-9 locations. At the end of the day, MAY have made a significant oil discovery. However, the team hasn't figured out how to manage the flow from the deeper traps, which appears to be similar to 19-20 API oil according to the contaminated sample.

If the lab results confirm this and we are 90% sure that these deeper traps contain 18-20 API oil, then farm out the deeper traps clip the ticket and focus on another BLOCK-9 location to drill
Motembo-2 50Api+ ???

But yes next 6months will be pretty slow going>>>first oil export end of Q1

[nztx]

2.5c .. that's an improvement .. everyone back onboard again ?