Member Info for Doc83

ThePOF - that’s patently incorrect. Contracts and paperwork are still required to be signed.

That is a big assumption to say we can start extracting oil just because in your words it doesn’t state “that any of this stops us from commencing work.”

To me, it is quite clear that by law we are required to complete these formalities before doing anything:

“The Cabinet approved the certification and also instructed officials to conclude the follow up formalities required under the Land Law. The Company will now work with the central Land Agency and local authorities to complete the registration of the area ***and to sign the necessary contracts required by the regulations on the management of special purpose land.“***

I will say that I do think it will all be sorted. But I do not agree we can start working to extract oil just yet.

"Now that PM has the LP all eyes will be on PM."

We don't have the LP just yet. And I think that's part of the problem for the SP. Formalities, maybe. But the fact remains that as at this very moment, we are still not allowed to park up a tanker and start extracting oil.

Chance of PC being allowed to take MATD over... 1% IMO.

It would be interesting to see what the MG did if say a Shell or large oil company came in. Obviously there's a bit of history with Shell/BG if IIRC?

But if there are certain stipulations the MG have put on MATD, then maybe another company wouldn't want to touch it anyway.

Impecunious - I will take your word on that!

Enjoy the wine and cider… a dangerous combo!

"Tray - you mean ‘if’ the market recovers"

Roger, if the market never ever recovers, then there has probably been WW3. In 150 years, the market has trended upwards.

He's in Magaluf.

Hamm: “L2 looks strong.

It is a matter of days to get to double digit.

Remember any drop is artificial.

Time to add at any opportunity.”

L2 looks strong? That’s why the SP has fallen? I mean, really, Hamm, in the words of our friend iamrich, will you just STFU with this nonsense. It’s not needed.

Reading some of your posting history, you make Roger look like a motivational speaker!

"One RNS with a slight bit of good news and this is 7-8p."

I thought the LP RNS was supposed to be the good news that pumped this SP?!

Don't forget, it's nothing to do with good or bad news, it's simply to do with market makers and where they decide the SP should go... ;)

Hamm: "You can sell millions but can't buy says it all."

You know that is absolute nonsense.

So to clarify, at $80/barrel we get 60% of that… absolutely no other costs whatsoever?

I wonder if we would get the marker rate, though? I have no idea as I’m a “fool” but is it convention that customers have to pay whatever Brent/WTI is trading at on markets? Or could china/MG demand discounts? It’s obviously quite important to MATD because as your numbers show, at $50/barrel we’re back to 45%.

It’s worth noting that this conversation started from your misleading post:

“600 bopd @ $70 / barrel $15.3m annual revenue from one well.

Trucking cost to PC process facility only $8/barrel for onward export to HoHut oil refinery across the Chinese border. ”

That made it seem like we’d get the value of the barrel minus only the $8 trucking cost. Which is not correct.

MisterP - why the aggression and need for the fool comment? We’re all here to help others or gain and understanding. No need for it.

Not worried at all. We’re just having a pleasant discussion on something that will hopefully be very relevant to us. That’s what the BB is for.

But WOS, do you know what % of the barrel value we get once all costs, royalties etc are taken away?

Progressive say $10 per barrel trucking costs to China for refining.

5% royalty.

60% contractor cost for profit oil.

It won’t let me copy and paste but here’s the link:

https://progressive-research.com/wp-content/uploads/data-sync/research/MATD-20210707.pdf

I’m on it WOS!

Velociraptor has an 8% royalty, with 55% to DQE reducing to 50% once in profit. Ouch.

I’ll have to find out what Heron’s terms are, but throw in transportation and whatever other costs there will undoubtedly be, and it’s comfortably less than half?

Anyway, would just be nice to finally extract oil, at any cost!!!

MisterP - the recovery cost, is that our costs we’ve spent on heron this far? If so, that is fractional of the overall revenue we’ll get from it. And even by Condorman’s calculations with the recovery cost included, it’s not much more than half.

I’ll have to dig out the old RNSs and research notes, but I thought I’d read that DQE get something like 45% of a barrel of oil. I knew that the MG weren’t too bad with their cut.

It’s fair to assume that we’ll get less than the best terms, given we’re a newbie with no negotiating clout as such.

“We get to keep majority of the Oil revenues up until we recover all our "Capital costs" and Operational costs referred to as (Cost oil)”

MisterP - so even the initial oil sold where we can keep x amount for recovery costs, we are just about getting more than half the value of a barrel?

MisterP - hang on a minute, we’re hoping to recover potentially BILLIONS of $ of oil. What are our costs on Heron? I have no idea, but we’re talking millions and a fractional amount relative to the overall value of the extracted oil. So the reality is that we will be getting less than half the value of a barrel of oil?

I’m no expert so will be very happy to be proven wrong and us make more money than I expected.

MisterP - of that $70/barrel, we won't get anywhere near half of that. DQE/MG get more than half IIRC?

An interview from MB would be welcome to clarify a few things.