MAY 0.00% 3.2¢ melbana energy limited

Ann: Block 9 Alameda 3 Appraisal Update (Alameda reservoir), page-446

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  1. 3,626 Posts.
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    Sonangol own 70% as you know. May was the operator specified in the contract for the first 2 wells, which is not irregular as it required the drilling of these 2 wells for Sonangol to complete the farm in. This enabled AP to compel Sonangol to pay for the drill of Zapato @ 85% thus getting him his maximum dollar of exploration funds which WAS HIS STATED OBJECTIVE! It was the reason the well was halted immediately at TD also IMO as Sonangol didn’t want to continue under those terms. Thus if the well was suspended 50m short of EL Dorado it was for politics, not common sense. As far as I am aware from statements from AP, ( not that posters take his word when it doesn’t fit their agenda) May remains operator at Sonangols discretion. But that is only what AP has stated.
 
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