Member Info for Adw198

I think we’re on the same page thorn - the company haven’t said they can or will regularly flow 800bopd.

Rather than correct me, correct those who are repeatedly claiming that. My position is they might increase it from the current 200-300bopd - but if they do it doesn’t sound like it’ll be this year.

So bed down with the 200-300 production for winter - which imo will lead to the cash pile decreasing and even that’s assuming a deal to sell completes.

@sollidgeblue

Yes that’s a fair minor correction - 821 was the figure thorn quoted which was the 2019 metric. As you rightly say the recent RNs said they occasionally gone above this (no figure given).

Everything else I’ve said is right though isn’t it - the company haven’t said they can produce this regulatory simply they will look to see IF they can go above 200-300 figure. I’ll happily to defer to someone more knowledgeable about the likelihood of that and what the figure might be - projections of 800bopd are fairly baseless based on the companies statements

@proquo

I said I would post less, I have. I also said I’d never post again if you could “quote” rather than make up a single lie I’ve ever posted. You didn’t, instead you filtered me and then gave a running commentary about your filter list whilst spreading more LIES about the RNS. No wonder you’re so far down here

It’s not far off but not quite right / complete thorn.

The initial flow of 821bopd was its MAXIMUM.

The initial production flow rate is 200-300bopd and as you say the RNS said they will look to see IF they can increase it. Nobody said they can or will, let alone what the new average might be

Fair?

@proquo claiming

“People have gradually begun to realise that the RNS was actually quite promising wrt H1, agreement with PC etc.”

It’s 35% down on the news. It wasn’t quite promising it was bad news that H2 doesn’t appear to be commercial. We can have a sensible debate about how bad and whether the 35% drop is overdone but you have to start with the facts.

Similarly mentioning a PC deal as a positive when the RNS confirmed there is no deal to sell and it’s STILL not been drafted isn’t a positive. Especially to those like pro quo, tenbag, Abzzba, thorn, hamm and wiseowl who were insistent there already was a deal.

Don’t let them trick you twice

@asher

You’re right not to trust anyone here - even someone like me who told everyone what they bought and shared the sale details. However, don’t worry about that, don’t try and second guess motives - just look at the substance of the posts. These people telling you it’s proven to flow at 800bopd are either liars, stupid or both. Don’t fall for it.

Be careful reading what industry expert Abzzba claims folks, he’s been completely discredited here

“Given the last RNS tells us H1 is capable of producing at around 800 bbl/d our mcap is laughable”

What something can deliver at maximum isn’t the same as its average. It’s currently producing 200-300bopd and “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”.

Don’t trust Abzzba he’s massively underwater and wants to trick you

You’re getting what you deserve for all the smears, false accusations and plain old rank stupidity.

And it’s brilliant to see

Keep topping up lads from the safety of the echo chamber, but remember not to tell the wife you’re spunking the kids inheritance on a Mongolian explorer :)

Karma doing its thing on the shameless and rude rampers is glorious. Genuinely a thing of beauty knowing how much some of you are underwater

200-300 bopd has been nicely upgraded to 350bopd.

I’ll assume your price of oil received is about right. Just need to factor in corporate costs and opex - I’ll be surprised if it the money (when confirmed as coming) covers these things because the company’s target was for 2 wells to do that. Half production = half revenue.

Cans pile reducing month on month, more funds needed.

@thorn who can sometimes be reasonable losing credibility with this

“Last time I looked Petro Matad's income (post Petro China sign off) was rather good”

So you’re really highlighting unknown income that isn’t actually a thing yet as “rather good”. Astonishing!

The company presentation from July said 2027. It keeps getting delayed (not unusual for a billion dollar build) I’ll be staggered if it’s complete in 2026 and the most recent news article (the one in which H1 production was confirmed) also said 2027.

Not even a big deal just another example of wishful thinking and cherry picking sources to suit.

I’m not missing that. I’m figuring out what happens next for the company.

The refinery which is years away isn’t a magic money tree, but it is a reason to be hopeful *if* the company can get producing wells going.

“The Board knows of no reason for the ongoing Share Price weakness."

