Sherritt International Corp T.S

Can someone remind me

[autofocus111]

What happened to Sherritt's oil operations? They exited their production/revenue sharing arrangement as I recall. So it's Cuba that is now the operator and collecting all the revenues and profits from those depleted wells?

[YourFriendo]

They handed over the leases to the Cubans as per the agreements. The Cubans use the product internally and do not sell it in the open market, so there are no profits. This is why there is such a large receivable to Sherritt.

[autofocus111]

I dd not know the oil produced was for internal use only thanks. One things for sure, Sherritt has impeccably bad timing.

[Maxmoe]

The good news is after decades of trying, S figured out it was irresponsible to shareholders to spend millions drilling for oil/gas in Cuba because they would never be able to sell the production outside Cuba because of acute shortage, or get world benchmarked prices within Cuba. They even tried using gas to generate electricity with small scale plants. I toured one 30ish years ago in veradaro