Member Info for Ostraliamate

This is a great update from MATD. Solid progress, methodically working towards production.

The most interesting aspect is the possible drill of Velocoraptor trend, which may suggest some form of extension to the lease is being negotiated.

This is serious structure with massive potential and could have a dynamic effect on the share price with a low cost shallow well. I hope we can drill it in 2022 in parallel with getting Heron online.

Merry Christmas Matadores and let's hope for an oil filled 2022 @$120 a barrel, for our potential Brent Crude!

Too easy,
1. The placing would have been done at a price to ensure the money required was raised. Shore wouldn't put clients into a speculative company at too high a price. Relative to the trading range this was a fair price and the outcome was the complete funding required was raised. It was also very pleasing that shareholders were offered some of the raise. This is very rare and reflects the boards ongoing commitment to not dilute long term shareholders unnecessarily.
2. They were not, the raise was done by Shaw and they were obviously their clients. There is no smoking gun. This question was also addressed in the shareholder presentation.
3. They have? the licence was granted and the conditions if any are irrelevant and probably largely procedural. What are you concerns here? Local permission would be covered in the EL as a matter of procedure.
4. Seriously ? No comment, money has been raised. In the MATD account ready to draw down as required.
5. As I understand this was in relation to trying to drill wells.prior to the winter shut down. The company has an existing contract with the drilling company and they are working to secure a drilling window. This is not unusual.
6. There is no benefit being in country, with covid restrictions impacting travel, realistically everything that needs to be done can be done remotely and in an arguably safer setting, London. As the licence has been granted and there is not much physical activity likely for some months why does he need to be anywhere other than home for Xmas with his family.

Few other points .
Velocoraptor probably unlikely to get drilled unfortunately. The reality would be the new investors would want to see their money being used for production not exploration. The tight timeline means that unfortunately this structure will probanly not be drilled unless they can farm out and renegotiate terms with the government. Dissapointing, but timeline wouldn't allow drilling and licence to be issued before the period expired. It's too risky from a strategic point of view. I'm sure the board will be working to ensure this area can be explored at a later time but the focus will solely be on getting the company revenue from production to allow more future funding options.

Hope this clears it up and we can all move on.
Production is coming and the wells will be drilled and put into production as per the clear plan.

There may be speed humps along the way but my personal view is the company is in a very good position and is being led well by Mike.
I genuinely wish everyone all the very best for the upcoming drilling and production. Hopefully we find a farm out partner to accelerate production and exploration as that will probably be the catalyst for significant share price increases. As some have stated a takeover is a live option. Would have to have a significant premium of 20 or 30p to make it attractive. 66 million barrels is a significant amount of oil.

Ok Hamm / Manro,

What are your specific concerns?

You both talk in riddles. Dot points are fine.

I'm sure all of your questions have been answered but please write them down once and for all and I'm sure they can easily be answered.

Here's your opportunity to ask specific questions

Hamm,

Give it a rest mate. Seriously it's like a broken record. Mike has done exactly what he said he would, when he said he would and navigated his way through a minefield to deliver us all a fully funded, production ready oil company with massive upside and some exploration potential. All in a frontier country, but with a supportive government keen to secure long term supply for their refinery which is coming.
We have very favourable PSC and not withstanding the usual global risks etc we are positioned in about the best position the company has ever been in.
I bet I have far more shares than you and I'm still accumulating and will continue to do so. If you have an issue you have had multiple avenues to ask questions of the board however you chose not to, which probably tells most here you don't have a significant position.
I hope you do hold shares and you can look back mid next user and say well that worked out rather well.
Good luck all.
A pre Christmas update to get the price moving would be great.

