Feb approaching, page-19

@nammuldi
Change to 3 balls, 4 if you want to include TS.
Cuba has 2 large operational scopes for May, both very different, neither are connected.
Interested to hear your views in why you are now so unsure re Cuba.
I see you invested 12 months ago based on Cuba (sic) , May actually had no partnership then and no Santa Cruz deal, now we do have both and are months away from actual operations.
May likely have got the best deal possible in an area where it was always going to be difficult to partner, icing on the cake , would of course have been immediate cash but not many of those going globally ATM..
The Chinese partner we have is a good backstop for shareholders as I feel petrocuba will not wish to play games with a Chinese money enterprise. As you also allude we are now cost free in Block 9 with all costs for 3 wells and future ops fully covered.
The COS in the Cuban Block 9 targets are extremely high , bordering near appraisal values...total failure on all multiple targets on all 3 wells whilst of course possible, seems extremely unlikely to me , indeed I would go as far to say that anyone betting on total failure on all multiple targets on all 3 wells will lose.

Santa Cruz is a producing oilfield of potentially 100 million barrels of recoverable oil, ( fact) to date less than 10 million bbls has been recovered.( fact) 
Again here the possibility of increasing oil out of the ground using modern technology seems far greater than not being able to do . Increasing oil production forms the basis of our deal ,if we increase, we gain revenue per barrel .
All the cash spent on “ increasing production” is cost recoverable, we are not doing it for free.

I am not trying to influence your opinion, I am however interested in it and the fact as we draw very close to defining operations in Cuba, your view on Cuba has changed from a year ago when you first invested here..