Member Info for Adw198

Agreed BP.

But if they announce one the SP will rightly make a descent and sustained move up. Perhaps he’s waiting for that before raising, modestly, before cash lands. We’ve seen how quickly PC move - 3months just to sign a contract that they then decided wasn’t fit for purpose.

If I was a holder I’d be less worried about a raise and more worried about there not being a raise on the basis he can’t get one away. I don’t think that the case because everything has a price, but ultimately it’s a business that needs propping up just to make it through 12months of treading water.

“It's shown the criminals for what they are really about. . Scaremongering with absolutely no evidence to back up their claims, just keep saying a blatant lie for long enough and it becomes the truth.“

Saying you think they’ll be a raise isn’t a lie if you really think that. In my case I very much think that. It’s a binary outcome, I’ll either be right or wrong. Just like those who insisted there wouldn’t be one will be .

I’ve already acknowledged I’m surprised there’s not already been one. Again, I’ve backed that up with logic and also flagged potential positive reasons why, ie because a sale might be close.

One way another the money is running out here.

I hadn’t realised there would be a surplus, ie I thought the refinery would take all that Heron can offer.

@gravy

“What you fail to grasp Psycho is the fact you are "on another board" yourself.

And so now is your hero Doc.”

Yes I’m posting on a board where I no longer hold shares. But you didn’t want me posting when I did hold either did you? And in any case I’m posting about the company, not following someone around because I’ve lost my mind in anger and frustration.

As I keep explaining this isn’t your playground mate, you don’t get to decide who can post, but you are free to filter so you don’t need to deal with forensic analysis if it unsettles you.

“ADW, there's the law they passed giving the Mongolians first refusal to purchase Mongolian produced oil.

But you knew that?”

Hi Thorn, no I didn’t know that so thanks for sharing. Genuine question then…How are Chinese national interests supported by a Chinese company being forced to sell to Mongolia?

Ha he’s still following people round other boards because he doesn’t like reading what you say, yet can’t bring himself to just filter. He did the same to me on Thx, posting inane amateur hour deramping - it’s doubled in value since he tried that and got laughed off the board.

Probably why he feels the need to lie about how far down he is here. And there’s still a raise to come.

Lovely indeed!

So how keen would the Mongolians be on a Chinese takeover of a Mongolian oil field?

“A raise now still makes them wrong back then when they repeated daily, for months, that it was imminent.”

The backtracking has begun, Proquo and the rest who were adamant there would be no raise will need to find a new angle when it come.

Does *NOT* cover the bills!

The logic is clear and has been provided several times. It’s pretty obvious - 160bopd does cover the bills.

How about one of you who doesn’t believe they’ll be one share your reasoning?

A few of you mistakenly claimed MB said the produced oil exceeded monthly running costs. He didn’t say that because it’s not true. He said the (stockpiled) oil in storage exceeded monthly running costs. That’s obviously very different.

They haven’t got enough income to cover expenditure for the next 12months, hence many of us have been saying a raise is required. Yes it could be just a private one with Petrovis and yes it could be a relatively small amount to just get by before a JV is announced.

But let’s all start with an acknowledgment that income < expenditure and not have the nonsense misquoting what he said about monthly running costs at the AGM.

Investor now debating AI is an amusing and delightful plot twist here. :)

And let’s face it,

“Heron-1: Current ~160 bopd, potentially increasing to 300–821 bopd with modifications. Assume 250 bopd average for valuation (midpoint of stabilized range).”

This is highly optimistic.

Still waiting for you to evidence where MB spoke of a cash injection.

Like we’re waiting for your explanation as to why DQE aren’t drilling for free / deferred income?

You were caught lying within a few days WOS so pipe down with the gleeful war dance.

Just because someone says something it doesn’t mean it’s true.

Eg investor claimed

“He couldn't have phrased the question in a more negative manner…. And also stating that 160 bopd is a definitive maximum for H1 when we don't know that yet.”

Definitive maximum?! What Wigster asked was

“It is rumoured that Petro China are interested in buying Petro Matad's Heron asset. What value you would put on that asset, given recent RNSs from Petro Matad reference the output from Heron 1 (160bopd) and difficulties with Heron 2? What would you consider a fair price and what would you expect Petro China to offer for the asset if, indeed, they were interested in it? In this instance would the Market Cap of Petro Matad (c£18.6M) have a bearing on any offer?”

Investor is a liar. He’s also welcome to ask his own questions and share the outputs

“with minor adjustments to facilitate regulatory approval”

Which has NOT been provided

You seem somewhat rattled by a very simple question as to why DQE didn’t accept a deferred payment for the work they did on Heron 1 and 2.

Perhaps now both have underperformed they’ll suddenly be happy to accept such a model?

I say that’s less likely and if it does happen the terms will now be much more in their favour, as the risk / reward profile has changed.

It’s illuminating reading previous news releases to see how badly things have gone here against the stated plans.

This one’s only from July last year too but incredible there’s now Fear, Uncertainty and Doubt about what the export / tax position is.

“The Company and MRPAM have continued engagement with PetroChina, the operator of the Block XIX exploitation area and facilities located immediately north of Block XX, for co-operation with production operations and contracts to process crude oil at their facilities, crude export and sales at least during the initial phase of the Heron development.”

I’m genuinely wondering why they didn’t agree deferred payment for the first 2 weeks they drilled for us, both in the same calendar year?

Perhaps it’s this bit from February 22 Master was asking for an update on?

“DQE International's suggested cooperation includes the possibility of payment from production revenue, partial payment in oil, and some risk sharing. This is an intriguing proposal from Mongolia's most experienced service provider, and the parties have set up a working group to determine urgently how such a cooperation could work and to try and reach a conclusion early in Q2 so that the 2022 drilling season is available for the implementation of any agreement reached”

Perhaps they’re less keen based on the performance of Heron 1 and 2? As previously established this type of deferred payment deal is now the ONLY strategy being pursued by the company as they can’t fund development themselves.

Of course DQE and anyone else will be aware of this and use it as a negotiating tactic.