Today's news on their Cuba Block 9 is a game changer for the country of Cuba. The Country needs as much oil as it can get to fill its 150,000 barrel a day refinery. It only produces half of that. The Venezuela Govt is talking of screwing the Cuban on supply.
This oil is onshore, not offshore. Martin 5 well hit 390 metres of gross oil. That's good in anyone's language.
Stickland is a sound oil man with a great track record.
This announcement should get great Cuban Government support.
What I'm excited about is there are 2 more news releases to come to update the resources and oil in place in the upper two sheets. The real potential of Block 9 won't be known until then.
There is oil on Block 9 and very good oil. The Montebo field is one of the oldest in the world, having started in 1850 or something and produced 6 million barrels of 60 API oil. (googled it).
Great work Stickland.
MEO Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
