London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I don't think you're a million miles away. That is a great shout. Mike Buck has confirmed at each interview how conversations with Petro China have run smoothly and all is going to plan. Even in the audio on the 10th July 14 days prior to the RNS confirming the AGM notice we were in the final conversations to finalising a deal. Good post VerbierDave.
The "ordinary" AGM took place on Febr. 15 (as announced on Jan. 24) for the usual purpose of approving accounts etc. for the prior year. I've always understood this second one to be an "extraordinary" AGM scheduled primarily because of the board changes (Dr. Oyungerel) who is stepping down and needs to be released; possibly a successor will be elected. Clearly, this meeting can be also packed with other news which - understandably - have not yet been communicated. I would expect investors to receive an aGM agenda with all relevant topics subject to resolution about 2 weeks in advance.
If there is oil in SL Block XX doesnt not matter a damn, it can be put on the long finger. It can be drilled in 2020 or whenever. If SL is viable, we've just opened up the whole of western Mongolia for drilling, dozens of more drill in the same basin as SL alone, not to mention the enormous prospect in WH.
I've got a funny feeling that the AGM might be to announce a Farmin on block XX and this is the reason news has been delayed on the rig contract. On the conference call audio MB mentioned a potential farminee taking away data about areas in the south of the licence and when you look at the COS for the XX area it's great if you are one of the Chinese companies involved with either the drilling or production in the next block with capacity in your pipeline for further export.
It wouldn't surprise me if we see a Farmin this year and much larger drilling campaign on the XX licence next year because as MB mentioned in the audio also that they have permits in place for all five drill ready prospects for the XX license thus giving Petro MATAD a quick route to production and income to continue exploration in the other licences with the larger prizes.
These are just my thoughts and I might be a million miles away but would certainly explain why there has been a delay on the rig contract that was being finalised over a month ago.
Quite right SuperRoty and hence the AGM meetings in the past have been held in December end of year. A couple of times this has drifted into the following year within Q1.
There are however additional matters which can be discussed at the AGM killing two birds with one stone to discuss the company's future vision with shareholders hence the tactical date following TD of SL-1. Potential discovery = Farm-In Partner.
“Petro Matad advises that it has suspended operations at its’ DT-1 well site due to winter conditions”..........”A severe cold snap in the on-site weather from 30 Oct - 01 Nov precipitated an operational decision to suspend any commencement of drilling in 2009”.
RNS 03 Dec 2010:
“The DQE international rig and crew have performed remarkably well under the increasingly arduous conditions and this has enabled the Company to extend its’ drilling operational window by well over one month”.
This is why I think news on the procurement of a rig for Block XX is so important. The drilling season could quite possibly be over in just a little over 2 months and we still haven’t heard if they have sourced a rig.
Filet, the AGM notice in January 2018 I believe accounts for 2017, similarly the AGM notice in January 2016 accounts for 2015. The AGM for the 20th September was initially announced on the 24th July, this date has not changed. Therefore I believe this was deliberately set to take place following the estimated 70 day completion for SL-1 to discuss results. RNS released prior hopefully. The RNS released last Friday was a follow up of the AGM notice.
Interesting to see that this is the second 'Annual' General Meeting this year, when in prior years there have been none (2017, 2015) or only one (2014, 2013, 2012). Is it possible that plans to announce some big news has put a second "annual' meeting on the calendar???.
I assume (and hope) that there will be a RNS update soon. The AGM is scheduled for Sept. 20. Is there any chance PM would want to wait until then to "spill the beans"? I truly hope it will happen earlier - just a thought.
cash2, the original plan was Wildhorse and Falcon and Snow Leopard. As has been said the Falcon prospect looked much smaller on with the latest 3D. With the latest 3D they have found that the new Fox prospect looks excellent and so want to drill Fox-1 but that needs drilling permits applied. So they have simply removed Falcon, put SL-1 first and WH-1 second and will drill Fox in 2019.
I would say its encouraging that SL-1 is first. Listen to the Mike Buck audio again, he says he likes to drill the most promising ones first.........and he is drilling SL-1 and WH-1 first.............. If he could have drill permitting in place I am sure he would drill Fox-1 first........but as he says, needs to get those permits applied now so for sure can drill in 2019.
Snow Leopard-1 was always in the plans (used to be called Irves-1, name changed to Snow Leopard-1)
Still think the jury is out on SL - he may have said it is a favourite as well as for BG, but that does not mean they will strike oil. And if u do read previous RNS, there was a different order for drilling. If anything research backs WH, So no one really knows what will happen at SL.
Why release an RNS about AGM at close of market Friday,why pick doom day,bad news day,especially over bank holiday,I don't like seeing investors loosing money,but would not have been a good time to have shorted the stock,Anyway Mr P,I hope you can add some more tomorrow, because I may if SP doesn't move,Yes that audio was well worth listening to,there is no doubt that Snow Leopard was a BG favorite, and the 20% cos maybe very deceiving,this is my take on things.
CEO presentation...audio link...
It was the audio link from company website under 'Investors' that Mikey30 very kindly pointed out on Saturday. I was not aware of it like many others.
Well worth every minute of listening for anyone already invested OR looking to invest in MATD.
I will adding some more tomorrow. Provides so much more confidence than ever before.
Well next few days are going to really sort the men from the boys in some ways. To me there are a number of options as detailed by others very well:
1) Hang in there - regardless of whether SL is a duster or not - (still dont understand the theory by some that it is ?other than on the law of probabilities!) 2) Sell on a small rise over the next few days and then re-buy hopefully lower at the start of WH. 3) Wait until the result of SL and the result of WH and then buy on the up swing ! 4) Move to another board!
To me the easy option is 1) - no hassle - but I fully understand people who have chosen to take the other options.
In short best of luck which ever option you take. The next RNS hopefully covering just block XX will then I think cement a price that is reasonable as the bottom and then I think if all goes well we can reach for the stars!
ATB - Ham, D1nger, OJ, Mr P, Captain, Loz, JND, Ronin, Paul, Manro, and many others. Thanks to all for the great posts.