At first glance, looks a pretty good deal.
Upfront US$7.5m, within a few months.
Contingency and productions payments on progress and potentially success.
Monetizes asset which a company of MAY's size would have found very difficult to fund, whilst retaining upside to potential production success.
And bankrolls the company's future in Cuba, which is about to unfold with the drilling of two wells targeting very big targets.
In a country thawing out slowly but surely from a cold war with the US, where we have first mover advantage.
We are now very well positioned in 2021.
I feel MAY is about to jump onto quite a few investor radars.
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Open | High | Low | Value | Volume |
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4 | 1239781 | 0.035 |
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Price($) | Vol. | No. |
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0.039 | 492324 | 5 |
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