Ann: MEO July Open Briefing - Cuba Update-MEO.AX, page-18

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KiwiDave

626 Posts.

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15/07/16

07:51

Post #: 18274979
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Originally posted by pacificwinner ↑

It is almost certain that I am going to be fan of the company after reading MD's open briefing interview:

Several years ago MEO undertook a global screening study to identify proven, conventional onshore provinces with giant resource potential. Cuba emerged as the best opportunity, based on its technical merits, but also the stable and effective regulatory environment. Well before the relations between the US and Cuba started to improve MEO pre-qualified as an operator in Cuba, identified Block 9 as a high ranked opportunity and negotiated directly with the Cuban national oil company, leading up to the award of the Production Sharing Contract to MEO in September 2015.

Imo, he truly shows us what are 'power of insight', 'entrepreneurship' and 'spirt of never-fail' indeed.
From my understanding, Block 9 is previously timely proven evidence showing oilfield with potentially very sizable amount of recoverable oil especially more valuable 'light oil' in place. In addition to announced lower sheet play, if company announces more both upper sheet and shallow territory plays in the future, its potential could be, if drillings are successful, it is almost certain to be at least 'Mid-tier' at once and possible to be a 'Major' as well.

Company also mentioned as the following clearly indicates that even current oil price or even further falling oil price environment, company can have competitiveness indeed, imo.

"Operating costs in Cuba are considered modest. Sherritt International, whose projects include production at the nearby Varadero field reported an operating cost in Cuba of US$9 per barrel for 2015."

Regards,

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I hope that this does happen. I've held this stock for nearly 5 years now. It was the first share I ever purchased. Had written it off as an important lesson in buying shares. Maybe patience will finally pay off.

MEO Price at posting: 3.0¢ Sentiment: Hold Disclosure: Held
7 Upvote

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