Member Info for Proquo

300 million asset, company covering all costs and turning a small profit already as stated clearly by the CEO himself, nothing priced in for Sunsteppe, 850k plus arriving in short order, farm-out arriving in short order, and NO DEBT!

What a great starting point for 2026. Right, time to enjoy my New Year's day dinner!

Best wishes for the coming year, honest Matadors. Our time will come. And soon.

Just goes to show how ridiculously low our current Mcap is! Conservative valuation of Block XX alone is AT LEAST TEN times the current market cap of the entire debt-free company. It's there in black and white.

The potential here is just mind-boggling.

Lovely.

Yes, of course, I forgot that! Thanks Abzzba.

I'm looking forward to 2026 with Matad. So much big news to drop throughout the year, it seems. Read through the Q and A earlier- nothing much new but nice to see the company state unequivocally that the sp is power than they think is justified. Surprised nobody actually asked the company what they think they are actually worth in terms of MCAP. Wonder if it's worth just asking them, unless somebody has already done so?

Anyway, plenty of greenbox denizens loitering, always a good sign.

TT

I trust Mike Buck to make the right decisions. He's done a good job up to now in my view, in incredibly trying circumstances. And your suggestion that tiny Matd should take a giant like PetroChina to court is, frankly, ridiculous. Plus we need them up until the refinery comes live. I certainly have more trust and faith in MB than I ever will have in those who are just armchair CEO's after all.

As for insults, I'm pretty sure wishing death, cancer, suicide on others and ridiculing people's dead mothers is just about as ugly, nasty and amoral as you can get. I'm not sure the purveyors of such vile filth have any right to complain about anything anyone else says.

Finally. I invested because I believe Buck will achieve a great future for this company. I am not uncritical and some things are frustrating, indeed infuriating, on occasions. But I post here, generally positively, as I am an enthusiastic investor and believe I will make some decent money here in the long run.

Can you explain how anyone who is only ever negative about every single potential outcome for this company intends to make money from it? I've never, ever seen a credible explanation from a stockbasher as to why they do what they do. Hence I just greenbox the worst ones as there is simply no honest reason why they should spend every day of their lives - even over the Xmas period, seemingly - writing endless screeds of negative scenarios about this company. What possible reason could there before this. It just isn't honest.

Anyway, that's my last post of 2025. Best wishes to all honest investors.

HNY.

'Wake up' and do what exactly TT1981? What do you want investors to do?

A good post to end on Thorn. I wish all honest investors a Merry Xmas. Right, time for our local Xmas market, lunch and maybe a cheeky little pastis to kick things off. Never a daytime drinker but well, it's Xmas eve.

Have a good one, fellow Matadors.

Exactly.

My key take-away from the presentation, at around 45mins;

'...we have a decent amount of revenue coming through the door that pays for the company to exist and generates a little bit of free cash-flow on top of that'

And no debt.

For the first time in the company's history, we are a money-making entity going into winter. I'm guessing the greenboxes haven't been quoting this line much. We have the best part of a million coming in to the coffers soon - Mike Buck said he 'expects' this to happen, not 'hopes' or 'would like' -; we are in the latter stages of a farm-out for developing block XX, and have approached other outfits about partnering in Block VII, a massive block. We have millions of barrels of reserves.

Lovely

Anyway, Brent continuing to creep up.

Yes, Abzzba. There is nothing written about Gazelle which indicates that the production has fallen. It's only there if you really want to spin it that way. Of course, it's just as likely to have gone up as much is it might have dropped based on the information in public domain. It might even have gone up and down and up again given that it's only been pumping for a matter of weeks. Standard stockbashing technique to push ad nauseam a negative reading of the information available. But a positive reading is equally valid given the information available. The stockbashers might be right or wrong but what is not valid is to assert that the bopd has fallen as the evidence does not support such a conclusion. I might call their tactics a hermeneutics of suspicion but that would be pretentious, so I won't.

Brent over $62

Bid went from 1.011p to 1.028p today so a little tick up. I think the stockbashing zombies are disappointed this hasn't dropped today. They're working so hard, judging by the infestation of green boxes these last three days, but their best efforts are not having the effect they've been hoping for. The only reason they ever turn up en masse is when they think they can drive a falling sp even further. We all understand the game. But the sp didn't budge for them today. I'm assuming the most recent green boxes are just an angry expression of frustration aimed at LTH's. It was ever thus.

Yep, closer to $62. Trump has basically manufactured the so-called narco war with Venezuela to hit the Venezuelan oil economy.

Moreover, the RNS of 25th August this year states that 'the support of central and local authorities in the area has already been demonstrated during the first phase of our activities." This might also support a theory that the Mongolians have really swung behind us and put our application ahead of others, possibly even Totalenergies.

Abzzba - would be even better if Total had tried to secure Block VII but we got 'chosen' (that's the wording in the RNS) as the contractor ahead of them. Easy to think of several reasons why we get chosen for such a big Block. Nobody knows the selection criteria or process, so it's possible. The Mongolians signalled their wish to support us with the recent extension to make up for the delay to Heron permitting and plus, to paraphrase Buck's words, the Mongolians are relying on us for the refinery feedstock. Lovely to consider that our progress got put ahead of a much bigger entity. It's only a reading of the situation, but nobody can disprove it.

Would be great and there has to be a good chance it will happen. Block VII is huge so must be tempting to any entity already operating in the region.

It's also very possible that we get a second farm-out over at Block VII in 2026 too. A different type of deal than at XX of course, but possibly less complicated a deal to seal. I'm backing Buck to bring these deals home, hence I've invested in the company. That's generally how things work. If you don't think these deals will come to pass, don't invest or adjust your exposure. That's how investing works. But if you're a stockbasher don't ask me to guarantee that things will happen in a certain way. I can't. That's how investing works. It was ever thus.

We have one proposal in the bag, and have two other entities who have previously expressed an interest in a farm-out and who will know that there is an entity ahead of them in the pecking order, so they'll have to make a better proposal. Hence Buck's reaching out to them, to give them the hurry up. Moreover, we really don't need a huge initial deal to light the fire in Block XX. How much for Gobi 1, more work on H2, a Gazelle 2 and a Heron 3? Maybe one other? Maybe end up with 4 or 5 producing wells initially, then have another discussion. That's why I'm expecting the farm-out to be a series of staged payments with clear milestones, with the farmee earning-in as they invest more for further wells. Of course, this is my reading of how things might work out. I can't guarantee this will happen but that's how investing works.

At around 45mins into the presentation;

'...we have a decent amount of revenue coming through the door that pays for the company to exist and generates a little bit of free cash-flow on top of that'

And no debt.

Nothing the stockbashing zombies can argue with there. Just facts. Load 'em and hold 'em.

Lovely