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Mattpr1
2 negative posts from you in short space of time ... why bother posting your opinion if you're not invested and think you are not likely to invest ? Seems several posters on here have same problem as you do ... Can you explain why you actually do this ?? Boredom perhaps ?? You're not well ??
Pilsbury, then we have something in common. I know Heron is producing but not enough to support PM, hence last fund raise of 6M$. It was a shame last well was water, could of been a turning point. If you get the agreements for the further exploration you will be needing further funding for more wells, unless you hit a major commercial well, then thats limited by the number of trucks used and storage as the terminal wont be finished till 2024. Lots of unanswered questions. I do like Gk posts with reasons, rather than rockets and multi bags bags of money.
GK did mention the "special purpose land" i believe BEM had a similar problem?? with the deer herders and grazing while they were sitting on a half a billion iron resource in Sweden and thats been going on for years, something to do with the green party.
I will leave this conversation alone now
Gkhan dont dare burst any bubbles.. MG will do as they are told! Like they have the last few years.. dont worry, 7p.. im gone, thats enough owl turds for me. Bottom line is.. 2 decent rampy days in 2 weeks, then a drift. Traders making money while you lot dream
Hi Corpse. As an accountant (retired age 53yrs with good pension and pay off) I can read a balance sheet. What you say is correct although I'm not sure why you think PM has not found any oil? Bad Profit is irrelevant it has no shares.
GKahn: Could there possibly be a commercially more attractive alternative?
Pillsbury, can you read a balance sheet, it's under MATD fundamentals on this page.
You have the Profit and Loss account, then Balance Sheet under Retained Earnings is the loss from years of losses. Shares in issue 154.06 million less your losses make the company worth 20.62 million. It is basic stuff for investors.
Hamm - which broker do you use to buy your shares?
There is another relevant factor which should be considered, namely MG’s 40% initial production share and 5% royalty, under the PSC terms. Given the political sensitivities would MG want to see its share of crude oil produced exported to a refinery in NW China for the next three years until its refinery comes onstream?
Couldn't agree more Hamm. They would be better off chucking it in a savings account. At least earn a few pence instead of biting off their fingernails here.
Guys who believe that MATD production is related to the refinery should sell and come back when refinery is getting ready. No point to be here honestly!
See you in a couple of years or so.
Bye bye,
Hope they are gone now.
Back to believers. Time to add as many as you can while it is still quiet. Mega rerate asa mega RNSs rolling.
Guys,
I said MONTHS ago this will drag until refinery complete or near to. Makes sense to everyone but a MATD shareholder. Nobody else apart from us and some tanker drivers are in a rush.. no matter how many 'hopeful' 'must be' 'surely's'' are thrown at it.
Hi Corpse. Have you posted to the right BB as your chat holds no relationship to Petro Matad. We have struck oil in the Heron Well and the company has no accumulated loss except they have had to raise funding through additional share issues. Best you disregard BP he has no shares and is irrelevant to this BB.
Absolutely Master and Rookie. The local authorities will be in no hurry to cooperate with the registration of the area and sign the required contracts for management of the special purpose land. While described by PM as follow-up formalities, this could drag on and on unfortunately.
It looks slim that PM will do any production. End of july all paperwork should've been done and dusted.
Local governor giving excellent protocol to the Russian resources minister.
I think we are being played here. Why wait months on end for cabinet only to go back to the local government.
I think the MG is playing a blinder here, blaming the holdup on the local while are quite please with the hold up until their refinery is up and running, or to delay for as long as possible, at the same time appear to be doing everything they can to get it approved. Tut tut tut.
BP, Some talk of excellent returns and medium term, other posters Divi,s by the end of 2024.
To issue dividends the retained earnings which are a accumulated loss of £133.44 million will need to be cleared and additional profit added say £20 million which needs to be a profit not revenue of £153 million over the next 16 months.
If that could be accomplished i would be the first to add as the transformation would be amazing.
There is the prospect of share price increase IF they have the funding for multiple wells and reasonable flow rates any thing over 1k boe per day and sales contracts in place and easy transportation to where ever.
Trouble with oil and gas one in three wells will only find hydrocarbons and one in three wells will only be commercial.
I am afraid that is reality on the ground, prospects here possible long term but first you have to find the oil and gas.
Wishing all luck with investment.
BTW - I think I actually said no SALES rather than no PRODUCTION, but there's not much point getting oil out of the ground if you don't sell it.
//Someone said not to long ago there'd be no production this year, I really hope that they are wrong.//
That was me & I too hope I am wrong! (But as I have no shares I don't really care.)
Someone said not to long ago there'd be no production this year, I really hope that they are wrong. Time waits for no one. GLA
The sp will boost and it will take a bit of time thats a fact. But show me an investment that is better placed to give excellent returns in the medium term than this one at this current time
GLA
The movement doesn't relate to you as you have no shares.
//when this starts moving north//
IF not WHEN
Whatever the delay if any in releasing the RNS the drivel and waffle here has increased 3 times as much . The best is yet to come and I really would like to see if some will calm down when this starts moving north
The Sunflower doesn't relate to you as you have no shares.
Your sunflower seeds will probably produce more oil this year than PetroMatad does!