Ann: Cuba, Block 9- Installation of Appraisal Well Underway, page-53

You told us 4 weeks on the 01/02/2023. I said it would be "x" months back then, and copped flak from you and others for it... (because I did not believe the company).

And lo' and behold, here we are almost 2x longer than what the company projected, and you are having a cry because my "expectation/opinion" was 1 week short? (technically could still be correct if they don't get all the rig components by next week).

So you were 14 weeks wrong:

• "only 4 weeks to go….News could drop anytime now with updates" source:66016919 01/02/2023

My "opinion" was 1 week wrong:

• "In my opinion, this rig will not be ready until mid June" source: 67545426 01/05/2023
  
  And the ASX:MAY announcements were about 3 months wrong:
• "The rig is being demobilised and,upon completion of necessary maintenance and recertifications, will be sent back to Alameda drill padto commence appraisal of the significant volumes of moveable hydrocarbons encountered by the Alameda-1 well." source: 27 Oct 2022, ASX:MAY, MELBANA ENERGY LIMITED, Total depth reached at Zapato-1SThttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02589131-3A605694?access_token=83ff96335c2d45a094df02a206a39ff4
  
  
• "MelbanaEnergy Limited (ASX:MAY) (Melbana) is pleased to report that an initial two well appraisal program in Block 9 PSC (Melbana30%) is to be drilled starting in Q1 2023." source: 15 Nov 2022, MELBANA ENERGY LIMITED, Appraisal Program for Block 9, Cubahttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02598221-3A607151?access_token=83ff96335c2d45a094df02a206a39ff4
  
  
• "It's going to be in the new year before we start, and how far into the new year just depends on this maintenance program, but we're gearing up to get going in January, I think maybe it's going to be optimistic to think we could start operating that quickly it's probablygoing to be towards the end of February..." source: 15^thof November, 2022, "**promotion blocked**", ASX:MAY,

  https://www.youtube.com/watch?v=ydrJ5J5hf9c

  
  
• "First Appraisal Well:Alameda-2 Drilling to commence Q1 2023". source: 22 Nov 2022, ASX:MAY, 2022 AGM Presentationhttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02601304-3A607725?access_token=83ff96335c2d45a094df02a206a39ff4
  
  
• "Sherritt Rig #1 is now back at Sherritt’s yards in Varadero undergoing routine maintenance and recertification, where necessary, following the completion of a 15 month drilling program. These works are expected to be completed early in the new year,following which the rig will be mobilised back to the Alameda pad." source: 9 Dec 2022, ASX:MAY, Countdown to appraisal of oil found in Block 9https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02610511-3A609231?access_token=83ff96335c2d45a094df02a206a39ff4
  
  
• On the 24^thof January 2023, the ASX announcement titled "First Appraisal Well Update" stated the following: "Mobilisation notices will be given to contractors in early March..." source: 24 Jan 2023, ASX:MAY, First Appraisal Well Updatehttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02623558-3A611346?access_token=83ff96335c2d45a094df02a206a39ff4
  
  
• "Rig to begin mobilising to site in 3^rdweek of Marchfollowing its projected completion of a nearby well for a third party." and "the rig is expected to be released from its current project in the third week of March, following which it will commence mobilisation to the Alameda pad near the township of Marti for the drilling of Alameda-2." source: 16 Feb 2023, ASX:MAY, Cuba, Block 9 PSC Update on Alameda 2 appraisal wellhttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02632149-3A612745?access_token=83ff96335c2d45a094df02a206a39ff4
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• So who was most correct? I think me. I am pretty happy about it actually, close enough (could still be correct, all components of the rig have not yet been delivered to the site).