Ann: Cuba Block 9 Farmout, page-31

Good post Jakspara.

Agree in all of that..

I have had coms today with company. I will be looking to clarify some additional points over the next week or so with them in further coms.

Main take I get is :

1- AGMI is fully endorsed by Cupet and the Cuban govt and this is seen by the endorsement of the LOI by them, 

This represents IMO significant... new foreign interest and investment into Cuba and they will be all over this I feel to get that message home that Cuba is open for business ..it also represents a very secure feeling for Melbana shareholders who are concerned with sovereign risk issues..I for one have no issues with a Chinese partner in this play as I feel it represents the best cusion for any shenanigans that Cupet may come up with.. there is just no way with the current state of affairs in Cuba and China now being its new sugar daddy , they will risk messing with Chinese entitys....

2- AGMI are an interesting company it seems, they have assets and entitys globally...seems private Chinese money but have deep routes with the state owned oil and gas entities . I am researching them as I type.

3- Agree with your comments re profit oil ... however some clarification is needed by company.. 100% alignment to only cost oil recovery at start up would not be allowed .... so income should come in from day 1 of production.

4- Agree With your view of the royalties make up and how this is being structured ,  this indeed does make it look like a 40-50 % rentention of license but many will not see it that way.. The market in a whole and most here have completely overlooked, this is not a farm out to drill a well or wells like most farm outs. .. it is a full synergy to drill, develop ,produce  and sell oil from a massive potential of oil in ground and anticipated moveable oil ... All at zero cost to Melbana and shareholders..

if this was a straight asset farm down farm out for exploration drilling , we may well have been zero cost to drill , but we certainly would not have been zero cost to develop and operate... .

Not a great day to release decent news, Market in whole is Down and I guess one could say ( I have) we have a knack for not being able to release good news in good sentiment days but would it really have affected the lukewarm reception by the ASX of this Ann, I am not so sure..

Hopefully lots of news flow from outside sources will now start to flow and bring us in the spotlight , we need this.