RE: RE: MATD22 Jun 2018 00:08
Don't know what the fuss is all about.Matad has no assets except cash enough to fund six planned drills,4 in '18 and 2 in '19.The rational for the placing seems reasonable i.e. savings in rig costs.Is Mr.Buck a straight shooter?We don't know but based on his media presentations it would appear so and there is no reason to suspect that he is anything other than that.So he deserves the benefit of the doubt.I note that in the pen-ultimate RNS we were advised that Matad was hiring two more geologists,a strong indication that this is a serious exploration company and that there is a lot of very interesting geology to explore.The next twelve months will be interesting.But there is no evidence of malfeasance, rather a CEO making rational decisions to build an oil producing company that should have significant potential.