Cuba Block 9 Valuation, page-3

for a bit of fun i'll give my take on how the market is valuing current deal.

MAY has $4 Million overheads per year

No Income

If Cuba Deal was signed - and some wells produced Total of 1600 barrels per day @ $80 a barrel

570K barrels per year @ $80 per barrel

570 x 25% cost oil = 455K barrels per year

May 12.5% 455K year

May's Share 57K barrels per year @ $80 per barrel = $4,560,000

Profit after overheads $560,000 = 12 times profit (12 years average lifespan of a wells) = 0.4 of a cent per share.
Share price is currently 4 times this at 1.7 cents.

I'm sure this is going to get ripped apart, please go ahead. All i'm trying to point out is our overheads will eat this deal up as MAY does not have any other income.

Just my debatable opinion.