Member Info for dai2belts

Should tempt

24p.... x12 flaunted, x4 would be very nice, even x1

https://www.voxmarkets.co.uk/articles/petro-matad-progressive-d122adc/

Very brief dip below 2.2p, then a 4m trade, not sure if it was a 2.2p buy or a sell(flipper) on the tick up..

Wolf often peas people off...

If ever questioned about a share you hold, one your looking to get out of as the story has changed, keep quiet until after ...

I took offence for you Kev ;)

Horult the Horrible lol

Currently 1,113,883,601 shares issued and fully paid....

24% is ~267m

looks like they worked 24% from the new total after adding 350m to the current issue..

Is that how its done ?

"Conditionally, in aggregate, a total of 350,000,000 New Shares will therefore be issued, representing approximately 24 per cent. of the enlarged share capital."

To talk about completing Heron and having enough cash to last until 2025 without explaining what that cash does not cover Heron is misleading people....

Like He1, saying they were funded for Itumbula at the same time they announced the start of Tai testing, then claiming they only needed contingency funding to ensure they could complete..

I bought some at 2.25,

Volume dropped off and it ticked up, I guess that was the sellers stepping back rather than buyers..

Looks like I should have bought more...

As volume drops more is being paid, thats reverse logic

I am getting more cynical too, that raise doesn't appear to consider the PI, plenty of activity to follow all paid by the PI while the company should be producing revenue,

Well looks like they controlled well....

Clean up taking longer than expected ?

It seems to be the trend, smashing the LTH, being almost Q3 maybe getting production going this year could have bee enough and the rest could have come next year after more than 6 months revenue

I. think so too, should be a safe bet at 2p even with a delay.....

Progressive Broker note ..Risked Exploration NAV 23.6p..

So a few bags looks achievable ..

https://www.voxmarkets.co.uk/articles/petro-matad-progressive-d122adc/

Previous raise $4m??

Deep pockets or overpaid, £25k +£100k(today)

Mike Buck, Chief Executive, has indicated his intention to subscribe for new Ordinary Shares representing up to approximately US$25,000 at the Placing Price pursuant to the Subscription.

$1m, and again $1m

Petrovis, the Company's largest shareholder, has indicated its intention to subscribe for new Ordinary Shares representing up to approximately US$1.0 million at the Placing Price pursuant to the Subscription.

Use of Proceeds ($4m)

The net proceeds of the Capital Raising will be used to:

· Drill an exploration well on Velociraptor prospect in Block V;

· Evaluate and sign new PSCs (Production Sharing Contract) in Mongolia;

· Develop renewable energy projects; and

· Cover licence, general and administration expenses and overheads.

In the event of sufficient demand, the Capital Raising may be increased to fund the following contingent work programme:

· Develop renewable energy projects;

· Drill and test Velociraptor 2; and

· 3D seismic.

well they raised $6.6 million, and drilled a duster so no Raptor 2 and likely no 3D ?.. so plenty left over maybe....

Inflation almost double $9m( Heron 1 funds ring fenced and $2.6m remaining maybe?)

Use of Proceeds

The net proceeds of the Capital Raising will be used to:

· Commence production and development of Heron discovery in Block XX

o Heron-1: complete and put on production (this will be funded form cash on hand)

o Heron-2: drill, complete Heron-2 and put on production

· Drill the Gobi Bear-1 exploration well

· Develop Sunsteppe renewable energy projects to bankable, ready to build status

· Licence, general and administration expenses and overheads

Why raise now, finish Heron 1 with ring fenced funds(if) and money left over from previous raise, and then use production proceeds..

Plenty doesn't add up...

If they need money, and Heron is going to be delayed, I guess now is the time before the price drops ?

@ $0.025320 or 2p

~355,450,236 shares

Currently 1,113,883,601 shares issued and fully paid....

So roughly 1/3 dilution.....

Using 4p, probably plenty averaging 4p..

100,000 = £4k => £2k

Covering dilution(~33k) ~ 133,000 =£4,660 cost

discount means 133k is worth ~£2,660

lose £2k and need to part with £660 to keep your share of the pie

Fooooking harsh considering they ring fenced Heron 1 funds, and should be producing 800bopd which should finance..

1..drill, complete Heron-2 and put on production,

2. drill the Gobi-Bear 1 exploration well

3. and develop renewable energy projects.

·"Preparations are being finalised for completion of the Heron 1 well and the contractor, DQE, has indicated that it should be ready to mobilise in July."

If this came from DM under He1, or QED then it would be one of those forward looking statements that keeps getting moved along

+indicated that it should be ready +

I don't see this one going sub 2p..

Any thoughts about a possible price, 2.1p maybe ?

@Tro,

$9m Raise at 2p,

Mike Buck subscription $100,000, other Major Share holder $1m( typo in the RNS though)

https://www.lse.co.uk/rns/MATD/proposed-fundraise-to-raise-up-to-usd85-million-7d9b7a1m19fxx17.html

Lucky this is a typo

$1,000,000,000,000

Petrovis, the Company's largest shareholder, has indicated its intention to subscribe for new Ordinary Shares representing approximately ++++USD$1,000,000 million +++++. at the Placing Price pursuant to the Subscription.

Mike, more skin the the whole of the He1 BOD

USD$100,000

Mike Buck, Chief Executive, has indicated his intention to subscribe for new Ordinary Shares representing approximately USD$100,000 at the Placing Price pursuant to the Subscription.

Blooming heck

$9m gets you

1.completion and put Heron-1 on production

2.drill, complete Heron-2 and put on production,

3. drill the Gobi-Bear 1 exploration well

4. and develop renewable energy projects.

$9m, He1 can drill 1/2 a well...

I suspected a fund raise,,, just something about the price movement..

The way buy volume or rises are subtly sold into when everybody is waiting on good news..

At the same time all the BB talk had me thinking sub 3.5p was a good entry..

You just don't know....

So PRD when was the last raise ?

One of mine 3 bagged :)

Only problem it had crashed shorty before catching me with it

LBE

Matd, Mmmmm, not convinced they will be working on that well in July

Hex still up 100%

PRD will it reach 8p