Member Info for Fronteracheckin

September 25: 0.71p

November 25: 1.08p.

Wow! 50% rise in two months! MASSIVE ROCKET EMOJIS!!!

your comment takes into account literally zero material information.

if you dont like it, its not an airport, so you dont need to announce your departure :)

GLA on H2 cleanup / farmout agreement !

TAGS should hopefully be advertising the tender on their platforms on friday / the weekend.

GLA - lets hope we can get anywhere near 0.4p again before the results of the auction.

Luckily hamm, regarding advanced talks - in order to RNS such a statement, the nomad / regulator have to sign it off before it can be published (aim rule 10)

So if they've published that statement, it's been signed off by the regulator - and that won't have been signed off on the back of a 'trust me bro'

Gla, hoping H2 comes good and rescues this collapsing SP. Dummy buys still show the extremely low liquidty here, 2-3m buys can put the price up 0.05 pence in a single PI sale. Only problem is the opposite is also true. H2 coming good is an absolute company maker for reasons I've previously published.

GPT;

If Heron-2 cleans up properly and delivers a stable commercial rate (150–200+ bopd), it is far more important than just “adding another well”. It fundamentally changes how the entire Block XX development is viewed.

1. It proves repeatability.

Heron-1 alone could be seen as a lucky geological pocket. Heron-2 flowing commercially, just a short step-out away, confirms the reservoir continuity. That is huge for any field valuation. Two producers = a real field, not a one-off.

2. It upgrades the asset class.

The market stops treating MATD like an explorer and starts treating them like an emerging junior producer with development runway. The risk profile collapses.

3. It transforms the economics.

Heron-1 (150 bopd) + H2 (another 150–200) + Gazelle (~200):

That puts MATD in the 500+ bopd range, which means:

~$4–5m net cash per year at $60 oil

Enough to self-fund new wells

Dilution risk drops dramatically

Partner negotiations become stronger

4. It derisks every future well.

A commercial H2 makes H3, H4, H5 etc lower-risk clones rather than high-risk wildcats. The entire multi-well development plan gains credibility.

5. It improves JV leverage.

Any farm-in partner (including the unnamed “advanced counterparty” in the RNS) would value the block higher with two proven producers. Farm-out terms improve and MATD keeps more upside.

6. It flips the narrative of the company.

From:

“Single well producer needing placings”

To:

“Multi-well development with scalable cashflow and field continuity”

A successful H2 is the difference between a survival story and a growth story.

Hopefully H2 cleanup and realignment of beam pump / clear out fluids and restore oil flow will be a massive update.

The company stated that oil percentage was rapidly increasing as the fluids were being cleaned out - that's a huge sign the acid wash has done it's job and cleared up the wellbore allowing oil to flow. If it was a duster or did - that oil percentage would not climb while the fluids were recovered.

I hope they can whip out a blinder here and if the mechanical issue is with the pump alignment we may get an extremely positive update. Might sound like not much adding H2 - but that actually helps prove up the entire field, H1 and gazelle alone could be 'pockets', but if H2 comes good so close to H1, we prove up the field. If that happens, I won't be letting go of a single share. Asking chat GPT the implications of H2 coming good it states..

Embarrassment aren't ya likkle bwoi

StMartins

Posted in: VAST

Posts: 820

RE: RNS23 Oct 2025 07:33

From the moment the Historic Parcel arrived Vast has become worth less than when ZIM had them hidden.

Now when VAST need Wonga, holders are a safer bet to milk rather than a bridging loan.

Those Diamonds must be worth very little. AP is a Romanian crook and will run home soon with VAST in liquidation

Shut up you absolute moron.

You said this was a sham company and sham CEO st Martin?

Glad you got what you asked for are you? 😂😂😂

Can we stop regurgitating this tripe and just filter the morons. Can we talk about the company and not what some meany said 100 times over?

You've gone from deramping viciously to sat ramping on your own martin, sad state of affairs for you eh.

Massive sells going through today, soon below placing price.

That little line in the rns stating 'and other measures' to settle the debt has destroyed the share price. They've admitted the diamond sales will not cover the debt if they need to enact other measures to pay the debt. FCA will be getting involved here if those diamond sales dont come through and cover the debt (which is already being cut through via placings, not diamond sales) AP stating on public record that the diamonds WILL cover the debt is considered material information.

