Alameda Prospect Brief Review - value, risk, RF, follow-up etc, page-42

Hi Feral54,

MAY have already mentioned the Upper Sheet hydrocarbon intersections seen so far as a discovery (see Slide). As mentioned in this ASX (26/10/21) "the potential commerciality of the discovery is yet to be determined" - IMO this will require flow testing and resource definition (revised mapping).

However, what interests me is the strength of the comments they've made when combined with Marti-2's well result, the off-set San Anton Field and expertise they will have through Cuban & Sherritt consultants etc.. Also, for MAY to be publicly making these comments their JV partner Sonangol must be in agreement with them and Sonangol are a major outfit with considerable Cuban experience.

IMO, based on my earlier post today, I would like to think that the share price would be well underwritten at 2.5cps. Assuming an Upper Sheet potential resource of 38.34 mmbo the 25% of Full Field value for the U1 & Upper Section would come in at ~5cps.

Hope this helps.

Cheers
VOGC