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RNS out in the real world.

Mike Buck, CEO of Petro Matad, said:

"We continue to push forward with our 2023 work programme which of course includes urging the government to certify Petro Matad's Block XX Exploitation Area as special purpose land. Meanwhile we are delighted to have spudded Velociraptor-1 which we have wanted to drill for some time. Encouraging results here would significantly de-risk two adjacent prospects on the Raptor Trend which together have a resource potential of an additional 375 MMbo.

I would like to thank our loyal shareholders for their continued support and hope that the recent spudding of the Velociraptor well demonstrates our firm commitment to our work programme. I very much look forward to updating you in the coming months with our progress on multiple workstreams that are now in play."

Clearly says 'in the coming months' and not 'days' or 'weeks'.

Don't get me wrong, everyone wants this drill to be a success but the truth is there were 4 wildcat drills in 2018/2019 and all failed to find oil. The share price went from 8p+ down to 2p during this period and it was only the success of Heron-1 which finally kept MATD alive and got the share price back to 6p, from where it then drifted back down anyway.

The silly thing is that MATD knew there was oil in Block XX all along but they were always chasing after the bigger prize of hundreds of millions of barrels of oil elsewhere in Mongolia.

I am quite confident that they will get the Land Permit but it will take quite a while longer yet. In the meantime, Velociraptor will either give a large rise if it is a success or a big fall if it fails to find oil. Toss a coin - take your pick.

I predict about 1.5p if Velociraptor is a fail - and looking back at the previous drills in central Mongolia - Wild Horse, Red Deer and Snow Leopard - this is a very strong possibility. The only oil that has ever been discovered in Mongolia is in the Block XX area. All of the multi-million barrel drills in the other parts have come up dry. What is different this time?

There is now some really desperate posting here as is reflected by ludicrous subject headings and the nonsense use of capitals, etc.

As far as I can see this is very easy now.

The Velociraptor drill is only to 1500 metres and will be finished in 30 days max, so less than 4 weeks to go.

There is not a hope in hell of the Land Permit being issued before the Velociraptor drill result but it doesn't matter a tot. If the Velociraptor drill hits oil then the share price will rise hugely, probably by a lot more even than when the land permit is issued.

However, with numerous failed drills behind them, the expected Velociraptor result will be no oil, in which case the share price will probably fall to about 1p/2p and this will be an excellent opportunity to buy in cheap before the land permit is issued.

Only fools will be lured in by this stupid ramping. It is time to just sit back and wait for the Velociraptor drill results. Either result - oil discovery or no oil - is going to give a win, win situation.

Worst interview ever - I couldn't hear a word he was saying and it looked like he was sitting in a tiny bedsit somewhere in this country by the look of the radiator and with his dinner plate on a tray behind him.

Looking into it, he has even been a member for more than 2 months but this is his first post today. I repeat, what a tw*t!!

Same here indeed.

It might be more sensible to suspend 'JackOfDiamonds' from posting on this board looking at the content of his first-ever post. What a tw*t!!

Will that be a record - to suspend him after 1 post??

Who remembers the Snow Leopard, Red Deer and Wild Horse exploration drills in 2017 and 2018? They all failed miserably. At least the Velociraptor drill is shallower, and hence quicker and cheaper, but as usual with these drills the COS is very low. It might hit oil, who knows, but if it doesn't then this time they have a discovery to fall back on (subject to the land permit being issued).

MATD have previously spent many years and endless amounts of money chasing after the huge potential oil discoveries only for them all to fail to find oil. The only oil they have ever discovered was in Block XX, where they knew all along that flowing oil existed. This is most likely to be another wild goose chase that comes up blank but at least this time they still have a discovery to fall back on. Also this drill is relatively quick and inexpensive.

This is easy now.

The land permit won't be issued before the Velociraptor drill result. If the drill hits oil the share price will rise hugely, probably by a lot more even than when the land permit is issued.

However, with numerous failed drills behind them, the expected Velociraptor result will be no oil, in which case the share price will probably fall to about 1p/2p and this will be an excellent opportunity to buy in cheap before the land permit is issued.

