Ann: Farmout agreement signed for Cuba Block 9 PSC, page-20

My take...
RZ progressed with the wrong partner and as a result of the absolute farce that ensued ...was shown the door.
Company advised at time of the Mickey Mouse Chinese JV Ann, they were also in talks with other potential partners.
Decisions of that magnitude which end up as the train wreck that their Chinese foray went, can only lay at the feet of the person running the show and that was RZ.
What was also apparent, is the differing terms of the 2, . the Chinese one was pretty poor with no cash receipt and far lower equity kept... bad business decision made to go with the Chinese ... absolutely IMO..
Sonangol had turnover of 18 billion USD in 2018...Analysts expect with higher oil prices , that to have risen to over 20 billion USD last year.
They have offices in Luanda ( head office new 100 mm build) , London, USA, Middle East and Far East,
They are involved in upstream and downstream operations globally..
Mickey mouse they are not..

3 company making major impact drills coming here in next 12-15 months.( Beehive is a given IMO)
AIM flotation is the name of the game IMO with the MEL push.
AP spelled it out clearly ... Company wants to list on AIM but after research and advise need a larger vehicle to do so..
TS also lurks as the joker in the pack , which could turn into the ace at any time..

I am now looking very closely into considering to take a new position back here.
Would like to see some market interest and I think when business gets back to usual in a weeks time, we will see some positive coverage and reports on the Cuban announcement , which was released when market was virtually shut down for the hols..

Watch this space..