Member Info for Adw198

A producing well costs $4m apparently. If this figure has changed please direct me to the source of the information.

They spent $1.5m on Gobi so to make that producing my starting assumption is $2.5m is required.

We don’t currently have $2.5m in the bank.

Now apply similar numbers to Heron 2 and Gazelle.

Those claiming fully funded for these works should be able to explain their figures or accept they made baseless claims to try and trick people

Might even drop one in at midnight given how much anger that generated last week.

Abzzba half gets it he said “some of the money required may come from revenues generated by H1, Gazelle and/or H2“

How much £ is needed to bring Heron 2 or Gazelle on stream? That’s the tricky bit for the dreamers

Relax Abzzba, we both agree thorn was telling porkies claiming the company is fully funded for 4 well makeovers. They arent.

We always get there in the end buddy.

Why is the truth never enough for you rampers?!

“ADW, from the money in hand as of today MATAD are in the position we can work on each of these 4 wells this year, some of the money required may come from revenues generated by H1, Gazelle and/or H2 either way without a placing it can be done”

Disagree that this can be termed fully funded, if you’re saying it’s conditional on H1 being fixed and then generating an unknown increased amount of revenue. It also overlooks the fact there’s currently no deal to sell.

You don’t know what money is currently left and what the “work overs” will cost so pack in the BS, it’s just desperation.

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“4 well makeovers” were the words you used YES/NO ?”

Yes I (re)used those words Abzzba when requoting thorn who used them. If you take issue with the language that’s fine let Thorn know why he used a wrong phrase. I added the word “test” because that’s what the company has used re Gobi and Gazelle. If the company used the wrong word let us all know?

Either way you agree with me and disagree with Thorn that we’re fully funded to do work on all 4.

Would have been easier to say that directly.

“4 well makeovers” wasn’t my phrase.

My understanding is they all need slightly different things. Heron 1 obviously needs the sandscreen.

H2 they’ve said needs a “work over”, Gazelle and Gobi need a well test.

If any of that is wrong I’m happy to be politely corrected

To assert those 4 things can be funded from the $3m the company had 3 months ago is extremely bold. I don’t think they are fully funded to do all those things.

Shall we cover off what 4 well makeover / tests are likely to cost Abzzba? Because the claims here are they’re fully funded to do them and I’m saying they absolutely don’t

“4 potential well makeovers

All fully funded.”

How much is a well makeover?! Who said this work was funded?!

I think the clown running a Telegram group, several aliases, posting maliciously on other boards and promising £5m - £10m winter revenue has more to fear than me (or Wigster!).

But the reality is you and your ramping mates are free to talk BS day in day out making ludicrous accusations of criminality as the FCA aren’t interested in policing this playground.

“Except most years there isn't a very sound business reason given by the CEO as to why they wouldn't want to use it?”

Like last year. Just before a $9m raise at a 45% discount.

Incredible

Investor isn’t as far from the truth as he usually is - IF there’s a raise it’ll likely be a buying opportunity for me.

At which point all the risks I’ve mentioned I’ll still mention just like I did when I was invested.

“Adw, surely your not naive to expect every drill to be commercial, please, get real”

No, I’m not. It’s me highlighting the 48% failure rate on a proven field where they have masses of data. It’s literally the point I’m making

Weird how you don’t include the 48% of drills that didn’t results in producing wells in your “profit”

calcs thorn.

Either you don’t understand basic economics - or you’re telling more lies intended to deceive because the truth isn’t good enough

“Now there's no raise coming the day to day SP is really of no concern.“

1. If there is will you come back and say you were completely wrong and you’re very disappointed?

2. Stop chirping up bragging every time there’s a minor tick up then!

“200,000,000 per year profit“

Have you got any evidence of PCs $200m annual PROFIT, Thorn? Or is that just more shameless, baseless lies intended to trick people because the truth isn’t good enough?

This is what I can’t work out - if the aim was to frustrate us then why not just refuse to let us store (and sell) the oil?

I suppose it’s perhaps equally effective if they were to charge to store it and then pull the rug at the last minute. MB would be left with no credibility if that happens but before the ramping klaxon alerts I DONT think that will happen (but I consider the possibility)

@doc what do you think the SP would do if, for example, there’s an RNS tomorrow along the lines of “PC have executed the contract, the export licence is in place and export / sales will now commence”?

The way I look at it the more doubt an individual has on the deal the more of a positive move it would be.

So obviously those who have no doubts and don’t even regard it as worthy of an RNS (like WOS) the less they should in theory expect it move.

Unless I missed it too, nothing was said about that. I didn’t think get the impression Segilola drilled results were expected any day either - I was expecting the AIM CEO favourite phrase “imminently” to make an appearance on that front :)

Great to get confirmation on production though, all we’ve got to do is keep ticking off the Quarters at these margins and we should continue to move up with the drill results being the super accelerators when(ever) they come.

@stock

Perhaps I wasn’t clear - I meant confirmation the Petro China deal to sell the stockpiled oil is now signed (along with confirmation we have an export licence if required)

Basically an RnS saying the already agreed deal is signed and revenue will shortly be coming. It’s the next expected newsflow to my mind.

Without stirring the pot I’ve obviously said I 85% think it’s coming and think it’ll spike the SP so it’s of interest whether to punt on that outcome.

Genuine question which I think both “sides” can have a fair view on… if / when the deal is announced what do we expect the impact on the SP will be?

My own thoughts are the delays are unsettling and cast doubt on what’s really going on. However, I do think a deal is say 85% likely.

Confirmation would reassure and lighten the cash flow concerns, so I’d go with a circa 15% daily move. Obviously it depends to some extent on the SP on the day it happens but that feels ballpark right to me.