Member Info for fundraiser222

Have you guys not read the article in the bbc? Ridiculous amount of corruption and probably the worst country in Africa if RBW have anything worth money it will be taken from them imo big danger of losing everything here overnight

We need the permits for Fox, and we need the new drill contract signing so we can drill block XX, without these two things we won’t be drilling in 2019, cash burn is $6m every 6 months so cash will be about $19m by the time drilling can commence and of course this cash will be spent on the drilling. An mcap of about £13m is probably about right tbh after a failed drilling campaign. We need good news on the permits and drill contracts and a lot of patience it’s not ideal having money tired up at a loss for 4-5 months but my god Matd need to do some PR and need a CPR report because I do t think many ppl believe their internal estimates anymore, their interpretation of the seismic was terrible they even got the geology wrong for WH! Target depth was way off

We need the required permits and the new drill contract in place to stop this falling. Permitting for FOX started well over 6 months ago how the hell it can take this long to get a permit to drill in the middle of the desert is beyond me. Mike is also useless at PR and probably embarrassed at the drilling record 13 dusters is quite an achievement! Anyway time to switch off here and come back in April. 1p is very unlikely unless they do a placing or delay the 2019 drilling

Not happy with this the phase 2 trial is taking much longer than it should and after the recent placing I just hope it is not a delaying tactic to let the big players out before bad results, hope im wrong but I smell a rat in those results so unfortunately will be selling my holding today GL to those that remain a 6 month delay only announced at this stage is unacceptable

Agree 25% below cash in bank value is a no brainer

Watch the buys come flying in today, when a company is trading 25% below cash in bank value, and has on top of that multi billion acreage potential with 4 wells fully funded for the spring with 3 of those having 50-75% COS and a 200mbl prospect to be drilled on 3d seismic with live oil shows it’s impossible for this not to bag imo £16m mcap is a gift free money imo I bought more this morning and will keep buying anything under cashbin bank value is a bargain

Both here and at Matd after the recent falls in both. shorts closing and interest building with news due can see this above 10p in fairly short order. Matd now trading at 25% below cash in bank value with 4 fully funded drills to start in the spring with 50-75% COS incredibly cheap considering it has bagged 3 years in a row from January, those buying at the bottom will make a fortune imo.

Agree mannan the bottom is in and those buying at these 2 year low levels now we are fully funded for 4 drills with 50-75% COS will make a killing. I will be adding more first thing in the morning the risk reward is unbelievably good from this low level, those sitting in the sidelines will be paying 3p plus in a few days time as lots of experienced investors are now building large positions here as we saw on Friday with the large buying, faster finger first on Monday morning

Agree Matd is pretty much a guaranteed winner at this price when it’s trading 25% below cash in bank value, with 4 fully funded drills to come in the spring. If you look at the charts Matd has bagged from January for 3 years in a row and it will bag again from this low level, good volume last week and interest building this should easily move up to 3p this week back to cash in bank value alone! Very strong buy

An rns in Monday confirming FOX permits would be lovely

The Company's current cash balance is more than $25 million and so the Company is fully funded for the 2019 drilling programme.

Agree today looks the the start of the re rate here, when they last drilled block XX they reached an mcap of £300m!! Also worth noting that when BG Group farmed in they valued the licenses at over $40m, we now have $25m cash in the bank are fully funded for 4 wells in Q2 and have 100% of all the licenses, not a chance this will be £16m mcap for long it’s extremely cheap

At the moment with $25m in the bank, should see this move to 3p next week buying at the bottom is key in these markets

If you look at the chart Matd has bagged from January for the last 3 years in a row so I guess from these near all time lows peeps are taking early positions especially as there is hardly any risk given they have over $25m in the bank as per the last rns and are fully funded for the 4 well drilling campaign in the spring. Important to note aswell that all 4 wells Mike has chosen himself as CEO and the 200m prospect is mapped on 3d seismic with live oil shows in the core hole that they drilled, block XX drills 50-75% COS so all to play for and with cash value at 3p the risk reward Is fantastic from these 2 year low levels

Historically Matd has bagged in January to March for the last 3 years in a row so I guess peeps are taking their positions early knowing there is hardly any downside as it’s trading 25% below cash in bank, the rise has certainly taken me by surprise but guess it just shows how many ppl are waiting on the sidelines to jump in for the higher COS drills in the spring and the FOX prospect given it has 3d seismic and live oil shows from a core hole, anyone who wanted out is probably out by now and as always with the stock market new buyers come in

Some big buys coming in that’s for sure, bottom looks in shame we are not going to get below 2p but perhaps that was wishful thinking given it’s trading at 25% below cash in bank with no value for the licenses

Aye looks like 2.2p was the bottom doesn’t it gatto, they have £20m in cash so I guess a mcap of £15m is cheap when you consider they are fully funded for 4 drills in the spring, certainly some big buying going on today hints the bottom is in

Ever heard of dilution?

85 bag lol that gives an mcap of over 1 billion quid! Deary me Good for a laugh I suppose

I think some people are getting very confused here. Matd are NOT drilling any appraisal wells as they do NOT have an oil find. They have drilled 13 dusters including 11 dusters in block XX! Novice traders have been sucked in without doing any research it seems, this will go into Hibernation over winter volumes will drop off and the price will likely fall sub 2p if your happy to lock your money up for 6 months and risk a placing over winter then fair play, with Mike Bucks history it’s very risky imo