Ann: Block 9, Alameda-3 Appraisal Update, page-385

I'm no million dollar CEO just a punter
But I wonder why AP didnt focus on oil production from the easy accessible oil first.
MAY would have well over 200 million in prior losses, and would of guaranteed no future capital raises creating dilution,and given share holders confidence the CEO is operating in holders best interest and avoiding many disappointments.
Somebody said today MAYS market cap only 70 to 80 million,there is probably that much value in prior loses.It won't look good if there is a capital raise or takeover in the near future,and would prove AP and associats are masters at running companies into the ground in there best interests not shareholders.
Let's see how this plays out, Any Thoughts ?