Quote Originally Posted by Joshuatree View Post
Why on earth is the mkt just not believing this JB? S/P still bouncing along the bottom?
MAY hasn't been good with timelines ..AP does state export production planned later this year ... market ho-hum ... think MAY has to prove upto the market the commercialization plan and see how it will work with CUBA ... Insto/Funds is happy to sit on their hands ...also MAY is waiting on JVP payments from SNGL .. would be great to see those paid

I know if Alameda discovery was in a Western nation we would have a market value closer to a Billion ... we have just such a LARGE risked valuation in place ..

It's taken just so long from initial discovery 2yrs+ ago to now final appraisal of many of these traps ... today we have the update showing a major larger OIP in the 1B structure .. to get that contingent resource to reserves were the market will wake up Biggly prob late to early next year..

End of the day MAY are holding 30% share in a GIANT OIL DISCOVERY ..IMHO later next year if we haven't been taken over we could be looking at 500+ Mmbbls 2P reserves in Export Quality oil 17-30Api..

One of the largest recent discoveries is ExxonMobil Guyana discovery with 730 million barrels of 2P reserves