Global Exposure comparison.., page-19

I wish for only peace and happiness and absolute prosperity to all

MAY has not delivered so far, in terms of Cuba..

They even recently been stating that their investors dont understand oil sector vs mining sector (or words to that effect)..
Who did they raise cash from ?
The same investors that apparently dont understand ?

The seismic interp for NZ project which failed needs to be questioned based on real events that have occurred.. would be nice to know if that has now been rectified..

If they donot succeed in farming out cuba, then the only light is the 20% freecarry for currently circa 100+mmbo in the nth australia project..
Still worth hanging in for..
(I personally see that project as better than the many multiple smaller cuban prospects)
I do have a question as to whether it actually is a freecarry at all ?
From what i recall (and if i have it right)..
If the farmin partners walk away at end of 3d or end of first drill then it all goes back to MAY without MAY having to reimburse a dime.. but this is most likely to occur only if the project is deemed to be not commercial, so in such a scenario possibly leaving MAY with not much..
However, if the project succeeds then the jv partners actually get back the amounts they freecarried MAY for, later on..
I havent seen such a deal being done often in the oil sector, but here and there i have seen such deals in mining (gold etc) sector..

Anyways.. i guess MAY will sort something out very soon, one way or another..
They will either successfully farmout cuba very soon, or be raising a bundle of cash

(*if i have stated anything factually incorrectly in any of the above, please feel free to correct me..)