Better than the duster at IVZ that would likely have been nationalized if successful.
MAY has perfect API for Cuban refineries. 1k+ bopd from 1B free-flow and likely 2k+ with pumps or horizontal. Room for 30 pads targeting multiple layers.
Likely lighter oil and higher flow rates from Marti and the N structure - likely finding a market outside of Cuba.
At least $60 per barrel even given bearish contributions here with <$10 production cost.
Globally significant onshore oil field that has potential to produce 200k+ bopd in several years with pipeline assistance. 30% to MAY. Company already conducting aerial survey of pipeline route - such is the confidence.
Statement from company that MAY can very quickly get up to 5k bopd. Likely margin of AUD $3M+ per month to MAY. MAY are able to recoup exploration costs before Cuba begin taking a share + they will receive tax breaks for a few years.
Need for further capital therefore limited to pipeline development and would be done so in conjunction with a forward production plan that would knock your socks off.
Better than the duster at IVZ that would likely have been...
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Last
5.5¢ |
Change
0.002(3.77%) |
Mkt cap ! $185.3M | |||
| Open | High | Low | Value | Volume |
| 5.2¢ | 5.5¢ | 5.1¢ | $261.5K | 4.892M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 125000 | 5.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.5¢ | 422199 | 2 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
5.4¢ |
Change
0.002 ( 3.85 %) |
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| Open | High | Low | Volume | ||
| 5.3¢ | 5.5¢ | 5.1¢ | 1548133 | ||
| Last updated 15.58pm 06/05/2024 ? | |||||
| MAY (ASX) Chart |