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Why are investor still banging on about the raise? It's done and a lot has happened since then, such as the company becoming an oil producer for the first time in its history. Company's with zero income and with drills to pay for tend to raise cash anyway they can. How else can they survive? The company now has income. With lots more to come. The last raise is old news now. Move on.

As Bigbench has often stated, at this Mcap nothing is really priced in. It prices the proven reserves at Heron at less than 50 cents a barrel!

Corrupt? A BB?

As I suspected, bit of Fomo kicking in, in expectation of a RNS early next week. Expecting good news.

Gusto - it hasn't put me off buying. Nor plenty of others by the look of it.

ADw, there have been further references to this via RNS since the one that you quoted.

Again, for the sake of providing a fuller picture, Mike Buck stated explicitly that there was aplan B in place to get the oil to market.

Well, just for the sake of accuracy, those of us who have been around MATD for the last seven years or so will recall that this company's stock was traded down from about 36p. With respect therfore, I would suggest that we have seen such selling, and on a much larger scale, previously in the company's history. As for rounded numbers, I would also suggest that most short-term traders would try to trade in rounded numbers as it's much easier to calculate and mange if you are trying to trade on a very regualr basis. Ditto for MM's. I'm seeing market mechanics working against the interests of retail which is endemic in sharedealing now, rather than shady conspiracy narratives.

Well, the weather is currently helping us in eastern Mongolia. Slight warming trend and pretty dry. Full winter arriving later than usual. And let's not forget it's considered winter for about 110 days. March 2025 and it's all systems go on all fronts again. Also expecting news form Sunsteepe early 2025 as per the presentation. For the first time ever winter should be aperiod when news continues to flow. Sunsteppe, PSC's, hopefully monthly bopd results from Heron, possible external investment, farm-in etc. So let's not get too hooked into the idea that winter will be a dead time. It won't be. That's great.

I think H1 is they key one as it proves up the field - flow, type of oil etc.

Of course selling is happening - it's there in black and white after all. The divergence of opinion is over whether it's one seller - highly unlikely given the length of time and number of share shifted with no previous Tri - or rather just MM's and traders making easy money in a very liquid stock. I said yesterday a buyer of 500K shares at the start of the week could have comfortably made a margin of .002p or more in a day or so, trousering £1000 easily. Rinse and repeat. After the SP is still higher than it was on Monday this week. So I will continue to refute the assertion of a mythical single seller. Sure, point out selling but we can all see for ourselves. I prefer discussion and analysis of the company's position and developments rather than a running commentary on market fluctuations.

Heron is a decent sized field. If for any reason H2 proves uncommercial then it simply means they didn't find a sweet spot as they did with H1, clearly. Further drilling would be required in order to try to locate another sweet spot. Drilling is much cheaper than the $4million for full well development - I think around $1.5million if I recall correctly - so that would be affordable. The main thing is that H1 proves the viability of the field wrt oil flow, reservoir etc so there is sufficient data and security for any partner or investor to base a decision on. My bet is on the Mongolians giving a helping hand going forward. They've got a refinery to feed one day (Mike Buck was honest enough to express his scepticism that the Mongolians could meet their own deadline for getting it onstream) and given that MATD is a key player in this then a lot of wells need to developed pronto to get sufficient supply for it in a relatively short space of time.

I don't agree that without H2 being commercial then we'll 'definitely' need another raise. Mike Buck specifically said he wants to avoid this, and I believe him. He is a shareholder after all. For me, it would signify that the rollout at Heron would likely be slower. Build the income up over a longer period, get H1 up to a maximum output using stimulation and opening the chokes when it is safe to do so which would be a very healthy Bopd given that we know it flows to surface freely at 821. This then will allow the company to apply for some modest borrowing, or may even generate sufficient disposable cash to pay the $4million for the next Heron well. I'm not saying this will happen but its sufficiently plausible as an alternative to make the latter neither 'defiinite' nor inevitable. Plus there are numerous other scenarios which might play out; a loan underwritten by the Mongolian authorities who clearly like the idea of oil, and revenue, starting to flow; a farm-in by DQE or an other, especially now that we have proved the viability of the field and the amount of OIP is quite large; maybe even an institutional investor who fanciers getting in on the Mongolian energy scene at a very early point of entry. Who knows? But no. another raise is not a definite althought I would add that if a raise did occur again, at least it would be for reasons accretive to company's value and growth rather than for keeping the lights on. If it's not, then it wouldn't be necessary as even modest output from H1 would be more than enough to cover the comapny's running costs. Quite a healthy position now we have income, in my view.

I have no idea.

No - the placing was before we were even close to having income. It wasn't a given that this would happen before the winter. So the most important recent development, catalysed by the Mongolian government's sudden willingness to expedite things for the company, was not there before the placing. This is the game-changer.

The central tenet of the investment case for me now is that the company has overcome many of the key barriers to success that it has encountered - not all of course, but the risk/reward ratio is much, much healthier than it was say, six months ago. There are still things to overcome obviously but they suddenly seem much less daunting than they were back then. Gettting to the point of extracting oil from what we know is a good well is a game-changer. We've been on the back foot for over a decade but instantly we've flipped onto the front foot.

I reiterate the obvious - we cannot be looking at a single seller as this has been going on for months and there was never any Tr1. No single entity ever held sufficient shares to sell that many over such a long period. I think we have had a combination of placing shares flipped out but for the most part it is just MM's and traders making a margin on a daily basis. Market mechanics given the share's liquidity.

Apologies for the typos

Just to remind everyone of the value on offer here, as it seems to keep getting lost in a sea of garbage - 100% WI in an oil producing field with OIP running inot the many millions; oil currently being extracted from a well which flowed UNSTIMULATED at one of the highest rates in the field; no debt: very welcome support from local authorities; company development seen as important by the Mongolian govt; early diversification into sustainable energy so very responsive to stated govt energy policies going forward; huge oil infrastructure investment (pipeline, refinery) by a govt determined to achieve energy indpendence as key part of the country's growth and development; further testing ongoing on drill results from an even bigger field with huge potential there; on good terms with neighbouring operator who has agrred to help with getting oil to market cheaply - discussions ongoing; as the income starts to develop nad increase the CEO has stated that borrowing - probably Reserves Based Lending will come into the picture for funding the company's growth; a CEO who has worked to create very good working relations with the local regulator; big investment put into facilities for local communities to win hearts and minds; Heron field development on a rinse and repeat, proven method of well rollout but also looking to embrace newer drill technologies to maximise reservoir output; moving into the first winter in the company's history where regular income will be coming in.

The current market cap is currently around 34 million.