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The current situation caused by the C-Virus should make us all concerned and worried. And it doesn't look good - for anything or anyone. I therefore believe that "Fridge Magnets" are currently the least alarming issues. ATB
The market has indeed somewhat neglected MATD for some time but that doesn't negate the fundamentals in place, that position it to be a stellar riser once certain catalysts are triggered.
If we all went after more 'popular' stocks, much of the potential upside may already have been gleaned by earlier investors, who perhaps took positions when such stocks were also somewhat 'neglected'.
Mike Buck's an experienced individual and certainly has my support heading the company and pushing it through the various stages towards production & growing the company - if he didn't, I wouldn't be invested.
There's no absolute guarantee of the Explotation License by the end of March (or we'd all put every last penny into MATD stock) but that's the timeline given, so Buy or not accordingly.
What is reassuring here is that we already have a legitimate Oil find and will eventually move to commercialisation of it.
petertee - I am happy for you. Once upon a time I also had the best opinion of him. Until it became clear how often and easily his words diverged from deeds which led the company into such a deep ass. And now even obtaining a license and getting out of this ass will seem to be his greatest achievement. And this is in a situation where all his previous conversations were not about millions but billions of barrels.
We found a test flow rate of over 800 barrels a day at Heron-1, a very, very pleasant surprise. We assess that there's probably about 160 million barrels in place, and the question is how much of that is recoverable. Petro China, our neighbours across the boundary of the block achieve around 15%, which would give us 25 millon barrels recoverable, and we would like to think with modern technology we can do better than that," Mike Buck explained. With a General Election due to happen in Mongolia in the third quarter of 2020, the race is on to get Exploitation and other required licences in place before the drilling season begins in June.
Is more than strange. On the one hand there is a big oil in the country and it dreams of its own oil industry. Moreover, one of its new fields has been discovered not by a foreign company, but by a national one which is no longer run by some local swindler but by one of the authoritative oil and gas geologist from Britain and who is completely confident in the great future of the company. But on the other hand and despite all these seams to be positive facts the company's position on the market remains just awful. Which means that the market, unlike many of us, does not believe a single word of our CEO. And perceives him like as the same ordinary executives as the majority of companies' executives are on the AIM market today and the main purpose of which is not an outstanding achievement but a comfortable and as long as possible stay in their posts. And this I think the true reason for the miserable position of PM on the market today. And if Mike and his team will not be able to achieve something much more serious than resolving trivial issues with local authorities or acquiring licenses from the central government then the worst to come. And further support of such a company, at least for me personally, will be tantamount to absolute stupidity.
2.154M volume showing on lse and a fairly significant drop in the price, against a backdrop of some turmoil in the wider markets.
A few interesting points bought up, including that of a limited placing. I think we can generally accept that 'may' be on the cards in some form, Mike Buck already stating that it 'may' make up part of the limited financing needed to progress operations until PetroMatad are cash generative through Heron etc.
It remains to be seen what price that would be at, if indeed it is required and how much of the complete funding it would make up - the potential Partnership is also on the cards, again stated by Mike Buck, hence we can't necessarily acknowledge one whilst completely dismissing the other, imo, albeit we'll all assess yje likelihoods of each scenario playing out.
Either way, any funding requirements would be relatively limited and open up the way to progress operations and hence provide the platform for share price appreciation going forward - in other words, it'll be a huge positive for the Company overall.
The Exploitation License is the bigger factor, imo, as the Heron1 asset should make any funding fairly straightforward in the context of such things.
It'll be a huge catalyst for the share price and indeed, has strong underlying support from thr Mongolian Govt and works into the wider aims towards greater reliance on domestic production.
This stock is somewhat unloved but has huge potential locked into it and awaiting the Exploitation License to catalyse the major build up of the share price - we've been told it should be with us by the end of Q1 2020, so let's see how that plays out and within the usual caveats for Aim stocks.
One thing we have noted, is that the share price here moves on relatively little volume, hence todays drop although disappointing, can also be reversed in a blink also and as we saw the orevious 29% rise on the day.
Another shakedown taking place. This time next week we will be back at the same levels. Why do you think the buys are far larger than the majority of sells. I wont start worrying until the next RNS if it's negative. While there's no news we have to assume the wheels are turning to get the licence sorted. Patience people.