My understanding is they already have a rig contract framework and agreed terms from previous drilling. It's just a matter of confirming availabilty , agreeing to the schedule, and the number of wells and finalising the targets etc .
Seismic is not time critical, don't see any reason this needs to be a priority. The focus will be on production for the benefit of the new shareholders. As mentioned before there is a lot of oil in the ground and with the oil price recovering the economics are strong. The share price will catch up to the story sooner than later.
A takeover is still a live possibility especially considering the pressure to find new supply, from China and internally for the new plant.
I'm sure Mike and the team are working diligently to be ready to roll as soon as the weather conditions allow now that drill funding is in place.
Will be an interesting period thats for sure

I don't want to rain on your parade but in my opinion it is unlikely there will be any rig news until around February / March due to the winter shut down. There may well be ancillary news around contract progress , farm outs, or the plan for development and this may be a short term catalyst for price rises. The rig may well smash out 4 wells back to back or drill a hub in a strategic area to maximise flow. The share price should naturally rise towards drilling and closer to the commencement of 2022 operations.
We all hope there could be additional news around farm outs etc but I think realistically these discussions will be later in q2 2022.
Exciting times ahead in 2022 but important not to have unrealistic expectations of the likely timelines and progress.
Hoping for a Christmas surprise but looking forward to being on production in 2022.
It could be a great year.

Just some food for thought assuming 4 wells producing a modest 400 barrels a day

400 barrels a day @$80/ barrel x 365 days = $12,000,000 USD per well
4 wells = $48,000,000 USD/ year.
Fully funded into development

66 million barrels @ $80 a barrel = $5,280,000,000 USD from one structure.

The price is only going one way and the upside is staggering.

MATD will be producing oil in 2022.

DYOR

Accumulate and hold on.

They have?

Mate you need to tune into the investor presentations. All your questions were answered and if you really had a holding you could have asked anything you liked of the board. If you don't like the share sell up move on. You're boring me with the relentless and misleading negative posts.
Simple math, 66 million barrels @ $100 a barrels is a big number and thats one structure. Provided all goes well next year we will be a producer with a high oil price and with some massive upside potential for farm outs into some frontier wells with massive scale.
I'll buy any shares you wish to sell.
Good luck, don't miss the boat
Cheers

What do you mean?
The company has clearly communicated what their plan is and the timing for same. They have also outlined why they didn't rush to try and drill in the tail end of this season. Just because you don't like the answer don't discredit the board. Mike has clearly outlined the plan for next year. The drill rigs won't be on-site until well into March / April next year when the winter season ends so asking rhetorical questions is a waste of time. If you were a shareholder and you bothered to tune in you would have had all your questions answered amd you could have asked specific questions that you required answers too. You didn't?

My only question is why we the board is choosing to spend money on 3d data collection when , in my view, we should be using that money to drill velociraptor which is a company maker. 3d data is nice but not urgent and the potential upside from a successful wildcat well would be absolutely company making.

Food for thought for the board.

Don't be too sure of that. A lot of news flow due before the end of the year. Possible farm out of other blocks, well plan, contracts, deal for production off take . Don't get left behind as news can drop any time and the price is not reflective of the current true value/ position of the company.
Hopefully the true value with become apparent before too long.
Best of luck to all LTHs
Southy

It won't because long term holders will keep buying below 3 ??

Although the usual derampers are in full swing just please keep these points in mind.
Mike will outline the plan for the drilling and Heron production at some point between now and the end of the year.
There is a strong chance of a farmout of the other block and significant exploration areas, which could bring significant exploration success, on the previously identified structures. If one of these is drilled and successful the game changes again.
The capital raise was completed and the shareholder deal was fair and reasonable. Many small cap companies don't allow shareholders to participate in raises so the fact that they did is positive. Shore is a big company and the 10m raised is significant but also represents fair value based on risk and reward.
The company is now fully funded , licenced and ready to produce revenue from early to mid 2022. The significance of the discovery and the value of the oil in ground , in conservative valuations, is significant and could be higher based on extraction improvements.
All in all big money has been raised and sure the price was lower than anticipated, but in the real world it was a fair raise and the significance of the licence and oil in ground will reflect in the SP soon.
By mid next year the share price will be significantly higher than the raise price and between now and then there could be a lot of positive news flow from farm outs to forward plans for Heron and a lot of other good outcomes for investors, not gamblers.
I will continue to accumulate with every spare cent i have and am happy to hold and wait for a few more months for the start of a significant new chapter.
Good luck ,DYOR and please keep the faith.

