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We could see an interview this week to coincide with Heron-1 work over dates and DQE deals.
Those spouting fund raise really clutching at straws just to get back in lower. That is always their ace card they use when nothing else works.
We got enough cash till July 2024. We got around $9m - $10m in bank to get Heron-1, 2, 3 and 4 online pretty quickly. May be more wells. They only cost $1.2m per well approx.
600 bopd @ $70 / barrel $15.3m annual revenue from one well.
Trucking cost to PC process facility only $8/barrel for onward export to HoHut oil refinery across the Chinese border.
Project above for 4 wells initially. Then project above for 20 wells from Heron-1 within next 12 months via DQE fast track deal.
I do not believe that this talker and idler who became CEO for a carefree life, by robbing gullible investors will start extract an oil this year. Why does he need to work and do so, if he can live for his own pleasure without even depressing himself by obligations to stay and work in his Mongolian office, and not live in Singapore or travel? And the drilling of wells for him is more like gambling, and not a painstaking business that requires serious mental and physical effort. And the LP, which was finally issued, was not his merit but rather the result of investors who began bombard all of governmental and other bodies, both in Mongolia and in the UK. What kind of respect for such a CEO can we talk about if he has already reached the point that even began to hold AGM not in London. Perfectly knowing what extremely unpleasant questions he would have to face and be forced to answer. Therefore, I personally think that this slacker will definitely find some new reason to postpone oil production to next year, and then till the commissioning of the refinery.
Stalling till refinery closer.
//B/p: don't be surprised if you spot yourself amongst those flying pigs!//
OOOOOOH! Major burn there Ojay. PMSL
B/p: don't be surprised if you spot yourself amongst those flying pigs!
Needs to get the next bit of hopefully good news out otherwise the SP will drift.
He knows Heron needs to get on stream asap.....I hope he's working his nuts off as we speak to get this up and running as time is of the essence.
I hope Mr WOS is not shopping AGAIN... I offer that until this s/p gets past 7p, Mr WOS needs to curb his shopping trips with Mrs WOS to buy 'shoe' !
(or buy one shoe per shopping trip, instead of two.. ie when he say he go shopping with Mrs WOS to buy 'shoe' he should literally mean this at anywhere around this current s/p imho)
//We will be producing in 3-4 weeks max and at $1mill plus revenue per month//
I'll keep a watch for the flying pigs! LOL
The going concern comment was before the LP was granted.
We will be producing in 3-4 weks max and at $1mill plus revenue per month
The going concern comment is standard practice in accounting reporting for each financial year.
Am an accountant fyi
//BP. My calculation is simple and conservative.//
It's guesswork!
“If MATD have the cash for Heron plus the additional drills why say "sufficient working capital to operate beyond mid 2024 as a going concern", why not just say sufficient working capital to operate beyond mid 2024.”
Companies typically only give financial forecasts 12 months out.
I miss WOS, who gave him the day off 😀
Because that comment was made before LP was granted!!!
If MATD have the cash for Heron plus the additional drills why say "sufficient working capital to operate beyond mid 2024 as a going concern", why not just say sufficient working capital to operate beyond mid 2024.
Caveat emptor !!!!!
BP. My calculation is simple and conservative. 1 Well should produce at least 500bbl per day. at 70$ per bbl, Do the maths yourself.
BS - you seem to know how much oil PM will be selling, to whom & at what profit. Please tell MB so he can inform his shareholders!
Everyone seems to forget that once the first Heron well is pumping oil, we will be getting at least 1m USD per month in revenue. That amount should double for each additional well. Who needs loans or share issues anyway?
Re cash debate, do we need cash near term - No!
Why not put this to bed for now zzzz🥱
Master do not try to put me in the derampers camp.
I am a trader yes. I was positive on them getting LP. I was negative on V1 and now realistic on financing.
First two correct. Last we will see.
Whether you are positive ( what is your stance? :)) or negative we all know this can be traded easily for a nice profit. Imho dyor
//They said LP wont come .//
Did anyone REALLY say that? Be honest.
Theres around 10mill available enough to put heron 1,2,3 4,5 on line.
Once JV is agreed upon, PM will have enough to do 9 wells.
Typical of the gloom brigade. They said LP wont come .
Now drumming about a raise.
Next no oil in well.
Cash raise? It's merely a question of when & at what price. IMV
Professional you are guessing and trying to feed doubt , the sp could take off at anytime always expect the unexpected like what happened last week.
Rns for forward operational strategy and heron being put on line is imminent that we all know.
Ps wouldn’t want to be out gla
At the moment they are a lot of smallish sales and buys just a few over the 100k mark (one at 250k) but otherwise around the 50k level so imo just traders making hay while the sun shines. Or trying to.