FAB looks good....................up 26% and much farther to go tomorrow............

It must be 5 times now that the share price has tried to break 7.5p and every time some annoying sells have turned up to push it back down. There is nothing going on at 7.5p so they might just as well wait and sell at 10p or whatever.

"The Company has been approached by Michael Fleming, a financier and shareholder, to request an exclusivity agreement in relation to the business (the "Agreement") which Amigo has agreed to. This is to allow Mr. Fleming, to explore finding and completing a debt investment in the Company or its subsidiaries. The period of exclusivity expires on 6 September 2023."

The period of exclusivity expires on 6 September 2023. This is a very generous amount of time to try and find a debt investment here to turn this around. It sounds like the wind-down will proceed at a leisurely pace in the meantime but this is a huge lifeline.

I agree with MARK@1973 that this could quickly return to Jan/Feb levels of 2.5p to 3p. It is a pity that it was so difficult to get in on opening,

ATB

Yes, there has been an announcement the shares are going to be worth £1 each - so your holding is now worth £110,000 - good luck!!!

While there is a lull here perhaps someone could help with a couple of questions I have regarding the recent 'Thar Block VI - MOU to develop 1.32 GW coal power plant' RNS.

I was of the belief that the whole point of the power plant as far as ORCP is concerned was to use coal from Thar Block V1. So what exactly does this mean:

"Through this MOU, TEPL will assess the viability of developing: (i) the power project at Thar Coal Block VI as originally planned ("Project Option 1") or (ii) relocating the power project to KE's owned land located at Port Qasim, Karachi ("Project Option 2"), if found technically and commercially suitable and subject to obtaining all required approvals and consents."

I assume that Project Option 1 will use coal from Thar Block V1 as that is where the power plant will be sited. But does Project Option 2 still involve using coal from Thar Block V1? If not where is the coal coming from and what is the value to ORCP.

Also if the assessment is being made by TEPL and Thar Electricity (Private) Limited ("TEPL"), is a 100% owned subsidiary of Oracle Power, why would they even consider using any other coal than coal from Block V1.

Next the RNS says:

"In order to produce the 1.32 GW of electricity, the Thar Project would require 7.6 million tonnes per annum of Thar coal which may be secured from one of the two operational mines in Thar."

Is Thar Block V1 one of these two operational mines? If not then what is the benefit to ORCP?

I keep rereading the RNS and I just can't make sense of it. I know that this news was very badly received by the market and in trying to work out the reason for the share price fall I have come up with a few alternatives.

Was it badly received because it was confusing?

Or because it implied an option that was not going to use ORPC's coal deposit?

Or was it maybe badly received because it just did not fit in with the current CEO's green, green, green strategy?

Cheers in advance.

Personally, I would just like to see a rise like that here and as I think we all know and agree that is very much overdue.

That should read: " now that the Chinese are catching up on things post-Covid.

Sometimes my posts get posted before I have finished them - which is probably caused by both my cluttered desk and my super-fast typing speed which sometimes sees me hit the key that posts posts by mistake.

I see that GCM resources, who have a very large coal asset in Bangladesh, and who like ORCP have had a long-term plan to use the coal to produce electricity though without any success or progress so far, have had two 35% rises in their share price in the last few days, all on no news. All in all the SP has risen from 3p to as high as 5.75p.

And they haven't even had a MOU on the coal-to-power project as we had the other day, nor have they other projects such as the Green Hydrogen and gold prospect.

Of course, they may just have a placing on the way (as this sort of rise often happens before a placing) but equally they may have some progress on their coal-to-power project to report nw that the Chinese are catching up on things post-.

We could certainly do with such a rise here, whatever the reason.

Just need 7.5p to be broken now. There have been several attempts but each time a few silly sells have taken it back down. Have some confidence please.

I remember that EME rose by 100% on 2nd Feb 2023 and that was just in response to a ConradAsia presentation highlighting the GSA and Divestment. Now we are getting near to the real thing.