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Fair enough and think the points clearly made regarding those who actively helped in Millholland's deceit - you know who you are!

Regarding the way forward, they need funding urgently as we (or most of us know), so that's what we can expect in the coming few weeks. In fact, it would be a relief to many if they could actually get that going although we can likely look towards some form of capital restructuring to facillitate that.

The worst option is not being able to action any form of fundraising, resulting in certain 'Corporate Actions' and no doubt the loss of all shateholder value - that's a very real possibility at this juncture.

We'll find out soon enough.

Atb

That's been discussed here at some le grh Northfiekd - have a look at the previous posts on the subject.

Atb

Do we think the share price will still be 2p as they move into drilling? ;)

We just need them to drill - and they've secured the requisite funding for that!

......and if course the 'current' talks with potential Farm in Partners ongoing.

Atb

We have a better than expected oil find - a clear message from the CEO that ge wont be reliant promarily on any placing route - a confirmation by the CRO that talks are underway with PetroChina on the production sharing facilities and which will also include Partnrrship discussions.

On the flipside, we have anonymous posters here giving their own 'expert opinions' as to why the CEO is wrong!!

I expect the CEO to do exactly what he states he'll do - secure funding from the Mongolian banks, likely sort out a Partnership with PetroChina at some point and conceding a very limited placing to make up any shortfall needed.

Isn't that what the CEO stated himself......or should we listen to 'little earn' and the abundance of other 'experts' suddenly frequenting this BB??

Have a lovely day all

BIG BOLD BOOOOM in it's time PI ;)

In that mood taday but realistically patient for the next RNS within the next couple of weeks.

Atb

'BOOOOOOM Days' all the same Keith, lol!

News within the next 2 weeks should help.

Atb

RNS by the end of November anyway!

I anticipate it wont be long before we're having a bit of fun writing 'BOOOOOOM' in the posts - not long to go for that day!

I'll get mine in early and whilst some serenity exists here ;)

Atb

Agreed Capt Stanley - let's leave all recriminations & speculation on motives for other BBs to thrive upon and make this a platform for honest and considered debate.

We can all agree the longer term prospects for MATD at least, look very promising indeed - that's a start!

Atb

Very positive article indeed!

Blue day today hopefully - good buying & full Ask just paid.

Regardless of very short term price variances, good stability demonstrated at these levels, funded & ready to start moving towards actual drilling.

The hard move upwards will be soon I anticipate and with tangable newsflow expected on Rig etc.

Atb

The presentation is certainly an interesting one, albeit as many have commented, Mike Buck is a straight laced, to the point character - very factual, little charisma but the man to get the job done.

Firstly, we have a very promoising asset indeed in Heron and certainly a lot of positivity going forward from an opetational perspective, the more immediate issue being funding.

As he stated unequivocally, he's looking at options beyond a placing to protect shareholder value and specifically through a bank loan route and/or a partnership deal. To reiterate, he SPECIFICALLY stated that an equity issue wasnt the route they were looking at.

However, the bank loan would likely have to be undertaken through the Mongolian banks, which limits said routes to a loan but we should also consider the stronger situation PetroMatad are in now with a tangable asset in Heron and that the Govt. see the company as a Mongolian entity, who happen to be listed in the London market.

The CEO also mentioned certain informal discussion with PetroChina prior to Heron 1, which are now moving to a more formal basis, both from a logistical agreement perspective and the aforementioned Partnership options. The synergies are obvious, hence why many believe that such a Partnership agreement will be concluded.

Does that negate the possibility of a limited placing?

I believe that option may still be followed through as part of a larger deal incorporating a bank loan and to make up any shortfalls if required - it's not the preferred route or the one focused on, a point Mike Buck emphasises several times.

Of course, PetroChina would have their own strategies drawn up for the positive outcome that Heron 1 demonstrated, hence a fast track to conclusion of funding through that route.

From a petsonal perspective, I wouldn't mind the share price 'lulling' for a bit, as it would enable me to massively increase my own holding here and with what we can anticipatè for PetroMatad moving forward - we All agree on that!

However, I'm already in and certainly wont look to post a relentless, one sided perspective of the funding issue, to facillitate a re-entry into a stock previously exited from.

Let's actually listen to what Mike Buck is saying - in its entirety!

Atb

I actually agree and have posted previously, the same sentiments expressed by Opulentia in his 20:46 post last night ie in the event of an inability to secure requisite funding, certain 'Corporate actions' will be put through, which I suspect will be favourable to Kola and co.

In the meanwhile and as we're all aware, Art Millhilland has effectively been 'raping' the company with his extravagant salary & overheads along with being very proactive in his campaignnto disemminate 'misinformation'

I think it's a mistake to start castigating whole nations or peoples for what's transpired here, albeit accepting that certain areas have their own specific 'challenges'. Art should have been aware of such, hence his extravagant overheads funded by otdi ary sharehokders shows absolute contempt for said shareholders.

We accept there are risks in investing but also expect a certain transparency in communications and a CEO who would look to uphold shareholder interests - certainly not one gorging himself on the hard earned money put down by those same shareholders.

I hooe that somehow funds can be raised at whatever price, to at least provide some opportunity for a resoltuin to be arrived at.

Is this a bargain entry level? Perhaps, but very high risk indeed of course.

Atb & have a peaceful day

So, he lied to you CDNoilsupporter - surprised?

Atb

That was an interesting comment by Mike Buck and in the context of the company being viewed favourably by the Govt. and given oil production within Mongolia essentially controlled by the Chinese, for their own domestic market.

Atb & have a good evening

You are an absolute DISGRACE sir and little more than a con man, imho.

Excuses can be manufactured to suit any purpose but your recklessness in managing the company, beggars belief. You're meant to be looking after shareholder interests in an admittedly uncertain environment, albeit seeing you take no responsible actions in limiting overheads knowing such but instead feeding your grotesque greed......and deliberately manipulating the market to perpetuate such.

To reiterate, you can make any excuses you like to attempt to mitigate your guilt but I'm sure you're aware of the reality of your actions rather than the aforementioned mitigation you may want to hide behind.

Complete and utter wretch, imho.

Atb & have a lovely day.

Arw you guys still in 'regular contact'? - I wouldn't be surprised if he was in touch and needing your services before the next fundraising.

Atb

At this point, does one 'top up' or resign oneself to whatever outcome befalls us.....?

Interesting dilemma....

For me, this has always been a punt, hence increasing my holding level would go against that andcespecially given near term uncertainty regarding funding. However, there is always the flipside of Art pulling something out of the bag (eventually) and beyond his generous monthly pay checque....

Atb all

Yes, he's still very much 'alive & kicking' Mannan!