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Starting to feel a little concerned about the sliding price of crude oil. Sobering to see Brent now trading at under $70 a barrel.

Matd will still be a good investment. But perhaps not the potential warp speed multi bagger we were hoping for. Argh!

Master - play area for locals.

So that's why we needed to do the rise at 2p per share! Got it!

Share price cheap.

Crude oil prices have fallen a lot in the last 24 hours and looks cheap.

I hope that the oil price doesn't collapse too far from here before the next RNS arrives.

Hamm. This will be the interesting part. How to expand Matd.

Once two wells are sunk and pumping revenue and if Gobi taps into the huge reserve MB senses there is, then to borrow $50 million for 30 Wells in the next two years will not be a problem. Matd would probably only need to sink another 10 to 15 Wells for expansion to become self funding thereby needing a smaller debt. This depends on MB's drive to locate and drill for more oil in new prospects and how successful that would be.

Lots of If's, but's and maybe's. But all in the right way.

Hopefully dilution of shares is now a thing of the past. Let's hope so!

Bigbench - everybody, get real.

The RNS clearly stated spud for H2 expected mid September and spud for Gobi Bear prospect at the end of September. Allow three weeks for each for drilling. Last local permit processing should be within this window without a problem.

Expect solid news and the long awaited transformation into a viable oil business in October. By the end of October everything will be clear. 8 to 9 weeks from now. That is when the value of Matd can be properly appreciated. Anything before is just hyped excitement and speculative.

Oil prices will surge this week due to Hezbollah missiles and Israel preemptive strike into Lebanon.

Sad seeing war with so much death and utter hatred. We will have to wait and see if this becomes the straw that breaks the camels back for the unstabilising of peace and oil supply in the middle east.

The inference for the construction permit is that it is an easy permit to get and just a formality without concern.

That's OK! Assuming the language used is correct, this would be akin to getting a permit from the local council to put a skip outside a house on the road -we hope! It will take a few weeks but should be in place by the time they are ready to bolt on the rig and put the pressure tested tanks in place. That's OK.

I think the language used in the RNS regarding timings is totally correct. This was never going to be a matter of "we have the land access sorted, there will be oil pumped within a month"!

If we are extremely lucky, we may have an RNS stating a commencing of operations before or by the end of Q3. Probably more likely October.

Anyone thinking this is an immediate turn on for production is unrealistic. October will be the big month for us with news of production of H1, success and production of H2 and hopefully a massive strike at Gobi Bear prospect. That would be a full house for MATD and a great result for 2024!

OCTOBER everyone. We will know all by then.

Keep the wife. Great news.

Keep my mother too. Not too bad!

RNS didn't give us muvh we didn't already know. Contract with PC still being worked over with the regulator. The permit for installation of equipment was new but seems a quick formalty process without concern.

More solid nuggets needed before real lift off in my opinion. But pleasing never the less.

Yes, Bigbench.

As stated before and in MB defence, the last piece is the agreement with PC to take the crude. Whilst all seems to be agreed in principle, the dotting of the i's and crossing of the t's in a contractual form which would need to be approved and agreed by the regulator representing the interests of the government and the people will take time.

This is not an endless delay, but the process will need a few weeks to get through before oil can be pumped.

Soon, shortly, any day etc etc. As long as a piece of string....!

I am having a clear out! I will throw my mother in as well as my wife if we don't get an RNS by the end of next week!

Cyberton - it's known as a win win! Or a solid hedge!

There will be a huge RNS before the end of next week.

I bet my wife on it....!!!!

It's coming soon folks!

Here are the numbers, Master.

1 barrel is 158 ltrs.

1 tonne of crude with an sg of 0.87 means there are 1,149 ltrs in a tonne.

A tanker normally takes circa 26 tonnes when loaded.

26 tonnes equals 29,847 ltrs.

This equates to 189 barrels for a full tanker load.

Your welcome!

Holy Jo!! SP still at 2.5p mark.

Absolutely crazy. Madness even.almost junk status at these prices.

What is going on?

Agree in principle Gigi. But don't underestimate the process of sending a contract to the MG legal team and how long that may take.

This is why I feel that pumping oil before the end of September will be possible and a great result. Sooner will be almost unimaginable!

Sell off well down - sorry. Predicted text!!!

Iran - Israel tensions mounting. War seems inevitable now. Oil prices much lower and still falling. Global stocks we'll done with a huge sell off overnight.

SP likely to go lower today. Fundamentals good for matd, so keep the steady view and hope that China remains in play for us in the longer term without unexpected entry into a political stand against the west!

WALLOP even!