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Despite my frustrations yesterday I'd have to agree. It's good to know that we are funded for Heron as soon as that is ready to go it's good to be proactive and start drilling which required the raise. As much as that left a bitter taste I do think it's a wise move. Hopefully so anyway, we will know soon. As long as we get the LP sooner rather than later, that's what matters the most.
GLA
Totally agree Hamm. What is the point of finding more Oil when we are not allowed to extract it?
Ridiculous that we have been waiting for 4 years now and we still have nothing solid from the MG at all.
The LP would give this share a lot of security and therefore be transformational for Matad and the SP.
Without the LP still being granted, there is still a lot of risk with this share and the market clearly knows that given it's reaction to yet another "Still waiting" RNS today.
If MB makes Matad into an oil producing company then he will be very, very rich. So I doubt that he has any nefarious reasons to keep Matad from becoming successful. The whole hold up here is the MG. Either they are inept, corrupt, or both.
It's hard to believe that we have discovered oil years ago and we still haven't been granted a LP.
I do agree with Hamm when he asks questions the logic behind looking for Oil again in such a country when they just bring everything to a grinding halt after doing so.
The MG are an absolute joke. We have Oil, it's there ready to make lots of money for both the MG and for Matad, and yet here we are, still waiting, still no definitive deadlines, still not entirely sure if the LP will ever even be granted.
They've made us wait this long without any solid reason relayed back to us on why we are still waiting.
The markets have reacted to this RNS negatively for a reason.
I still believe that this share is a massive opportunity, but it is frustrating beyond belief now.
Furion ... It wouldn't surprise me at all because the amount of times that the volume of Buys way outnumber the Sells and yet the SP dips for this share is ridiculous.
Whenever the Sells outnumber the Buys though, the SP seem to dip and then some.
Why would they though? Surely they would want everything to be ready and immediately operational for when the refinery is finished and ready to go? I do share your concern though, we can only speculate at the moment.
I bought 100,000 more today which were incorrectly marked down as a "Sell" on LSE ...
It does always seems to be that "Buys" get put down as "Sells" more than the other way around, and large Buys always get put down as "Unknown" ...
From what I gather LSE can't tell if they are Buys or Sells themselves.
On some brokerages / other L2 they will state if they are "Buy" or "Sells" rather than "Unknown"
On IG it shows MATD as finishing 5.9% up today, where as here on LSE, it says that MATD finished 0.69% down.
My ISA is full for the year unfortunately, otherwise I would be averaging down from 4.7p
I acknowledge that there's a lot of positives to this despite the obvious negative of being down again at the moment.
Hopefully that will change again soon.
GLA