MAY 4.35% 2.2¢ melbana energy limited

Ann: Investor Webinar, page-531

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    justinmetals,

    The upper sheet is what Cuba needs with its energy requirements at this point, being self sustaining will help them reduce their dependence on imports for energy generation.

    If we get lighter oil in the lower sheet then an export opportunity arises which will provide foreign exchange into the Cuban economy. This in turn improves probable payment terms with USD denominated oil prices.

    I'm definitely comfortable with the results so far as much of the risk has diminished.
 
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