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The presentation is certainly an interesting one, albeit as many have commented, Mike Buck is a straight laced, to the point character - very factual, little charisma but the man to get the job done.
Firstly, we have a very promoising asset indeed in Heron and certainly a lot of positivity going forward from an opetational perspective, the more immediate issue being funding.
As he stated unequivocally, he's looking at options beyond a placing to protect shareholder value and specifically through a bank loan route and/or a partnership deal. To reiterate, he SPECIFICALLY stated that an equity issue wasnt the route they were looking at.
However, the bank loan would likely have to be undertaken through the Mongolian banks, which limits said routes to a loan but we should also consider the stronger situation PetroMatad are in now with a tangable asset in Heron and that the Govt. see the company as a Mongolian entity, who happen to be listed in the London market.
The CEO also mentioned certain informal discussion with PetroChina prior to Heron 1, which are now moving to a more formal basis, both from a logistical agreement perspective and the aforementioned Partnership options. The synergies are obvious, hence why many believe that such a Partnership agreement will be concluded.
Does that negate the possibility of a limited placing?
I believe that option may still be followed through as part of a larger deal incorporating a bank loan and to make up any shortfalls if required - it's not the preferred route or the one focused on, a point Mike Buck emphasises several times.
Of course, PetroChina would have their own strategies drawn up for the positive outcome that Heron 1 demonstrated, hence a fast track to conclusion of funding through that route.
From a petsonal perspective, I wouldn't mind the share price 'lulling' for a bit, as it would enable me to massively increase my own holding here and with what we can anticipatè for PetroMatad moving forward - we All agree on that!
However, I'm already in and certainly wont look to post a relentless, one sided perspective of the funding issue, to facillitate a re-entry into a stock previously exited from.
Let's actually listen to what Mike Buck is saying - in its entirety!
Captain - I don’t much like your “ one sided” discussion bias but fear a lot of traders think the same as you. Reality is this will not see a huge amount of action in the short term, I’m going to keep adding and averaging down. I do feel there is a bright future, just not in the next couple of weeks
Ok facts are simple, it's gonna be the most painful 2 to 8 month of matds history, we so close but it's that last tactical move or 2 to get to production without dilution or giving parts of company away,1. in herron or he wants 10 15mil so we hitting 1000 barrel a day okee and a exploration partner for elsewhere ..
We have 1 hopefully good well we need 4 5 around it to get money coming in 8 10 be better but 4 5 a start, you offer petro China a stake in herron discovery they drill the wells as part of deal we get if 50mbo great 25 mil they get 10 15 q 25 barrels too what ever and we start earing finanally and get funds to do raptor phoenix and hope they've learn there geography and we find a large pool at raptor and then we are truly truly cooking or I'll settle happily for Mongolian loan 15 mil petro China do us 6 well around herron 6 mil nice and ow look some left for raptor n phoneix.. hit Agen and we are to the ??. .. just the last 2 3 peices on chess piece and we are there but gonna be painful. Wudnt expect anything less but done right without dilution or giving away part of company or discovery and we are smoking)) 1 pound end 2020, take that all day)
Lots of if, buts and maybes CS, but current market cap of £25m means we’re valued at just a dollar a barrel on every expected barrel out of there and 25m is off a low recovery rate. I think Mike bought in big time at around 10p, so doubt he wants dilution, so hopefully Mongolian bank or farm in..... As I said at start, so many possibilities, but I do think we’re currently under valued. But some good points raised and welcome , whether your in or out
That was an interesting comment by Mike Buck and in the context of the company being viewed favourably by the Govt. and given oil production within Mongolia essentially controlled by the Chinese, for their own domestic market.
I have just looked at the presentation and I can see why some people think that it was uninspiring.However I think that Mick Buck is a very down to earth person and probably very cautious.Not every bodies cup of tea but much more preferable to a bull—-t artist. I must admit I don’t understand the drop of the share price this week,it seems unjustified.
Although I'm more than happy to be invested in this quality oil exploration/soon to be producer company,I thaught Mike Bucks presentation was less than impressive.Dull as ditch water and underplaying everything to a fault.Im not sure his time was well spent at this event.
OK h/b: we've heard (not hurt!) your opinion. We've been hearing that stuff on this board for weeks now. You obviously must think that contradicting what Mike Buck says publicly is worth the effort. Do you really want anybody on this board to take you seriously? Do yourself and everybody else on this board a favor and stop posting from your mental clinic. Somebody must be paying you very well for all this incredible crap.
The best way, as ever, is to rise above. There are a couple of options here; 1 he is paid to do this (in which case I don't have a huge problem with it, we all have to make money, and he is quite good at it) or 2 he is miserable and needs something to do in his basement between microwave meals.
Whichever is true the only way he "wins" is if it has any effect on your investment decision. Those who have done the due diligence know that this is a decent bet, not a sure fire winner for sure (nothing ever will be in that part of the world and when dealing with subsurface geology), but all things point away from hillbillys 1p party.