Manro: ' one of the biggest oil reservoirs in the world which have to be discovered yet. '
So not discovered yet? So might not be there?
If it's there and Petro Matad still have the exploitation rights and funds to find it they should do very well but there's a few 'ifs' in that sentence and the only certainty is that it won't be happening this year.
Manro I've previously thought you to be unreasonably optimistic about Petro Matad you now appear to be unreasonably pessimistic?
Go back and look at Mr Bucks presentation and if you can be bothered the posts of that time. The potential positives and negatives were spelt out very clearly by posters. Mr Buck outlined the full range of possibilities but did tend to the positive which is part of his job. He did however specifically mention that nothing was guaranteed and it all might come to nothing in 2020.
He's a good CEO and in time I'm sure it will be OK. How long and how OK however is unclear. Unfortunately for Petro Matad there are currently a lot of other undervalued oil stocks out there primed to bounce on oil discovery or oil price recovery.
It might still be that the exploitation license comes in time to drill Heron this year and it flows well.
Well said Tarth.
Perhaps each and every one of us could make a concious effort this weekend and over the coming weeks to help others out in some way? To check up on someone? Anyone on the street who doesn't look to have friends or family calling around? Perhaps just ask them if they're OK or need anything? Old and struggles to get to the shops or is too scared to do so? Have any of us got children old enough to help out? They might need a kick up their back sides to do it but it's important to instill in the young a sense of community responsibility.
Just a thought and sorry if it's a bit up itself.
Just a thought.
Clapping on your doorstep is fine but lets all try to go one step beyond?
It's very difficult to know where to invest to make money or more to the point not to lose money?
Well I suspect quite a few might view 88e as a pretty good option right now?
Other oil stocks are stagnant and bobbing up and down on the whim of the decisions made by Saudi, Russia, Donald or just as a reaction to Covid and the world economic situation?
88e has upside aplenty in the next few weeks and months and many may see this as a good port in a storm to make some profit in difficult times?
Over 10 years Alexa if you choose the right companies on the right markets.
With AIM explorers and producers 'Sell the news' is the right thing to do 90% of the time.
Then buy back in and wait patiently for the next rise on news.
Just the way it is.
No one was promised anything Simon. The Mr Buck's media presentations have always struck me as being very balanced and quite clearly raised the prospect of 2020 being a year where nothing happened. You chose not to see this possibility despite it being stated in plain English.
Within the last month or so you've posted about this stock being about to soar and talked about £1 and even £10 parties.
With expectations like that I fear you were always in for a let down.
My expectations are that 2020 will indeed be a wasted year. The funds will run down and they'll fundraise late 2020 with massive shareholder dilution at 2p a share or less? I look forward to considering being on-board for the 2021 drilling campaign. Heron 1 flow test and other wells and hopefully block V?
Hopefully whatever party wins the upcoming election will be as supportive to Petro Matad as the current one is (?!)
Ojay we're obviously both missing something here?
At 08.06 this morning you posted that the "couple of moths" schedule would be more than enough to get things sorted.
Interestingly given your need for quotes to be accurate you yourself have put that phrase in quotation marks when of course what Mr Buck actually said was a "number of months'. So an inaccurate quote.
I just pointed out that if you're going to quote someone the quote needs to be accurate which here it quite clearly isn't.
A "number of months" has, in my opinion, a quite different meaning to a "couple of months".
No confusion at all there then?
Post as much as you want for as long as you want in the hope that time, posts and obsfucation will blur this or simply conceed the point and move on?
Of course Ojay.
Here's a quote from the RNS. It's a cut and paste so I think we can both agree that it's accurate?
It was attributed to Mr Buck, CEO of Petro Matad in his company's operations update and relates to the timescales for issuing of the exploitation license that they need to progress their Heron well operation:
' although we expect it will take a number of months for the Government to go through its review procedures.'
I'm done now but no need to continue as that appears to have clarified whatever doubts there may have been?
Pedantic I know but a 'couple of months' for me is two.
'A number of months', which is what he said, is somewhat more?
And yes another question mark. I see from your post Ojay that you're 'sure' about what MB is doing.
I think it's best with Petro Matad not to be sure about anything until it's acutally happened.
Perhaps you should use more question marks?
From a company perspective I suspect that the best outcome might be limited work on Heron this year to get it up and running and helping to pay the bills. Minimal fund raise to achieve this and then hope for a rise in the share price and price of oil by 2021 when they can drill the remaining Heron wells/injectors and possibly Block V although this might slip to 2022?
Advancing where they can but still no time line for drilling activities or gaining the exploitation license running into the Mongolian election.
No real handle on how activities are going to be paid for.
The loss of Block IV and potentially V if the moratorium isn't agreed to.
But they've still got Heron and it may be better than they hoped, but when will they get to flow it? This year?
We don't know how HH2 is doing but it is true that if 5 oil tankers a day were leaving the gates we'd be pretty reassured that everything was OK and our investment likely to be a good one.
The converse doesn't necessarily mean that there are serious problems but unfortunately that can't be excluded with so few oil tankers being seen. With time that scenario becomes more likely?
That's how I see it anyway. No RNS next week and minimal tanker numbers and I suspect the share price will be abject.
Let's hope for a good RNS on Monday. Given the current situation I'd appreciate an operational update RNS from Mr Sanderson even if he's still only half way through cleaning up/testing.
Hope you haven't gone yet Grow Up?
Well said that man. To think how these posters would have whinged had posters gone onto the SXX board to point out how it was a far from one way bet and really rather risky and that they might loose everything. Which is precisely what some posters did say and boy did they complain about it! And yet when it turns out these posters were right they complain all the more and do exactly the same thing on the Anglo board. The only difference, as you say, is that this is a mature well managed company that will do exactly the opposite to what they're all now predicting and should provide excellent returns for those investing at these levels.
It appears that whatever these posters do they get it wrong. Why they want to point that out the world like this defies me.
Because I'm invested Dodge I just wouldn't be ****y enough to suggest that I'm a savvy investor, if for no reason than that would be laughable with a share price of less than half a penny at the moment.
I'm surprised that you think that your UKOG investment has worked so far for you Tymers. You do realise that a rising share price is usually needed to make that claim?