The term,"Profit Oil" ought to be defined in the Block 9 PSC...

The term,"Profit Oil" ought to be defined in the Block 9 PSC that May signed with Cuba. I don't know that it is or what the definition is but hopefully, it will amount to the well head production revenue, based on an agreed oil price for the product quality, less production opex (which would likely include royalties payable to the Cuban Gov) but exclude capex and any other operator based costs over the block exploration, and development. A sort of well head net production value. IMO but DYOR

Perhaps when the deal is made binding come Dec. its announcement will give more detail as to the definition. It would also be helpful for investors to know what the status would be for MAY in the event that the Chinese sell out of Block 9 before the expiry of the PSC. (20 years) ie: would there be a clause protecting the  Profit Oil entitlement for MAY by requiring a transfer of same to any new owner as part of any on sale agreement? Cheers!