Member Info for Adw198

Hi Harcrhis

I’ve copied your comments below but really disagree. This is now 2 interviews where a material issue has been airbrushed. I’d be more confident if the facts are accurately set out. I suspect it is indeed PR in which case it reduces my confidence in the other topics. We all know this is a huge issue for the share price.

“Adw, this is a short interview at a mining conference and a chance for Segun to promote the company and the investment case - of course he isn't going to talk about a short term issue that has no bearing on the long term investment case such as the possible $2m tax liability. The time to address it was at the IMC last week and he did, right at the start.“

Personally I’d rather they use cash to fund Douta, next best would be buybacks.

I’m sure there are smarter people than me who can explain the logic, but I don’t really see the advantage in paying out to shareholders and then borrowing at significant interest rates (and conditions) to fund Douta. The other consideration is the 30% we don’t own needs resolving. Personally I’d love a partner to limit / mitigate the risk to us.

These interviews that don’t mention the Osun issue slightly unsettle me - it’s an elephant in the room I’d rather we face.

Where has the utter bull s h I t e about H2 producing this year come from? Absolutely no chance - they told us it was suspended and the work to decide what to do next would take months

“The Heron-2 well testing has not achieved the flow rates we were hoping for given the enthusiasm with which Heron-1 produces, but the presence and recovery of oil is encouraging and we have some work ahead to understand the outcome so far and determine the forward programme for the well. This work will be done over the next few months as we finalise our operational programme for 2025."

@thorn

I take that to mean that’s the MAXIMUM it can produce. Maximum and average not the same.

“… 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”

They’re looking to see IF they can go higher is my reading. They don’t say how high.

If you expect 1000bopd then I just ask you report back your deep disappointment and revised assessment of the economics if it infact stays only producing 25% of what you think

Can you share the extract from the RNS that says 1000bopd is quite possible?

I wonder if the 5 people who liked his post realised he was lying, or were taken in by it.

Don’t let this liars trick you folks

Hamm trying to trick people there projecting that MATD somehow produce 4 times more than they do, whilst achieving more than the price of Brent - some sales deal that. :)

Now, ask yourself why an investor needs to LIE about the current position - are the real facts so unpalatable?

@hamm

I don’t enjoy being personal with you because you absolutely stink of someone out of their depth who is being played. You’ve gone from begging people to tell you what they think, to telling people you’re buying more, back to fear. It’s classic overweight behaviour.

I’d recommend you get yourself comfortable and trade as you see fit, managing exposure.

Tenbag popping up to pretend he’s not stockmaiden.

Textbook

“Did Matd ever said anything about 4-6 wells?”

Ish. They said 2 producing wells this year and then 5+ each year thereafter.

The 4-6 was brought up by your fellow bulls. All I did was highlight the costs of those wells. It’s possible they could be funded other ways - people can have an adult conversation about that. But it doesn’t change the fact of capex

Stockmaidens posting volume appears to be similar to the Tenbags drop off.

@stockmaiden

I’m not invested here. I don’t know what’s childish about stating the drilling costs.

Perhaps you could tell us where that money is coming from?

If / when there are 4-6 producing wells the facts will be different to now, I agree with that. The question is how that’s achieved when the investment needed is circa 75% the current value of the company

To call a Mongolian explorer a”fabulously easy” business model is bold! Especially when there’s no deal to sell and 1 producing well (from 2 drills on the field)

“A little bit of funding perhaps to drill 4-6 wells next year and we'll be off”

4-6 producing wells will cost circa $16m-$24m. Not far off the current mcap - good luck raising that

What lie Abzzba? “Quote” a lie. Nowhere does it say we’ll be able to produce an average of 800 so stop pretending it does say that, or that will happen.

@investor

I wasn’t shaken out by the MMs - I reacted to a dreadful RNS which undermined the entire business model imo. That might be wrong but that’s my assessment - I can’t get round the need for another raise and then a fingers crossed new drill programme. The field isn’t playing as they expected. It doesn’t mean it’s not viable but the short medium term needs lots of investment. And MaTD is currently a loss making venture and will be for as long as only 1 well is producing.

I don’t dismiss charts but to me they’re always 2nd to fundamentals. I don’t expect it to follow a monthly pattern from 2022, I think that’s very wishful thinking but I can’t say your wrong, just that I disagree. I think you’re one of the genuine and reasonable ones so I hope you make the best decisions for you from here. But for the reasons given I think this is now on a downward spiral - I’m sure they’ll be short term spikes here and there and I FULLY EXPECT it’ll go above my sale price at some point but it’s not for me. When the facts change my opinions change so I’ve cut my losses and tried to lean a lesson.

I can’t really see round a raise - half of the planned income (H2) appears to have gone. I have acknowledged that * if * they manage to get it producing then things might not be so bad, but my reading is that’s not likely. So how else, other than a raise, will this company fill its funding gap - because I don’t think 1 producing well will cover all company costs- especially not at 200-300bopd.

They went thru $2.5m in H1 with no material operational activity.

And I don’t own any. If I wanted to though I could buy in for significantly cheaper than I sold 1 week ago.

I’m hardly bragging given I lost out for investing in the first place but it’s not really the time to mock my sale!

FWIW I think buys at this level will do very well - even when I sold I said it might go higher in the short term (I was wrong again!) but it’s just not an investable company with another raise coming.

I’ll keep an eye on things and correct the blatant lies that get spread here though. And I’ll revel in how much the idiots are losing, just like you revelled in mine. What goes around comes around and you lot are getting served up top tier karma

Proquos new game of filtering then addressing mushroom posts he pretends not to read is brilliant.

I didn’t make 600 negative posts I appraised the positives and negatives - sadly the facts turned out to be more negative. Which is why i then sold. Fortunately I got out before another 15-20% drop in the SP for an RNS proquo is now claiming was infact promising. Go figure!

I don’t know what I’ve said you’re taking issue with, or why thorn. If you could follow my lead and “quote” the statement and then explain that would be good.

My big mistake here was investing. Given most of my concerns came to fruition, most notably the fact there was no deal, I don’t know why you keep mocking my intelligence. Is it jealousy that I sold out some 15-20% higher than your top ups?

@proquo had the chance to shut me down for good - he just needed to quote a lie.

Instead he ran away and no shouts from the sidelines spreading lies about what the RNs said

I say H1 won’t produce >300bopd over winter and will never average >800bopd.

Those are just opinions. Others are welcome but if you think much higher then be prepared to come back and admit it’s not as good as you thought if it doesn’t happen. Just like you all should be doing about H1

Please do correct me - what exactly are you taking issue with? This is what you claimed and why I requoted the 821

“The facts are that the RNS stated that the Heron 1 well may well produce oil at a higher rate than the initial well flow rate of 821 barrels a day”.

The RNS didn’t say that, but if you can quote me where it did I’ll re assess