Picko99: Mixed feelings for me. I've been concerned about a...

Picko99: Mixed feelings for me. I've been concerned about a possible Beehive sale since Santos pulled out. I have always regarded Beehive as MAY's Jewel in the Crown but that said, once conditions precedent are met MAY will get $7.5m and if the drill in 2022 turns out to be a duster, we will all be lauding the sale. However, $7.5m doesn't last long in this game. It would easily be eaten up just by doing the year four 3D seismics on our two remaining permits bordering Beehive. In a success case of Beehive, they will drill a further well which will bring in another $2.5 so probably look at 2023 for that. Then the second $2.5m when a production licence is granted. The production payments will be years away and MAY needs to survive to collect. So, an awful lot depends now on Cuba drills. Essentially we've become a one trick pony for the time being. We need commercial success at Cuba drills so bring them on ! Cheers!