Ann: Santa Cruz Oil Field - Binding Agreement Finalised, page-10

Hi justlocal,

Cuba is as communist as China, how you interpret that is down to you, however the very nature of Cuba opening its doors to foreign investment and wishing to do more tells me how Cuba is changing..indeed if you keep abreast of news there are many recent articles about the changes that are sweeping the country..most of these are not communist related. 

Back to the deal, As it progresses things should become clearer...however.....

To put your question into perspective  and just as a matter of interest,

i am going to compare..

outside of all the major and super major oil companys ( bp, Exxon, Eni, Cnpc, lukoil, shell, ) higher management and commercial and financial  teams involved in similar profit sharing agreements in Iraq on far far larger scales, the actual fiscal terms are NOT open knowledge to the market or shareholders. 

Instead of critiquing the potential fiscal terms of the deal,  why don’t you trust management in putting the company and its shareholders in a position where they will not only recover every cent of cost but also make profit each day from every barrel of oil over the base target..What that will be become clearer if and when it happens , however you yourself and the ASX market in whole have dissed this already as a bad deal , as it is completely misunderstood and it’s in Cuba ! 

The very mention of the C word in your post by you tells me all I need to know about that..

Robert Zammit is in a Cuba and I have just had an email from him...there is a conference and this news is big news for that conference.. 

He is doing what he said he would do...so why do you need to know the exact terms of the agreement when it is quite clearly confidential at this stage.. The company has advised costs will be recovered and profit will be made , that is all that is needed to know at this stage of this very early move.

We have had 2 very big pieces of news relating to Beehive and a Cuba and the market could not give a toss about any of it..

Hopefully the news on block 9 is imminent as well and we will see just how the market takes that..