Yes they have the capital base and tech skills to develop Alameda.. great JVP
..they went and threw $2bill at developing couple Iraq Oil Discoveries one having heavy 15Api oil....
We could well see Sonangol take advantage of the stupid ASX MAY S/Hs and pick up the other 30% of Block-9 for 300-500million
then bag 100% of a project that could well be producing 10kbbls's per day oil for many decades ..unlike the new US shale industry that see 40% declines within a year .. these rare onshore muti Billion bbl discoveries can last a generation.. and with Oil tech always advancing we have seen heavy sour crude oil demand actually be higher than the lighter Api sweets as the refineries have been setup to refine these sour crudes ... also great from refining diesel.. when NZ had a refinery it was set-up to take Heavy crude oil ... use to make great petroleum products ... well till the Govt taxed/reg them out of operations...
MAY Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
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