Member Info for Ibiza28

https://www.upstreamonline.com/online/petro-matad-secures-rigs-for-mongolian-campaign/2-1-58894

I just wanted to look up DQE as it keeps coming up now and it appears with good reason. They have it on their website that we are using two rigs for our drilling campaign.

This is not our news this is their news and top of it by looks of it.

Gas prices becoming more relevant as well and in case there is anyone out there looking for Gas we have plenty of it all you have to do is find the transportation or infrastructure. I am sure we would be very happy to sell to help the world gas crisis at the right price. Remember as prices go up the more marginal fields come into or back into play.

There is one other aspect to all of this and that is the re-action and action of China to all of this. They have come out several days ago sharing Putin's concern about the expansion of NATO but have kept very quiet since then. They will know they have a lot of trade with the West but at same time have a big bear on their door step. I would think they would want to try and source some / more of their oil from their own doorstep and friendly neighbouring country in Mongolia. It is not a lot of oil in the over all scheme of things as regards China but as regards any deal that Matd could do with Petro China it could be massive for us.
I think there will be no re rate till we get the RNS just too many factors keeping us down at the moment assuming presentation next week is positive, i think it is, is good then this share will re rate so fast these prices will look a long way off in the rear view mirror.

The company has made its decision in wanting to become bybrid exploaration / exploiting company with steady cash inflows but it is now up to the shareholders to decide if they want to remain with this or whether they sell on and get out of Dodge.
Personally i am in and will be for a while. I am expecting big news on Merlin 2 and this gives a cashflow comfort as long as the new child does not want too much spending on it and the bank of mum and dad need to stomp up then it becomes a drain.

I know that is why i was enquiring. I had another drill that only managed to do 100 feet a day or so.

Can i just confirm that we are about to drill 8000 feet down in just three weeks. Is that really possible..That is something like 400 feet day seems a hell of a lot to me. Unless we are going down a previous hole.

Yes as pointed out it covers Directors salaries and bonues or at least should do.
I am concerned this will be just the tip of the ice berg as far the cash flow is concerned and will divert our attention away from the main prize of Merlin 2.
However interesting bit is what the purchase is what out 4.7$ per barrel for 70 ownership which imo would give an inidcation of what Merlin 2 might get sold for should we uncover what we expect to uncover that is assuming we enough money to drill and test after we have thrown it at our new partner. Just uncertain have seen it before and this looks very similar. Just hope i am wrong.

I think we need to look at this rationally rather than irrationally and just assume the worst. It is also possible they may put a trading halt into the LSE and US OTC markets as well. If they do not then there will be a blood bath tomorrow. I think the timing of the announcement is interesting as it is when both the US and Uk markets are closed.
So what do we know:
We know we have a permit to drill just granted and we are chasing with high CoS 642m barrels or there abouts .
We know that this shares a basin with PANR that is potentially something major.
Oil prices are over 80$ a barrel and climbing some reckon to over 100$ a barrel in the near future.
We have just done a major rise through shares and also that the ASX rules prevent another rise this way.
The announcement specifically mentions a cash raise. The assumption and a perfectly reasonable is that we are short of money and need more. But are there not other means of raising cash.
There has been through all of this no RNS re the rig as far as i can tell except one going back somewhile nor has there been mention of intended date subject to permit.
We have on board a new CFO who has a reputation of making deals and by all accounts in some cases remarkably quickly and we are a company that has cleared the books of all debt and has cash in the bank as well. The question is that money in the bank enough to drill. We have been led to believe we had enough in the bank to fully fund the drill.
There were strong rumours about us being sold since last year and there was a lot of discussion about it.
My belief is that this is a cash raise by means selling on part of our assets the question is it by means of selling all the assets or just the assets around Merlin 2 to PANR.
I think the move to sell off or merge our assets to PANR is too small a fry for our CFO and there is something much bigger going on and it is obviously getting very close.
If there is a sweet heart in the picture would it not be lovely to announcement the betrothal on Valentines day. Somehow it has a lovely ring to it. Somehow i think Monday we will know whether our shares are not worth the paper they are written or there will be a very rapid re rate of our share value.

Very interesting item on Stocktwits by Katie who has done a big DD on him and he looks like the bees knees. Just wonder why there has been very little or no announcement of his arrival. Been around since 2021. If we strike this could be a very significant appointmnet.

