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
Hi Feral54,MAY have already mentioned the Upper Sheet...
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