Member Info for Adw198

I’m really not going to take a moral lesson from Abzzba - the man desperate for the IDF to attack Iran so he can claw back a few of the dollars he’s chucked away here. A proven liar too.

Another cancer of the board.

For anyone who can’t see what’s going on here, Tenbag is trying to control who can / can’t, should / shouldn’t post.

He only wants positive comments and knows holders like him who are miles underwater are more likely to be positive. And if holders want to discuss risks and concerns, he’ll falsely accuse them of allsorts.

Shameless, morally corrupt and pig s h I t thick in equal measure.

How many times have you set up a Telegram group about a share you do own?

December 1st 2023 it was 3.50p.

May 01st it was 3.10p before rallying to 4.20p by 31st May.

Obviously we start December this year on 1.375p.

Let’s see if the pattern repeats…

I don’t think the company is finished, I think it’s just in a tricky position of trying to fund wells whilst losing money.

Hi jojoba

I did hold circa 500k shares for most of that time before taking a decent loss. I’m now commenting for the reasons given. I’m not going to throw my competitive advantage of knowing more about the company than most investors away.

Part of the reason for the volume is people like you keep posting about me making the same lazy slurs about motives. Tell us what you hold and why if you want mate - nobody has been more transparent than me.

Abzzba complains I’m negative and repetitive - I told him yday what the June cash balance was and he ignores and comes back asking the same question today. So let’s play fairly and blame the idiot posting the same ignorant question, not the one answering and informing.

I largely agree with his cash calcs in any case so if people were capable of being honest there would be no need to go down these personal rabbit holes.

Weird how you read the “drivel” and presumably read the RNS but still didn’t have a clue about the June cash balance. I told you yday what it was and again today.

I’m not looking for a thank you, I just ask that you don’t tell outright lies like

“Adw seems to think we paid for this from $0.77 million cash we had in the bank in June, what a clown, adw, your circus needs you.“

Yep, sensible people should welcome hearing all views.

The mantra here is you can’t post unless you’re invested. And if you are invested you can’t saying anything that nots relentlessly positive otherwise you’re accused of not being a holder (I’m currently not btw).

So the upshot is these people literally only want to this to be a sea of positivity. It’s why they can’t even acknowledge an RNS as bad when it leads to a 35% drop in a day.

Anyway, let’s stick to analysing the company. I’ve shared the facts and given my opinion on those facts. If ive got anything factually wrong pick me up on it and I’m happy to debate the opinions if others see it differently.

“ seems to think we paid for this from $0.77 million cash we had in the bank in June”

Where’s this insightful gem from Abzzba?

I’ve helpfully again shared the June cash balance you weren’t aware of, despite the fact I also shared it yday. The June balance and cash burn proves that a raise was definitely needed just to keep the lights on.

So when I look back and see MB telling investors a raise wasn’t necessarily needed he wasn’t being honest. I’ll factor that in when he next speaks.

Facts are another raise is almost inevitable - thorn has the intelligence and integrity to realise and admit that, why can’t you?

This is why I’m at a competitive advantage to people who don’t read helpful posts disclosing the most recent cash balance.

I’m sure the same old people were dismissing the mere possibility of a raise earlier in the year and attacking anyone who speculated as a negative / deramper / evil shorter.

The current trend of people coming on, not to offer a view or discuss anything constructive, but simply to announce who they’ve filtered just reflects that most of these stale old bulls with their massive losses have been fact checked into submission.

Armed with the knowledge a raise is almost inevitable, as opposed to believing a 2025 dividend is coming like Tenbag claims, is an advantageous place to be.

Re this “The Company's cash balance at 30 June 2024 was USD 1.93 million (USD 0.77 million in cash and USD 1.16 million in Financial Assets)”

I think this tells us the June raise was 100% needed and his comments that it wasn’t necessarily needed are extremely dubious. I wonder which of his current statements he’s being disingenuous about?!

