The market has had a massive hissy fit because the best case...

The market has had a massive hissy fit because the best case scenario of oil displacing the water column and reaching the surface of its own accord in commercial quantities has not eventuated. So we are not selling the oil to Cuba or filling the tanks straight up. But we have 600M of moveable oil bearing rock! Not light crude but that was expected.

AP is a banker not an oil man so he is following what the team on the ground are advising; and the message is, that it is feasible that U3 can be returned to and monetised. So now some of us get introduced to the concept of horizontal wells. Even though we now learn they are the norm in Cuba I suppose the company was not going to spook the market by talking about this until it became pertinent.

So the market has become seriously spooked anyway because we don’t have a gusher. A lot of people will have sold to chase other prospects because this looks complicated and they can’t see the immediate dollars, but, it sure ain’t game over.