MAY 3.23% 3.0¢ melbana energy limited

Ann: WA-488-P Beehive Update, page-6

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  1. 579 Posts.
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    https://finfeed.com/small-caps/energy/fast-tracked-data-australias-largest-undrilled-hydrocarbon-prospect/

    Looking very much like the new 3D data will support a positive drill decision to me.
    I also think we will receive news soon, I just cannot see this playing out to a late decision in the last day, week or even month of the 6 month period.
    A little surprised at the estimated well cost, seems high for a shallow water drill utilising a jack up.
    Deepwater African Atlantic basin drills utilising cutting edge  6-7th generation drillships have been circa half this cost recently..
    I expect drilling costs globally  to increase over next 12 months and of course there is the Au premium to add in for offshore drilling but still cannot see a 40-60 million wellcost.
 
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