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Absolute garbage JonnyRod I'm afraid. I was in Copl and it went under because it acquired and built its assets on debt and then structured that debt with a bad actor who effectively stole the company whilst shorting its stock probably with the connivance of people within the company itself - the court case is pending.

MATAD literally has no debt attached to its assets so where you see similarities is a mystery to me. With respect, you're talking total ballocks.

Looks like she's ticking up. Did we hit bottom last week? Time to buy-in or top-up? Decisions, decisions.

Morning all. Yes,it's a shame that LSE does nothing about the multi-id stockbashing gang which is illegal after all. Three new bashing accounts appear on the same day and nothing is done. Shameful.

Opened a premier cru not a grand cru. I wish. And I'm not even drank yet! All the best!

Actually felt it was quite a positive week despite the retrace in sp. I just have a feeling, increasingly, that this is one Aim stock that might just make it to the big time, given enough time. Things just seem to be falling thd right way at last. I will certainly seek to bug more should we dip further early next week.

Anyway good Matadors, we're an hour ahead of good old Blighty here in France and I've just opened a Grand Cru de Bourgogne for the evening's delectation (will be Premier Cru when Buck finally leads us to the promised land or el Dorado). Keep the faith, even disillusioned longer-termers. All the best and see you all bright and early on Monday morning. It's a brave new world in Mongolia!

Yes, I said 'hundreds' rather than a thousand to head off the screaming negs accusing me of so-called 'ramping'. They seem to have a particular problem with genuine investors being optimistic and enthusiastic.

Correct Abzzba. Our netbacks are good. And most analysts see global oil inventories falling through the year. Oil price more likely to go up than down for the foreseeable. Goldmine Sachs predicts average price of between 70 -85 bucks per barrel. And that's without the middle east going up in flames.

We might well have several wells up and running by end of year. No point drilling more until we sort out the ones we've already drilled. Could easily have multiple hundreds of bopd with minimal outlay in short order. And a JV or a sale outright. And big deals coming in through our Sunsteppe JV. I'm completely satisfied and I endorse the decisions taken by the company. Lovely

The oil will get sold with or without the refinery and with or without the Chinese.

Mike Buck has said clearly that the company will try to develop Heron through JV with a bigger entity presumably rather than try to go it alone and dilute through raise etc. In the meantime he feels there is enough work to do on existing wells to up production and income with minimal expenditure. We know this can work as we already had a million bucks worth of oil waiting to go to market. The field will get developed but at a manageable, accretive pace. Without a JV we'll have to wait longer for development. Or it will get sold. It's exactly what I wanted and most investors, I'm sure.

I'm sorry Uund. That really isn't how I remember it. The negs main scaremongering tactic has been an imminent dilution raise. From very, very early on they tied that raise to the published 14 million figure for developing the field ignoring the real figure of less than a million for the initial stages. They absolutely hammered home the 14million figure being raised through dilution literally hundreds of posts. Most investors saw the field developing through increasing income and Buck has said this would be very slow and is therefore trying to sell or create a JV with a bigger entity. These are the facts for me.

Before the AGM the negs were screaming that we were about to embark on a drilling campaign with insufficient cash so would raise and what a calamity that would be for investors. Now the negs are screaming that NOT drilling is a catastrophe for shareholders! Sensibly we're consolidating what we have and looking to JV to sort the costs. Or sell the Heron for a big chunk of change. The negs seem to want it all ways.

Actually I was hoping Buck might talk about using the excess gas. Do we assume that with the pressure decreasing the gas is no longer an issue? I'm also assuming that we are not flaring as the Mongolians would have undoubtedly needed labyrinthine permitting for that.

Anyway it's pointless engaging with you. You're a deramping, manipulative troll.

Selection out of context is a form of editing. Doh!

Just to stimulate 'debate' (I use the word ironically), what's the Heron field worth in a sale situation? P1 and P2?

I'm increasingly taken with Abzzba's (and others') theory that we might see a sale of Heron. So many things seem to point to it, and Buck's emphasising that we have multiple suitors for a JV and are going after more seems could easily be a negotiating tactic to make it clear we're not desperate enough to take a cheap offer. The Chinese don't need a JV to develop the field and block 19 must be sitting there like a giant cherry to be picked. Just a hunch but blimey a sale would really give us a boost.

Still a good time to average down if your average is 4p. I got mine down from 3.2p to 1.745p. Might get it a bit lower yet.

Abzzba. Like you, apart from the word 'estimate' perhaps, I've never seen that statement as in any way ambiguous about H1's potential flow rate going forward. I don't think it's over-egging it to assume that the 200+bopd will increase as technical wrinkles are addressed. Moreover, the technical guy also said clearly that the sand-clogging tended to be an issue with the more productive wells in Block 19. This also seems to suggest that the block 19 operators have been sharing data with us. Just an inference I'm drawing.

I'm looking to hold for several years here. There is so much I want to see play out. I'll also continue to average down so my timeline is very different to yours.