Member Info for bonum

It's a shame when you have 1 specific poster (or sometimes a group) hanging around a stock for months on end, attempting to effectively trash it and regardless of the underlying events relevant to the investment - PetroMatad have actually found oil and now have a very strong platform to organically build up the company to increase shareholder value.

I just played back the interview with Mike Buck and as others have commented, an very confident communication of what we have and prospects going forward.

Apart from the updates to be released, he confirmed that PeteoMatad & PeteoChina had agreed to talk on a potential Partnership agreement after the Heron 1 results were in - that's now and confirms what many anticipated would be the case, with the obvious advantageous synergies (10:30 & 15:30).

The process for the Exploitation Licence is also more advanced, with work on it having been started some time ago and in anticipation of a succesful discovery at Heron 1.

There's a lot going on here, particularly given the PetroMatad / PetroChina talks and potential link up, so certainly wont be all quiet as some would like to suggest.

PetroMatad are now sitting on a solid, tangable oil asset and are well positioned to take advantage of that, likely with PetroChina on board too.

Atb

.....that's why Art refused to take his calls thereafter!

Refer to my earlier post on the matter.

Atb

Looking very good indeed!

Yes, all very wonderful - but essentially you went to the AGM and told us nothing.

Certainly worth all the back slapping and indicative of this BB - thanks ;)

Atb & have a good evening

I find it incredible that certain people are still defending Art Millholland!!

We can all accept that there are factors at play beyond any individuals control. However, that certainly doesn't condone the extravagant spend that Millholland has allowed in the uncertain climate as well as what looks like deliberate initiatives to 'mislead' investors.

It's noteworthy to remember his PR campaign on LSE and through other forums, just before the Placing as well as the 'secret comms' to certain chosen posters here, of we are all painfully aware of.

Certain imminant outcomes seemed to have been 'strongly suggested' but where I think CDNoilsuppporter got it wrong, was that he was actually meant to diseminate that info through this forum. Art was relying on him doing that imo, but didn't rely on him to take the 'dob't tell anyone else' literally - no wonder he refused to answer subsequent calls with CDN, whilst still maintaining email contact with Jay & co, who were more compliant & willing with diseminating the 'spiel'.

Having said that, this isn't about having recriminations against anyone for past actions, that damage has already been done and I actually have some sympathy for them if they have genuinely lost money here. This is more about recognizing who we're dealing with in a CEO and not being suckered in again as soon as certain people start 'spinning the narrative', out of desperation or any other more sinister motive.

I still hold a small amount and it may even come good, or ineed be wiped out, but I certainly WILL NOT make excuses for Art Millholland - he's a disgrace imho.

Atb & have a good evening

I think that's a reasonable view Proslenes and considering the collateral they now have with regards to Heron and the indications thus far associated to it, as a valid asset to lend against and regardless of defined oil in place figures at this particular monent.

Mister Positive makes an interesting point and again associated with the obvious asset Heron now presents ie a placing at a premium price, if indeed a limited capital raise was followed through.

I believe they have everything in place to secure lending, albeit enough cash reserves to follow through on more immediate expenditure - certainly wouldn't be following through on the claims by those looking to profit from their own exit.

We have a good deal of security now that Herons come through.

Atb

I think what would slmost certainly have happened already, is that Shore Capital would have made 'informal' approaches to other parties and have a very good idea of where and how much can be placed elsewhere - that's how the City works. Perhaps another reason why Etyan and the Company are so confident in the success of the OO and the subsequent move towards drilling activity.

Of course, we await official confirmation etc

Atb

'It's a rat trap billy - and you've been caught'

Welcome back Jay & co ;)

Atb & have a lovely day

Already applied for my full allowance and some additional excess stock by selling the 'dud' shares in my portfolio - at least now they have a chance if coming good, rather than dwell in iniquity for perhaps always.

Will also implement some form of derisking as we approach drill results, hence will endevour for as large a holding as is feasable, to withold a significant amount of stock for said results.

Just my approach.

Atb all & have a good day

A Buyout and especially given the joint agreement already in place - both sides will already have considered, so news may be released out of the blue, sooner rather than later.

Does anyone really think the offer will be around the current mkt cap?

Atb

I wonder which 'big International oil company' that would be?

Agreed that there will be some level of realignment of holdings, with greater Institutional buying taking up more established, longer term positions and as PetroMatad transitions to a bonafide revenue generating company. That will be much better for the organic growth of the share price and more in line with a truer valuation of the asset moving forward - certainly well north of the current share price, when viewed from a valuation perspective solely.

All systems go with the agreements already in place with PetroChina......and obviously the possibilities also there on that front and regarding asset acquisition.

Looking very good indeed and will let my holding fulfill its true value and now that we actually have commercial oil.

Atb all & have a good weekend

Institutions will no doubt start buying in and now that derisking of the stock has occured, with tangable revenue looking to be established and the previous posts reliance on ROI from the actual numbers rather than any private investor sentiment.

It'll give us much greater stability and more significant price apprecoation moving forward - we obviously have the previously discussed Buyout scenario as the end point anticipated beyond any initial Institutional position taking.

We're finally in a place where the much more promising bigger picture can play out.

Let's see if we dont get any nearer term approach by PetroChina, even a tenuous initial one, which itself would add impetus to the price - for those 'in the know'.

Atb & have a relaxed day

I mentioned the possibility that existed, for certain 'Corporate actions' to be taken and as stated in the company notifications, in the event of inability to raise requisite funds - it will be interesting to see how Kola Karim benefits from such an eventuality and may be the bigger strategy working its way out here.

Art Millholland has been complicit in that, with extravagant expenditure along efforts to mislead ordinary shareholders to extract the last pennies from them.

We can all hear the fat lady warming up but until she actually starts singing, there is still a vestige of hope, albeit to strongly reiterate - this can only be viewed as a complete 'punt'.

Although I've only a small position here, I've looked to mitigate any loss by liquudating a part of my holding to put into my other oiler, as posted previously and for reasons already discussed. However, I'll leave the rest here ......just in case and however a long shot that may be.

Atb all & really do hope it comes good for many of the more exposed holders here.

Agreed, current price levels are a fraction of what we can expect here with Heron providing a strong, tangable platform to grow the company - or indeed as we reasonably anticipate, a PetroChina bid.

Switching off screen & looking to the bigger picture (and price rise) to play out.

Atb & have a reassured day

Completely agree with your statement Capt. Stanley -

"Best well in Block XX. It's scoring 8/10 so far with scope to improve.
The rest of Block XX alone has the potential to transform the fortunes of Petro Matad and its investors. Get in at today's prices and hold for 5 years would be my advice. It's simple, straight forward and should provide multi-bag pay back. Or flit from stock to stock as the mood takes you. Many do do that on AIM and how many make money? Not many. No pick a winner and stick with it. Buy Matad to day and you'll be buying at the very bottom before the steady rise to the very top."

Exactly what I'm doing so couldn't agree more, albeit I believe now we have a bona fide revenue generating asset, we'll be bought out well before then.

Atb

A PetroChina butout could indeed very well be on the cards Sundaysun and especially given the location and logistical agreements ALREADY in place. No doubt it would have been considered by both parties.

Irrespective, a truely company changing development here.

Atb

I'm looking for a much wider development of assets and organically building Shareholder value, now that we'll have Revenue generation to underpin that.

Mike Buck is usually very understated and dry in his communications - he's obviously VERY excited now!

I think a lot of those who've made made money on a certain other oiler elsewhere, will be adding to to their 'excess allowance' on BPC - looking good!

Atb