Yeah the share price might fluctuate between now and next year the fundamentals of the company have never been better.

Don't be fooled by the wolves in sheep's clothing on this board. I was dissapointed with the raise initially, after sinking another 100k aud in at 8p on the licence news. But to be honest the placement was coming and this is the least dilutive way of raising the funds that the company needs to move from explorer to producer.
The timing sucked for me personally but guess what, the board doesn't know my situation and they are most definitely acting in the best interest of the company and ALL shareholders by raising significant funding and at a price that was relative to the moving average.
I think there will be reasonable news flow between now and the start of the new drilling season and I will continue to accumulate holdings as the company is very well placed for significant success next year.
Good luck to all long term holders. No one has been in longer than me and I still feel very confident we are going to have a significant year in 2022 and the company is being well run by Mike and the board. Some people have very selfish agenda's but Mike has delivered exactly what he said he would, in a reasonable time frame considering the challenges which were significant.
Looking forward to the production of Heron and hopefully a farm out to target the big juicy structures which may really put us on the world map.
Giddy up

At the end of the day the funds had to come from somewhere so i see it as a positive that we are now fully funded through Heron 1 to 4 and we can get on production with fairly minimal dilution. I believe shareholders get a 1 for 16 share purchase at 3.5p so all in all I think it is a very good outcome. We have a licence and are fully funded into initial production with absolutely minimal dilution.
Great result
Well done Mike Buck

This is not true. There is no deadline for the RNS, and your post is both misleading and deceptive.

We all want the RNS but let's stick to facts

The timing will be what the timing will be. In reality the license will be issued when it can be and the announcement will be made in due course.
The main thing to remember is we have made a significant discovery of oil and the oil price is recovering strongly.

In my mind there is probably not much likelihood that drilling will commence this year, although we could be surprised to the upside here if the off season was well spent.
The main things on my wish list are.
1 Licence granted
2. Funding arrangement
3. Plan for the next 12 months
If these three items are covered in the next release then we have a very good chance of seeing some significantly positive share price movement. We do have significant oil in ground and some exciting prospects to explore, which could be potentially incredible in size based off the data available to date and the work done so far. The fundamental share price should be a lot higher than it currently and hopefully this gap reduces with positive news on the points above
Some people keep puting deadlines on this board, for Mike and the board, which in most cases are simply not factual.
I fully expect that we will see either a licence RNS or at least a licence update RNS by the end of June and this timing is consistent with what the company and Mike have said. Sure I would love the RNS today, but it doesn't change the fundamentals, and whilst frustrating, the timing has blown out through a major world pandemic, working with an evolving nation on a process that has only been done a handful of times and through a change of government. In a global perspective, it has not really been that long a wait.

My personal view is the company has been very smart to not apply too much pressure and to simply follow the process, provide what is requested and to remain silent unless there is something to say.

Best of luck to all for the next RNS, let's hope it's a cracker!

Manro you are a real glass half full kind of guy. I like the banter. Do you own MATD shares? I hope you do

The CEO, whether super human or not, has absolutely no influence on the timing of the licence issuance as much as we all like a scapegoat. We know meetings have been held and the process will take as long as it takes. I remain confident the next RNS will provide significant progress towards the EL or at least confirmation of the exploitation area and the resource reserve report. If the licence comes post this then so be it. We are all keen to progress to production and further exploration.

Cheers mate, good luck to all

Generally a RNS is issued around the start of each month. Lets hope not the 1st of April !!

Meetings held virtually as outlined in RNS, and no doubt by lots of phone calls Our biggest shareholder has a large presence in Mongolia too and no doubt would be assisting.
The world is running on zoom, I'm sure we can too.
Cheers