For those interested. Just look at their previous time frames for mobilisation; on the 28/04/2022 ASX:MAY said the following: "it has been determined to be more economic to move the rig and commence drilling of Zapato-1" and "During the transfer of the drilling rig and camp to the new site for the drilling of Zapato-1 some essential maintenance and recertification work will need to be done" source: 28 Apr 2022, ASX:MAY, Quarterly Activities/Appendix 5B Cash Flow Report. Then later on the 13/05/2022 they said the following: "commencement of drilling operations are on schedule to commence during the last week of May 2022". source: 13 May 2022, ASX:MAY, Zapato-1 Exploration well on track to spud end of May. Then on the 23/05/2022 ASX:MAY announced: "The drilling of the Zapato-1 exploration well commenced (spudded) at 12:00 noon Saturday, Cuban time" source: 23 May 2022, ASX:MAY, Drilling of Zapato-1 exploration well commenced.
If they are as fast as they were with the Alameda to Zapato mobilisation then we can expect "The drilling rig and spread was released from its previous operation last Sunday" source: 25/05/2023, ASX:MAY, Cuba, Block 9 - Mobilisation Commenced, then you add the time for the process of "stacking" and "mobilisation" and "unpacking" which last time was 25days which means 25+21/05/2023 (last Sunday) = 15/06/2023. And then potentially give or take for the abandonment of Alameda-1.
MAY Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
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