Ann: Operations Update - Block 9, page-177

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Feral54

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23/05/24

09:56

Post #: 73969224
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Originally posted by jason75: ↑

Kit, the facts are that they get 30% after Cupet take their percentage. Now we don't know exactly what that is but a typical sovereign share is around 32.5%.

So, Cupet will take their share then our 30% will give us around 1000bopd for revenue, hopefully by the end of 2024.
While there is nodding donkeys in Cuba that we may be able to use the majority of equipment comes from overseas, mainly Canada and as we have seen with the HP separator takes time so I'm guessing the plan is for 4 producing wells this year to reach the 5000 bpd target.

Now, AP has said that it is transport that will be the blocker at this stage to produce any further, so logistics need to be overcome, and they will but not in the near term.

But to say that May will be producing 100,000 bpd for themselves is absolutely pie in the sky rubbish, that would be producing 500,000bpd from the block.
That is simply not going to happen.

Block 9 is full of oil but the build from explorer to producer may be quicker than most due it being onshore it's not going to be a supermajor .

But hey you do you.

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I stopped repeatedly reminding posters of that 32% many moons ago.
JM climate change with global warming is a scientific fact. Whether it is a natural phenomenon or anthropogenic and related to CO2 is an hypothesis. Whatever ones view, it is simple common sense to replace a finite resource with an infinite resource. Drilling 3 km to suck up a small quantity of very old plankton scum was never a brilliant plan, just an evolution that will be replaced by the current revolution. Your umbrage at this will simplify be steamrolled.
Kit, I agree it will be 6 months before things are aligned sufficiently to get a good handle on the future outlook. I do think new wells into 1b will be horizontals so transport will be the number 1 determinant.

MAY Price at posting: 5.1¢ Sentiment: Buy Disclosure: Held
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