I hope he's ready for if those diamond sales don't come though to a value high enough to cover the debts. I'll be pursuing every legal avenue if they don't.

I can only hope to get out of this sinking ship with a well placed few lies from AP to bolster the SP.

Good luck all, hopefully you can escape with at least something and pass this bag on to the next round of victims.

About Sinopec being the potential farm-in partner for Block XX, here’s a clear breakdown of the facts vs speculation.

✅ What’s confirmed by RNS:

MATD has been seeking a partner for Block XX throughout 2025.

March RNS: “discussions with three entities ongoing.”

July RNS: one counterparty is in the final stages of evaluation and MATD has provided a draft farm-out agreement.

August update: a draft Letter of Intent is circulating.

September interims: “detailed technical and commercial negotiations with one party.”

MATD still holds 100% working interest today, so nothing has been signed yet.

That is all publicly confirmed.

✅ Why Sinopec is being talked about:

Back in 2017, MATD worked with Sinopec Mongolia LLC on a rig contract for drilling operations. This was a contractor relationship, not a JV — but it established prior operational interaction between the companies. That’s why Sinopec often comes up in speculation: they’re a major Chinese operator active across northern China’s basins that extend geologically toward Mongolia, and they’ve physically been involved with MATD before (rig provision).

❗ But this is not confirmation of a Block XX farm-in.

There is no RNS, no Mongolian government notice, and no formal document naming Sinopec as the counterparty currently in negotiation.

✅ What the partner signals actually tell us:

There is a genuine partner process underway.

It has progressed from general talks → multiple parties → one advanced counterparty with draft agreements exchanged.

This is more advanced than most AIM “we’re talking to partners” fluff — it’s real.

✅ What it doesn’t tell us:

Who the partner is.

Whether it’s Sinopec, CNPC, PetroChina, an Indian group, or someone else.

Whether terms are agreed or still being hammered out.

✅ The sensible interpretation:

Sinopec is being mentioned because of past collaboration in 2017, but that’s just plausible speculation, not confirmation. The real takeaway is that a partner is close enough to have:

a draft farm-out agreement, and

a draft LOI circulating.

Until an RNS names the counterparty, this remains at the “advanced negotiations” stage — positive progress, but not complete.

Also regarding H2 cleanup - If the flow dropped because of a perforation or near-wellbore blockage, that is one of the most fixable problems you can have. It’s not a geological failure and it doesn’t mean the reservoir can’t produce. It usually means the oil zone is fine but the holes connecting the wellbore to the rock have become choked after stimulation.

It happens all the time after acid jobs.

Acid dissolves the skin and frees up debris, and that loosened material can temporarily block the perforations. The well looks good, then suddenly stalls.

Operators have a full toolbox for this:

Continue pumping or circulating to flush debris

Jet-wash the perforations with coil-tubing

Run a short clean-out or light “mini-acid” touch-up

Or simply re-perforate a few inches above/below the old holes and bypass the blockage completely

All of those are routine operations, not desperate ones.

The key thing is that H2 was showing rising oil cut before the interruption, which points to a mechanical or near-well issue rather than the reservoir running out of drive. If the pump alignment fix or a simple clean-out restores that earlier trend, the problem’s solved.

This is why the company isn’t panicking in the RNS.

Mechanical and perforation problems can be fixed.

Geology can’t — and geology looks fine here.

So - The well was cleaning up properly at first. They recovered about a third of the treatment fluid quickly and the percentage of oil was rising. That tells you the reservoir can flow oil and the acid stimulation was doing its job.

Then the flow dropped off. The company gave two possibilities:

A mechanical pump alignment issue

A temporary obstruction at the perforations

They have already realigned the pump and resumed operations to see which it is. That is how you troubleshoot this type of well. Fix the easiest surface variable first, then see if the trend returns. You do not jump straight to a worst-case conclusion when the well was already showing better oil response than before the acid.

Nothing in the RNS suggests a reservoir failure or lack of oil. The RNS explicitly referenced mechanical or perforation-level issues, not a geological one. This is classic early-stage cleanup management after stimulation.

