Member Info for 3littlepigs

I seem to recall that Mike is based in Singapore (I'm sure I read that on this site in the past year) so this might be a sensible choice of location (not a jolly).

It’s not a cash offer it’s mainly a share for share offer. When the Future price slipped, so did the GoCo share price.

As a long term holder, I obviously want to hear good news from the company. But I also appreciate that there are good times to release good news and bad times to release good news. With the stock markets where they are and with oil prices where they are, I think the Mongolian government may have done the company a favour. If Matd can release news of an exploitation license being granted when stocks generally are up and oil is back above $40 then this news can really push the share price. Released today, this good news might have just been wasted. Funding news will come with the exploitation license.

That report isn't worth the paper it's written on. It's a fully automated report that uses your cookies to determine which companies you are interested in and then creates a report using dodgy AI that searches public sites. For example, Petrovis Group owns a big chunk (c.20%) of Matd, but that isn't mentioned anywhere. Remember, trust none of what you hear (or read), and only half of what you see!

I’d be disappointed if the CEO of any listed business replied personally to any of us! Find the email address for investor relations and email them. I’ve just taken a look for it and couldn’t find it, but I recall one of the posters here emailing them and getting a response.

master82, don't confuse land permits with the exploitation license. It has always been extremely clear from public announcements that after finding oil at Heron1 that they need to obtain an exploitation license and that this could take until the end of March.

Petertree, like you, I'm hoping for all of the news items you mention. In reality, if I were a source of funding (Petro China via farm out), or a Bank), my funding would be conditional on the exploitation license. Therefore, I think we either get an announcement confirming Exploitation license and funding, or an announcement confirming exploitation, soon followed by an announcement confirming funding. It would seem illogical to get a funding announcement before exploitation news (I know you aren't suggesting this would happen). Also, at these SP levels, I believe it would be too dilutive to do an equity raise. Only if we the exploitation license news pushes the share price up north of 10p would an equity raise be accretive to shareholders. However, the beauty of getting an exploitation license is that we have an asset we can leverage (bank debt) so I hope an equity raise is not needed. Logically we therefore see: i) Exploitation license + ii) Farm out, or bank debt, with iii) Plans to drill Heron 2 - 25!! :) . Here for the long term.

We found oil, but that doesn’t mean our exploration license comes to an end. Our exploration license will have a defined end date. The date is probably in a RNS somewhere but I haven’t got time to hunt for it.

Presumably as a London listed business the company could borrow from a uk bank or syndicate and then manage its hedging requirements as normal?

As there’s frankly nothing to say about this company until we get a rns, I wanted to clarify some terms as I was shocked last week by the lack of knowledge on this board. People unable to differentiate between testing and logging etc. Hopefully you can re-read the last few rns applying these terms and everything will now make sense:

Spud: slang for potato
Log: a piece of wood cut from the trunk or branch of a tree
Testing: hard or difficult
Permeability: the ability to curl your hair
Porosity: obviously is a measure of the void spaces in a material, and is a fraction of the volume of the voids over the total volume, between 0 and 1, or as a percentage between 0% and 100%.
Duster: typically made of feathers, used in domestic cleaning to waft the dust to a new surface.
Gas: a liquid (yes, a liquid dummy!) you put in your car when in America.

Remember, you can’t expect testing to take only 10 days, it’s hard to do by definition!

The 35 days was for drill and logging, not drill and testing. They would need to bring in a test rig to test it. The test rig is at heron1 right now.

More accurately 35 days (time to drill and log) would be in w/c 21 October.

What latest comments? Can you provide a link or reference as the RNS said 35 days which expires in October.

If the results of heron come good and gazelle (as a bonus) I’d prefer to see matad raise debt to fund velociraptor than do another equity raise. The future income flows from heron (assuming positive outcome) would enable the company to service and repay its debt and this would be less dilutive to shareholders.

Thanks. That’s very helpful.

A quick question regarding this no rns = no Duster assertion. What’s the protocol if you reach TD and appear not to have found oil. Do you still go through a logging process? I’m trying to determine whether a TD with oil find plus logging takes the same amount of time as a TD without oil and logging, if logging isn’t needed! If Macd is around and has an opinion that would be great. Thanks

Completely agree. From my time as a VP in an AIM listed company that moved up to the FTSE250, I can say that no CFO wants to put out a RNS on a Friday morning and 7am is always the target. Fingers crossed for Monday.

my apologies, it is on the LSE news page!

I'm as baffled as you all are as to what these mean. However, firstly I would point out that the on the official London Stock Exchange website there is ONLY documents relating to the Meritus changes; there is nothing relating to the enlarged group trading on AIM. Where have investegate.com got this from as it's not on the company's website or the LSE new page? Is it a genuine document?

hi. I don't know who the unnamed company is and have never seen it mentioned, but the prospectus said that after their US acquisitions their revenue from the unnamed merchant reduces to 27% and after the skrill deal will be only 16%.