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THE Government’s plans to extract oil from tar sands at La Brea has raised the ire of local environmentalist Gary Aboud and former energy minister Carolyn Seepersad-Bachan. On Wednesday Newsday published an advertisement titled: “Request for proposal: Development and operations of an oil sand quarry at Parrylands, La Brea.” The Palo Seco Agricultural Enterprises Company said it holds a mining licence from the Ministry of Energy to mine tar sands at Parrylands on 69 acres of land. It invited bids to operate on ten acres for a year, constituting phase one. https://newsday.co.tt/2018/10/04/oil-sand-mining-coming/

I am pretty sure this is what is going to happen. This company has got plenty of potential - that is not the issue - the challenge is to monitise that potential and for this we need a different BOD. Peeps who have a proven track record in converting potential into share holders value. It will happen, just hope rather sooner than later!

new Ceo was very much needed!!!

new CEO is what we need; someone who delivers

@$73 now. Looking good.

the other thing to note is that LK has said he would exceed 1000bopd. That to me means “peak production”, otherwise I assume he would have said 1000 bopd on average for the month of December. For those going to attend the presentation on the 10th: it’s worthwhile asking to clarify the stated target. Anyway, I am pretty convinced he is talking about peak production. He has set his 500bopd target (or was it 550?) last year and deliver that on a peak production basis if you recall. So with that in mind, I am certain he will deliver the 1000bopd peak production by EOY (subject to SD-deal going ahead): - peak production in Q3 was 648bopd + 250 from SD and your are around the 900bopd mark. Add impact of measures to improve production in SD, Bonasse, Icacos and potentially WF from Goudron and you start to see why LK is so confident in delivering on exceeding the 1000 bopd by EOY. All ImHO

"We continue to progress our water injection pilot programmes and have increased water availability to support that campaign through a dedicated 7-well drilling campaign to source additional water, resulting in capacity of around 1,500 barrels of water per day ("BWPD") being available at the end of the period. We are hopeful that we will see the results of the extra water availability during 2H 2018 as the water injection pilot programme ramps up"

Source: Interim Results H1 2018

"Company continuing operational activities with the objective of production from Trinidad exceeding 1,000 bopd by the end of 2018, subject to successful completion of the Steeldrum transaction"

Source: Interim Results H1 2018

and a new CEO

I agree, I got spoiled!

been chuckling all morning:-)

I know, it is simply brilliant!!

Faz, you made my day!! With the quote of the year, lol!!!

I remain very positive about the WF-prorgamme in Goudron. This bit in the RNS, caught my eye...

"A 7 well re-activation programme was completed in Q1 2018 which was successful in increasing field produced water capacity from 800 BWPD to a field rate of over 1,500 BWPD to support the water injection pilot campaign"

I therefore remain positive we will see results in following months.

thanks, Bolgas. Fair points and def hope I don’t end up like LLL :-).... Anyway, I have been a bit naughty, I admit. Thought I’d rattle the cage a bit to get some more answers. That’s not to say I am 100% convinced. I’ll keep an eye on MTR and learn more about it. But again, I appreciate all the answers from everyone

I appreciate your answers, I really do. A lot of it is to do with macroeconomics of copper, which is obviously very important as you rightfully point out. What I am still missing is how the assets MTR invested in will - as demonstrated by facts and figures- will deliver an economic return. Usually when I probe around this, people tell me “it’s a punt, it’s aim, or “if you don’t like a risk stay away from AIM”. Whilst true, I don’t find it helpful. I want to see how money profit MTR can make in say 3 year’s time, and what investment is required and what the COS are. I know these are the questions everyone has, but I read very little about the basic economics about this investment opportunity; I read a lot about macro economics, BOD, etc, quite frankly that can apply to loads of AIM shares. Question is: what is (is anything) so special about MTR that makes it stand out from other commodity shares? I really still don’t know (and yes, you can always trade the bullocks out of this share as Joebop said), but I not my cup of tea

Hi Bolgas and Chesh, Thanks. I know all of that, but find that in everything I have read there is too much talk about factors that are interesting to the commodity market but not enough to MTR (price of copper is only interesting at the end of the day if you have a profitable mining operation, and MTR is very far away from that. At least 2020, if I understand the timetable on the site correctly). Other info I read is all about the potential of the assets, leading to the dream of big wins. I don’t read enough about, what is required for these projects to be commercially viable, which makes me suspicious. Not to mention that MTR is an investment vehicle and does not control its own future. If this is simply a trading share than I will watch and wait as long as needed. That’s fine by me. It just puzzles me: I have tried 2x to ‘tickle’ you guys in the hope of a clear elevator pitch, but no luck so far. Telling, or 3rd time lucky? Hoping you make a killing here, but I don’t get this company at all

agree, production will be more or less double by EOY, and SWP-campaign will be within 6 months of commencement. SP very likely to be at least double from where we are now by then, IMHO

annoy the pants of you lot :-) I have been watching this share for months and saw it go down from 3.2p to 2.3p. It seems that the lower this share goes, the more blogs get updated, charts are made and (wishful) projections are made about ‘what-may-be’. I still don’t get the appeal behind this share, feels more and more like a paper tiger to me. I see little difference to so many AIM-companies: it is all based on hoping to hit the mother loaf whilst digging in some dirt. Happy to be educated with numbers, please: i.e. cold hard cash. (I can read all the blogs myself) Fire at will, prove me wrong, call me a derampers if you must, but show me the money. Looking for a great share to invest in, and thought this may be it, but I guess I was wrong. Or, was I... you tell me.

merely on the basis of low mcap and the 300-500bopd near term (or at least 2019) target. I also like the news about changes in the BOD. Not sure EG is the right man for us.... Question to the wise here: many on you here post an a heck of a lot about PQE and Block Energy. This puzzles me as 1. MYN should be about production of oil and gas through development (and acquisition) of their own (and new assets) 2. it’s uncleae what PQE and Block could ever mean to us, other than selling the share MYN holds at some point to fund capex I am clear on 1: a heck of a lot of work ahead of us, but the portfolio can get us to 300-500bopd. Of current mcap is representative for current low bopd (which it should be), than a significant rerate is extremely likely when MYN hits the above stated production targets. I can see a mcap of £30mn at 500bopd easily. I am clear as mud on 2: I think too many on here talk too much about PQE and Block, when no one really knows what financial benefits lie ahead of us. A bit too much smoke and mirrors, IMHO. I have not read anything clear on the matter by the MYN BOD, and find this lack of communication to shareholders appalling. The same can be said about EG, the website, and the poor managing of expectations around bopd progress (or lack there of). Like I said, I topped up, so don’t give me any bull about deramping. happy to be proven wrong on our investment projects, if anyone can put a number against these investments (in terms of potential financial benefit to MYN). We need a RENEWED BOD, with renewed drive and energy to transform potential into cold hard cash. All this talk about potential this, that and the other is doing my head in. Enough talk, only interested in walk!!