If the post-realignment flow improves again and oil rises, then this blip becomes meaningless. If it does not, they will re-enter after winter and run further remediation. And in the absolute worst case they use the well as an injector, which still adds field value.

Bottom line:

Not ideal news, but not a “well dead” moment either. The right diagnostic steps are being taken and the initial oil response matters. Let the next test tell the truth rather than guessing on a temporary interruption.

Let's hope the beam pump realignment sorts out the rest of the fluid and we get an even better result than H1 and gazelle. That will be an absolute blinder.

Worst case, water injection for improved flow elsewhere.

Good luck all!

Oh brilliant thanks Kevin I overlooked that, I spend my time discussing this entire operation with AI 😂 so from what the RNS today says I asked it an honest take on it regarding H2;

As an AI model analysing the latest Heron-2 update, here is the logical takeaway from the RNS and why the market may be underestimating it.

The acid wash has already been completed at Heron-2 and the RNS confirms two important points:

1. During the clean-up phase before acid stimulation, the well showed higher gas and oil concentrations than the original test.

2. A full acid volume was successfully injected and is now being cleaned out, with a beam pump now being installed to accelerate fluid recovery and test the true reservoir performance.

In the oil industry, that sequence matters.

When you see improved hydrocarbons during the pre-acid cleanup, it often means the original flow restrictions were linked to near-wellbore skin damage rather than lack of reservoir quality. The subsequent acid wash is specifically designed to remove that blockage and improve permeability around the wellbore.

So the logic chain is:

Original test: restricted flow

Pre-acid cleanup: stronger oil and gas shows than before

Acid treatment completed

Pump being fitted to clear fluids and measure true deliverability

Commercial test next

That is exactly what you want to see when trying to turn a “tight” well into a producer.

It is also worth noting that Heron-1 only flows ~150 bopd, yet that has been enough to sustain commercial production. If Heron-2 comes in above that rate after cleanup – even moderately – then the field economics shift materially. Two wells flowing steadily changes the risk profile of the entire project and accelerates cash-flow maturity for Block XX.

In short, the RNS removes an unknown (the acid job is done), gives a positive technical hint (improved hydrocarbon shows), and sets up a binary next step: either the well flows commercially and joins Heron-1, or it becomes a water injector to support field development anyway. Both outcomes add value, but a successful flow test would be a strong re-rating catalyst.

Worth watching closely over the next announcements. Some investors have already written H2 off. The data in the RNS suggests that may be premature.

--- end

So yeah I think we could see a huge bounce here if we move from 150bopd to 550 if H2 and Gazelle add 200 each in the space of a few weeks. The reserve being proven up will of course show a massive change in economics, as we prove up that we haven't hit a small pocket and we're hitting a larger reserve. Good luck all and keep on posting the good posts - I found this company from people chatting about it so let's share the good news!

I can see a lot of people being caught out here if Heron-2 responds well to the acid stimulation. And this can be done in a couple of weeks right on the wire for winter shutdown.

People may have mentally written H2 off. But look at the facts, not the emotion.

The logs showed oil.

They reported around five metres of net pay, very similar to Heron-1.

Porosity readings were comparable to H1.

It is the same proven reservoir unit, same geology, same play concept, just a short step out from the discovery well.

That does not scream “duster” to me. It screams “oil is there, deliverability needs cleaning up”.

Sometimes the first version of the flow test lies, and the second tells the truth once the near wellbore skin is cleared. This is a very normal scenario in frontier basins where mud invasion, fines and formation skin can choke early flow.

If the acid wash clears the damage and the reservoir connects properly, this goes from a “problem well” to a producing well pretty quickly. And people shouting failure today will be chasing on the next RNS.

Even in the worst case it still becomes a water injector to support the field, so value is not lost. But the geological picture here supports a fair chance of success. Same structure, same reservoir, same characteristics as the well that is already flowing.

Anyone treating this as dead and buried might be setting themselves up for a surprise.

Patience sometimes rewards the boring companies that do things properly.

What if it does not work?

Then they likely turn it into a water injector to support Heron-1 and Gazelle long-term.

