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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.
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.
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.
Mystic Meg sez - no oil this year, cash raise before Xmas!
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,
Petro china PSA working group to report to Mongolian parliament week of 20th June. Things should be clearer after that tor Petro Matad.
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
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...
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: 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.
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.
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
He has had nearly a year to sign a rig contract yet still nothing, maybe they don’t have pens in his Italian villa….
C'mon guys. Let MB do his job.
If oil extraction is not possible this year, then I for one would expect a respective explanation via RNS. Until then I assume oil will be flowing this year - full stop.
As several posters have already pointed out: "Drilling" is not required at Heron 1.
ATB
//As several posters have already pointed out: "Drilling" is not required at Heron 1.//
NO - what is required is the extraction & storage equipment & a transportation and marketing strategy. No problem really?
b/d: No drilling required for Heron 1 - full stop.
Why do you continue to undermine that statement?
I think "full stop" is pretty much where we are at!
Of course - and as usual when b/p is in a good mood.
Be careful of some delicate souls. You don't want to push them off the edge! Lol
Have a lovely evening guys,
Which makes it worse no rig needed just a workover and still nothing doing!
With No news we might easily hit 2p rathan 20p!
Normally good news comes fast and no news would be more likely bad news!
It is a pity while oil expected to hit $150!
Guys,