As I told you yesterday Abzzba, the 30th June cash balance (and H1 cash burn) is out there

“The Group posted a loss of USD 2.56 USD million for the 6-month period ended 30 June 2024, which compares to a loss of USD 1.90 million for the comparable period in 2023. The Company's cash balance at 30 June 2024 was USD 1.93 million (USD 0.77 million in cash and USD 1.16 million in Financial Assets)”

Thorn dismisses this $2.56 loss as “tea and biscuit” money”. At least he’s got a sense of humour and reads what other people say though. I think it’s fair to say the H2 expenses will be considerably more.

Short term cash not a problem but the cash balance will be dropping every month and will continue to do so until and unless more than 300bopd is produced and sold imo.

Absolutely Doc, it’s not a case of being bearish or bullish it’s a case of sharing honest views, accurate facts and at least considering views you don’t agree with.

So many false claims from the ultra bulls. There’s definitely a few obviously negative trolls but they’re easy to spot (espen).

Anaya…I think the reality is winter is here and we know the realistic best case is 300bopd which at some point we’ll probably be able to sell.

I’m semi tempted to buy some back here but what worries me is I don’t really see many significant positive catalysts. An approved deal to sell and export licence is probably the next big news but whilst that might do say 10% imagine the damage if it falls thru or gets delayed? Same with the H1 output - best realistic case 300bopd but that won’t get a tick up - whereas imagine if they announce an issue?

Gobi at best needs more work / another drill.

Renewables - I don’t even really follow it tbh so perhaps something promising might be announced but it feels a side dish not a game changer.

News of JV or similar perhaps the best hope but I don’t think that’s likely till the work on H1 and H2 is assessed / done. The risk of a raise also a negative.

These are my short - medium term thoughts which take precedence over what might happen in 2-3 years when a refinery might be built.

If d I c k heads like you stopped mentioning me I might post less. Although it’s apparent to me I’ve got a better grip of the facts than most here - including you - which I hope to give me an advantage in making money from the share.

I’ve not trashed it. I’ve given a fair and honest appraisal of the strengths and weaknesses.

I suspect a private placing badged as a strategic investment by Petrovis would be more likely than a soft loan. That was what happened with Asiamets in country major shareholder DOID - at ever diminishing rates.

That my just be my Asiamet bitterness talking though!

@researchandhold

Where’s it confirmed that the soft loan facility was dependent on production?

H1 is highly unlikely to perform at increasing rates in the weeks ahead, because they can’t make the modifications they might need during winter

“The Company's cash balance at 30 June 2024 was USD 1.93 million (USD 0.77 million in cash and USD 1.16 million in Financial Assets)”

It was $4.5m 31st December, so H1 cash burn was circa $2.5m.

Some of the raise was for renewables so we need to factor that in too.

Short term cash isn’t an issue but the cash will be decreasing and will continue to do so imo until more than 300bopd is produced.

There are alternatives to a raise, but this year they decided to raise $9m at a 40%+ discount - so if it was easy to get a soft loan / deferred drilling contract then one may ask why it wasn’t done in June?

“A fund raise, well perhaps but it'll to be spent on Heron Wells which have a very high chance of flowing decent quantities of oil especially if Heron 2 turns out to be a good flower with a little remedial work.”

1. What kind of discount do you think a raise would be and what would you expect the impact on the SP to be?

2. “A very high chance” -H2 has just not met expectations so factor that in, or at least be clear you’re assuming best case scenario/ rose tinted outcomes.

This is a currently a business producing 250bopd which won’t break even imo. That bopd might go up, but it might not. I’m happy to accept the produced amount will almost certainly be sold, but it’s also probably fair to list it as a risk that there’s no deal after YEARS of negotiation.

There might be a business here depending on how the H1+2 improvements go (for money) but the big win has long since departed.

It’s not clear (to me) whether the agreement included an element of deferral, but given H2 wasn’t funded that way I think it’s a stretch to say next years work that hasn’t been internally decided upon (let alone put to tender) includes deferral agreements in place.

Separately, one may consider if DQE would be more or less willing to be paid that way after the issue at H2.

A deferred payment deal would be brilliant news for MATD though, as it might keep the placing wolf from the door.

Brilliant post proinvestor - very balanced.