That still adds field value because pressure-support wells enhance recovery in producing wells. Not wasted.

So either:

It becomes a producer after stimulation

or

It becomes an injector and boosts field performance anyway

No “failed hole” outcome here.

---

Bottom line

Heron-2 situation = common in the industry

Acid stimulation: days to couple of weeks

Cost: low relative to drilling

Logic: fix the plumbing, not the reservoir

Success odds: reasonable given logs showed oil

Downside: still useful as injector

This is not a disaster scenario, it is a standard optimisation phase.

The key will be what flow rate they declare after the retest.

How does acid washing help? ai answers;

Acid stimulation is used when the reservoir is oil-bearing but the wellbore isn’t flowing freely because of skin damage (near-wellbore blockage).

This can be caused by:

Drilling mud invading the formation

Fines blocking pore throats

Filter cake on the sandface

Scale / mineral buildup

Clay swelling

Cement invasion

Acid dissolves these blockages and restores permeability around the wellbore.

In simple terms:

The rock is there and the oil is there, but the plumbing is partially clogged. Acid clears the gunk so oil can move.

Result:

Lower skin

Higher permeability near well

Better flow into the wellbore

Higher well deliverability

This can turn:

A non-commercial well into a commercial one, or

A weak producer into a steady one

But it cannot create oil that isn’t there. It works only if the zone has oil but flow is restricted.

So the logs saying Heron-2 had pay is why this method makes sense.

---

Is acid wash expensive?

Compared to drilling? Cheap.

Ballpark for a vertical well in a simple field setting:

Item Cost

Basic acid wash $50k–$150k

Acid stimulation with pump trucks $100k–$300k

These are typical industry numbers. Mongolia logistics could add a premium but it isn’t multi-million-dollar stuff.

Drilling another well instead would be $3–$7M+.

So spending ~$100k–$200k to try to unlock a well that could produce millions of dollars in oil makes obvious economic sense.

Also really interesting, there's very low volume for an rns day, typically we have 5-10x daily volume on update days and yet there's no major trader 'sell on news' style exit.

That means 99+% of shareholders are holding onto their shares.

I'm not going to be in the 1% of people selling 👌

Matd is now a multi-well producer, potentially a third online this year (unlikely but would be a welcome surprise) we all know the weather's been nuts this year so maybe they'll get more time to work on heron 2 before the cold shuts down manual operations.

Zero company debt, two producing wells with a potential third before year end. Farmout agreement could land any day

Exciting share to hold!

Strong update in my view.

Gazelle online at ~200 bopd and done very quickly considering the well was drilled years ago. That shows an operation that knows what it is doing now. Mongolia side maturing, relationships in place, teams in place, execution speed improving sharply. That is a big shift for this company.

A few people panicking about flow management. Reality is they are doing exactly what competent operators do. You do not just slam a well open to get a big headline number and then destroy the reservoir. Careful choke control in the first weeks protects long term output and can actually increase total barrels recovered over time. The language here is reservoir management, not struggling well.

Once they have enough data and know the pressure behaviour and fluid movement, they can look at nudging the choke if it makes sense. They have been clear that optimisation continues, so the door is open to higher rates if the reservoir supports it.

Heron stable. Gazelle flowing. Cash flow growing. Payment structure tightening. This is the shift from explorer to producer. Not flashy, but exactly how a proper ramp-up looks.

Myth vs reality

Myth: Flow rate low, well is weak.

Reality: Initial controlled rate is normal. Protecting the reservoir and maximising total recovery is what good operators do.

Myth: If they could flow more they would.

Reality: Not necessarily. Pull too hard and you risk water coning, sand, pressure collapse and long-term damage. Strong companies build stable wells, not one-week wonders that they block in due to incompetence. Matd approach is conservative and careful.

Myth: This means decline is imminent.

Reality: There is no decline signal. Early choke management is a positive, not a negative.

Simple analogy

Think of a well like a bank account. You can take out a big chunk on day one and it feels great but it will empty faster. Or you withdraw steadily, protect the balance and earn interest while doing it. Controlled flow now means more oil recovered overall.

AI take below on the issues you posted muck ;