This will NOT be classified as exploration There is a oil in place and it has been declared discovered 10 years ago.
This will be appraisal drilling very quickly to be followed by development drilling..
Virtually all Infrastructure is all in place and close by.....
Remember the numbers ....in the lower sheet play ONLY. 8 billion barrels OIP, with 400 million barrels prospective resources ..
2 More reservoir plays to come in yet and numbers being worked, we should hear in Q4.
$ 6 a barrel up to down stream..
Cuba has to currently import 60 % of its oil..
This is a Company maker and a country changer !
MEO Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held