MAY 0.00% 3.0¢ melbana energy limited

Ann: FY2019 First half results, page-4

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  1. 579 Posts.
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    Not much to add Fidel,
    Im just as hacked off as anyone on the lack of meaningful progress.
    Seems like 1step forward 1 and a quarter back ATM.
    Quite obviously block 9 progress is completely out of their control ATM..
    Chinese are usually very proactive in getting things operating and progressing, so tbh I m a little
    but unsure of what is happening here.
    If it is just a case of things requiring to be ratified at the govt levels , then. It’s taking a bloody long time.
    Also seems to me, nothing meaningful has progressed on block 9 as AGMI / AMEC still do not have the required ratification as yet. Hopefully this will be signed of in the next month, but what the f£&% do I know .

    I am a little neutral with this release TBH, no update on corporate, no update on TS, no further update on Santa Cruz
    Also clear to me, 2 x 60-70 day wells by November 19 with absolutely diddly squat movment in forward progress on prep , wellsite, civils, or equipment mobilisation seems unacheivable , even for Chinese....

    Company unfortunately is very reliant just now, it seems, on other party’s in key areas of our PF for meaningful forward progress and sustained momentum.
    However could all change on a dime here, wouldn’t be surprised to see meaningful news at any time...

    Holding pattern to resume I would say..
 
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