Member Info for Doc83

RBM - many thanks, I have just forwarded my email.

I have emailed coplaction@ceclegal.co.uk twice with all of my details and holding but had no reply. I have checked all folders. I’ll try again but I am very keen to partake with what I would guess is a decent holding of shares. I want to see the likes of AM taken down more than even the financial compensation.

Investor - I was concerned there might be some further bad news but MB and the AGM do seem to have calmed things a bit. But I am left wondering if we will ever sell a barrel of oil from Heron. For all WOS's talk of "imminent", it's very feasible 2024 will be another year without production. I'm also of the opinion we will have a raise this year. It's just my opinion so for those with high blood pressure, don't explode. But if you listen to the Q&A, IIRC one of the very early questions asked about the "upcoming raise" which MB didn't discount and instead started talking of the different funding options!

TCM - Prof also full of it and he will tell you himself there is no love lost between us. But WOS edges it for me in the BS scores.

I'd call following/stalking people on other boards a bit playground like, wouldn't you?!

But I'm happy that you're being found out and more and more members are realising you are full of it.

WOS - getting my posts deleted again?

TCM - who has been more right, WOS or Prof?

IMO we won’t see a drop of oil out of Heron this year. MB sounded even more exasperated than usual. He said the governor said he didn’t take it personal being taken to court in 2019 but clearly is. And central government also seemingly holding things up. In all areas, it was delays, delays, delays.

The fact the cash situation seems ok for now might mean some stabilisation for the SP, but I would expect any slight rerate in the shares to result in MB going for a raise.

"Can we also stop people saying it's "any day now!!!!!!!!!!!!" "Soon!!!!!!!!!!!!!" "BOOOOOOOOOOOOOOOOM" too...EVERY.SINGLE.BL00DY.DAY?"

Indeed.

WOS - any contrition for getting this so horribly wrong, despite all your intel and research?

You read my mind - I've tried to get a question in but I think it's too late.

It's hard not to have some sympathy for MB when he goes through the sheer amount of bureaucracy and blatant blocking of MATD's trying to progress. And credit where it's due for answering all the questions.

The good news...

- we appear to have cash to run the business for a bit longer yet

- they have taken pay cuts while this is all resolved

The bad news...

- it seems clear this could go on for much, much longer yet

- MB seems hugely frustrated, even more than usual (and who can blame him) but it does show the perilous position we are in.

Why haven't the locals been compensated more... MB: they don't deserve it.

Fair play.

Definitely a raise coming. That second question asking about the "upcoming raise" MB didn't even question!

MB sounds royally pi5.sed about all this.

Wigster - even though MB has told porkies over the years and his performance IMO has been unsatisfactory, the market would likely react negatively to him resigning.

Aeschylus, I'm not convinced it is just one politician and some kids. It has to be more, surely.

Josh - no one makes you read the SNG board!

Prophetus - why don't you think a raise will happen? Is it simply because you believe we'll be producing oil imminently?

Aeschylus - I suppose it could be put another way to him, for example, what is the ultimate deadline we need to be producing oil by, and in what quantities, to ensure we are generating enough revenue/profit so that we don't deplete our current cash reserves and therefore require some kind of funding?

Oh, and how long once the green light is given does it really take for us to get everything up and running and oil flowing at 100%? Hamm always bangs on about a "two week workover" but I don't know if that is right or not.

DRCed - that also has to be a question for MB tomorrow - realistically, will we be producing oil and revenue this year, and in sufficient quantities to ensure we can continue as a going concern without the need for further borrowing? And even if the green light is given during May, how long exactly would it take for us to get everything in place and oil flowing at a sufficient rate?

Investor - I'm also not necessarily saying you are wrong. Just that as far as the Mongolian people (and those damned activists) are concerned, they view us as foreign.

A lot for MB to clear up tomorrow. I see a 20-25% swing in the SP tomorrow or for the remainder of this week, based on what he says. I just don't know which way!