Ann: Alameda-3 Drilling Update, page-232

@afawcett
Ive worked in both onshore and offshore oil and gas for about 30 of the past 40 years so I know well how it all fits together. $31m is a staggering arrears for a oil minnow to be owed though and the timeline of the debt looks like MAY are being paid about 1 year in arrears. I note there is no interest being paid on the overdue monies, only $89k for the past qtr. I’m hoping A3 is a gusher that can be put on production. May should then demobilise and use the oil to clear the JV shortfall. That is probably the only chance they don’t go broke IMO. Save your outrage groupies, you may be sleepwalking into disaster but I prefer to make money so moving on. Good luck all, I hope it works out for you.