Other than its 2nd well with an apparently >80cos only being able to produce 30bopd?!

Or the fact the first well has been brought to production without a deal to sell it, despite having been negotiating for years and finalising it for months.

Come on be fair and honest. It’s perfectly possible to factor these things in and say the drop is overdone (like Doc does) but it’s not credible and disingenuous to claim not to understand why it crashed. And they’re just the known facts - what if H1 runs into any kind of difficulty, or PC start playing hard ball given they’ve got MATD over a barrel?

Cash pile is dropping and more cash will most likely be needed, so a raise looks like a case of when and how much.

“Those of us with a POSITIVE outlook think the sales agreement will be ratified very soon”

I’ve been hearing this since September when I made the mistake of buying. Teabag tossed me out of telegram because i said it didn’t sound close. Then every single positive poster insisted there was already a deal to sell. When you had spelled out there was no deal to sell in the last RNS you’ve now pivoted to saying it’s going to be a huge positive catalyst. Which is exactly the position I took when you were all telling me I was a negative trying to talk it down.

And what’s the big learning / takeaway from this - to filter those who don’t agree with everything you have to say because we add nothing. And then in proquos case to offer nothing constructive, but simply provide a running commentary to about filtering. :)

If it ain’t broke don’t fix it lads - but it’s utterly broken here. Wanting even more of a misleading echo chamber isn’t that smart.

As for the average bopd - it won’t average 300over winter imo based on the current information we’ve been given. If / when the money is finally RECEIVED for the oil (not this year imo) will that be enough to cover company costs, or will MATD still be loss making - sorry it’s definitely the latter for me. At which point there are lots more wells that need funding.

@stas what buy in? I’m not currently holding.

Stas the cash won’t be desperate it’ll be fine.

H1 was apparently already funded, altho it does sound some of the raise was earmarked for it, so mixed messages from the company.

Gobi was $1:5m

H2 was circa the same but another $2.5m if brought onto production which it’s not (certainly for now

Renewables - we don’t know how much was invested here

General running costs - I established these were $2.5m for H1

So no imminent need for cash. The issue is whether H1 produces enough to cover its own costs and all the others corporate costs. I say it won’t in which case the cash balance is shrinking month on month, which means more funds needed…

Wiseowl either isn’t aware (or more likely is and is trying to trick others) that the extract on DQE is from years ago.

Since when they’ve been paid in cash for their work on H1 and H2 - because that deal wasn’t ratified or signed.

Don’t let him trick you

@proquo is still trying with this bless him but it’s utter tosh

“Yes, amazing how many people picked apart the RNS looking to pull out every negative thread but os few focussed on that little word 'AGREED' in the text. Was an absolutely key development hiding in plain sight”

In the 19th September agreement in principle was already confirmed

“agreement in principle has been reached between Petro Matad and the Block XIX operator for the collection, metering, processing, storage, export and sale of Block XX production. The details are now being incorporated into a cooperation agreement which will then be presented to MRPAM for its approval. The parties have committed to try to have the agreement in place in time for production start-up on Heron-1 which is now anticipated to be during October.”

On the 22nd October we were told

“The Cooperation Agreement with neighbouring operator, PetroChina Daqing Tamsag, is in near final form. It includes provision for the offloading, measurement, processing, export and sale of the Block XX production. All fees to be levied are in line with expectations and the only item remaining to be agreed is the administration fee to be paid to PetroChina”

So since the last update they’ve agreed the admin fee but still not drafted things to final form.

And the likes of proquo told us a sales agreement was already in place so it’s frankly astonishing that he’s now pointing to an RNS confirming that’s not the case as a positive. Impressive intellectual gymnastics in a way!

“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”

Under review to see IF they can increase it. Read the RNS not the underwater bulls who are trying to lie their way out of their losses

The lies are busy again today

“The company has a well that is capable of producing over 800bopd”

Nope. It has a well capable of producing 200-300 and a MAXIMUM output around / just above 821bopd. They may or may not be able to get that average up but certainly not to a sustained 800bopd.

The maximum bottles of wine I can drink is probably 2, but guess what I don’t average that!