Member Info for Ostraliamate

Likewise Doz, but I don't draw any parallel between allegations of corruption and other issues by a Chinese company in reference to MATD. Our majority shareholder is a Mongolian company held in high regard in country.
I think caution is required interfering in sensitive political issues which are, in my mind, being very well navigated by the company and the relevant ministry.

The point is the government needs to fix these issues at a federal level or next time on Velocoraptor 1 we are going to have the same issue. The resolution takes time and compromise. No one can get to our oil and I am still firmly of the view that our local access issues, the one last step in this long winded process will be resolved before the end of the year.
Best.
Ost

I personally would not email anyone, let the company do the work through the CORRECT channels as they clearly have been as evidenced by the response shared from the embassy.
The Mongolian government doesn't care that you have shares in a AIM company they just want to consult their people amd find a fair amd reasonable way to share the wealth that will be generated by exploiting the oil in our project and beyond.

They are changing their policies and processes to adapt to a more stable and investment friendly framework as disclosed.
Personally I don't think poking the bear is wise or required.
DYOR.
Cheers

Says it all really.

Mike and the board haven't been sitting in the pool having a beer.

Thank you for your message. I am aware of the issues PetroMatad have had in Mongolia and have been in regular contact with PetroMatad senior management throughout my time here. I have raised concerns a number of times with the Mongolian authorities, including recently, regarding the various problems PetroMatad have faced and the impact this has had on their ability to move ahead with their project. We will continue to support PetroMatad where we can.

Don't be fooled into selling your shares cheap to wolves in sheep's clothing. News coming

This is a classic pre rise shake out. Good news inbound me thinks. Nice try though.

Lol, Hamm buddy , seriously.......you sound desperate. Just enjoy Xmas and don't worry so much. Its all under control and the rewards will outweigh the risks and in the end it will all be worth it. Timing isn't everything, it's absolutely everything ??

Yawn.......

OMG you guys just can't help yourselves. It's like listening to silly school girls bicker (no offence to lady shareholders, its a turn of phrase).
Please refer my previous thread, grab a beer and enjoy your weekend.

MB will let you and the investors know when the exploitation starts so just relax, have a read back through the answers to your questions, that we have all given you now on several occasions. You either fail to comprehend or just don't want to listen. All of your silly question have been answered and it's actually laughable that you think the company is going to give you an email with price sensitive information or any other than a polite "thanks for your email."

Have a nice weekend ill check back after the next RNS.

Have noted some of the comments below . I'm not sure your expectations of the company line up with reality. The company gave a very details RNS which outlined where its at. Unless there has been a material change, they are not bound to RNS anything else. In reality now we are this close to the end of the year I think its most likely that we will get the access issue sorted amd the gear on-site with a delay to exploitation until early next year post winter shut-down.
Always hopeful of a positive surprise and its still possible that we can get Heron producing before winter or even through winter ( if we have access to heater tanks and trucks which are required due to the waxy crude.) Its not inconceivable that DQE or Petro China have these in situ.
I like the fact that the company only RNSs when necessary and avoids any ramping language.
The company is no doubt aware of the timeline delays and has outlined the multifaceted process they are doing to achieve the required outcomes.
It is frustrating but it is what it is, the big picture has not changed amd is still absolutely amazing.

Patience will be rewarded for investors.

Hi all,

I think everyone just needs to chill out. NOTHING has changed.
The board are not going to take a brief case of cash down to the tent and buy a one off license. Perhaps how this was done previously, perhaps not. The sensible and measured approach is to fix the issue at the government level so that future exploitation isn't held up unreasonably. I have seen nothing nor heard anything from the company contrary to this.
MB made it abundantly clear that they wouldn't go in without land issues resolved, I don't know why there is this select groups of people than slander Mike and the board. It's pretty poor form and obviously designed to manipulate people into selling.
The frustrations and the process has been clearly defined and the outcome will be positive, but may take a longer time than you want. That's investing.
Comments about Mike and the board saying they are crooks and all the other comments are just from people that don't understand the process or are not happy with the timeline.
The 4 of you can get together and write a letter, I'm sure it will be great reading and you will all feel better about yourselves. Do you really honestly think the board will care, highly unlikey.
MB has clearly outlined the process and the reasons behind the situation and at face value this should be enough for all investors to have comfort in the very bright future of MATD
To clear up a few other misconceptions. Petro china can't get to our oil so it's not going anywhere and there is still a billion dollar discovery sitting there , ready for us to access when the permits are issued. This is from one structure and not our company makers.
Secondly the board and the small team of staff are on very modest incomes from the company and have been extremely frugal with our money.
This is a patience game, if you don't have it you can sell your shares and move on. Bagging out the company achieves nothing when generally speaking most of the rubbish on hear has been debunked about 10 times in the last 12 months.
The access will be sorted. In reality, as weeks move by, the exploitation may not happen before the winter period this year. Its really not the end of the world, other than being frustrating in terms of timeline.
There is still 2 months in which the access could he sorted and the equipment and people required are mostly in country or at the border as at 3 weeks ago.
Everything will be worth the wait and it's exciting times to be a shareholder.
Looking forward to the next RNS or update to see what progress has been made.

