I agree getting oil out of the ground should be a first priority and it will be after Zapato.
But I think the share price will appreciate before the Zapato results due early July, with any of the following announcements, due later this month:Any of these announcement should push it well above 10c and IMO towards its recent highs.
- Independent reserves certification of Alameda and Marti structures, IMO should show billions of barrels of oil in place and a Prospective Resource of hundreds of millions of barrels of oil for both the Alameda and Marti oil zones of the Alameda-1 discovery.
- Detailed road map to production.
- Any signs of oil in Zapato.
MAY announced in its last announcement that after the completion of the Zapato well it would: "appraise the three oil bearing zones of the Amistad structure encountered whilst drilling Alameda-1, to take place immediately following the completion of Zapato-1" and "These three oil reservoirs have been independently estimated to contain 119 million barrels of Prospective Resource (100% share, unrisked mean estimate). Should the anticipated appraisal well encounter satisfactory production characteristics, this well would be left on production once testing is complete with the produced oil being trucked to the nearby tank farm at Varadero."
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