Member Info for Medjed

RBM is there a deadline please to respond to Michael’s terms of acting?

Maybe Doc’s conservative estimate at 0.55m barrels / year is not too far off.

Just looking around at small oil producers, very very rough of course, TALOS produces 11m barrels/year with mcap $1.8b. So at 0.55m barrels that would give MATD a mcap of only $90. So perhaps in the near term 7p sp is all we can hope for.

Hopefully production will be much higher eventually to reach 20p+ sp

Good post Stas!

If Matd could hit a £300m+ mcap with no oil and just on sentiment, surely now with oil practically guaranteed it can do it again.

I really need a 10 bagger to recover my losses elsewhere.

There are two sets of bandings, one for single investors one for 2 or more people that is very clear from Mr Cotter’s emails.

My invoice appears incorrect which ever set of bandings you chose. Looks like I have been invoiced for the £25k+ loss bracket, thankfully my loss is much smaller.

Awaiting reply from Mr Cotter to clarify before I sign up.

RBM - my questions please as I may not be able to join on Monday:

1 - have the bandings quoted in the 3rd May email changed?

2 - are there likely to be further fees down the line to see the class action through to its conclusion?

I’m wondering about the costs too. I received my documents today and the cost is £420 inc VAT.

The original documents for a single applicant under £12k loss were quoted as £125+ VAT in the original pro forma.

Why the big increase?

Even at a lower estimate of 4 x annual earnings mcap could be £8m

But there is the huge debt.

Stas I really hope you’re right! 14p would be like a miracle!

So today there are 1420 million shares, back in March 2017 when share price hit 35p there were 294m shares in issue. Mcap was around £102m

So unfortunately today’s equivalent of 35p is only 7p!

Lets hope we can at least get to that sp/mcap

GR’s 100% ownership approach could have worked better if he paid for a OEM plant from the outset.

In the end he went with a cowboy outfit which ended up costing him just as much plus all the lost time and confidence.

If he raised the money for a OEM plant when the SP was much higher we would have been producing by now and probably less diluted.

IG didn’t even inform me about the retail offer or how to take part. So I took some on the open market.

Thanks RBM!

Well that caught me out.

So the dilution is roughly 24% according to RNS.

So the old hype of 8p, if it ever happens, is more like 6p in new money.

I hope that happens because currently I am well down.

I have signed up to CAG.

If COPL goes back to trading after 7thJuly, can I sell my shares and still remain in the class action?

I need the money so was thinking to pull out what I can out even if it is only around £1k

I’m thinking the answer will most likely be yes as I would only crystallise my losses, just thought I’d ask, thanks.

Can’t buy on IG, only accepting sales. Does this mean IG have it sanctioned?

Good points, I’ll shut up I am clueless when it comes to these legals between huge companies.

I hope its good for us. Lets see what happens next.

Curious to see how Summit can dump the bond holders but keep the share holders in place.

Well I hope BP do take it to a higher court, this judge seems to be working for Summit.

Seems like a perfectly reasonable objection. Looks a bit dodgy that Summit didn’t work together with the other secured lender to recover both their monies.

I can get a quote on Barclays around 4.59 but not on IG, very annoying. IG seem to have only 400 shares available for an instant quote lol.

Haha made a blunder myself!

back to 0.5 from 0.1 is 400% back up not 600%

Just some basic maths.

0.01/0.05=0.2

0.2 is 20% so it went 80% down not 99%

but the point is valid. Easy to go 80% down but much much harder to go back up 600% to 0.5