Cuba Block 9 Valuation, page-20

the cuba block 9 farmout was apathetic deal for MAY shareholders.

crown jewel of MAY and there was no upfront cash from the chinese. we get our deposit back and maybe some back cost years down the track.
the most important thing in the announcement is Profit Oil but no mention of how it is calculated. again, this could be years and years down the track. I know for sure Chinese owned state enterprises are not cost efficient since their main objective is not profit.

IO at santa cruz, if we do get any cash, I am pretty sure the Board will increase their salary, bonus, management fee. they have proven themselves to be very apt at taking care of their mates on the Board.
After reading the Annual report, I still put a value of 0.0001 on tassie shoal. If the board can not get $1 from the chinese for block 9, there's no hope here.

NZ, 100K, what a joke, let's move on.

beehive is a 2020 play maybe. can put money to better use in this timeframe.

Management has proven inept on our most valuable asset. the last CR will be the first of many more to show their lack of shareholders' interest. there will be another CR in April/May 2019. Deposit back will pay the loan due Jan 2019. Exploration costs may stop or reduce, but directors costs/fees will increase.

time to slap a sell on this stock, it was a high risk, high reward play from Dec 2017. looks like it was just all risk. proof is first page of the farm out ann. "AGMI considering using the April 2018 drilling slot offered". MAYbe get a proof reader on the Board. Can not continue with this professionalism and expect the SP to increase.

the market has spoken and the stock price lower proves directors inabilities, not the assets MAY has.