Where are we ?

Well after a self imposed hiatus , good to see some positive news here at long last at what IMO was a poor operation to drill into the primary target. There are still questions that need answered from that..
The secondary MM seemed positive from the very first news flow and I personally had little doubt we would see a decent result there.

Flow rates here should stabilise at circa 300- 400 bbls a day IMO, and remember this is natural flow with no artificial lift ESP required at this stage.
Question will be will we throw 300k or so at the other 2 puka wells and work them over , they should not require tubing change out as that should be fine however I suspect they will need pump changeout..
If we get 3 wells flowing from the MM should be circa 700-900 bbls a day IMO..30% net to May...210- 300bbpd..@ 70 Brent..this is $14 -21 k per day potentially, which certainly underpins the current MC..

Action today was as expected and not a bad thing, someone big is clearly still wishing to leave and is using any positivity to sell into..they need to exit completely and until they do , we are not going to move much IMO..
Market should stabilise us now and hopefully trickle our SP up , especially if POO remains positive.

For me, the biggest thing here is the headline “ We are now a cash producing oil Producer” .... IMO we are now ( hopefully) actively looking at a dual listing , ( not only was our chief geo at the recent apex global in London, I also know that both our CEO and our directors were there as well on business at the same time)...
This headline now with Cuba and Beehive makes us an acutely easier entity to market to a potential new market..
I know this is a mixed emotion subject with some holders very uneasy or cautious about this, however I hope all shareholders see that we could not get possibly valued lower than what the ASX does, with the headline potential we have..

Cuban news on block 9..... we are all eagerly waiting for this...how the hell our we still hoping to drill in H2 with out a partnering and funding path announced ?
The last news from Cuba, was very interesting and completely lost by the ASX market as is everything, Cuba related.
The Santa Cruz oilfield produces a light API oil , much lighter than The heavy oil at Varadero..
It was discovered by Sherritt and Pebrocan some 12 years ago., then operated by them both in a JV.
Cupet, then rescinded their operating licences for reasons thst have not been disclosed at the field and paid over $ 100 million to both companies and took over operatorship of the field.
What we have been offered by Cupet as far as I can see, is a chance to be the well and reservoir ( base and subsurface) optimisation partner. If we can advise where and what needs to be done to raise production, we will receive income from the incremental increase in production over the current base rate.
I believe we do not need to fund any capex for these operations , as we are not the Operator of this field, Cupet are.
So we are a consultant in Santa Cruz and from what I can see, this is potentially a very attractive situation if we can increase the base production.
Figures are very hard to find on current production from the field however I would say with some confidence they are nowhere near their potential..
Cuba and Cupet showing a lot of confidence and trust with May here IMO, which must bode well as we become more entrenched in business there.

So we can expect a lot of positive news on the next few months IMO.

Cuba...multiple fronts...hopefully partnering and funding for drilling ! What do we see out of early subsurface analysis from the Santa Cruz field, do we see high potential of field production increase ?
Beehive... commencement of 3D and indicative early results hopefully stating good quality.... get Total and Santos back in the MAY investor mindset again as all seems to be forgetton..
Puka... flowrates , steady production and potential restarting of the puka 1 and 2 to increase..
Business strategy.... are we going to cross promote and drive our portfolio potential on a dual listing ? , if so there should be a raft of news and updates on this sooner then later..

I am gong to keep my posts , thoughts and views aligned with actual news release from the company and will not contribute as frequently as I did. I still read the Board most days....
My position remains the same, having neither sold nor added stock since my last disclosure.

Great news today....and good to see shareholders a little bit more positive..