Member Info for Adw198

Thorn, why do think he said it’s unlikely to happen this year, ie what are these 3 seemingly competing entities waiting for? More competition?

My belief is the POTENTIAL partners will want to see the results of the H1 remediation and outcome to whichever other target they go for.

The raise imo will be relatively small, a few million to fund the work at H1, but mainly to fund whichever of Gobi / Gazelle or Heron2 they decide to go after.

The raise will positioned as a great opportunity to increase production.

I suspect he’ll try to hang on for the “PC sales deal signed RNS” as that will presumably spike the SP as most of us think that’ll be a positive and material bit of news (WOS implied it didn’t need an RNS so is presumably not of the belief its material news).

He has certainly NOT ruled out a raise, contrary to what gets claimed on here and indeed the resolution was passed allowing an increased amount which appears to have been brushed over.

That just my opinion on a binary outcome so hopefully it doesn’t cause to much abuse.

My logic is that we’ve previously been told - more than once - that the Banks ITE has fed into the earlier work to ensure it meets their requirements and here we are reworking it for a THIRD time. Will it be different this time - you hope so but have offered no explanation why it previously got bounced and no rationale why this time would be different.

And I really don’t find it credible a bank or other institution would lend $150m to a company that have relied on annual raises to keep the lights on, ie what security would the lender have on Asiamets ability to continue? Again, my opinions are based on the FACTS that they’ve not found anyone to take this forward either as a JV or any other model. DOID walked away from a project level investment so perhaps you could venture an opinion on why and where the $150m is coming from given we were previously told a bank would look to do 50-60%?

Thanks for the advice but I’m staying for the inevitable DOID takeover. I suspect 2p will get it done, although it’ll be even lower if the full stitch up is on, ie they come back from the “lead bank” with a no, as it’ll be clear Asiamet aren’t able to finance it.

Yep and there’s no way they’ll suddenly decide to pay multiples. And the bank isn’t going to lend Asiamet to e capex requirements anyway so the whole premise is a false one

“They haven't got a hope in hells chance of getting the lot for a 100m”

They’ve got every chance but I suspect it’ll be considerably lower. How much did they pay for their existing 45% of the business?

Ha Investor “accidentally” reading my posts calling out yet more of his hypocrisy - hammering those who bring up the past whilst obsessing about 10yeR charts and this one time at band camp with Rolls Royce.

“He must be particularly hacked off, because apparently he sold out at around 1.8p when he wet his pants after some overt MM manipulation back in mid November. Of course, he would not have had any idea whatsoever that the share price tends to be weakish during the winter shut-down”.

Yeah I wet my pants when H2 was suspended and the price nosedived considerably lower than my sell price - and is still lower now. What a strange thing to try and mock me for!

That H2 result meant a change in company strategy as confirmed by MB. Fortunately unlike you, my money hasn’t been tied up here since 2019 at a much higher average. You’ve admitted you’ve averaged down and down so much you couldn’t take advantage of the drop to all time lows which your now claiming was obvious and just MM manipulation.

A walking taking contradiction with a brilliant lack of self awareness. Keep up the good work and don’t forget you wish you’d never heard of MATD. I’m glad you did because you provide some great entertainment and it’s good to know the ego wings will be getting clipped.

@investor probably taking todays award in self awareness with his little gem about

“People who go on about the past…”

Same guy who admonishes anyone who says things are great here by telling his much repeated story about the ten chart having all the answers.

Also enjoyed the Rolls Royce past AGAIN :)

Agreed with that Thorn.

Obviously the challenge is how MATD get the money to fund the wells. Obviously this year it’s not happening because despite the insistence of many on here there is no viable funding arrangement at the moment. I suspect if they can get Heron1 producing a regular decent amount those options will open up.

An interest in the current economics of the company is therefore very logical, hopefully you can similarly agree with me on that point

Cheers Manx, not sure I agree re the cash position conclusion (and as a minor quibble it was dollars not pounds) but happy to respectfully agree to disagree.

Morning gravy, another really insightful contribution from you. No wonder you have to pretend to be up here. We both know that’s a lie, the fact you feel insecure enough to feel the need to lie says a lot. But keep up the great analysis 👍

@manx

Appreciate the figures and logic - but what about the spend on renewables, along with now the new licences?

Ultimately where has the other $3m gone if your running costs are say 250k per month?

Thanks Manx, appreciate the context (and question).

I’m back to wanting to know what costs are being referenced. We know for a fact that the 24 H2 spend far far exceeded 250k a month because they went through $7m in that time. As I keep saying we can allocate circa $4m on drilling Gobi and H2, but sure where the other $3m went but even that leaves $500k a month.

Nevertheless, if they can indeed get Heron1 upto say 400bopd it can begin to build a better financial footing whilst also demonstrating what the field can actually produce in practice.

“Breaking even at 200 bopd according to ceo“

I only skimmed over the presentation / AGM, but didn’t he also say he didn’t know the company’s running costs?

I’d be interested to know what’s meant by breaking even, ie which costs he’s considering here. H2 drilling? The office rent?

I think they’ll still be a placing with the same logic as when then they last did one - ton risky to be entirely reliant on H1. I also think case will be running very low. If it’s wrong it’s wrong. To claim categorically there’s no raise is naive. Especially because he specifically increased the amount he could raise - remind me of his reasoning for that?!

If there is a raise all those who categorically insisted there wouldn’t be one will all say it’s a good thing.

Why was my reasonable question problematic btw?

I didn’t think it started at 1.30 the day of the 50% rise?

It looked to me like it settled back where it started (before today’s impressive rise).

“50% up in a day then a gradual pull back to settle somewhere a good deal North of where it started.

That's a pump and a consolidation isn't it”

When did it settle a good deal north where it started on the 50% rise?

“The timeline is set here.“

When is H1 being remediated?

When is H2 being addressed

When is Gazeele being addressed

When is Gobi being addressed?

(They haven’t even decided on the above 3 let alone got a time frame for it.

When is the JV to fund multiple producing wells happening? (not this year for a reason nobody can explain)

I reckon you’d struggle to quote evidence of most of things being said, but then you’ve never quoted a single lie either so I think you might be arguing against a straw man again.

I did personally wonder / query if the storage was limited which I think is a sensible thing to CONSIDER. As you say though hence confirmed it’s not an issue - they’re seemingly very happy for us to pay them to stockpile a $1m + worth of oil, they just can’t find a pen to sell it for us.

Well said Unnd, you’re a rare voice of calm with an equally rare grasp of the facts.

The plan (Thorn) is to hopefully attract a JV partner because they are NOT self funded for growth despite what the broker note, WoS and you claim.

None of the alternative methods you and others listed appear to have come good, my logic being none have happened and MB explicitly said aren’t available. You were adamant you’d be happy with any course of action (JV etc or dilution) that led to 4-6 producing wells and nowhere has happened. So you all pivot to a new position that you’re delighted the growth isn’t happening because it MIGHT happen next year. I say might because they’ve not managed a JV this year have they. I’ve shared my theory as to why, which was previously slated as spreading FUD. Maybe someone else could explain why they’ll find a partner next year but not this?

Re Proquos typically emotional rant about a raise and $14m…Each producing well costs circa $4m but as Abzzba helpfully shared PCs success rate is 52%. Funnily enough MATD are bang there on 50% (admittedly currently). It would be sensible to factor those wasted drill costs into your projections when calculating how much Jam might be produced tomorrow (next year)