Member Info for Allan1953

Thank you for your post TBT.

As you can see I've posted 23 times since Nov 2020.

I believe that says it all.

Thanks TBT

Yes, SenatorPrime I did listen to the Word Salad Mike Buck said during the update. It was a lot like your Word Salad you have uttered since you became a member. Since March 2026 you have posted 1,135 posts or approximately 12 posts daily..

I believe when I have made a post on this forum, it has been important, pertinent, concise, relevant and appropriate.

At no time can I find information that says Petro Matad has applied to the Mongolian Government for financial investment to provide additional drilling capabilities/facilities for Block XX oil field. Why is this?

It seems as if the current Farm-In party is having cold feet about investing in the Petro Matad Block XX oil field?

Thoughts on Petro Matad Operational Update May 28th 2026

1)Share price fell due to disappointment over slow Farm-In progress despite operational stability and imminent approval of 2026 Oil agreement.

P.M. has circa 35,000 barrels of oil in Block X1X storage tanks, worth over $1.5M

2) Production of oil is as follows:

Heron 1 averaging 126 barrels per day

Gazelle 1 averaging 123 barrels per day

Total daily average 249 barrels of oil per day

This is insufficient to transform the company and its share price.

3) Farm Out:

This has stalled as the counterparty chose to do some additional seismic reprocessing of Block XX Data. Feed back is awaited. This is disappointing but understandable from the counterparty’s point of view, going on P.M.’s past performance.

4) Work Programme for 2026:

P.M. has received an offer from a seismic acquisition contractor with experience in Mongolia to conduct a high resolution 3D seismic survey over Block XX exploration area. P.M. is evaluating the proposal as crew can start June/July 2026.

5) Petro Matad is NOT considering undertaking work over activities at Heron 1 and Gazelle 1. However, P.M. is in discussion with a specialist company with capability to work over Heron 2, to see if it can improve flow potential of the reservoir at Heron 2. Also, P.M. is awaiting feedback from the Well test contractor to secure a cost effective proposal for the testing of the Gobi Bear 1 Well.

6) Why has the share price dropped?

Farm-In disappointment due to the potential partner requiring more time to review Block XX seismic Data.

Petro Matad management itself said it was “Disappointed” at the lack of progress of potential Farm-In.

Investors have interpreted this as a set-back for Funding, Development Pace and Long Term Growth. The Farm-In was the Primary driver of the share price drop and Lack of Excitement from Petro Matad.

Oil production levels are steady, but too low to be Transformative for Share Price.

Petro Matad doesn’t seem to have any urgency to drive the company forward or have a Plan B.

Until Farm-In partner is secured investor sentiment remains cautious.

CONCLUSION:

Petro Matad requires new dynamic Management and new strategy to improve Oil flows and share price.

It appears the Management of Petro Matad have sat on their hands since the operational update in December 2025 as there has been no improvement in oil flows or any ideas on how to improve oil flows for Heron 1 and Gazelle 1 where total output is 249 barrels of oil daily.

Mongolia is building a pipeline from Petro Matad’s oilfield to the new Oil refinery in Dornogovi Aimag. Currently Petro Matad produces 249 Barrels of oil per day. Currently Mongolia consumes ~34,000 barrels/day more than it produces. The new Mongolian Oil Refinery is expected to manage about 30,000 barrels of crude per day. How can Petro Matad be expected to provide the increased daily rate of crude oil to supply the new Oil Refinery without new financial investment from

This is a message for WOS:

I have no reason to make an enemy of you but I have never read such utter gibberish as when you wrote on here at 6.26am "Petro Matad will be Dividend paying company within next 24 Month.."

I am a LTH since 2010 have posted less than 20 times. If I post it is usually something of interest to shareholders not endless word salads issued by you to pump up the stock.

Please don't write on this board without relevant or useful information and stop wasting genuine shareholder time.

I await your vitriol with bated breath.

While the operational update was disappointing due to the oil sale agreement being still unsigned Mike Buck has confirmed that executive copies had been uploaded to their online system for signature. This should mean the sale of oil and receipt of approximately $1.1M should be received shortly thus impacting the share price.

I'm pleased to see operational costs are being addressed which will ultimately lead to increased profit for the company and therefore an improved share price for shareholders.

It was also notable that Mike Buck has confirmed at the press conference what we already knew, that he had invested $100K of his own money in the purchase of PM shares which he is currently holding at a substantial loss to himself. Also that he is sitting on substantial losses from his previous PM investments. So he has every incentive to ensure that the agreement is signed asap, which will result in the oil already delivered realising approximately $1.1M to the company which will also improve the share price and steady investors nerves.

Also once further remedial work has been carried out at the well head Heron 1 should be able to steadily increase production of oil from 200bpd to possibly 400bpd further impacting the share price, and all in 2025!

There are other promising itemsPM is executing but these will come to light at a later date.

I do not idily post this message, for you can see how many messages I have posted online in the 16 years I've been a PM shareholder.

What type of imagery does Matad use to discover new oil fields?

Hi TenBagTag

Thank you so much for your reply made at 14.57 today. I very much appreciate the content you have supplied to the BB.

This is a considerable amount of money for Matad to receive and will be at the most important time i.e at start up. Instead of first income going M.G. the company will benefit and those funds can be used to fund further wells.

Although I am a LTH of 14 years I only post when information is required and important. Thanks once more TBT.

Ten):

Are you able to explain your statement "Recovery of $62M"? Please

Hi Thornogson

As a LTH since 2010, I was interested to learn in your comments you stated the profit per barrel of oil is $30.

I should be very grateful if you could elaborate on how you arrived at that figure, as I thought the profit per barrel is substantially less than that?

Thanks guys for clearing that up.

Mike Buck stated in the RNS 25/4/24 the following:

"We will buy ourselves a long-delayed operating window with the local approval for 2024 if we can get it, but we do not want to go through such a process every year."

What does this exactly mean?

What's happened to an AGM announcement and AGM?

I am an infrequent commenter on this bulletin board but am I right in expressing my opinion that between March and end of April 2024 we should be starting oil production at Heron 1? Looking forward to your thoughts?

Hi everyone.

This might read silly but how do I go about applying for my warrants?

TMK Energy, Lucky Fox 3 spudded 18th May 2023. Should take 14 days to drill.

What would be the the outcome if Mongolian Government denied Land Permit to PM?

Thank you D1nger and Mr positive for you grateful information. I'm a LTH of over 10 years and very rarely comment. However, I believe this is going to be an exceptional year for PM. All the stars are in alinement. Good luck to all shareholders.

Please can someone provide a capital value of the company when in oil production.

Hi everyone. I am a LTH of over 10 years and I look at this BB for comic relief when I read most of the posts. There are a few posters who make really good comments, intelligent insightful even. But some are completely wacky and a posted to take a rise out of people.

Lots of people comment on Mike Buck in a spiteful manner. This guy is just doing his job. Dealing with a Government is not like popping down the pub and having a chat with the boys. It takes patience and excellent communication skills. Yes we all want him to succeed it will make us all rich. Mike Buck as approximately 9 million shares. He wants to get oil out of the ground so that he can enjoy his retirement and confirm his legacy.

So, let him get on with leading his Company into becoming the main oil producer in Mongolia. And, if you read between the lines he wants to find even more oil, which will make us even richer, just by sitting in our chairs.

As someone wrote previously, in 12 weeks we'll be producing oil.

Good luck to all LTH's