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MAY - Melbana Energy

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No need to feel miffed.
Just commentary.
My comments are purely technical at the right-hand
side of the page. You could make a motza.

It happens and if you have enough on it can change
your financial position dramatically some even
life-changing.
 
Hope for the best, plan for the worst.
tech/a said:
Hope has never been a leading indicator I could rely on!
Click to expand...
I've found profit delirium to be a leading indicator. It often indicates I should be selling before profits go poof...?

Swervin Mervin said:
Sorry if I’ve done the research and found one thats flying under the radar and hold a liitle hope to. Good luck to your strategies to
Click to expand...
FA definitely has its place and has proven itself in my trading.
It's rare for festering cankers to pop for no reason, however, some festerers pop from death throws.
(Those in the know pumping and dumping...)

Note, I'm not implying ANYTHING about this stock in either direction.
KYS (know your stock) has been a very profitable pastime for those that put the research effort in, as can TA for those who are very good at it.

Also, I love hearing about profitable and non profitable exercises as there's usually lessons to be learnt from both.
Cheers.
 
I wanted to find time to post a chart and as there is a little interest in the analysis I'll give a little commentary until I get some time.

Price has blasted through the bottom of the Volume Control area at .63c
Generally, the VCA now becomes resistant where price may re-visit the area but is often rejected as those trapped in that price zone escape when they get an opportunity. Things will alter if another VC bar appears and another area or zone comes into play.
Right now this is trapped and will make a new high very difficult. The hope of a price-busting announcement is about all that's left.

Hope you're not throwing those bricks through windows!
 
On closing today with announcement today at 14:35

Significant oil reservoir interpreted in N Structure






Melbana Energy Limited (ASX: MAY) (Melbana) is pleased to provide this update on its drilling operations in its Block 9 contract area onshore Cuba.

After reviewing the logging data acquired recently across the N interval, commencing at a depth of 2,878 mMD (2,791 mTVD), the preliminary assessment is that this interval contains net hydrocarbon pay of about 100 mMD (88 mTVD) in aggregate across a gross reservoir interval of about 560 mMD (495 mTVD). This is in addition to the previously reported interpreted net pay in the shallower Amistad structure.

The recovery characteristics of this reservoir interval will be better understood once initial flow testing work is done. This is planned to take place immediately following the completion of drilling at Alameda-1, expected to be in about two weeks (depending on drilling conditions). The following factors raise expectations for the commercial recovery of the oil encountered in the N Structure to date:
1. Alameda-1 is on trend with the nearby Varadero oil field, reported to contain 11 billion barrels of oil in place and responsible for tens of million of barrels of oil production since its discovery in the 1970s;

2. biostratigraphic analysis of samples taken in the N interval indicate a reservoir of similar age to the most productive sections of the Varadero field;
 

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Ahh Life has returned.
The move if it finishes well out of the V/C area will indicate exhaustion of supply at these levels.
The zone is then likely to act as support.
An immediate (Tomorrow) return back into the zone will indicate supply has returned.
 

Well done. Nice.

Price reacted pretty well exactly as I expected.
We now have a new V/C bar. I'll mark up a chart tonight if interested.
 
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