No you are AP stated "lighter oil" (than was standard in CUBA) not light oil ... he said it again in previous communications...
around 10min mark AP stated >>
"this whole upper interval this whole upper Amistad is icing on the cake" (thats one massive icing IMHO)
"It's not the MAIN GAME we entered Block-9 looking for deeper lighter oil (NOT LIGHT OIL !!)
(next investor) Cuban national oil company Cubapertoleo, or Cupet, has made a significant discovery of lighter than typical crude oil in an exploration well drilled on the Bacuranao prospect in Cuba.This new light oil discovery in the northern part of Cuba’s western region is big news for Melbana Energy (ASX:MAY), which has assets located in the same in proven hydrocarbon system.The Bacuranao discovery is in the northern fold belt trend that continues into MAY’s 100%-owned onshore Block 9 and is in close proximity to the Santa Cruz oil field, for which MAY is currently in exclusive negotiations to finalise an incremental oil recovery contract.Cupet’s Bacuranao discovery was made late in 2017 and has been undergoing long term testing for 10 months.Cupet reported that the oil produced from the field has a density of 22° API, which is the highest quality oil discovered in the area and is encouraging for other nearby oil explorers.
... some other great facts around Alameda >> its around 30kms to the local OIL battery that will take the heavy Cuba crude oil(I guess used for power generation etc?) ... and about the same distance to the oil handling port ..
MAY Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)