We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It's natural to feel more pessimistic when things aren't going so well in our lives. Regular or even constant negative thinking can also be a sign of anxiety, depression, stress or low self-esteem. This sounds a bit strange, but negativity can also be contagious.
No Land Permit this year?
No Velociraptor drill slot this year?
Another Fund Raise and see you all back here next year at 3p/share?
Possible but not likely and even then, so long as I'm still here next year, bring it on!
Bad . Go on explain the downside.
You come here everyday but don't exactly explain the negatives.
We would like to see both negative and positive sides for a discussion
Short sighted is one who does not see OPPORTUNITY
Be happy but not blind :)
The degree of speculation on here is truly laughable - just wait & see. Always stuff cropping up that the rampers never considered. Very short-sighted.
Excellent summary D1nger, thank you. Been here since Aug. 2017 and firmly believe that we will be rewarded for our patience. Very best of fortune to new as well as those of us with several more grey hairs. This new Q2 looks very promising.
June 2015 - Farm out agreement with BG group for exploration blocks IV and V.
April 2016 - Shell, having bought BG group, withdraw from farm out agreement.
Aug 2016 - Shell pay $10m to Matd to exit agreement with a further $5m once complete.
Nov 2016 - results of surveying on blocks IV and V estimates between 9 and 23 billion barrels of oil in place. Also Petex conference attracts a number of potential JV partners wishing access to Data Room. Share price starts it’s meteoric rise from 3p to over 35p.
Feb 2017 - Matd receive $5m compensation from Shell, share price stabilises in the 20p to 30p range while investors wait of news of drilling and joint ventures.
May 2017 - Idiot CEO Ridvan Karpuz enters into death spiral finance with Bergen group.
Oct 2017 - Mike Buck appointed CEO
Dec 2017 - Bergen death spiral finance terminated
Jan 2018 - Placing to raise $16m at 6.5p per share for drilling
June 2018 - Additional placing to raise $18m at 10p per share
July 2018 - Spud of Snow Leopard
Sep 2018 - Snow Leopard plugged and abandoned
Oct 2018 - Spud of Wild Horse
Nov 2018 - Wild Horse plugged and abandoned
July 2019 - Spud of Heron
Aug 2019 - Spud of Red Deer and beginning of local provincial govt problems at Heron.
Aug 2019 - Drilling resumes at Heron
Sep 2019 - Oil discovery at Heron
Sep 2019 - Red Deer plugged and abandoned
Sep 2019 - Spud of Gazelle
Oct 2019 - Oil discovery at Gazelle
Oct 2019 - Testing at Heron showed oil to be hIgh quality 46api oil flowing freely without artificial lift or stimulation and flowed at a peak of 821 bopd.
Mar 2020 - COVID. Application for exploitation licence. CPR increases estimates of oil at Heron.
May 2020 - Senior Management agree to 50% pay cuts, exploitation licence application still ongoing.
Dec 2020 - Covid continues to scupper progress
Apr 2021 - Still waiting on exploitation licence
July 2021 - Exploitation licence granted
July 2021 - Placing to raise $10m at 3.5p per share
July 2021 - Feb 2023 - Land access issues
Feb 2023 - Fund raise of $6m
March 30th 2023 - One day closer to being granted local permit
It’s been a long journey for quite a few of us here, if you have not long been invested in Matd then you may have joined at the best possible time in the past 8 years. Good luck to all and let’s hope this is the year of the Yak.
Yes there is a lot of news ref PC but PC is not PM. Also activists said PM was a Canadian company and late last year they were ****ging PM off. They are not now and haven't been for a while. PC will be bought in to line, but there is no way PC will be kicked off their blocks and any effect to PM. China needs oil massively. This will be sorted so imo nothing to worry about
There is a lot on the Mongolian news at the moment about a large number of dead animals found on PC land. The activists are saying PC wanted to bury them before they were caught and that the deaths were caused by contaminated water. This has caused PC plant to be closed while investigation takes place. Something to bear in mind regards timing of LP grant and our requirement to use their facilities.
