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MB won’t be going anywhere. I have no idea if he’s doing a good job or not because the communication is lacking.
And those saying anyone having a moan should sell up, that’s such a weak argument. I’m very much 50/50 on whether this will work out now… I think there is corruption but certainly something doesn’t smell quite right. But if I sold out and then it did come good, I’d be jumping off the nearest bridge.
No, I’ve placed my bet and just got to hope now that this comes good.
TheCondomMan: “Moron, i have 9m+ shares.”
Oh dear. Nothing more cringeworthy than someone telling everyone else they have a gazillion shares.
If l had a cushy job and l wanted to keep it living abroad, l would employ a local moron with pigeon English to promote my standing as long as possible.
Yes it is a struggle and the current share price recognizes that and that is why the share price is what the share price is. Do i like it of course i do not like it. I was really hoping to have top slice a chunk of my holding off by now. And yes i am sitting on a loss at the moment. I should say it is an UNREALIZED loss that is the key element. Unless you believe that MB is blatantly lying to us about being given the Special Permit ( and we have separately confirmed) then this will happen. If we had not rubbed up the local governor all those years ago this might have gone more smoothly but he cannot or should not be able to scupper this now. I really think patience is the name of the game. Personally i back in after selling on the last RNS and now rather wished o had waited a few days longer. But c'est la vie. You win some and lose some but in the end i believe i will be the winner.
Moron, i have 9m+ shares.
i went into this stock, eyes wide open... warts and all. What i dont do, is us whine, whinge and moan simply because the share isnt going the way that is desired. If i was not confident of MATD going forward, i'd start dumping. What i dont do is throw tantrums, stamping my feet.... demanding the ceo to leave, when i fully know it'd be as effective as me wanting to punch trump in the goolies.
"Since it listed on AIM ' I meant to write....
@master82
"But with the attitude of our CEO it's a struggle and the market says it all"
Well the market valued MATD at £2 a share back in 2011 without an exploitation licence. How do you explain that ? Or 35 to 40p as recently as early 2017. Yes, there's been some dilution, but not enough to account for a share price which is one tenth of what it was in 2017.
The fact is that all the price action you have seen to date with MATD since it has been driven by manipulation of sentiment. That's what happens when you have a company which isn't making any revenue, and its shareholders hang on every snippet of news, and every RNS as though their lives depend on it. Meanwhile the short terms traders and the MMs ( who trade their own accounts as well ) get rich through simply trading the price volatility - which in the case of MATD is extreme. That's essentially what they care about - price volatility, not the future promise of this that or the other. And any RNS is great, as it creates just the kind of volatility which makes them instant profits.
The fact is that if you are a short term trader who had accumulated on the constant falls to the well established support levels, and if you had then unloaded them on all the numerous sucker rally price spikes, then you would already have made serious money without needing to even care whether MATD rerates to the upside if and when it finally extracts oil.
Why has he not been able to sign contracts with DQE or PC facilities
I am not sure whether he could sign any agreement with anyone regarding this oil.
Firstly we had no permit until recently from the MG but still we are waiting for the final part of that to be enacted. So we sign an agreement for something we have no rights to as yet. A great way to rub up your hosts back good and proper.
So let us say he does sign the agreement what start date does he have. The key ingredient in any agreement is when it starts and from that start date you get renewal dates etc.
Other agreements ie an MOU may well have been signed or agreed to but again no start date can be made available.
“How is saying replace the CEO crying like a little teenager.
It's a good proposal. Our Problem is Our CEO.”
Totally agree Master.
More and more on here agree with you now also Master..
Ignore TheCondorMan - remember, as we all know - the rampers (like TheCondorMan no doubt) don’t like the LTH’s from having an opinion…
I've never said show aggression. I've always said offer them a deal because that is what the locals want.
It's a poor country and bit of help would go long way .
I said take the government to court as they should not be giving PSC on land they don't have control over.
How is saying replace the CEO crying like a little teenager.
It's a good proposal. Our Problem is Our CEO.
"He has had years .
If you don't see the real problem then we are all blind.
MB is our problem.."
and yet you've held on like an abused spouse unable to let go, even though you know there will be more abuse down the line. Blind isnt the only word.... Foolish as well. You have no power to remove MB, wail as much as you want... so what other option ? remain blind and foolish.... or learn from it.... dump and buy something that wont give the proverbial investment piles.
You can moan and whinge all you like master, MB isnt going anywhere. You've turned into a teenager yelling at his parents saying "I hate you.." ... ala harry enfield. You moan and cry foul all you want... you are just pi555ing in the wind. You need to stop your tantrums and man up. Dump the stock or grit your teeth, stiff upper lip and all that... and march on. Crying like jilted lover isnt going to do an iota of difference..
