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2019 they struck oil at Heron.
4 years ago.
If they strike at Velociraptor I'd sell up, take the money and get out of here as fast as you can.
Thornogson - fair comments. But here we are drilling to find oil elsewhere, when we don't even have the LP for the oil we have already found!
70% down what a joke
I don't think he knows when the Land Permit will come.
He's said that he's very close to Government officials, that they understand, that they've told him it's imminent.
And yet it hasn't come.
I don't think he thinks he can rely on what they tell him.
He's got permission, equipment and now the funds to go after the Velociraptor trend.
Once the SP settles it'll be as good a time as any to get in before the Velociraptor run up.
Still Frontier oil exploration mind.
Upside bonus?
The Heron Land Permit lands. That's as good as guaranteed oil income as you'll find on AIM I think.
Guys please, could you put your thought fairly (no rubbish not now) that if Petrovis is putting 25% for placing then we need to sell quick smart of 100.000.000 shares to clear the situation?
then MATD would have $10m cash to go ahead?
Guys please, could you put your thought fairly (no rubbish not now) that if Petrovis is putting 25% for placing then we need to sell quick smart of 100.000.000 shares to clear the situation?
then MATD would have $10m cash to go ahead?
Now we all know MB is a liar. He was asked in the interview, and he clearly said there no need for fundraising.
He needs to go . He has done jack all in the past 4 years.
Looks like we all got shafted badly
Bluechipz.....exactly, petrovis know what's going on behind the scenes and they are prepared to throw $1 million into the coffers if that isn't a vote of confidence i don't know what is
Given the massive discount my reading is that resolution of the Heron land-use permit is certainly not imminent and may never be granted. This fund raise is all about the risk / reward for the first Velociraptor exploration well. At 2½ p hopefully a good bet.
It is substantial. I don't think / hope they wouldn't be doing that unless they knew this was going to go up.
Jay - they own 21%+ of the company. So if they don't want to be diluted they kind of have no choice.
Petrovis is buying $1mil in shares, 25% of the total amount intended to raise. thats pretty substantial right?
Makes more sense now!
petrovis is buying just 1m shares and mb is buying 1 m shares!
Thornogson - so does it not concern you that the LP looks a distant prospect right now? Otherwise, why not wait to do the raise then, and (to answer jay's question) avoid such dilution?
The fund raise finishes on Friday 10th, and then Monday 13th a little red dot appears at 7am.
Theres a lot of money to be made raising pre-LP, please feel free to correct me if I'm wrong.
Bet the person who bought the 1,000,000 shares at 4.something yesterday feels just a litle bit sick in his mouth now
I think a lot of their plans are predicated on getting Heron on-stream, producing and then selling oil to raise funds.
Without the Land Permit that's just not possible.
This is oil exploration on AIM. There's not shock here I'm afraid.
The point is that MB was clearly communicating to shareholders not to worry about fundraises in the near term. That is not February. He has knowingly or unknowingly misled investors.
well that was a kick in the nuts didn't see that one coming, so we've gone from having 6 mill in the bank and being comfortable to needing another 4 mill in a few months. Perhaps they have sorted the deal out with dqe and realised that they need most of the 6 mill to plough into the development of heron.
now we should enjoy the fall then!
Thornogson - it was actually less than 2 months ago on 6th December!
Just had a quick listen again… go to 30mins. “We have plenty of money for Heron, for Velociraptor 1 and to make a start on 2, and renewables work!”
https://m.youtube.com/watch?v=NO6lIYruWDM
Hamm you should have read your own posts.
He said 'Comfortable.... for now' 3 months ago.
Learn to read the signs that are laid before you.
'.... for now.' Clearly means we'll need money at some point.
He can't afford to wait for the Land Permit, he can't trust what the Mongolian Government tell him, he's duty bound to try to get some drilling activity going this year and that's what he's done.
He's done his job.
No drilling in 2023 and the company might have folded.
I hate to say I told you so (not really)!
Bit sooner & a bit worse than even I expected Go on Dozy - bad mouth me again!
UWOS - MB clearly said in the presentation we were fully funded, that included Velociraptor and the renewable nonsense. He was specifically asked about it at the end and he was banging on about how we have “6 million bucks in the bank” and are all good.
Silly me, I bought the lies. I still hope it comes good but it’s highly concerning there’s still no LP and they felt they couldn’t wait, which tells me they aren’t confident it will be coming anytime soon.
The nonsense you are spouting just gets worse and worse.
Where is Master82 with his equally as nonsense “this’ll be 7/8p next week!”