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PV is just making it up - like FA used to do.
Jim, you may need to improve your reading comprehension! Sometimes you need to read between the lines.
Go and watch/listen again.
Guys any short stop is an opportunity to take.
Long and strong
But
88EE
It's in the latest presentation with the new Mininig Minister stating he's well aware of the problem and giving that to.eline for it to be fixed and the LP granted.
That should be at any time now within the next 20 working days, along with the other Newsflow expected near term.
Regards
I also would like to know the same, just listened to the presentation again and all that has been referenced is from October but 1 to 3 months so I think elaborating on dates is 20 days is a bit misleading??
Just to be clear and referring again to what's been officially stated.
Petro Matad DO NOT need local permission re: land access.
They are overriding any local permissions via the Special Designation LP, which has been cleared by MRPAM and has been stated by the Mining Minister, will be issued within the next 20 working days, on the timeline referenced.
A Special Designation doesnt require a change in law, although that's a seperate line that's progressing to circumvent future such issues for other companies also.
The land access issue originated with a change in law in 2017, with the GoM initially asking Petro Matad to effectively 'sort it out at a local level'.
That's been seen to be non productive and why we now have direct intervention by the Minister of Mines.
Mike Buck, whose in constant comms with all relevant departments / personnel expects it to e issued 'any day now' and within the 20 working days referenced- it could quite literally be tomorrow.
In the meantime we're well funded, have all permits & equipment in place for the upcoming Velociraptor drill and have imminant RNSs due on several other news fronts.
It's actually good to see some intraday consolidation and which will support a solid platform for the next pronounced push upwards on the above very near term news developments / expectations.
Regards
The ride back to 2p lol no thanks
I Can't see local governor being anti investment if he is letting Koreans build a large scale transport centre/system costing $35milllion .
MB needs to go and beg and agree to some demands with local governor.
Money makes the world go round in poor countries money will change anything .
The Koreans are building logistics and transport centre in Dornod province . To be ready by next spring.
Looks like stuff is happening in Dornod.
Maybe PM need to just meet locals demand . Can't see it being a huge demand.
Lambo talk of placing and now central government won't allow the land permit - you are so transparent in your comments and the reasons for your comments. Why don't you just buy in and enjoy the ride
The locals do not want matd drilling on their land, the government have never intervened before on local issues such as this, I don’t personally think matd will get the LP from central government, and if they do the cabinet will not be rushed into making a decision, very much doubt anything will happen in 2023, Mike is all talk and no delivery
Many thanks
MATD was at these levels (and lower) when there was no perceived "LP problem" and Heron production was scheduled to start in Q2 2022. Why should getting it cause a big re-rate now?
I think PM just needs a chance by the locals. Maybe build them a nice office at £200k and this LP problem should be solved.
Progressive-research.com :- their report 07.07.2021
"We have looked at the valuation of the operations through a standard
RENAV (Risked Exploration Net Asset Value) derived from discounted cash
flow. Using a flat Brent oil price of US55/bbl, we believe that the base
Heron development could be worth approximately 9.3 p/share. We have
assumed a 50% chance of the company being able to increase Heron’s
reserves up to the target level which would add a further 9.4 p/share to
the valuation. The risked exploration would then add a further 10.1
p/share to this value. This gives an overall RENAV of 28.7p/share.
Investors should view any valuation in the context of their own
assessments of the relevant risks.
phitchens@progressive-research.com "
What analyst said that?Hope they’re right
I feel like I need to copy and paste your posts slating matd for the last 12 months before you bought in lol, cheer up you say haha as I said what a whopper you are
The analyst consensus target price for shares in Petro Matad is 18.77p. That is 495.8% above the last closing price of 3.15p.
Cheer up.
You no longer bashing this share Hamm? I mean you spent all year saying what a crook Mike was and how it was all over for matd…. What a whopper you are lol
As a matter of fact I have added a bit more today. Difficult to buy. I had to make as small chunks as I could. All ending 1,2,3 etc.
Beautiful day,
Hey Hamm,bet you’re pleased you couldn’t sell those ten thousand shares a few days ago!By the way when you want to sell that many shares you should let the stock exchange know.We don’t want you to destabilise the market!
We look forward to you're 40 posts of rubbish today and everyday.
Strong start as expected. Lucky guys who have cash available to top up or get in before re rating.
The Bank of America has predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and a “successful” economic reopening by China, Reuters reports.
BofA has forecast that Brent prices--currently trading at $76.73--will average $100/bbl in 2023 thanks to Chinese oil demand recovery on a post-COVID reopening coupled with a drop in Russian supplies of about 1 million barrels per day (bpd). According to the investment bank, OPEC+ is likely to fully implement a 2 million bpd output cut in a bid to boost oil prices.
The forecast has come at a time when oil prices have been steadily declining due to fears that a weakening global economy would curb fuel demand. Last week, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. Further, people infected with Covid-19 but have only mild or no symptoms are now allowed to isolate at home instead of convalescing in centrally managed facilities.
“Our oil demand and price projections for 2023 rely heavily on robust China and India demand growth, so any Asia reopening delays could affect our expected price trajectory,” said the bank, adding that the path to a post-pandemic environment may not be easy “given the low levels of immunity in China.”
Last week, crude oil futures surrendered all gains for the year, posting their largest weekly losses in more than eight months, as restarts for key pipelines eased supply concerns coupled with ongoing worries about a global recession and weaker crude demand from China. Front-month Nymex crude for January delivery finished the week -11.2% lower to $71.02/bbl, extending its losing streak to six straight sessions, while February Brent crude closed -11% to $76.10/bbl, the biggest weekly percentage decline for both benchmarks since April.
The Charts looking very strong for MATD, as the price has confidently breached the minor resistance at 3.30p, with an intraday re-test and strong buying pressure exerted off that.
EMA9 crossing above the EMA20 and well spaced, with the next major resistance on the monthly timeframe at 9p.
That was the level reached upon the EL issuance and without funding in place, which may strongly point towards price trajectory, with full funding in place for both Heron & Velociraptor, a higher oil price and the various other very near term news pieces.
Thereafter, it's a clear run with the next major resistance point at 33p, which coincidentally reflects the current RENAV levels, albeit at the discounted $66bbl oil price (RENAV at the prevailing oil price would be significantly higher).
All looking very good for MATD from both a Fundamental & TA perspective, as the current Uptrend exerts itself.
Regards