Thanks @VOGC for a prodigious analysis effort.
If I am understanding these estimates correctly the market is currently valuing MAY as having between 35 MMBO based on 48m net pay and 100 MMBO based on 137m net pay, (initial certification pre flow test). That is from Amistad alone. The SP currently values Alameda, Marti and Zapato at zero.
If I have this right, a possible appraisal well into unit 1 of the Amistad upper sheet and then possible production wells into the upper sheet are the initial price catalysts from where we are now. Everything else in block 9 is blue sky in terms of SP.
I think I might keep my sentiment at buy for now.
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