"He should have gone to resolve the situation himself and not let his pride get in the way.
Different cultures have different ways of dealing with situations."
eh ? you were the one who wanted MB to show some aggression towards the Mongolians... backbone/spine.. remember ?
Master, I fully understand your frustration.
MB is in Mongolia at the moment and he is there for a reason.
Let's see what he can do now. We still have more than 2 month to sort out LP.
I don't believe changing CEO at the moment would be a smart move.
MB should finish what he has started before hand it over to the next person.
I want PM to succeed more than anyone. But with the attitude of our CEO it's a struggle and the market says it all..no confidence in MB
IMV the problem is next door. Petro China want our oil. They see our discovery as their oil. They've got the locals wrapped around their fingers and even the central government need to tread a tightrope with them. Quite simply they are hoping to squeeze us out by delaying tactics. It may well be a way of getting their hands on our block cheaply. The longer they can squeeze us the lower the eventual offer we accept may be. I hope I'm wrong but when formalities start taking longer than the special license did you have to question why.
And how is Mb trying his best when he is not even in the country.
What a joke.
Check every single interview and he is always in Singapore. Rarely he is Mongolia.
If there was a problem at local government then PC would be shutdown . Real problem is MB . He insulted the governor by taking him to court and lost the case .
MB was wrong to do that as he had no legs to stand on.
He should have gone to resolve the situation himself and not let his pride get in the way.
Different cultures have different ways of dealing with situations.
He could've sorted this problem very earlier on . He will only face more problems along the way if he remains.
Better to strat fresh with new CEO and new beginning.
650 posts in since I looked .
Bought the last tranche back for my 3.6p target of last 12 days 1.30 pm , out playing in sq after Tommys.
Wos, ibiza are absolutely right.
Well said guys.
MB is trying his best in Mongolia right now and he will definitely deliver.
We get there guys.
I am not selling any shares.
Sit tight, our turn will come.
I will not sell. This is the perfect time to change CEO as he has failed miserably and we need someone who can take it to production level and fast. Not make excuses.
Why has he not been able to sign contracts with DQE or PC facilities .
He has had years .
If you don't see the real problem then we are all blind.
MB is our problem..
He can not communicate with the shareholders nevermind the ministers. He is not even in the country to sort the biggest issue his company is facing. How irresponsible.
And do not tell me to sell. I probably have lot more shares than lot of people here.
If you feel that strongly about MB and situation that Matad is in then cut your loses and get the hell out of here before the bottom falls out as i am certain changing CEO right at this time would see the bottom fall out of this share . There are times to change CEO's and times not to change CEO's this is not the time (IMO) to be changing CEO he is clearly now in communication directly with the top people in government and yes in history he burnt his boat with the locals but since then others have tried the same thing that we did. Once i can understand someone got the wrong winks from local governor but two issues as indicate by recent court case indicate someone playing both side against the middle or trying to.
I am not saying do not change, i am saying this is not the time. If nothing has happened by end of September i will probably be in the same boat as you and you can say i told you so. At the moment i am prepared to give benefit of the doubt.
Mr Mike Buck has navigate company thru COVID time, he have built SOLID relationships with Central Govt & all main agencies.
He have manage to get EL & Cabinet Special Certification Approval with now just "formalities" which is signing if Certification by local govt (remember they cannot block this).
He have set up Renewable JV with well connected partner and first revenue expected shortly. Remember Mongolia have one of global BIGGEST potential for this with export expected to one of BUGGEST energy consumer China. You understand what this mean for company development.
Also NEW BLOCKS next to PROVEN & PRODUCING field.
I unserstand your upset mr Master and do not say to put you down sir. Just to look at why I do not share opinion to fire Mr Buck now.
I think lot of DERAMPER try to spread doom picture but with all I have just mention & good cash position I see Petro Matad in perfect position to grow into major regional ENERGY COMPANY.
Mr Buck have done a LOT of thing right to put company in such STRONG position for this now.
Keep focus on investment and not price today sir 💰💰💰
I agree that there's lots to critisize and complain about re PM/MB. However, there is a lot of potential which may possibly and hopefully be unleashed - who cares when!
That leaves every investor to decide whether they want to "wait and see" or minimize their investment risk. Moaning and groaning is simply not getting us anywhere. If anybody can change the course of "PM's development" in the interest of us investors please be my guest and do so. Otherwiese I suggest you consider your options as an investor carefully and then take a decision.
I for one am here to make money - not to be right.
I know it's hard to digest the facts about MB. But he has lumbered us in to the current situation. If it wasn't for his stupidity and lack of negotiating power we would be making millions by now.
I've been a lth and,I can see where the problem lies.