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Wolverine exactly
We were 7p without the drill and expecting the land permit back in May.
Meanwhile our operational focus shifts back to Block XX where the Heron development offers near term oil production and revenue generation and where low risk, near field exploration opportunities have already been identified which provide exciting upside potential
The low life’s have turned up and will be after their poxy 10%, I have a little powder spare for the mm’s manipulation and I fully expect this to finish above 4p.
I agree take your stops off and the news flow will be very positive going forward from today gla
Everyone is missing the point.
The news clearly leaked last week.
Completely unacceptable
The market we operate in is tough in every sense of the word. MB has done us great in getting us to where we are. With the LP in hand, we will be generating income sooner than we think. Don't sell your shares for peanuts. hold tight. Crystallizing losses is not always the smartest way. look forward.
I'm expecting a massive over reaction first thing and then the price will slowly come back. Lets be honest, it's disappointing but people didn't invest because of V1
Into the 1's
I have most definitely not been on the sidelines. I have been invested quite significantly here for many years. The only way Mike Buck has played this well is to his own benefit. He has kept to charade going for long enough to keep drawing his salary.
A week ago, there were 2 major unknowns. Would we get the LP to allow the proven reserves to be exploited at Heron, and what would be the outcome of the Velociraptor exploration drill. We now know the outcome of both. Heron can commence, cash is available and equipment in the country. An exploration well is just that - its exploration. I'm v pleased that if we had to choose between one of the two, we got the LP . Things will move on, the oil will start to flow and the sp will respond.
Maybe this help ;)
- MATD already have oil, funds & permissions for PRODUCTION / REVENUE this year.
- Toson Uul Extension 2 BILLION bbl Proven & in Place in Petro China share. MATD share look at 3 BILLION bbl
- At pace & NEAR TERM Revenue from Renewables
- DQE Partnership news for RAPID/LOW COST full field development.
V1 was always only 20% COS with almost 50% derisking already happen from 7p (before SC news).
Everyone know now we have Special Certification for Block XX development / revenue while investment have been derisked.
People make hysteria about V1 icing but forget Block XX cake lol. This same one will be BUYING back in quickly ;)
Happy with my holding & expecting aggressive TREND UPWARD to start soon once all kids hysteria calm down lol
Bounce will be Hard soon enough ;)
In the long run anyone buying in at 6p last week will do well. It’s just frustrating that the SP gets hammered in the short term. Although it’s great if you have funds to top up! GLA
I was disappointed the day that RNS came out.
Not so much today.
The morning the Heron makeover drill starts I shalln't remember Velocoraptor either.
Keep your perspective however you plan to play this.
If you've kept any powder dry then perhaps now is your moment?
De rampers in full force to grab as many shares as possible from weak holders.
From now on it will be all good news.
Hold to your shares.
Think you will find it's bad news always follows good news with Petro Matad.
Good news always follows after bad news. Remember we have LP for a proven source. Guaranteed income. Patience is the key here and wait for more updates from MB
Drill a miss as was to be expected but sp will go lower ( a lot) as people were still punting and hoping on this drill.
Sp will imho not rise fast before clear plan for Heron which the market believes...
Right or wrong market is going to think about delays and equity raises ...
Up to everybody to come up with their own trading strategy....
Lets see what the market does
I don't have much to add - it's scenario 2, LP + duster. More cash to be spent on getting Heron up & running & bidding for new licences (MB will probably be quite happy to go off and do more exploring). Will Heron revenue come soon enough to save the company? Who knows. A low SP doesn't bode well for a further cash raise causing massive dilution.
Mate its easy to sit on the sideline and grandstand after the announcement. Mike is going a fantastic job we are about to become an oil producer in a matter of weeks months so perhaps pull your head in and have a think about how big an achievement that is.
It's been a rough ride for shareholders but you are not investing in Shell.
Drilling V1 was a company maker. If this RNS said oil show he was the hero. It's frontier exploration IN PARALLEL to putting our discovery on production balancing exploration with production is a risk but thays where future exponential growth in the share price comes from.
This was always a low COS but it was well worth a punt with a proven oil system. You now go back and look at the data and perhaps thay throws up another target outside that trap.
We are licensed to exploit oil from our discovery. That is a company making outcome.
Look forward to a 10 well deal with DQE at their cost and we are off to the races
Well done Mike Buck. Took a while but you got it done.
Cheers
Mm's will milk this and set off plenty stop losses that's for sure... any traders will be bouncing this around too
Think lot of people trying to create hysteria. All know they are same ones who will be BUYING back in ;)
We ALREADY HAVE oil asset, funds & permissions to develop it for production revenue this year.
Hysteria from BB traders only. Not someone who actually read RNS about company lol
What holidays?
Bad news out of the way as expected. Lets now focus on heron and MB should.not do anymore ventures until PM is making good money.
Holidays are till 15th so might drif till next week .
In these days of mobile phones in everyone’s hands and social media there is little hope of anything staying under wraps in this world
Following today's news I think it is time for Mike Buck to step aside and resign. The events of the past few years have been incompetent beyond belief.
1. A drilling programme that targeted wild card targets ahead of higher chance targets when they went after Snow Leopard before drilling Heron.
2.The exploitation licence debacle.
3.The land access issue.
4. Commencing the Velociraptor drill without the LP at Heron.
We must now cease all future speculative activities such as further wild card exploration and the bizarre renewables idea until Heron is brought online and producing not just oil but solid revenue for the company.
I want to hear a strategy from Mike Buck on how he plans to return value to shareholder who have supported this company over the past years and suffered endless pain from delays and failures.
We need an immediate update on the companies financial position and he needs to be upfront about any planned fund raises that may be needed.
He needs to commit to regular updates to shareholders on the progress at Heron and the monetisation of the oil we have discovered.
If he cannot commit to these basic requests then I ask that he re considers his position as the company CEO.
2.72p is my guess. Great buying opportunity ready for the inevitable rise in next few weeks.
GLA.
What’s worse is the news was clearly leaked fri!
Yeah but today it is going to get smashed which is massively irritating for new investors. Short term it is likely to recover but it will now have a lot of ground to make up to get back to Thurs levels.