Member Info for Adw198

Yes WOW quote happy to accept he did not say explicitly there would be no partnership this year - as you say what he actually said “ I doubt that's the most likely outcome”. I think my paraphrase of a CEO is fair and I certainly don’t think they’ll be JV funded wells this year. Do you, or is this semantics and like me and thorn (bow( they’ll instead tread water this year? If I’m wrong I’ll happily announce it.

And could you return the favour and tell me where he explicitly said there would be “no raise” as you’ve repeatedly claimed? And so you stand by that, ie will you accept you were wrong if there is one and likewise happily state the same?

And how much of the $3m the company had 3 months ago would they need to use to well test it?

I’m not sure what I’ve said you’re actually taking issue with WOS, let alone disproving. But you’re a proven liar with your made up quotes and claims of massive news RNS etc etc

When we talk of lies WOS let’s remember who claimed

“Re: Funding - Report (with we assume knowledge of all metrics / DQE cost offset / Stage Payment arrangement / RBL negotiations etc ) state - Company should be able to fund exciting growth from Existing Cash / Cashflow!“

Not this year pal

Thorn this is really simple - you either believe a partner will JV and develop Heron this year, or you don’t?

I don’t - because MB confirmed he doesn’t expect it to be this year.

Can you tell us you think it’ll be this year or alternatively confirm you in fact agree with me?

As for timeframes, it’s not me who has repeatedly referenced the first 100 days of 2025 and 4-6 producing wells THIS YEAR.

I think the POTENTIAL suitors are waiting to see what happens with the workovers before getting involved. You’re fully entitled to have a different view and articulate your rationale like I have.

Yes stock - who jumps on to a board to say the answers are obvious and then we asked to answer them instead drops 10posts of excuses why he won’t (cant).

He was caught out, it’s not more complicated than that.

They haven’t got the funds to do it themselves despite you and WOS claiming they did.

Each producing well costs $4m and they had less than that 3months ago. They also need to factor in a probable 52% success rate (so 48% failure rate) on drills to producing wells.

They don’t have the funds to do this and the evidence for that is what they’ve just said and (not) done.

Yes Abzzba they announced it here

“Petro Matad is stepping up its efforts to secure a partner to join it in developing the Heron oil field and the rest of Block XX. The Company is targeting financially and technically competent companies with a view to secure an injection of capital investment to drill new wells to accelerate production ramp up and so enhance value”

So despite the likes of you and WOS insisting they had multiple options to accelerate Heron development they’re confirmed they’re needing partners. And he confirmed at the AGM he doesn’t expect it to happen this year. Hence focusing on cutting costs and hopefully remediating H1.

No WOS you’d said they were fully funded for growth. The company then announced it wasn’t funded to develop Heron and needed partners to do it. But alas no partners fancy it this year.

Maybe next year they will, maybe whatever reasons that have dissuaded them this year will still apply next year.

I’m not a holder so there’s no imagination required with me!

I suspect Stockmaiden is but if you don’t want to engage don’t tell him you’ve got all the answers to valid questions about the 2025 business model - but then refuse to give the answers, admitting it’s all guesstimates. In which case it’s silly to dismiss even the POSSIBILITY of a raise.

Anyway, I’m a big fan of Saints charts, he seems to have a great record so that’s promising for holders.

You don’t have factual answers as I said, nobody does. You’ve now conceded that. No biggie you were just caught out trying to give it the big one.

Nobody has been more transparent than me here. But here you are repeating the nonsense about multi IDs simply because you were caught lying.

They weren’t my questions thorn, they were questions stockmaiden asked and not one of you can answer.

2857 thought he was being clever saying he knew the answers but evidently was lying so tried to turn into personalities. No biggie, some us can just spot and call out BS.

I do like / agree with your description of treading water this year, although obviously that’s quite a departure from this is our year forst 100 days rhetoric you’ve been preaching about. But either way you’re delight, we get it :)

2857mal

So you can’t provide answers to any of the questions you bragged about having answers for. Instead you’d rather make it about whether or not I’m invested.

