Member Info for Pilsbury7

The latest RNS was of little significance and caused a couple of ripples. The bashers won't to make it feel like a tidal wave that smashed the foundations of the progress to date. It was a ripple and nothing else.

The RNS didn't give bad news, it just gave an update to the incremental steps that are being taken to develop the oil fields. I don't even think the RNS was required and should have been held back for a further update of significance. The one question that requires answering is when will the oil fields be developed to supply the + million tonnes of fuel stock for the oil refinery that is still on schedule to become operational within the next 18 mths.

The RNS just gave no critical updates - see below:

Pumping at Heron 1 is now in operation to lift oil to surface with the well delivering c. 160 barrels of oil per day (bopd) with very low water cut below 6 %.

· Evaluating the merits of converting Heron 2 into an injection well to provide reservoir pressure support to Heron 1 to enhance productivity and recovery.

· Tenders for connection of Heron 1 to the local electricity grid to offset diesel usage are under evaluation.

· Gazelle 1 well test planning is ongoing with potential to put the well on production immediately if the test is successful.

· Gobi Bear 1 geochemistry study has confirmed the presence of migrated oil in the reservoir section.

· Block VII Environmental Baseline Study completed, 2025 budget approved and technical evaluation ongoing and attractive exploration targets identified.

· Discussions with potential partners on Block XX are ongoing.

It was a £1 party at the Grosvenor - that was about 5 - 6 years ago although I think the Champagne may have been watered down by now!

Do we have any up to date satellite images of the oil fields to spot any developments? The next RNS is going to hopefully set out the future of the summer months to develop a Programme that will supply enough stock for the oil refinery. I still believe the oil refinery is a key game changer following the change of political will and power that is pro PM.

Generally arriving in February, herons often lay their eggs in the same nests each year, hatching between March and April.

There you go we are going to have plenty of new Heron hatchlings in late April / May. Nothing to worry about!

TBT / WOS I think investors need to read the full story of what a paid basher really is: Cut and paste into browser for full transcript of what a basher really is:

https://www.reddit.com/r/WKHS/comments/pvm8p7/info_confessions_of_a_paid_stock_basher/?rdt=40330

We have had plenty of these character profiles on the board.

Hey Billyrvalentine. Well played! This time last year I was off to watch the Masters and then went on to play TPC Sawgrass along with Slammer and Squire golf courses.

When the shares get to 75p I reckon we should fly over to USA and play Wolf Creek GC in Nevada. Check it out amazing place! Booooooom!

Billyrvalentine. I'm not playing golf today got 27 holes tomorrow in this lovely warm UK south coast weather. WiseOwlSpeak will tell you that I am on the side of the rampers particularly as I hold 550,000 at 4p a share. Since 2017 I have always believed good things will eventually happen particularly when the oil refinery starts demanding fuel stock to process. The pushing and shoving between rampers v derampers is just getting boring and petty.

The rampers and derampers of this stock have speculate on so many different scenarios the quality of information held on the information board is worth nothing to any serious investor. The RNS is king of the information flow and is the only source that will hold valid information to the future strategy of Petro Matad. So, lets all just wait for the next RNS which must surely appear within the next few weeks.

Is Grok the AI analysis tool?

That comment you made below Doc has just made you Muppet of 2025.

3p? And I bet many on here would take that and end up glad they’re out of here after so many years.

You have no idea how many investors are stuck at levels around 10p plus.

Where is the RNS prior to the AGM? We normally receive an operational update before the meeting - any thoughts?

Please ignore this Stockmaiden you don't know what your talking about - thanks

So why are you still here Scarlet V your comments are illogical and they are similar to the ones made by Stockmaiden who has been trying since last Autumn to get investors to sell their Petro M shares.

Elixir Energy and JADE are going for gas.

StockMaiden. A few months ago you recommended that if inventors didn't like the MATD share then they should sell up and move one. If the kitchen is to hot get out!

Why don't you take your own advice?

Doc 83. If you look at the bottom of the report you will find the author of the report and then you can do your own research to his background. DYOR.

Doc83. It's a valid point although not particularly significant given the reputation and background of the Author who wrote the report.

I'm off to golf. Try to have a break from the key board.

Here is the summary of the Progressive Report. This is a report that is valid and sets a true picture through a professional investment report.

Please remember that the majority of posters on this BB have their own private squabbles against one another, they are amateurs who try to guess what is going to happen in the future and have the mind set of kids in a play ground.

Here is the true picture.

Heron development

We detailed the development plans earlier, and these are unchanged from previous assumptions. For the base-case scenario we have assumed capital expenditure of US$251m, which covers the drilling of the wells (US$160m), the facilities (US$85m) and G & G/Seismic (US$6m). The operating costs once the field is up and running are expected to be US$10m per annum. With the target upside development, we have increased the facilities expenditure to US$135m to leave total capital expenditure at US$301m. The operating costs on the field are expected to rise to US$15m. We have also assumed that the company has spent US$57.7m on the field, which will be paid back through cost recovery.

Asset valuation

For the asset valuation, we take the value of the Heron Base Development, as there is still some uncertainty with the Heron Target Development. Although the reserves are in place, there are questions over the ability to get the recovery rate higher. We assume that there is a 50% chance of achieving this. As such, we add 50% of the incremental value of this development. We do not add any risked exploration given that we believe management is concentrating on building up oil production at the Heron field in 2025. We adjust for the balance sheet, with the company estimated to have net cash of US$2.5m at the end of 2024.

The following table details the asset value we derive for Petro Matad. For the Heron Base Development, we derive a value of approximately 9.3p/share The Heron Target Development and the cash balances add a further 2.6p/share. This gives a total risked valuation of 12.0p/share.

Doc83. Interesting scenario you set ref MG manipulating Petro M to go bust.

Don't you think Petrovis would have something to say along with the ministers who already have shares in Petro M plus haven't MG gone out of their way to try and ensure everything is above board which has caused the hold ups? I thought Mick B sounded quite positive for the future promising to inform the share holders of the contract ref profit sharing with Petro M and MG.

Thanks TT1981 have a good day.