RE: Mkt Cap $19M - Asset Value $150M-$300M - Farm Out (Very Advanced) - SIMPLE!21 Aug 2025 11:24
As a LTH i am very happy with MB, we are lucky to have an engineer with his experience.
Mike Buck demise ! NOPE. Just wishful thinking by the NEGs !!.
Most miss the fact MB was chosen for a reason, he is known as an oil explorer, always has been and always will be, its why Petrovis chose him, his remit, go explore Mongolia and find oil, all part of Mongolia’s “Vision 2050”, google it.
Mongolia want energy self-sufficiency, they want to end reliance on Chinese and Russian energy imports, hence the refinery and MBs appointment as the CEO tasked with finding oil to feed the refinery, its also why bloxk XX / Heron has been confirmed as State Special Purpose Land. This is the first oil exploration and production area in Mongolia to have been given this status (RNS 5th Feb).
MATAD was never about growing into a Mongolian EXXON, Heron field will be farmed out/ JV or sold to an oil major such as OVL of India, Sinopec/Dongsheng, Petro China or another entity that can afford to develop it, this will be cash sum or cash plus percentage of Heron oil produced or some other deal, MATAD will go on its way with a pocket full of cash and continue to explore our new block VII and other areas of Mongolia with or without a partner.
MATAD play a major role in Mongolia’s energy vision and will continue to do so for a long time to come with MB at the helm,
Note to MB, if we sell Heron to Petro China make sure the cash is in the bank before handing the keys to Heron over, we now know PC cannot be trusted.
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