Cuba Block 9 Valuation, page-13

Hi Matyd..

I cannot confirm who the drilling contractor is for Sherritt just now,,, I have an idea but that’s all it is..

however the well they are currently drilling is a hugely different beast to our 3 planned ones.

They are actually drilling from onshore and going highly deviated to a targeted offshore reservoir.

I do not think many people here are aware of that, this is a very complex well they are drilling , it is long, it is highly deviated and it has a high geological hole condition risk   As seen by their first attempt...

They obviously weighed the costs up and found it to be cheaper drilling from an onshore pad location rather than to use an offshore jack up rig and go more vertical...although that now may be the wrong decision.

To tell you the truth , I have never seen to much of anything in comparing Sheritts drill to any of ours in block 9  due to completely different targets and directional designs. I think it’s seen as more of a geo political and geographic trigger event to get over to the ASX that foreign company’s are actually drilling in Cuba,..

Weak day today, I have been buying again last few days and will continue to do so sub 1.7

https://www.ogj.com/articles/2018/08/sherritt-resumes-block-10-drilling-in-cuba.html