172.4barrels/day. 62,926barrels/year x US$25/bbl (source:Post #:73041612) x 0.675 (net average entitlement interest with Cuba) x 0.3 (ASX:MAY's share of joint venture) = $318,562.88 $US/year. ($4,778,443.13 $US after 15yrs.... [before the licence to the permit expires "~15yrs before Cuba takes the permit, as they did Sherritt's" in my opinion (Post #:67866067).]).
We were hoping the initial production would completely fund the development plan, unfortunately, it's not.
The economics are not adding up at the moment in my opinion, let's see what the next well brings, and then maybe the next well after that.
I now 100% expect a Melbana capital raise.
Meanwhile... let's see if this well can keep running, or if it stops.
MAY Price at posting:
2.6¢ Sentiment: Sell Disclosure: Not Held
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