The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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@Ojay - Much appreciated.
@Petertee - I wrestled with the idea that financing news would land ahead of exploitation licence but then thought that the exploitation licence could be used as further collateral during the negotiation process.
This would enable PM to negotiate a better deal as Heron 1 will be more de-risked, furthermore, at that stage the SP will most likely be at a higher level due to news of exploitation licence being granted. All IMO of course, it can still go either way...
I would expect news of financing to be the next RNS because MB has stayed that the Government are known to sometimes be slow to respond. We know that MATD have already started to action the permitting process with regard to the heron project. Hopefully an RNS before the end of December which would prompt SP to bounce up to more realistic levels, such as 7p without a further RNS - imho dyor
Nice post Neeko - well done!
As stated on a number of occasions by MB, the company has sufficient funds to take Heron 1 to production, however, will require funding to proceed with the 2020 drilling plan. With response to the 'Nothing to see here for another 4 months', I anticipate we will see the following within that time frame.
1. Response regarding application for Heron 1 exploitation licence (anticipated in Q1 2020)
2. Funding arrangement for 2020 drilling program, shortly followed by...
3. Proposal for 2020 drilling program
I am sure there will be additional RNS's between the above, but those are the main ones to look out for within the next four months. Any one of the above could impact the share price significantly (depending on the outcome of course). In the meantime, I am confident with my investment here and will be waiting patiently until we receive further updates, topping up along the way where I see good opportunities to do so. GLA
How warm does it have to be to sign a licence agreement? That’s what we’re waiting for!!
MB has been pretty open about his strategic thoughts and options he is pursuing. Given that they have made a material discovery, one way or the arrow seems to be pointing up now. Where the shares (diluted or not) stand from here five years from now is a conjecture. Regardless, I appreciate MB's openness in his contemplations. The one piece of information he dropped that was of particular note to me that no one seems to have picked up on, was the bit about how the local political issue with permits to drill Heron was not really resolved, only put on hold to allow the drilling. That for me is the most material concern going into 2020. I remain very skeptical that whoever that party is is going to be less of a road block now that there is oil proven out then before there was. I have no idea how much influence the federal GOM has over local politicians, but if they have little, this would be the one thing I could see blocking the sought after exploitation permit from landing early in 2020 if at all. That group has to know the leverage they have over MATD at this point given their level of resources on hand with no other quick option to materialize cash flows. I've seen enough of how things roll in Mongolia since 2011 that nothing would really surprise me. Hope I'm wrong of course, since I hold a lot of shares of this thing.
Thre is a presentation on 12 th November, see the links on this BB. Mike Buck said that at end of year they will have 3 million and this is enough to get heron 1 on stream mid next year. So as long as they get exploitation licence income should begin. My take was that 300 Or 350 bopd covers there costs for 1 year and Heron 1 May archive that. Then with the extra small bit of funding they hope to get heron 2,3 and 4 producing. This extra income the funds the extra wells.My bet is a Petrochina farm in to achieve the extra funding
How do you arrive at your 3million figure? Or is this just your guess ?
Currently have 3 million to tide them over till Spring, but new financing will be arranged much sooner
I have been watching this company with interest, and looks to have prospective assets.
I understood Matd was fully funded for drilling program in 2019.
Now that this is behind us, does anyone have an of the cash position of the company?