Member Info for Pilsbury7

Proquo. I'm not naive and certainly don't lack experience in this share after eight painful years. Historically many rampers like WOS did oversell this share with plenty of false dawns. There isn't going to be a sudden explosion of wealth it will come from steady growth as the Farm out venture rolls out new drill sites. Bad Profit knows that this share will steadily grow in value it's just dependent on the business scales up. This year it might be 5 wells or it might be 50 wells? we simply don't know and we certainly don't know the success rate. This is why BP said he has a more realistic view it's called not counting the chickens before they hatch. We know oil will flow irrespective of the holiday season whilst we also know the paper and governance trail will slow down during the holiday season. Nothing in Mongolia runs as fast as the wild horses it's more like the steady plod of a donkey slowly making its way forward. I'm more of a ramper than a negative although I certainly know from experience the influence of power and politics and how matters grind to a halt when the pen refuses to sign on the dotted line! So for once, I will agree with BP.

Well said BP.....some wise words!

The Farm Out option will be a game changer for Matad:

The pipeline to oil refinery will be completed Spring 2026. It will require 610,000 barrels to fill. The Oil refinery is now due for testing and commission end of 2026 in the first year it will need approx 5 million barrels of oil. Moving to 11 million barrels per annun when fully operation. Petro Matad who are the sole supplier and are currently producing 350 barrels a day. Big gap which is why they urgently need the the Farm Out deal otherwise everything just sits there idle. The Farm Out/In deal will mean a company arrives that can drill high a number of wells in a year. Its' possibly Indian or Chinese in origin.

Given the scenario above something will have to change rapidly with Spring approaching and the oil just sitting there in the ground.

Nine years ago on 17/2/17 the shares hit 32.5p with 5,924,974 being traded on that day, go to Yahooo Finance analysis for the evidence. Whilst there were fewer shares in circulation the company Petro Matad was embryonic in it's life cycle. Having survived through really tough times we are now in the growth phase with a really good change of getting to a mature stable platform. :)

Is this position correct?

The pipeline to oil refinery will be completed Spring 2026. It will require 610,000 barrels to fill. The Oil refinery is now due for testing and commission end of 2026 in the first year it will need approx 5 million barrels of oil. Moving to 11 million barrels per annun when fully operation. Petro Matad who are the sole supplier and are currently producing 350 barrels a day. Big gap which is why they urgently need the the Farm Out deal otherwise everything just sits there idle. The Farm Out/In deal will mean a company arrives that can drill high a number of wells in a year. Its' possibly Indian or Chinese in origin.

Actually Bad Profit 11 years ago to the day 17/2/17 the shares hit 32.5p with 5,924,974 being traded on that day so not a mere 100 shares as you mention. If you go to Yahooo Finance analysis you can see the day trading for the past 12 years. :) :) :)

Time will tell although I still remember the days when this share hit 20p plus with no oil!

Krok. I've been in this game for almost eight years holding close to 600,000 shares at 4p. If nothing arrives in March then possibly April, May, June or July etc etc. If it doesn't materialise I would suggest the Mongolian Gov't will have a critical situation to sort outgiven the pipeline and refinery are soon to be completed. They can't afford to wait another year for the oil.....so a positive RNS will emerge eventually...

Chinese New Year has arrived so there is nothing to worry about if nothing happens over the next few weeks. Good news is we will be another few weeks nearer to spring and I would expect to see a really positive RNS in March.

Thanks Abbaza. I really didn't know how this was going to work.

Abzzba. How will Petra China know that a formal offer has been made by VIDESH/OVL and how will they know the level of financing to then outbid the VIDESH/OVL offer to buy block XX? Genuine question.

Aren't we block XX? I'm still amazed that Petro China aren't particularly interested in XX.

Chinese new year fast approaching - the wheels of commerce stop for a few weeks so RNS is urgent this side of 16th Feb

Yes. What happens if farm out option fails. The last fund raise was very close to failure........genuine question

Yes. Thanks for the sensible replies it makes a pleasant change to ask a question and receive a constructive and logical reply.

Genuine question. What happens if PM don't achieve a Farm - Out solution and negotiations break down? PM don't have the capacity to scale up their operations without outside finance? Plus we also know that further dilution is not the solution given the last effort to raise working capital didn't fulfill expectations?

If we don't receive an RNS by the 16th Feb I suspect there will be no news until the end of the Chinese new year celebrations after the 2nd March. You might even find that Petro China are buying fireworks with our money for their own celebrations.... :)

It's like Groundhog day. It's certainly not crap information although it would be good to give it a rest until the next RNS which may arrive within the next month or two. Do also remember that if we don't hear anything fairly soon the Chinese new year is fast approaching which means even the slowest bureaucratic wheels will come to a total stop for two weeks! I've been here for almost eight years so I have experience of how slow things can really get. Good news is the Tortoise did beat the Hare........eventually..

I expect that for once in a very long time Mike B is having a right chuckle at this BB reading all of the guessing games and weird comments connected with his new appointment..........:)

Listed on London Stock Exchange and UK based. Operations : Engaged in acquiring and developing oil and gas assets............they were once known as Longboat Energy renamed to Seascape Sept 2024

Appreciate the reply W1....many thanks.