Apologies for what?
Nothing has changed. The tanks are ready , the gear is ready we just need the government to sort the access issues at a local level so we can get the show on the road.
It's actually a very positive RNS.
As the investors here have repeatedly stated. The oil is in the ground, the discovery is made we just need the access dealt with by the Government and everything is go.
As I have said if it takes a few more weeks or a few more months I am very comfortable invested here and will accumulate on dips.

Drilling season runs until December, weather dependant. Once the well is in production it will continue to run through winter 24/7 ongoing. Just reiterating that Heron 1 doesn't need a drill rig but a workover rig to get into production which is apprx 2 weeks total. Still more than enough time to get it done and drill 2 more wells. Heron 2 AND Raptor 1!
Just need the access sorted. I'm sure this will be sorted in due course.
Hope this helps

Great update. Hopefully clears up some of the issues that have been circulating on here. I think it was very good of MB to give an update when his frustration is palpable.

I am still confident we will have Heron on line this year.

Hoping to get this show on the road soon.

Cheers

Hi nope, still here, still very positive about MATD. The issues with the border have been clearly outlined. If you guys want to keep talking around in circles there isn't much to say. Your pot shots at MB are not going to bother him, he is sitting on 3 Billion $ discovery and with both a supportive government and majority shareholder.

The share price is down because we can't exploit the oil across the border, it's very simple. Access issues will be resolved and we are all hoping that this will be resolved in this season. We need a 2 week window between now and December, thats a long way away and a lot can change. I still strongly believe Heron 1 amd possibly 2,3 will be on production this year. But to me and my INVESTMENT, If it takes 2 weeks, 2 months or 2 years it doesn't really bother me. I have plenty of MATD shares, many more than anyone on this board, I don't need the money and I firmly believe the current share price in no way reflects the value of my shares and I will hold until they are north of 50p before selling 1 share.

Everyone has their opinion but I deal in cold hard facts ,not emotion. Has it been dissapointing that we haven't got Heron on production,yes absolutely, but the reasons why have been very clearly detailed and I still fully believe the board will deliver it's strategy this season.

Best of luck to all

How will that change the China border being closed or the PSC negotiations and land access discussions the government are having?
It won't
Nice try though.

Manro, you talk in riddles I talk in fact. I am invested because I know that the longer term view is that we will produce oil and I'm very comfortable with my investment in MATD. If you are not then there is a very easy exit for you sell up and move on. You don't seem to grasp this very basic process which just leads everyone to believe you are not being genuine with your posts and intentions.
I don't care about short term price changes as I am invested for the future not the month.

Good luck to you

Adillathehun exactly.
It's actually hilarious that these guys keep talking down a share they "have a significant position in" no wonder they have so much time on their hands to post rubbish, their investment strategy is fundamentally flawed they buy shares then talk it down "knowing" it's going to 2p.

Well here's a question for Hamm and Manro Why not just sell up and buy back in at 2p. I know why, because your not invested and your not investors but silly little pests that make no sense and clearly haven't got 2 sticks to rub together.

It's laughable

Hi Hamm,

Still here , still accumulating.

Glad you have sold out now amd we don't have to listen to your constant drivel. You should note very clearly from the research note that Heron will be on production this year and 2 additional drills. Thats a lot of activity amd if people with short term trades want to leave I'll gladly continue to accumulate.
The fundamentals of this company have never been better and long term holders know where the share price will be once the above has been achieved.

Thanks for your constructive posts and general negativity, it's wasted, but what ever floats your boat.

Cheers

Nothing has changed. Waiting on approvals and the border to open. Land access sorted at government level soon enough
"We continue the preparations for our 2022 work programme despite the bureaucratic delays, and our negotiations with infrastructure service providers are progressing. As we have said before, we are prioritising bringing Heron 1 into production and we are still targeting first oil this year."

Significant that the exploration permit was extended

"   The 2021 moratorium on Block V has extended the Exploration Period of the Production Sharing Contract (PSC) until July 2023"

Plenty to like, delays are annoying but were latgely expected.

First oil 2022, all good

The workover rig needs 2 weeks and Heron is on production. If DQE deal done they have winterised rigs to continue the program 365.
The border issue appears to be resolved so I am still hopeful of Heron 1 productuon and 2 wells drilled (three on production) by December. That would be an outstanding outcome for the company.
If we manage to drill one of the wells on Raptor trend and it hits , we will see a stratospheric re-rate.

Exciting times this year. Good luck all.

Yawn.....
Manro, Hamm etc
You can keep posting your negative posts but the best thing is you are all about to be made to look like fools, when the project is online. Poor fools, but still fools
I can't wait for you to dissappear from this board and take your 10 shares each and go and play dungeons and dragons elsewhere .
Sayimg MB hasn't achieved anything is pretty rich coming from deramping keyboard warriors. Did you forget about a 4 billion dollar plus, 66 million barrel oil discovery, the first exploitation licence in Mongolia , about to become a production producing assett will millions of dollars revenue per month. All whilst taking a pay cut , navigating through the most disruptive pandemic the word has seen, raising money in a soft market and all whilst you were sleeping.
Give it a rest, your boring, repeated, totally untrue posts are silly and pointless. When you see the next RNS then I hope you apologise , sell up and move on. If it takes 4 weeks or 2 months long term holders know that MB and the board deliver what they say they will , when they say they will.
Looking forward to seeing the company succeed, the reason we invested over 10 years ago.