Ann: Alameda-1 Significant oil reservoir interpreted in N Struct, page-325

8tey, using conservative figures avoids being cherry-picked for ridicule but risks a farcical valuation. The API and pressure are high due to depth and N is highly fractured. Using Cuban heavy oil 3,000 bpd is not probable and if Zapato and Alameda are both highly successful then Sonangol has the financial muscle to have 4 wells in production by years end.I know you’re well aware of this, I only raise it in case there’s some new oilers who may take your valuation too literally. Most know it is far too early not to be wrong by multiples.