Member Info for Adw198

“1000 barrels a day is only quoted so as to be cautious and on the conservative side”.

Ok thorn, let’s do a deal - if H1 and 2 combined isn’t producing your conservative projection by June next year, I won’t post thereafter.

If it isn’t you promise to explain the extent to which you were wrong to make up figures based on what discredited industry expert Abzzba told you to think ?

Well I was here as a holder too - but you didn’t like that either did you? Or believe it. How many times can you be proved wrong and still pop back up?!

Don’t worry about what you think my motives are mate, if you want to make a contribution on the actual company go for it.

But yeah if the price goes low enough I might get back involved. I absolutely wont change from giving an honest view though - just like i did when expressing concerns as a holder that…turned out to be right.

“1000bpd out of H1 and H2 combined” - agreed this would be a brilliant outcome.

I think the chances are pretty slim - because it assumes an extremely optimistic outcome at both. By no means impossible though.

Take your pick folks, you can either listen to the stale, underwater and discredited bulls who tell us H1 is “very likely” to be a gusher, or we can listen to the company themselves who aren’t able to use inaccurate language, who tell us

“the indications of sustained potential for the well to produce at higher rates are under review, to see if modifications at surface can be made to increase the stabilised flow rate”

To my reading a “stabilised rate” isn’t the same as “maximum deliverability”. It’s the former that matters.

@wigster

I can’t recall if anything different was said in the presentation but the RNS certainly suggested that, although I suppose it was caveated by saying “if” surface modifications were needed, so perhaps they could be an alternative way.

"We are very pleased with the performance of the Heron-1 well so far and we are encouraged that higher than expected stabilised flow rates may be achievable. We are looking into this as a matter of some urgency, * although if surface modifications are needed, these will likely have to wait until after the winter operational shut down*“

@badprophet

It’s not even his theory, it’s what someone else claimed they’ve done. I don’t know what they made in 2023 or when they bought and sold because it didn’t happen then! Anyone can look back with hindsight which is largely all this is

You said this

“Doc, 3-4 producing Heron wells is all we need.

We might have 2 already, certainly 1.”

I just corrected you that no, as a matter of fact MaTD don’t have 2 producing wells already. Which you know.

If you misspoke it’s not a big deal.

@tt1981

Yeah I have overdone it to be fair. It helps me crystallise my own thoughts / investment decisions plus I do enjoy setting these liars straight.

You do what works for you too…

Jesus our chartist is back with his hindsight reading off charts based on what another man on another website claimed.

This preaching from someone who himself didn’t invest based on charts is pretty funny

1 or 2 what, producing wells

MATD don’t *already* have 2 producing wells, they have 1 that produces 200-300 bopd that it can’t currently sell.

As others have commented you’ve begin to lurch to being another shameless ramped thorn. I reckon it’s reflective of your panic at the prospects and how much £ you’ve lost here

If there’s no deferral of drilling costs (like there wasn’t for H1 and H2) it won’t be a small raise to get to 3-4 producing wells.

But let’s get confirmation of a signed off deal, an export licence and the figures behind the profit from these wells and then have some confidence about a rise

No Thorn, MATD definitely don’t have 2 producing wells already. They have 1 producing 200-300bopd and one currently suspended because it only flowed 30bopd which was only marginally commercial.

$4m per producing well required - with a current hit rate of 50%. Cash deceasing in the interim. There can be a sensible conversation about the prospects for here, what might happen to improve the first 2 Herons, and alternative funding options - but let’s start with the basic facts and not try to trick people because we’re panicking

Good question Tony - the internet strangers on here suggest it’s just a case of buying some new kit. Read the company themselves say - to me this is basically we’re looking to see what we might be able to do increase production.

“given the high pressures observed at surface, the flow rate is being monitored carefully to ensure that casing and production tubing pressures remain within safety tolerances and production is currently choked back to a range between 200 and 300 bpd. Whilst this is in line with our pre-production aspiration for an initial stabilised rate, the indications of sustained potential for the well to produce at higher rates are under review, to see if modifications at surface can be made to increase the stabilised flow rate”

It’s “UNDER REVIEW” to see “IF” modifications can be made

Yeah we get the gist. You don’t like me and I don’t like you.

Now get back to the company analysis.

What have I said that’s not sensible WOS?

It’s a simple fact there is no deal to defer drilling costs. Perhaps going forward there will be - if so as I’ve repeatedly said that would be a great outcome for MATD. But as things stand there are 2 wells we paid for upfront, 1 of which was suspended.

When are these deferred terms starting from though? Because they weren’t in place for H1 and H2 were they?

Getting DQE to agree would be a great outcome for MATD. But that’s differing to claiming there is such a deal.

Whilst there was an arithmetic error in moveonups calcs, his core points were valid.

300bopd isn’t going to cover company overheads and it’s unclear what, if any, improvements on this figure might be.

“it really does irk genuine investors that the board is now infested with non share holders shouting sell sell sell”

I’m not sure I’ve ever encouraged anyone to buy or sell. I’d strongly encourage people not to make any decisions based on what they read here.

Because you’ve got people like Abzzba pretending he understands an oil field and literally making up the amount of oil Heron1 will produce.

It’s currently doing 200-300 and they’re looking into whether that can be increased. Given that amount is most unlikely to cover company costs, it really needs to - especially if they want another 3-4 producing wells next year, as that costs another $12-15m.

£5m-£10m of winter revenue was Tenbags claim, coupled with a 2025 dividend. I can see why he needs to filter people who might pull him up on this utter nonsense

@hamm

“matd has h1 up and running with around 1000 barrel of oil per day. h2 needs a quick remedial and it would have the same production as h1.”

amazing work. i’m sure one of those posters who prefers facts will point out what a lying ****** you are. :)

Header says it all :)

It’s more complicated than you imply, Thorn. Look at Asiamet, HZM, HUM etc etc.

It’s all very well telling people about 3-4 wells being taken to production next year but you need explain how they’re getting financed. And what they’ll produce at what cost and profit.

It might be that all things considered one still concludes this is a great investment - just make sure all things are indeed considered.