Member Info for Doc83

"Mike Buck just took $100K worth of stock. He must know what's really happening."

He also took a lot of stock in the raises at 3.5p and 2.5p!

I just went to submit my questions but the deadline was 9am this morning. So I'll be asking them live.

Bob, I hope you're right. But just because there might be some good news due SNG's way, does not mean they can shirk their responsibilities of holding an AGM within 6 months of their year end. It is all rather bizarre.

“People are just don't have confidence in MB hence the sells.”

Master, to coin a WOS phrase, be wise and sensible. People are not selling now specifically because they don’t have confidence in MB! There’s a very large sell (2m+) clearly from someone selling their 2p shares.

SP is the same it was when the market opened yesterday morning. Yes, it looks like slightly more sells than buys. But a lot of drama on here, just because it’s not up yet again!

I expect the presentation to be broadly positive, hopefully with some good detail on the plans for the next 6-12 months.

Sol - they won't be able to dump that many shares into the market, so it'll have to be some sort of TO or the like if POW want to exit.

Proph - gone short?

You might need to rerun those numbers now that GMET is 33p/£36m!

Espen35: “just being positive and bringing energetic banter helps other members, when so many show negativity”

FFS, the positive posts/posters outweigh any negative ones by about 100 to 1!

Dinger, lovely numbers and fingers crossed for them. But full payment after 27.8 millions barrels are recovered?! A note from MATD some years ago reckoned they could achieve 5000 bopd from Heron once all wells are flowing. That’s 33 years to get the full expected 60 million barrels!

We like to point out the chunky buys, so it's only fair to point out there has been a few chunky sells. Nothing too OTT, but has put the brakes on this a bit.

I'll be submitting some questions later.

MrCosts, the AGM hasn't even been announced yet (still). They have to give 3 weeks notice. So I think you might be OK to attend. First round is on me ;)

Off topic, and I don't hold them, but closing in on 4000 trades over at HE1 already. Pray for the day that happens for MATD!

Very slim chance. Who would buy us? PetroChina, perhaps. But I don't think the Mongols want China involved any more than they already are. As for a reasonable price... what would you think is reasonable and sell out at?

Rarely post or even look on here as this board is trolled to death. It seems it’s getting worse!

Ibiza - I don’t see how this plummets because the presentation might be underwhelming or no RNS. Equally, I cannot see what could be in the presentation at this stage that will propel this to 10p.

Aeschylus - the presentation could be quite vague and high level, simply laying out their expected timeline of events and expectations. However, I do recall being at a company meeting once where they waited until 11am on the dot before showing us the presentation, as it was being RNS’d to the wider market at precisely that time. I suppose something similar could happen with this. But I’m not expecting anything like “we’re happy to confirm DQE have started work”.

Aeschylus, I also have concerns with DQE. However, this statement in the full year results RNS on 19/6 has somewhat calmed me.

The Company was in discussion with DQE Drilling (DQE), the main provider of drilling services in Mongolia for a multi-well development drilling and completion programme and signed a Memorandum of Understanding (MOU) in 2023. The terms included some deferral of costs to allow a portion of the drilling expenditure to be settled from future production revenue. However, MRPAM insisted that current regulations do not cater for multi-year contracting and accordingly the Company has concluded a Tender inviting all potential contractors to bid on drilling on Block XX. DQE was the lowest bidder and has been chosen to do the work. Final contract negotiations are underway and the Company will seek to incorporate the terms of the previous MOU within the framework of the current regulations.”

As they were forced into looking at (and must therefore have) alternatives, I am hoping that DQE crack on and don’t mess us around. And I’m also assuming if they couldn’t absolutely commit to getting this done very soon and certainly this year, that MB would have chosen one of the alternatives even if it was a bit more costly. All that being said, that is assuming there are no politics and brown envelopes at play, which I’m not absolutely confident of!

But you’d like to think that in the short term at least we have a floor under the SP now, or support as the chartists would say. Even if Heron is delayed, should the SP go below 2p? And there’s a few potential positive curveballs now in Gobi and renewables, with the renewables filling plenty of column inches in the recent RNS’s and which just might pleasantly surprise us, despite my scepticism.

Time for us all to have a good think on what questions we want to ask. Every time there’s a Q&A, afterwards someone asks “why didn’t we ask that???”.

We obviously want every last detail on Heron. To learn more about renewables might be nice, especially now that we’re putting money from the raise into it. Has MB and the BOD put themselves back on full pay and backdated what they didn’t get paid? 😉

What price will we realistically achieve selling a barrel of oil to China and the MG?! And while we’re at it, their own projected revenue from Heron 1 & 2? They must have some numbers.

GMET up at 27/29p, things generally going swimmingly. So that must mean more madness and POW down to 17p bid!

For once, we should've listened to a cross-ramper selling HE1!