Member Info for ManxKippers

BBAAAANNNNGGGGG!!!!!!

My thoughts on this remain that we will be pumping oil at the end of Q3 if we are lucky!

MB and the MATD team have always been cautious and stayed this too. I can not imagine a scenario where a tripartite contract involving the Mongolian government with the Ministry of Mining and the official appointed regulator will be able to sign the contract quickly for the movement and processing of the crude from the Heron field quickly. This will have to go through the government legal team as a minimum. This will take weeks to sort, whilst PC and MATD will be ready to sign quickly.

I would like to be proven wrong. But I would suggest to all members of this board that a more realistic time frame for a good RNS and immediate production start up will most likely be in Saeptember rather that August.

Give it the time needed for due process to happen. But it is happening.

Ultimately right Cyberton. But 6 p may be at the end of September when they actually start pumping and selling the crude.

This will not happen for a month or two from now. Certainly not next week.

Yes, Doc.

I have posted a few days ago that proper commencement of billable business will be at the end of the third quarter. So I shouldn't be surprised. The great news is we are on track and a couple of months away from being a sustainable business with huge potential!

RNS confirms everything is happening to plan. Good details regarding finalising the deal with the regulator, ministry of mining and PC too.

Somehow everything seems upside down Re the SP and loads of sales. Madness! SP should be climbing nicely on this news.

I think this is now an optimism founded on some first hand statements and interviews from MB and other key members of the MATD team.

The next 3 months should deliver a lot of uplift for the SP and if Gobi Bear comes in too then the multi bagger potential should be delivered.

I agree Master.

The only adjustment to our expectations is that they may not pump and sell crude oil until September or October, depending on the deal being signed and operational ability to function with PC. But work in July on setting up and connecting H1 ready for full operational status for sure. H2 will be drilled a few weeks later, perhaps 4 to 6 weeks after. Gobi-bear prospect drilling the same, I would imagine.

Huge outage of data due to Microsoft problems. Flights grounded etc.

There may sell be an RNS today that isn't showing yet.

Correct Mals1960.

However, the Chinese government have already accepted the offer of mixing Matad crude in with PC crude for them to refine in China. Therefore, this is now a question of costs and logistics and contracts between PC and Matad.

For this part, the MG regulator is also involved to represent the MG interest in ensuring the best deal fpr them and fair play for Matad too. This may take a little time, buy PC will not want to damage relationships with the newly elected MG and potentially have problems with their ability to pump oil.

I believe that whilst this will take a week or three to resolve, that there are sufficient checks and balances to ensure a good deal for MG and Matad in a reasonably short time.

Let's hope.

Yes, Master. I believe H1 will take circa 2 weeks to hook up. Drilling of H2 will take 4 weeks plus the hook up. So call that mid to end of August.

Regardless, the actual pumping and loading of lorries with our black gold delivering actual revenue depends on the agreement and logistics all being sorted between Petro China and the regulator, who is also involved. Hence end of Q3 at the earliest or the beginning of Q4.

I thought they were accessing Heron 1 only in July. Completion for setting it up only takes 2 weeks. However they were not planning on pumping until they had agreed the deal with Petro China. Therefore they will also drill Heron 2 and hope to see oil being pumped from H1 and H2 and commercialised at the end of Q3 or beginning of Q4.

That is how I understood things after the shareholder presentation video.

CAN SOMEONE ASK MIKE BUCK TODAY ABOUT LISTING ON THE NASDAQ PLEASE?

.....and future gluts.....

Predictive text for you. Sorry!

Good to see Brent above $87 per barrel.

Odd when it is summer and future glues being talked about. Is it so cold and wet in the UK that everyone is putting the heating on?

Alternatively with Labour due to win the election and oil rigs due to close in the North Sea as a result, is this a premium starting to show for Brent Crude due to its potential extinction?

Thoughts, anyone????

A total of 1.42 billion shares after this raise.

Not too bad.

Let's see the company fly now!

I have now settled after the anger and disappointment of the raise.

Having reread the RNS, if MB's words are to be trusted, then these funds are not required to pay the wages or to help get Heron 1 going. This added funding is to accelerate the Heron wells, invest in the expansion and careful selection of the high margin renewable energy business contracts, suggesting there are a lot of rapid expansion opportunities in this sector on the table right now. Finally to drill, and drill soon the shallow well or wells in the Gobi-Bear prospect where they seem to think there is a 100 million barrel realisable extraction of oil - this being 50% bigger than the Heron field.

If this delivers as suggested, then this raise will be ok. The uplift will still be huge on the SP as long as the new fields in the same basin as the Heron Field happens.

And then.....we have the two new blocks for 2025, with luck.....!!!!

Need one say more?

I am as unhappy as you all about the seemingly reckless and totally careless raise. I ask myself - why now???

I was told of a report last week about the US needing to slash interest rates as the money supply in circulation there is about to run dry. This is true in China as well.

I can only think that woth the threat of liquidity drying up, that MB has taken the view that a bird in the hand is worth two in the Bush and by raising now, and quite heavily, he has insured the company can ride and proper over this troubled period that is coming in.

I am fed up, like the rest of you, at this unclear strategy and actions that seem to hurt shareholders having intimated this wouldn't happen.

I am out of any other reasons or ideas and I don't wish to think they have only done this for personal gain.

Marc74 , I share your sentiment but hope the statement in the RNS about a budgeted operation funded with sufficient funds for 12 months of operations is OK.

If the runway has 12 months cash for Operations, then how many new wells does this include? How much income is driven from the income from pumping oil to bring us to a sustainable, safe and profitable position? When will they do a fund raise to put some safety around the company?

I presume they wouldn't want to be closer than 6 months of cash left. So I would presume the race between driving income fast and having to do another raise is now on and becoming acute.

Totally agree Openheimer. A classic MATD / MB poor RNS.

It suggests promise and delivers nothing. Points that worry me a little are the need of working through the ombudsman in regards to getting an agreement with Petro China to take away and process the oil once it is pumped.

Also no mention of whether the mobilised team in July is to get Heron1 pumping oil or of this includes drilling more wells.

I am left second guessing here. Not good at all, but still sounds as though this is heading in the right direction!

Prof - The 40p price won't be achieved until 2025 IMO. But let's see....

The fundamentals are good and this should deliver as long as everyone else delivers as expected and as informed to us by MB........!!!???