Ann: Executive Chairman - Key Terms of Employment, page-8

Personally I think MAY is better bet than 88E. COS (chance of success) is slightly higher in 88E case but 32% COS that MAY has in Cuba prospect is on the high side in this kind of business. Although MAY's share is only 30% out of approximately 236 millions barrels of oil, it still equates to roughly about 70 million barrels which at todays prices is worth over four billion dollars. Of course, there are fees, taxes and royalties to be paid but MAY has only two billion shares in circulation compare to nearly (or more) nine billion 88E has. I may be optimist but they way things are going I see no reason for MAY not to outperform 88E.....big time on Cuba alone. And we still have Santa Cruz, also in Cuba and Beehive with adjacent prospects on top of Alameda and Zapato due to be drilled in June / July .