Member Info for Doc83

I asked my mate if he'd like to fund Heron development. I remain in discussions with him. I might ask my other mates...

"3 FARM IN PARTNERS in discussion - and more parties interested!"

LIE.

MB said THEY are looking to approach further parties.

"Sorry Doc - no raise, and no share consolidation either...LOL."

There was never going to be a raise today?

Limited time for the AGM, and they are spending it giving us a history lesson! Good tactics, from their side.

Still can’t see the advanced bit in the RNS?

Anyone else?

Take the dangled carrot of a JV and what is in that RNS that is positive?

No signature, no revenue, no increase in production and no details on the financials for the renewables.

Can anyone tell me if there was something about the JV discussions being at an “advanced” stage, or was that WOS trying to mislead again??

TBT: “5-10m of winter revenue.”

Reality: zero revenue

Go get another job.

“ - BLOCK XX PARTNERSHIP (Advanced) discussions with THREE Parties”

Did I miss the bit about “advanced” discussions??????

Some can read and RNS and some can’t. TBT and abzzba being the latter.

“Sales agreement uploaded to server for signing, discussion with THREE interested parties, low cost 2025 season, increasing production H1 , whats not to like.”

So this needs to be read as sales agreement still not signed, discussions but no agreements on JV, low cost season because we can’t afford anything else without a raise, and Heron 1 still at just 200bopd.

Of course no mention. This is exactly what I expected. Still no signature. Still analysing H1 and 2 for potential improvements. And the carrot dangled of apparently 3 interested parties to JV with. If no JV, it’ll be a raise. But that carrot might excite the SP upwards a bit.. we’ll see. But lots of things to divert pressure away from MB for today. Deliberately so.

“Oil continues to be shipped to Block XIX. The operating company has today confirmed acceptance of the oil sales agreement and that execution copies are now being uploaded to their in-house online system for sign off. Petro Matad has been chasing for progress on this as the start of revenue is already long overdue. It now appears we are in the final stretch. Even though Block XIX has tank capacity available to store many more months of Block XX production, Petro Matad has been investigating arranging its own shipments and sale of Block XX crude in case of further delay. The current inventory of Block XX oil in the Block XIX facilities constitutes a suitable cargo size to offer for sale. However, the cooperation with Block XIX remains the most cost effective and the preferred solution”

MB must have some doubt with PC, otherwise why look at alternatives?

I couldn’t have been more right. Nothing actually changed… H1 at 200bopd, nothing actually signed still, some options being considered for improving production. And the 3 parties interested in JV’ing, that’s the positive bit to try and boost the SP and keep everyone of MB’s back today 😂

“Anyone seen Hamm recently?”

They typically wheel him out on post raises to try and recover the SP 😂

The AGM in 2018, they released a 7am update on the day of the AGM. I’d be surprised if we don’t get one. As I said, if they give an update, even if it’s all but the status quo, it covers them for divulging anything in the AGM that might be deemed market sensitive.

I’m still smiling at Proquo, abzzba and TBT backtracking!

You’ve been trying to “land” your massive rerate theory for longer! The time for talking is nearly over.

Major backtracking by Proquo!

Tbf, I’m surprised there hasn’t been an ops update RNS. Would expect one now tomorrow at 7am before the AGM, even if it’s nothing, just so they’re covered to talk openly at the AGM.

"a basic reason why a PC buy out or JV is preferable is because of the risk identified by the Progressive Report of the " complex geology " of Heron."

This has always been the case. So why hasn't someone come in for us sooner? And we know they were looking for partners years ago.

“Just an observation - the opportunity for remote attendees to ask questions during the AGM was not offered at last year's event. It is this year though.”

Proquo, you're wrong. Remote attendees absolutely were allowed.

By the way, stop with the lies about having me filtered. You dropped a clanger the other day that proved I’m not on filter.

No, there is a facility online to type questions live. I have asked many before and all have been answered. He also reads them out word for word, so again I know he is legit in that regard.

“Am I right in saying that online attendees at the AGM can submit questions during the event itself? Looking forward to loads of questions from those who pose so many questions here that only the company can answer.”

Oh yes! Having attended several MATD AGMs (naturally, as a shareholder) MB is actually very good at taking lots of questions. Hopefully he’ll do the same again tomorrow. But I’m sure he knows the obvious questions will be about the Heron 1 and 2, if we’ve received any revenue yet, the plan going forward and if a raise will be needed.