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It doesn’t help that our CEO is a drip. It takes a strong personality to succeed in business in corrupt countries. It’s not just a case of greasing the wheels but following up making sure you get something in return. I scratch your back now you scratch mine. You don’t roll over in hope that one day you’ll eventually get what you want.
It's highly likely that we won't see the LP for Heron before Velociraptor spuds. If we are lucky we may get it before the drill depth is reached? I am sure most sensible investors here were hoping for the LP prior to spud with the hope of top slicing a few quid and de risking their stake in the raptor drills? Looks to me now that we are all Sh*t or Bust on Velociraptor. Heron feels like a wild goose chase now.
Dozza - I hope I am wrong and you are right. We are fast approaching the end of May and there is still no news!! What's the hold up? Why no explanation from MB? What was his meeting in IOM about it must have been PM related. Why not inform shareholders? If we drift into the Velociraptor spud with no news on the LP then it really will be squeaky bum time.
I fear in Petro Matad's case it means that the oil must be kept in the ground until it can be refined domestically within Mongolia.
Hope I am wrong but its the only logical explanation for the delay.
The market seems to punish the SP at any given moment. A sound company with its product well placed and in demand.
Ripe for a cheap takeover by a foreign investor.