In summary, as I go on a bit but like to validate my opinions lol

Hertstrader......7.45p
Bigbench..........6.8p
Gower................12.6p
Jimithebrush .....8.75p
Landicaamans....7.20p
FairAnalyast........8.10p
Ibiza 8p no RNS almost anything with an RNS

I was wondering now that the US market has been up graded to the OTC market is there any reason why the RNS could not come first on the US market. After all it is a US event in a US time zone so other than the fact it has never been done before partly i would surmise because it could not why should not the RNS come at 14.30 tomorrow our time or 09.30 US time or maybe 16.00 our time 08.00 alaskan time. Why wait for Oz in this particular scenario.

I think only time will tell and I think that time is very near now. If Fair Analysis is right then this company is well and truly undervalued and we should be in for a multi bagger but if Manro and Horsers are right then we are all going to be badly burnt. Personally i think things are not as fraudulent as Manro would let us believe i think there are some fairly obvious signs the most recent that progressive marketing report. That would never have been sanctioned if there was not something going to happen and then the job advertiselment again not something that would happen if this was fraudulent because it would imo and open and shut slam dunk court case and i do not think any of the board want that on their resumes. My concern is whether we have enough to finance this drill as they claim. I have seen painful experiences of companies saying they are fully funded and obviously are not. One persons idea of fully funded is not necessarily my idea of fully funded that is where my concern lies and am waiting with interest the next RNS which i think will be next week but again i have been wrong before. As to MB not being in Mongolia does not concern me as long he has key members of his team who are on site and understand the language and ways of the country.. Many companies have their base away from their main site of operations. But each for their own i am in but will i hope be derisking at some point. But if you really do not trust the board and think the whole lot are charlatons then my advise is do not invest in such a company. I certainly would not.

I find it interesting that we are getting all the news on Unilever even though the bid was made 3 times I believe and three times rejected. Now we are getting news stories of their woes and the heightened holding by Trion I just wonder if the bloke on her suggesting a reverse takeover of Unlever may yet happen. I find it interesting that Dave Lewis has joined us and i would imagine getting his teeth into Unilver maybe something he would relish. Just thinking. Still a bit uncertain.

This is not the first time i have read this update and everytime i read i get the same feeling that this is not just for us but is also an unadulterated , abbreviated sales pitch. A come and get me and if you want more information ring the front door bell.. Every so often we just change a word here and here and add in a few more numbers and remove the odd CoS when we have found something. Or maybe it is just me living in La La Land.

Tend to agree that this bid is probably already dead and the SP will slip back but because the bid was not rejected out of hand but just told that it was too low means that we are in play for someone else to come for us and at the sametime will hopefully give the management a kick up the rear about splitting off the consumer health division. So do not rule out anything else happening either from Unilever or else where.

I think it unlikely this bid will go through i cannot see how Unilever can afford it but i think it means that we are in play for a bid from else where possibly and the seeds have been sown and worst case scenario is it give GSK a kick up the backside and start to get things moving at their end. IMO

According to BBC £50bn is the price as agreed by both Barclays and Goldman Sachs but fails to cover the known cost savings that have yet to be implemented also the higher sales growth targets that have been put in place this year or has it factored in the normal 30% premium that would normally go with a business of this nature. I would like to think that they are not very off far but whether GSK get everything they want is unlikely. If they get everything it could be another 15-20bn but i think that is unlikely. The question i have is is the Drug side of the business properly valued at 30bn if the Customer service arm is 50bn in an 80bn market cap.

there seems to be a lot more resistance at this level than i initially thoght. Oddly this is my break even level as well.
GLA

Personally i quite like the way this share is going up slowly but steadily, No major peaks and conversely no major troughs. And this is without any major news once that kicks in then this share IMO could do things none of us would expect it will be a matter of he who dares wins. I have a feeling there are going to be a lot of people on BB who will wish they had not got out quite as early they did. I do not think in time that a MC of £225m at 25p is unreasonable but who is going to stay in and see it. The major peaks are yet to be scaled and question who will have the guts to stay in and see this through.

This share will fly at some point in the near future. There are very few shares in circulation so it would not take many to give this SP a major boost. My only concern is the big investors we have been told about. If he is going to buy into the shares that are already out there they are leaving it a bit late and i thought we would have heard. The alternative is we float out say another 100m shares at a diluted price directly to them which would give us a cash boost but would directly dilute our respective holdings. Obviously not a loan as then they are just a lendor and not an investor. This is my one concern and cannot work out any other scenarios. Mind you maybe they are building up a holding with Mtad's knowledge but have not yet tilted the RNS level and are deliberately doing it slowly to keep the price down to build up holdings before announcements come because if this is the case then it is taking shares off the market and therefore even fewer become available and prices will fly even quicker when there is news. IMO