Part of me wants the LP to land ASAP, and part of me would like it land at the start of the new tax year so that I can top up the ISA and grab some more shares here first. Either way, I just hope for all of us that it lands soon. Especially fellow LTH.
Thanks Master for the great research and posts as always.
GLA
Doc83 I never said I wil get nervous lol where you get that from, I did say I expect it to land early first week of April, but let's say that was a good prediction from the background activity, but I fully expect now from master82's digging that that LP will land in April for sure,
Alot is happening to get this LP done even the British ambassadors been involved, not long now that's for sure
I agree with you I think MB knows exactly when this is going to land or very close to exactly. He is holding off all the other news until then because he know that everything plays around the LP and by that i mean any contract negotiations. That is the whip in our hand which normally as minnow we do not have but with that I would not say it makes us all powerful but it makes us far more persuasive.
Let's hope it comes good for us all soon, we have waited long enough. To be honest reading the posts today has been refreshing and I don't usually filter people, but WOS I just had to, some good posts, but the incessant same old same old just does your head in.
Let's just keep the info coming so we are all in the loop into what's going on. ATB everyone, hopefully we will hear something soon
iamrich - you said you will get nervous if it goes beyond early April. That’s end of next week.
I hope we hear something soon. It’s quite ridiculous how long this is dragging on for.
Looks like the LP could land anytime in April, and I'm sure Mike buck knows exactly where we are, bet he holds on to velociraptor news until then, let's see,
This could be a mega riser this April, but still betting ona minimum 200% and if buck hurrys to get heron drills at the same time as velociraptor we are gonna have a hell of a Q2!
‘ Much better to fund a company from the sale of oil produced and certainly much, much better for the Share Price.’
If ONLY there was a company like that out there :-)
I do lot if research on this company and you 100% right mr Thornogasson.
Mr Bob maybe you do somecrserach as well. What you say happen before Bergen finance deal which push share Pryce down from mid 30p to 3p
Maybe not LTH like lot of people like to say but my research FRESH & ACCURATE ;)
Be happy & well research :)
As I recall wasn’t the rise to 35p due to Matd partnering up with big player BG and all looked rosy……Until Shell bought BG and didn’t want to produce on so many fronts so pulled out of Mongolia and paid off Matd 5-10m as I recall.
The Good Old Bergen 'death spiral' finance deal.
Every month they were awarded shares worth more than the prevailing share price of the time.
So every month they sold them at a profit.
Nice work if you can get it.
The Share Price didn't like it so much.
Much better to fund a company from the sale of oil produced and certainly much, much better for the Share Price.
Bring on the Land Permit!
Yeah I think the history of MATD is huge potential but the reality has been
- drilling sisters
- fund raises
- time lost doing nothing (not drilling for oil)
However,
- they have an oil find
- the land permit will allow them to sell that oil and become and oil producer
- and there is the potential of the velociraptor drill
The land permit should cause this to re-rate.
Velociraptor if it hits oil could be huge - but even if a duster the land permit changes everything.
Good luck
@Ojay,many thanks.
ATB
GLA
Fairy1: I'm probably not the right guy to respond to your query but at least I was around at the time.
The SP rise from single digit to 35p was solely based on hope and expectation. Unfortunatley that did not play out. PM did not have an oil find and shortly thereafter they actually made a horribly bad placing which crushed the SP.
Today (6 years later) everything looks a lot better. Best you read the respective RNSs and the other information available which should convince you that PM is finally - after so many years - going for glory.
Agree mr Master LP done and now just need official draw up of document & release.
Happy happy :)
@ID78,many thanks.
ATB
GLA
This massive fund raise I think is what did it
https://irpages2.eqs.com/websites/petromatad/English/1100/news-tool---rns---eqs-group.html?company=&article=25901416&iframe=true