Member Info for investor33

Hamm ; the share price has been on a multi year downtrend since May 2023. The big feature of a long term downtrend is lower highs and lower lows each year. So a 7p high in May 2023, a 5.3p high in May 2024, a 2.5p high in 2025 and so far a 1.4p high this year. That's the definition of a downtrend lasting several years.

In an uptrend the reverse happens, and hopefully a farm out would create that reversal pattern, in which case an uptrend might last for a number of years, with higher highs and lows each year.

Abzzba ; it just proves to me that Aim microcaps are driven more by sentiment than by a reflection of pure fundamentals. And the sentiment dictates the volume levels.

In the exploration phase you had all the hype and anticipation which created a huge ebb and flow of sentiment. Hence a much more lively share price back then. That's why the likes of WOS peddled their stuff at the time.

Hopefully if and when a farm out is announced on decent terms, we will have a coiled spring effect from the price of oil.

We must be the only oil producer in the world whose share price has not benefitted from the surge in the oil price.

All the gold bulls are getting excited again about gold stocks. So much money has poured into gold stocks recently, however this guy thinks the recent gold recovery may be a "bull trap. "

Lower highs and lower lows are always important in TA - it's why MATD can be considered to have been trending down since May 2023. Hopefully we reached the bottom, and the trend will reverse.

https://www.youtube.com/watch?v=e0Uj53OkFQE

Re the farm out, for some reason the fact that " a proposal has been received " tends to get ignored. This from a party who " flew in " to do a field visit.

There's never been a proposal put forward for block 20 up to that point, and a farm out was agreed for blocks 4 and 5 back in 2015 when no oil had even been discovered. These are all significant factors.

I would be extremely happy with farm outs for both blocks 20 and 7, plus some decent revenue coming in from Sunsteppe. Job done to some extent, and then just sit back and watch the revenue keep building over the next 10 years if you want divi income as well as share price appreciation.

Re kr1988 ; to give you an idea of what he's like, he once did a whole load of calculations to show why the figures would not work for a potential farm out partner.

There was one small flaw with his clever calculations - he based them on the field lasting just 5 years. Presumably after 5 years all the wells would have had to be capped and everybody walk away. Lol.

I love the way kr1988 instructs everybody on investing. This from a side hustle trader who stated on another board that he had lost money in his first 2 or 3 years of trading. Has someone given him some instruction on how to trade successfully ?

Funny how it's the side hustle traders who tend to be the most condescending, and arrogant. And they love to taunt genuine investors.

" I asked how much they receive when Brent is $100 but so far no reply." rather.

I'm glad that some people at least are getting their queries answered. I'm not sure how they filter which ones they decide to respond to. I suspect that comments on here earlier about a radio silence being loaded with meaning has prompted them to start answering some questions.

Given the debate on here about this, I asked how much they receive when the Brent is $100 but so far no reply.

Proquo; I agree about the company's radio silence and what it means. It's been the same for me.

Funny how a few of the negs were making out over the weekend that the company has never managed a farm out deal, when in fact one was signed in 2015 with the BG Group at a time when the company had not even discovered any oil. Just shows the loose grasp that a few have with concrete facts.

Https://www.dailymail.co.uk/news/article-15688963/Gate-Tears-critical-global-chokepoint-Houthis.html

Notice the "cash component " and the " work commitment " expenditure elements in the 2015 deal.

You can be sure that the 2015 farm out agreement was used as a starting point comparison basis in the negotiations. And the farm out back then was purely about exploration, with no discovery having been made. The position right now with block 20 is light years ahead of where the company stood relative to blocks 4 and 5 back in 2015.

Scrambles the info when you post it unfortunately. I will try again below another way ;

Comparison of Key Terms

Feature 2015 BG Group Deal (Blocks IV & V)

Asset Stage ; Frontier exploration (no discovery yet)

Interest Given ; 78% working interest to BG

Cash Component ; $4.55M ($2.75M upfront + $1.8M over 30 months)

Work Commitment; $28M gross expenditure (seismic & 2 wells)

Primary Goal ; Testing geological theories in new acreage

2026 Expected Deal (Block XX)

Asset Stage ; Appraisal & Production (Heron field)

Interest Given ; Likely smaller stake (Block XX is a proven discovery)

Cash Component; Potential for higher upfront cash to match MATD's $60M prior spend

Work commitment; Full funding for multi-well development programme

Primary goal ; Rapidly scaling production to 4,500+ bopd

Interesting AI answer regarding a potential farm out for block 20 vs the previous 2015 BG Group farm out deal ;

Comparing the potential Block XX farm-out to the 2015 BG Group deal highlights a shift from high-risk exploration to lower-risk production development.

Comparison of Key Terms

Feature 2015 BG Group Deal (Blocks IV & V) 2026 Expected Deal (Block XX)

Asset Stage Frontier exploration (no discovery yet) Appraisal & Production (Heron field)

Interest Given 78% working interest to BG Likely smaller stake (Block XX is a proven discovery)

Cash Component $4.55M ($2.75M upfront + $1.8M over 30 months) Potential for higher upfront cash to match MATD's $60M prior spend

Work Commitment $28M gross expenditure (seismic & 2 wells) Full funding for multi-well development programme

Primary Goal Testing geological theories in new acreage Rapidly scaling production to 4,500+ bopd

Hamm ; maybe lay off the AI answers a bit. It gets a bit boring.

And " richar " busy complaining about people posting on weekends - after he has read all the posts on a weekend, and then promptly posted on a Saturday afternoon to complain about them. Comedy gold.

Good clarification re Shell Senator.

FYI, MATD did agree and sign a farm out deal with BG Group in 2015 for blocks 4 and 5. BG Group were then taken over by Shell, and they pulled out of it after paying several million in compensation to MATD.

And also FYI, the last RNS stated " that a proposal has been received " byan interested party following their field visit. That had never happened before in relation to block 20.

Dan ; " Under the 2006 Companies Act from IoM, which does not require past profits for dividends. Directors can approve a cash distribution (dividend or other payout) at any time as long as the company will remain solvent after the payment. In short, no accumulated profit is needed – the key legal test is solvency, not retained earnings. "

Well spotted - the IoM Companies Act clearly differs from our Companies Act in regard to the legalities and criteria of how dividends can be distributed, and it looks like it's in our favour.

So having zero debt to date is presumably a big advantage in terms of how quickly dividends could be paid out in the future ? A significant amount of free cash in a given financial year with no debt ( apart the normal liability of any corp tax due within one year) showing on the balance sheet would no doubt make a dividend payout completely legal ?

With our Companies Act it sounds as though we would have to go to Court in order to get dispensation from the need for accumulated profit to exceed cumulative losses since the inception of the company in order for dividends to be distributed.

Thanks Manx - that's very interesting.

What are your thoughts on how we stand currently ? I know you have a very large holding.

Re potential dividends - I'm not an accountant, however my understanding is that dividends cannot be paid out until cumulative profits exceed cumulative losses since thel incorporation of the company. Hence the word " cumulative. " Losses since incorporation have been around 160m USD haven't they ?

Happy to be corrected if I have misunderstood this.