You’ve been caught out,

So aren’t actually any answers, just estimates. Brilliant!

Ok let’s roll with your estimated answers that you were apparently (provided at the AGM)?

As suspected nobody has managed to answer those questions.

And thorn pops up pretending the rampers and proven liars like WOS are on the moral highground.

Morally bankrupt - this is what happens when you bet the family silver on a Mongolian explorer

They absolutely cannot answer nearly all of those questions but feel free to all have a go.

@thorn

You readily conceded there might be e a raise tomorrow fund further Herom wells, so don’t jump ship and say the nasty derampers were spreading a false narrative. Some of us still think there will be one, but not to find the 4-6 producing wells you told us to expect this year. Nor has the been the big investment from the Mongolians you repeatedly asserted would come in the first 100 days - 20 to go admittedly.

The current strategy has been picked only because there are no viable alternatives so let’s have some humility rather than bragging you’ve been proven right any more than MB has with his 100k DOLLAR “optimistic” and currently down investment.

Now, none of that is intended to trash the company. I actually think this new strategy makes sense in terms of reducing spending whilst trying to increase Heron 1. If they can get that upto say 400bopd it will be a nice revenue and over time perhaps take the company to break even and then fund the other options Gazelle / Gobi / H2. They won’t be cheap to bring to production and in my opinion can’t be funded by H1 alone, hence my thinking a raise is still coming. Im happy to hear an alternative explanation as where the money is coming from for producing wells, starting with an estimation

as to how much they’d cost?

@2857mal

My logic for selling was mainly because it became clear to me H2 not being commercial (so far) brought into question what they could do next. It halved the expected short term revenue too, hence the money now dwindling fast. It’s not spent more than 2-3 higher than my sale price and I’ve had plenty of chance to buy back considerably lower. I did say I was getting interested at 1.30p but I just can’t get involved until the funding is resolved. If they don’t raise it’s unlikely to drop to my buy zone so I’ll miss out as I won’t buy back higher. If I’m wrong I’ll love it with none of us are right all the time especially on AIM. - I’m certainly not claiming to be a guru I’m just setting out my current thoughts. Others welcome!

Compare and contrast Investors post this morning attacking my motives and perspective about a potential raise with his comments last year

“And I think that trying to guess people's motives on here is a bit of a waste of time. Personally speaking, having first bought over 5 years ago, and with 1.5 million shares I just want the share price to get to a decent level so that I can then decide whether to at least get rid of some of my holding, given that currently I am overweight with it. And I want to hear all opinions - not to just be in some kind of an echo chamber. I think you will find though that most people on here are long term holders, and those who are trading the share short term tend to come out openly and state this. I think they are very much in the minority though.

And I think you will find that some of those who have held for many years have tended to grow a tad cynical at times after years of raises and false dawns. Frankly, it's their prerogative to be that way if they so choose, as it's been a very rough ride at times. Most will have been underwater for most of the time that they have held their shares“

Hilarious what a difference it makes if you challenge him :)

How can Investor critique the posts of people he claims to have filtered?!

I’m not a poster called Professional or indeed any other alias. Incredible to slate a poster who seemingly CORRECTLY called the last raise - especially given Investor admitted he was caught out by it and wished he’d sold some before. Captain Hindsight again, always full of could have and should haves whilst calling everyone else stupid for not spotting trends after they happen.

I expect a raise and have given me logic, if it’s wrong it’s wrong and no biggie. I won’t be buying in before it’s settled.

Morning Doc

Yes agreed it would still be dilutive at these levels - I was more making the point it won’t be on the scale of the last one, it’ll be a nudge up production type raise - not for several new wells. I think they’re spelt that out and made it clear there won’t be huge investment in the field this year. I’ve explained that I think interested parties will want to see the output of that work - others keep telling us to expect fireworks in the first 100 days of 2025. Not long left to put a line through that line of ramping.