This is actually a very conservative estimate of recoverable oil as, if you look at the note 2 at the footer of page 1, the calls are based on typical Cuban heavy oil recoveries of 4.8 to 5%.
Considering the news release of 24th Feb which shows significant and widespread fracturing in the limestone reservoir along with good oil mobility, high pressures and suggested higher than typical Cuban API, there is a likelihood that these figures are very significantly on the downside of what will be actually recovered.
We are going to have a right old time when MAY comes back on the ASX, be it tomorrow or Wednesday.
DYOR.
Ann: Alameda-1 - Independent Resources Assessment (Upper Sheet), page-43
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