MAY have clearly stated,
1. they are moving from finding oil, then selling the discovery, to oil sales,
2. future plans to actually pay a dividend,
3. have mentioned several times they do NOT plan to conduct a capital raising,
4. plans to obtain more than ONE drilling rig,
5. forward planning, with an aim to have a Company valuation of 1 Billion, by the end of 2024, and
6. have enough oil flowing and trucked to the Cuban Port, to fill and sell a tanker around the end of 2024.
For those that have followed MAY for several years, this adds up.
A pipeline and the cost of repair or replace, is not on the table or needed for 2024.
SH have also seen the SP move on little news either way. Considering the above, the facts are close to once we have a signed
oil sale contract, the SP will move up past the high of about two years ago, my GUESS the high side of 20 - 30 cents.
The facts we have at hand have not been enough to raise the SP, however what is needed could be completed together within a few weeks. We don't need the oil in the holding tanks, we just need to prove to SH and one oil company, that the oil can be brought to the surface, in the right volumes and the stated API.
I thought we had made it two years ago, then May 24 would be it, so I can only hope the next few weeks/months we be very very good times. Either way we are slowly moving towards the end of 2024, when 30 cents, should be the SP. EOTFY, who cares, most of us earn $ and pay too much tax!
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