Member Info for ManxKippers

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........!!!???

Yes, Doc.

That is per well. Have 8 wells and you are at 40p per share!

totally agree hamm.

quick *** packet calcs - 60 million barrels over 30 years equals 2 million a year if taken over the full period. a well producing 800 bpd would mean we need 7 or 8 wells for this to be achieved over 30 years.

2 million barrels a year with a margin of say $25 per barrel after all costs and sharing agreements are accounted for is $50 million a year income. at 10% of sp value, this means a sp value of at least 40p per share just from heron, before anything else is calculated in.

looking good!

Price bouncing lower no doubt due to report stating oil will be $60 a barrel by the end of 2025. This will certainly have an effect on all oil share prices.

Yes, Ray. But I am pretty sure they will only agree yo pay the market rate for it.

This is a way off. As posted before, oil is the world's second largest liquid after sea water. This isn't a surprise but we do need to start making hay whilst the sun shines.

The renewables will also kick in, of course. This makes MATD a nicely balanced business for the medium to long term.

Global demand for oil is expected to “level off” at 106m barrels per day (bpd) toward the end of this decade, just as overall supply capacity reaches 114m bpd.

And just popped up now - World faces ‘staggering’ excess of oil by end of decade, warns IEA.

Headline in the Torygraph - not helpful!

Wakey wakey Prof. I know it's been a wet and dull spring but summer is coming.

Time to put your running shorts on and get ready for the race!

Whilst this seems to be quite Spanish in that the lack of news gives a sense of a relaxed approach with the thought of "Why do today what you can do tomorrow" approach, I am sure MB and the team are racing around getting the mechanics all cranked into action.

Mobilisation will take a few weeks. Once this thing is functioning, it will be a mega tanker of a business that will grow bigger and bigger and with that growing momentum, it will be hard to slow it down.

All hugely exciting.

Oh Prof. Come on. I tried to lighten the mood and defend any potential mental or physical damage that Cybertons suggestion might have led to.

It's Sunday, have a smile and a beer!

Interesting Cyberton!!!!!

Reminds me of when I went to boarding school and the girls arrived for the A level years at 16. We invited them into our common room for coffee. A beautiful but "experienced" girl slipped off and came back and sat next to a blonde, innocent and naive girl with straight hair down to her waist and nurses shoes on who had come over from a convent education in India. This "experienced" girl dropped this buzzing contraption into the blonde girls cup and said it was a "tea stirrer"! We had never seen anything like that and were eyes wide open with incredulity.

The Young blonde 16 year old was quietly nudged and told what the "tea stirrer" actually was and she lept to her feet and ran out weeping straight into the house master. The "Tea Stirrer" was confiscated and escalated to the head master and duly sent by post to the parents at home. That would have been an interesting scene to witness the opening of the package and to read the accompanying letter!

The "experienced" girl was sent home and suspended for a week.

So any talk of "tea stirrers" or variations of them are a dangerous topic - in my experience!

That is my Sunday sermon with a lesson in it somewhere!

Enjoy your day everyone. A big week coming for MATD me thinks!

Sharebel- is that 10/ 2025 or 2026?