Member Info for JulianM

Fully expected notice of a further conversion, given that the rising sp works against them

No bad news this morning.

Yes ,certainly no obvious signs of the usual Riverfort sells,so perhaps they are out.

Given the increased volume today I wonder what your current thoughts are re a leak

Do hope you are right

Day 24 of "upto 35" so if they are drilling quickly they could be thereabouts.Hope it is not a leaky ship ,otherwise the price drift could suggest negative vibes coming off the rig.

Over the years when asked why he has not bought more shares RY invariably says that he holds price sensitive information all the time which prevents him from doing so.Surely Tom will now hold the same information as RY in which case perhaps there is nothing momentous on the immediate horizon and Tom is looking at the long term prospects.
Whatever the position it is a huge vote of support for the Company and the injection of cash is good news as well.Perhaps this has also come at a cost to Tom in that he might have been able to purchase at least some of the shares at a lower price on the open market or even direct from Riverfort

This line of discussion takes me back to a brief conversation that I had with Lou at a company meeting about two years ago.He told me that he knows some of the directors of Norilsk well and when I asked him about the possibility of a deal being struck with Norilsk he said that they would be talking to Norilsk "At the appropriate time" Surely that time is now

Proactive interview yesterday Very interesting points made by a very experienced geologist to include wells are fracture plays which need careful handling.

Interesting Spainish.How do you know that the issue relates only to water and refuse permits?

Thanks OJ.Fully understandable that the Provincial Body would be entitled to an Agreement with the developer /explorer which would benefit the local community and I wonder whether one is already in place.The Agreement presently sought is a different animal involving only Government agencies and the PB.Have you found anything informative regarding this type of Agreement?

Whilst nursing paper losses and pondering when to next average down the latest setback has at least given me the opportunity to learn a little more about Mongolia.Apparently there are 21 Provinces and Block XX appears to be situate partly in Sukhbaatar and partly in Dornod.Heron is in Dornod so I assume it will be the Provincial Organisation based presumably at the capital,Choibalsan who are currently causing us grief,rather than whichever body controls the one of 14 sub divisions of the Province in which Heron is situate. I assume that this could well be that of Matad ,hence our name.
Choibalsan has a small airport if anyone is tempted to fly out there and lobby the Provincial Organisation!

Thanks macd91 in particular.The concensus is that they have known about this problem for more than a day or two which could explain the drifting sp.Perhaps they hoped to resolve it quickly enough that they could advise us that they had a problem but it was sorted out rather than having to disclose an ongoing problem

If the imminent news causing a flurry of buying relates to the Agreement with ZCDC I would have expected the share price of BOD to at least twitch but it is motionless as indeed it has been for a while

I wonder when this issue was first raised and how long upto now they have been trying to resolve it.Presumably it was about when the depth of 551 metres had been reached.Anyone like to suggest when that is likely to have been?

Thanks AJW. So,essentially it was a storage problem which forced the closure

RNS Of 1st April re exceptional rates. -Following current build up phase well to be placed on production.Oil to be trucked to storage facilities
RNS of 17th April Well continues to flow strongly going from strength to strength with a steady build up in pressure as the well cleans up says PH
No mention of the well being shut down until RNS of 1st July so reasonable to assume until then that well was flowing at a manageable rate compatible with the storage facilities then available.
So did the storage facilities reach capacity causing the shutdown of the well or was there some other reason? If the latter what could that reason be? Was it a problem with the well ? I confess to being confused and my lack of technical knowledge is a barrier to the picture becoming clearer

Very positive article about MATAD in the business section this morning.Excellent publicity

I think the last 2 conversions were at about 2.15 which means they will be making a loss if they sell at the current level.Of course they may be happy to do this if they are content to drive the sp further down so as to convert in the future as an ever decreasing level.Very difficult not to feel annoyed that the bod preferred the easy option of Riverfort than a rights issue in feb last year at around 5p.Far less dilutive and destructive of sentiment.You can argue well its given us the opportunity to buy at bargain basement level but the difficulty is knowing whether we have yet reached that level

Interesting picture.Surely they will not be parading AP as an example of Zimbabwe being open to business with the outside world,only to "kick him in the teeth" (and us of course) by scuppering the diamonds Agreement with Vast.