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Hi Donkee, Many thanks for your kind comment, mate. I know you are one of the most devoted LTH here with very balanced and truthful POV. And I am wishing you as well as to many other fellow LTH the best of success in your strategies. I am still amongst you and believe that Matad can and will be transformed into one of the most successful company in the world. But for to achieve that Mike and his team have to do much more in terms of discovery. That is the way in my opinion towards outstanding result and great achievement and I hope Mike understands this and will follow exactly this path.
Manro: ' one of the biggest oil reservoirs in the world which have to be discovered yet. ' So not discovered yet? So might not be there? If it's there and Petro Matad still have the exploitation rights and funds to find it they should do very well but there's a few 'ifs' in that sentence and the only certainty is that it won't be happening this year.
CS: my problem was a very good knowledge of some highly regarded professionals who have made great oil discoveries in Soviet era. I am even in friendship with one of them who told me that there is an oil in Mongolian Gobi. And probably one of the biggest oil reservoirs in the world which have to be discovered yet. But it can be done by true oilman who can travel a lot there and catch it by his every feelings, brain cells and intuition. This is why when Mike appeared on the horizon I thought that perhaps this is a man who are going to be such a discoverer ... And it could happen but didn't unfortunately. Possibly in future.
Ojay: my losses in terms of money not too big but in terms of wasted time very significant and that is which very hard to recognise sometimes and get out ontime.
Manro: I hope the significant reduction of your share holdings was at least a little profitable or only at a small loss. Personally, I couldn't even break even if I sold at the current sp levels. Clearly, the downside would mean losing all - that's what we all would like to avoid. I for one am willing to remain patient because I believe PM will ultimately turn out good - even better than good. But it's one of those "believer things" which I've been sticking to for many years. Could turn out to be wrong - who knows? ATB
Manro I've previously thought you to be unreasonably optimistic about Petro Matad you now appear to be unreasonably pessimistic? Go back and look at Mr Bucks presentation and if you can be bothered the posts of that time. The potential positives and negatives were spelt out very clearly by posters. Mr Buck outlined the full range of possibilities but did tend to the positive which is part of his job. He did however specifically mention that nothing was guaranteed and it all might come to nothing in 2020. He's a good CEO and in time I'm sure it will be OK. How long and how OK however is unclear. Unfortunately for Petro Matad there are currently a lot of other undervalued oil stocks out there primed to bounce on oil discovery or oil price recovery. It might still be that the exploitation license comes in time to drill Heron this year and it flows well.
Hi Simon, Totally agree. I was never disappointed as much as I am now in Matad and specially in Mike. From one side meeting or listening his interview you can conclude that this is the man who in his exact post and whom you can trust entirely. But from an other when you are looking what exactly he is achieved compare with all his talks you can see more failure than achievement. This is why PM today in such a miserable state. And what is look very strange to me how powerless is he about the licence. Especially taking in account his endless talks about the great supportiveness of Mongolian government. So much talks about it and now is March with no license and even no explanation what is going on and why he is talking now about undefined months. As if he is operating in Africa and not in severe whether conditions with very limited drilling time. And leaving us without any clue whether or not he will drill Heron this year or not. Very very disappointed and disrespectful attitude towards LTH and this is why I decided significantly reduce my holdings here and just keep an eye what is going to happen next. ATB
No one was promised anything Simon. The Mr Buck's media presentations have always struck me as being very balanced and quite clearly raised the prospect of 2020 being a year where nothing happened. You chose not to see this possibility despite it being stated in plain English. Within the last month or so you've posted about this stock being about to soar and talked about £1 and even £10 parties. With expectations like that I fear you were always in for a let down. My expectations are that 2020 will indeed be a wasted year. The funds will run down and they'll fundraise late 2020 with massive shareholder dilution at 2p a share or less? I look forward to considering being on-board for the 2021 drilling campaign. Heron 1 flow test and other wells and hopefully block V? Hopefully whatever party wins the upcoming election will be as supportive to Petro Matad as the current one is (?!)
With regard to the license I’m very disappointed.I bought into this share because of potential 27billion barrels of oil.at the moment we can’t even get a license for 25 million barrels.What can be the problem to get a piece of paper signed.Please no more excuses that some officials are happy about the license.We want action!We were promised the licence by the end of March but now deferred.Anybody feel the same?