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Yeah no funding needed untill atleast mid 2024 but if heron starts producing sooner then money will be rolling in,
Very possible that all this will be sorted by end of January, money transfer and letting dornod guvnor 1 week
Dornod guvnor the signs paper work at 2/3 weeks on slow as you can get pace being drunk and high on drugs
Can't Buy anything on HL. Can sell loads tho".....
Researchandhold said //BP is like a stain on humanity//
WOW! - WOS & Thorno giving it LARGE today. Sounds more like a letter to Santa than anything tangible.
And the bid still struggling under 4p.
Thank you mr Thorgasson
I will just point this out sir from Results RNS 20th June 2023 - section (c) Going Concern
"sufficient working capital to operate betond mid 2024 as a going concern, AS WELL AS commencing APPRAISAL and PEODUCTION ioetstiindat Heron oil field in Block XX and drulling a high grade ecploration prospect in Block V"
ALSO
About DQE - talk about reduction in drilling, testing and fracking and completion costs with some DEFERRAL OF COSTS to allow portion of expenditure to be settled with future production revenue.
Here is point - cash enough to cover company overhead AND commencing APPRAISAL & PRODUCTION.
Q. Some extra cost for herder compensation but only for 10 Herder family.
Q. How much saving for not drilling V2
Main conclusion - Petro Matad in very strong position and costs look covered but even if not then with move to REVENUE GENERATION no big problem.
All look very good & expecting RNS soon so position very well for UPTREND continuing 🦉
LOR
That's funding for existing (largely administrative) company activities.
It's not planned to cover currently unplanned activities like bringing Heron 1 on stream.
It shouldn't be an issue. If money is needed to turn on the money fountain then so be it.
Mr Thornogsson carry on proper thread now lol.
First obvious thing company say in RNS -"sufficient funding until AT LEAST July 2024".
We know with any company we go by RNS as first source of info but financing always can be flexible. If someone say "maybe" I say yes "maybe" but not really how I base investment decision.
We look at MOST IMPORTANT point which is PERMISSION IN PLACE and fast move to REVENUE GENERATION.
This open up alternative funding line including loans and other ways like Petrovis 'soft loan'.
Also when people talk about fund raise in early 2023 they should remember from RNS Dec 5th 2022 Petro Matad were looking at Renewable sector and identification of potential partner.
Decision for SunSteppe JV set up need capital so company raise at time to enter into this sector.
Thus is difference between BB decision making & Company decision making and why BB posters do not run company!
Petro Matad about to TRANSFORM and shareholder on board or not for this.
Always focus on IMVESTMENT 🦉
Original post 09:10 which give base INFO
This is reference to Petro China condition to supply to domestic oil refinery which open up Petro Matad Takeover route (see post
"Petro China Dachim Tamsag" has expressed that it will follow the provisions of the Petroleum Law, which STIPULATES that in the case of construction of a refinery, oil will be SUPPLIED as a PRIORITY"
Note: this is Law, most be follow and guarantee DOMESTIC SUPPLY with Petro China takeover.
I think bid will come soon after Heron operation start but this is strong speculation base on OBVIOUS STRATEGIC ADVANTAGE to Petro China.
My reason to invest is base on solid OPERATION / FINANCIAL metrics. 🦉
He's done a good job running Petro Matad on a shoe string budget whilst this is getting sorted so I'd expect so too.
Or the soft loan to buy the necessary time as before.
Thornogson, as long as he waits until that signature falls on the paper!
MB will not get any funding until LP is in his hands.
Can't see many institutions giving a penny till LP .
By then this should be 10p. 9p was before EL was given
The dreaded cash raise!
Funding and dilution to pay for frontier oil exploration can be painful.
Funding and dilution to fast track the development of a proven asset (Heron 1) is altogether a different matter.
A soft Petrovis loan and DQE cost sharing are in the mix too.
But there will need to be money from somewhere.
Getting more than 4p for sell. Demand is up . Sp should start upwards to 5p
This is looking like it wants to go higher today, walked up on sells. Be nice to be higher before next news re-rates this
4p limit sells kicking in.
This is going higher.
Don't want it to rise too much pre Heron. Joking aside, if this did spike to 6p quickly, MB won't be able to resist a cash raise!
5p please. 4 months to go before any operations. This might be 10p by then.
Petro Matad will make good money on produced oil regardless of the prevailing oil price.
It's one of the cheapest places on Earth to produce oil.
They'll be one of the last ones standing/producing.
It'll just be better to have higher oil prices to make the most money and profits with highest share price and dividends.
4p. Slow and steady. Ready to invest Jan 1st hopefully.
US has considerably ramped up production to stabilise/ maintain prices. Inflation will climb otherwise.
But even on a very low ball calculation you can see the value that would come.
Compare likely income levels with today's Market Cap to see just how much potential upside there is here.
One bank transfer, one signature and one year.
SP?
Even though your 2,000 bbls a day example quite a LOT below Mr Buck production figure of 7,000 - 9,000 bbl a day.
Make a little bit of difference in revenue Lol
Agree mr Thorgasson.
Here is source ref anyway
"7,000 - 9,000 bbls a day" - Mongolia Mining Week interview 14.05 mins.
Yes apology for thread i just do straight from last reply.
Have good Christmas sir 🦉
I know WOS but aim low and be pleasantly surprised by the upside!
$66 m to $100m oil revenue per year from Heron Field alone.
And we know what needs to happen to make it all happen.
A bank transfer and a signature, both of which are promised to come imminently.
What's not to like?
p.s. do you know how the thread system works WOS?
Mr Thorgasson
It is estimate for 7,000 - 10,000 bbl oil per day with full Heron field develooment (source: Mr Mike Buck interview)
🦉