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If MATD have the cash for Heron plus the additional drills why say "sufficient working capital to operate beyond mid 2024 as a going concern", why not just say sufficient working capital to operate beyond mid 2024.
Caveat emptor !!!!!
Do we have enough cash, several posters said we had enough until July 2024 but the statement in the June RNS seems like it was worded with a get out clause, read the RNS paragraph below.
""The Company raised an additional $6.6 million funds in February 2023, which provides sufficient working capital to operate beyond mid 2024 as a going concern, as well as commencing appraisal and production operations at Heron oilfield in Block XX, and drilling a high-graded exploration prospect in Block V.""
ronger if you had read and understood the 12th August debt restructure RNS you would know that we already have conditional acceptance to exchange the 5 million debt for shares at 0.45p, please try and keep up,
ranger, have you always been a compulsive liar or are you just not to hot at reading and understanding, might i suggest you re-read the RNS which is quite clear, the RNS clearly states it relates to Company's Luxembourg listed EUR 20.0m 8.0% secured notes and goes on to say ""Convert 50% of the outstanding principal amount of the Notes, together with accrued interest thereon, into new ordinary shares in the Company ("Ordinary Shares") at a price of 0.45 pence per Ordinary Share"".
Why not get a grown up to explain it to you.
ranger, look on the bright side, whatever happens it will not affect you as you do not hold any shares in the company, still struggle to understand why you post day in day out over several years when you do not own shares here.
ranger, 10th July you said:::: This SP will spirits toes into th 0.19as in the next 2 weeks:::: here we are at the end of August holding our own, you were wrong, AGAIN.
As you say all your posts are here for all to see, several years worth of deramping one share and one share only, some might called it an obsession, i call it creepy.
Less debt = less repayments = more cash in bank that we can spend developing the business, more workovers, finally get around to CL and Monte Aymond plus the exploration drillng opportunities that were identified and documented by Santa Cruz previous owner/ operator. Ok it will not happen overnight but we are on the right track.
So your happy with 3 months, are you really saying we should be able to bring these 30 wells online in 3 months, thats 10 wells a month or one well every 3 days, i can only assume you have been on the Buckfast again.
ranger, seems to me its abz that doesnt care what you think, all your constant baiting and no nibble.
As for your "offer" to stop posting if the sp increases to a penny in 3 or 4 months, lets be realistic, its a 6 month
"enhancement" plan that ECHO have announced so why would we expect the sp to triple half way through these
works.
However, if your "man" enough how about this proposal, if in 10 months the sp is over 1.1 p you stop posting, 10 months
allows ECHO time to complete the 6 month enhancement plan and hopefully includes enough time for them to carry out at least a few of the workovers, question is are you "man" enough, somehow i doubt it.
The other question is are you "man" enough to honour the proposal, somehow i have doubts about that as well.
ranger, on 10th July you posted the following,
"This this SP will spirits toes into th 0.19as in the next 2 weeks,
Up or down am I going to be right?".
In answer to the your question you were wrong.
Certainly seems like a positive RNS to myself, also interesting that the figures quoted do not include the workovers, guess we need to wait see but i like the fact it aligns with Interoils recent news releases, nice to see our resident de-ramper and alcoholic has managed a couple of coherent posts.