Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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A 2 week workover is very viable this year.
They should manage to do a couple of more drilling.
No excuse not to!
MB needs to go back to Mongolia. He needs to be at the field.
Enjoy your day guys
Given that several people on the board have discussed this already (prioritisation of PetroMatad Heron-1 work in exchange for additional money) I would suggest Mike Buck would certainly have thought of this himself or have been directed to it by Petrovis, who I imagine will be as keen to start seeing a return on their investment as the shareholders are on this board.
lambo: I'd guess we would need to have faith that Mike Buck would have the sense to offer an additional incentivisation payment to get to the front of the que for Heron-1 if needs be, that could be win-win for PetroMatad and PetroChina... Delaying a single workover is unlikely to make a difference to PetroChina's revenue, so they may be amenable to something of that sort in the worst case scenario.
Massive dilution in the last 5 years though, 1.5p would mean an Mcap of about £14m not that unrealistic if they don’t drill this year imo, why would the Chinese give matd their equipment when they hve their owns wells to work in first? Doesn’t make good business sense with the price of oil been so high the Chinese have their own work programs to complete before they even think about doing anything in Mongolia.. let’s see I personally also don’t see them drilling this year if nothing by July is finished for 2022 imo
lambo: for Heron-1 we are not waiting on drilling, it needs stimulated and completed for production which is a 2-4 week activity. Also my understanding is Chinese covid restrictions are loosening from the 1st of June onwards. There is still over 5 months left in the Mongolian drilling season in 2022 (mid-November closure advised by MB previously during a presentation).
Your speculation about 1.5p share price seems unnecessarily pessimistic, as the SP has never gone below 2p in the last 5 years that I can see, so it is hard to envisage a plunge that low given we now have an exploitation license in place and surface equipment on order for Heron-1...
You can’t even send a parcel to China atm without it been quarantined for 14 days… and that’s after it takes weeks to arrive, not a chance imo a Chinese rig and drill team will be allowed into Mongolia when there is a massive backlog of drills to be done in China, Petro China are not going to prioritise matd over their own work programs that are hugely behind schedule. I wouldn’t be surprised to see the matd programme delayed until Q2 2023… if this happens you should be able to pick the shares up sub 1.5p, too risky at present with too many unknowns, all imo
Petro china PSA working group to report to Mongolian parliament week of 20th June. Things should be clearer after that tor Petro Matad.
If no oil this year it would be a personal failure for MB. It also would be very difficult to raise any money if needed as the share price would tank! MB should now show he can manage to do difficult job now. No matter what MATD needs to extract oil and start a 2 week workover this year.
Waiting for a lovely RNS hopefully.
guys,
Mystic Meg sez - no oil this year, cash raise before Xmas!
Must admit i am very much in your line of thinking. However i was thinking last night about the fall in SP to below 3p and decided that MB is not worried about the SP falling hopefully because he knows it will very shortly be going up. I think he reckons he does not need any more placements otherwise i think he would tried to find a way of keeping the SP up rather than just let it fall. So let us all hope for a good RNS when it comes when that is i have absolutely no idea as to every date i thought there might be one has been and gone. I fear it might be as far away as end of this month. I am relaxed about when it comes just not quite so relaxed about what it contains.
I've got to say that even though I was previously asking for patience from some posters, I'm starting to get a little jittery. I was fully expecting activity to be starting in July and had expected to hear some form of news by now.
I have always been in. As I said many times I probably have more share than many guys here.
There is no excuse no matter what not to do the 2 week workover soon.
MATD should pay premium to start oil production this year unless there is LP issues!
I was right when predicted 3p.
2p or 20p?
Hopefully a beautiful RNS will end all the misery here.
Best,
Hamm you sound optimistic are you in now? ;+)) GLA
A cluster***K these last 12 months since the EL and the LTH's have shown patience. It is however now wearing very thin.
I'm even starting to get jittery about this years drilling season or is it a case of jam tomorrow with more promises and long delays.
Time for smugness after the 30th of June perhaps, still 5 mth and 3 wks till the end of this year's drilling season comes to a close, could happen sooner but could also happen later no one knows for "YET" GLA
Well I see FA seems to have gone quiet after his 40p prediction by end of June. I see I have not missed much good to see Hamm keeping all you rampers in check . Shameful price predictions over last few months . I've a good mind to report them all
Who is the fool? Me or you? Ok send me your Twitter name and we can have a friendly wager
If Heron1 starts this year, however the share price would be double figure in no time.
Hope we get an amazing RNS sooner than later. Would it not be lovely?
Enjoy your day guys.
Haha I don't deal with fools but happy to have a friendly bet on here that we will drill 2 weeks this year and Heron will be on production. You can make a donation to the charity of your choice when you see the next RNS.
Best if luck.
Happy to have a bet with you that matd do not drill in 2022… they don’t even have a rig contract, if you fancy a bet let me know we can arrange on Twitter
Haha you guys are just so funny. I have never heard such whinging and smack talked about a share you don't hold.
It's pretty sad that you apparently "invested" in MATD but then you just talk it down all the time when you know that what you are saying is total BS.
The company will drill this year, they will have Heron on stream this year and you guys will look silly.
You don't have anything to back up your crazy assertions and down ramping but keep it up. The investors are just buying more shares to reap the rewards of your stupidity.
Back in your box
MB should resign if they don’t drill again this year, wouldn’t be surprised to see this sub 1.5p if they announce no drilling until 2023 which seems likely imo total shambles
I honestly dont understand why you would stay invested in a company that you have so little faith in? If all you do, is crap talk the business, why stay in it?
Its like staying in a long term relationship, where you hate the other person, and cant stabd being around them, really doesnt make sense
No worries. We will see end of the month. We will see end of the year too. We have all seen end of early Q2!
Still in advance talking? How many years he is saying the same thing?
No such of work!
No back to the field!
No plan B!
No others contractors on board!
Share price 2.9p.
Keep adding guys. Down it goes again.
Best,
Hamm,End of this month .You better get buying before it’s too late