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Bowley:
1. Nothing has changed - fundmentals are the same. Schedule got messed up which resulted in another delay (see Ostraliamate's post).
2. Did you count 20? Well they're still around and have certainly not disappeared - no worries.
3. That's Murphy's law for ya. If everything had gone perfectly to plan PM would be extracting oil - possibly with a JV Partner and the SP would be beyond 20p.
ATB
We are just waiting for something to happen... its been discussed to death here!
Did you read the RNS? China borders closed so we are awaiting the opening so we can get Heron 1 on production. Talks with DQE progressing, Velocoraptor drill a possibility. 25th May being discussed as opening date of borders but still not confirmed. Still 66 million barrels of oil @100 -150 a barrel, from one structure.
Waiting for update from the board, only May. Lots of good news to come.
Cheers
What’s changed so fundamentally in the last two weeks that 20 daily posters have disappeared and become silent ?
I thought the news was we would be at 20p by now.
Agree. China imports 85% of its energy and food. Its housing market is screwed. Its demographics are scary. Its labour costs are rising at a world record rate. They are already deindustrialising. Never mind that they are surveilling their people, investing militarily and spending squillions on "coved zero". Russia looks like they are going to be less helpful than thought. China is desperate for near-to-country energy! No brainer. China will get involved but MATD is not necessarily a price taker. IMO. BTW: Why would you invade Taiwan and risk those sanctions which would hit China 10X worse. They need to focus on the economy and staying in power.
Youre posting style reminds me of someone tgat used to post here alot. I cant remember who it was. Are you back under another id?
lambo: I asked investor relations on the topic of bringing in a rig from somewhere else, they responded as per the below:
"International mobilisation costs tend to make contractors without equipment already in country uncompetitive on price unless a commitment can be made to a very large programme but Petro Matad will continue its discussions with DQE and other drilling contractors and will update the market on progress when necessary. "
Things can change rapidly with China looking to boost their economy.
This SP is a comfortable investment in troubled markets imo.
GLE
I do believe we will hit 12p when we drill and have heron 1 on output as this will clear and ready the oath for us to continue with H2, H3, also if we get velociraptor closer to drilling, could be great year, things are looking good shirt, medium and long term.
More chance of me sprouting wings and flying to MB penthouse suite than these clowns drilling this year. They hve had 2 years to arrange the rig contracts and yet still nothing, they could have bought rigs from anywhere in the world well in advance but chose to rely on Petro China, it’s direct competitor, staggering really when you consider they have had 2 years to source a rig for a simple shallow on land drill, and they blame Covid, joke of a company imo
I would hope 9p would be a very early stopping off point given a decent RNS. After all we hit 8p not so long ago with no license i believe.
At least!
Any educated guesses at what the SP could be if we only get H1 on line this year and conservatively just 3-400 barrels a day.
Nothing else, just that.
Back of fag packet for me would be 9p
Gold_Mine: Thx for that - excellent post. As a (at least according to Hamm) a pathetic poster I would like to add that PM has - over the years (10+) - lost a lot of its credit in the market; some will say justifiably. OK. But PM's business case remains to be extraordinary. Once this company starts to produce oil its SP will go ballistic. Not many investors believe in that - which is fine. But if it does happen - which I am convinced of - there will no looking back.
Do what you think is right.
ATB
Nice to see the SP holding up in a terrible market bloodbath today. Hopefully the weaker holders have been shook out.
I try to remember that in Petro Matad's 14 year history it has never been in such a good position,
- Oil resource discovered and Exploitation license granted
- Fund raise already carried out ($10million) with sufficient cash in the bank to bring on the Heron field
- The award of the contract to build the new crude oil pipeline between block 19 and the new Mongolian refinery locks in the importance of the Heron field to the Mongolian government and PetroChina both due to close proximity to block 19
- High and rising oil price environment likely to be sustained due multi-year underinvestment in new oil fields and exclusion of Russia from energy markets
- OPEC projected to run out of spare production capacity this year according to some analysts
- Multiple signals have been given out by the Mongolian central government that they want and need an oil industry and will be supportive to companies looking to develop new fields
Whilst sentiment is currently low in MATD due to the placing last year and general market negativity/chinese covid restrictions, MATD has never been closer to oil production - surface equipment has been ordered and there is almost 6 full months left in the drilling season in Mongolia.
The current share price looks like a bargain entry point for those willing to take a low-risk bet which offers potential returns of multiples of the current share price,
AIMHO/DYOR