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Ten trading days till the end of the month, I wonder if things are still on track which one of them 10 days will this elusive RNS land on I wonder? Weather in Mongolia seems to be warning up nicely. I'm sure it will here to if we do get the news were waiting for ever so patiently for,it would be a nice way to start the bank holiday weekend. GLA.
I always prefer to be realist, gatto and not to take my wishes as a realinty like you and some others do. Look at the facts and situation on the market in which Matad are today and ask yourself are Mike and his BOD has delivered their promises since his arrival or not? The obvious answer is Not. Therefore it is my right as long term investor to ask what is going on and when they will start fulfil their promises. And I have address last posts not to you, so I don't care less what you are thinking.
Oh dear, this is worse than the remoaners and the far right! MB said the contractor needed to wait for some long lead items, isn't that good enough for some of you armchair boffins who have nothing better to do than grumble. MATD have no choice but to wait until these items are sourced. They said drilling in May/June, my calendar says today is 13th April. William Langland wrote, 'Patience is a virtue', a few hundred years ago, why don't you learn that quote as it may help you understand the universe doesn't actually revolve around you.
IGEEK, isn't it fact that last year this BOD wasn't prepared for 4 well drilling program despite of promises via RNS? Or isn't it fact that even this year they are not prepared for drilling despite the drilling season is started already?
And what I am personally talking about not a delay but the unsatisfactory work that this BOD does. I really fed up by excuses so often coming from our CEO and I don't want to hear them again. Because as was George Washington said: “Ninety-nine percent of the failures come from people who have the habit of making excuses".
So, no more excuses Mr Mike Buck from you and your team. We need just the results, timely and preferably positive.
Does anyone posting on here actually know how to contract a third party rig for drilling? If so please enlighten me as to how and then I may understand why you all keep posting the “I can’t understand the delay” crap! Otherwise wait for facts! Which will be here soon because guess what....it’s a fact that there will be an RNS explaining ffs
Agree with Manro and others feeling the same. Rig contract should have been signed off and ready to go. My own view is that, initially they were going to use 1 drill but may be half way through the negotiations, management decided to use 2 drills simultaneously to get more done during the 2019 drilling season. Hence negotiating amended terms. Could be wrong. Just speculation.
Silver lining here is that whenever they start drilling there should not be any dependency on 1 rig to finish the job first before moving it to the next drill spot. e.g. If there is a strike on Heron-1, then they would most certainly be doing Heron-2 and Heron-3 at the same time. So overall we don't lose time. Same would then apply to Gazelle-1 and Gazelle-2 and so on...
Exactly, Sundaysun. I don't remember who did write here quite rightly that this BOD are doing presentations, raising money from investors, paying himself big salaries, drill dusters and repeat. I really don't want to be negative towards this management or to upset fellow Matadors here. But would like let this BOD to know (I am sure they are reading our posts) what some of us thinking about their job. They all and not just Mike must start to show what they are exactly doing in Mongolia and proof if they are really worthy managers who want to create a first-class oil and gas company.
Regarding sp development pre spud and thereafter I believe in only 2 things:
1. Investors will do their own math and factor in or not factor in the massively better COS with the upcoming double drills (i.e. 2 simultaneous drills) less than a mile away from oil producing wells; and
2. AIM remains to be a gambling arena where bets are made on anything that looks promising.
Based on that I dare not to make any predictions. As some "wise" posters on this BB keep saying: "Only time will tell" - how true indeed!
last year; this is basically the Political risk of dealing in Mongolia!
I think MB originally put some of his personal money in when he was fresh to the Mongols,however the country is relatively empty and non-industrialised.
I can imagine how difficult it must be to operate and I guess what I say to Matd, You got your investment from AIM but we are not all mug's. Still holding for a multi-bagger but IMO don't expect a big rise on the rig news; we need to commercialise. GLA
Yes, it is odd. And Mr P. you are quite right too. Instead of doing solid business this BOD has turned it more and more into some kind of show. And that is what I dislike most. And I do not understand what this management is doing in their work places if didn't able even to negotiated and sign a drilling contract for 2 well in Block XX since last year?
Yes, we have to be patient. But I don’t quite understand why as the old management of this company, so now Mike and his team always lag behind, instead of being ahead of the events. After all, the company planned to drill 2 wells in block 20 last year. And if this is the case, then shouldn’t this been to speed up all the procedures for commencing drilling operations of this year? Therefore, in this case, the point is not at all that we are impatient. Because here we are not talking about any specific deadlines, but about the uncertainty in which for some reason we all have been constantly held during last year and now. Instead of following a previously thought-out and well-respected plan of action, including the conclusion of a contract with predetermined deadlines. Come on Mike its time for you and your team to work at much higher professional level and on the basis of a much clearer and exact plan.
Patience Patience Patience, that is all that is required here, seems we are holding out at the 5p to 5.25p range, it also appears to me that spudding and rig news dates maybe a bit later than I anticipated but I'm also happy to hold on to my shares until the time comes where decisions will have to be made, like I've mentioned before maybe this is the year in the making of Petro Matad, good things come to those who wait. GLA.
In London presently, but what I can say is the weather in Mongolia is better than it is here. It’s bloody freezing.
As far as I know the drilling news is all still positive from what I hear.
Mike and the guys will be having a busy period so best to let them get on with it. Mobilization and logistics attached to immigration and MRPAM will mean this is Matad’s busiest period so when they are ready to disclose through an RNS I feel sure they will.