Member Info for Proquo

Hahaha. You're right Investor, that really does sound like somebody sitting on their own, late on a Friday night with an empty bottle of whisky by their elbow. Actually, on a human level, it's not funny at all. It's sad to see, really. And just before Xmas too.

2026 lining up to be a pivotal year in the life of the company, whatever way you look at it. We are a live going concern with no debt and pretty much nothing priced in tothe current Mcap. We have suitors lining up to come in with us and our Block VII must have operators just over the border licking their lips. Sunsteppe is led by Lula, one of the most important figures regionally in terms of Mongolia's move to implement their ambitious renewables policies. Look at the woman's LinkedIn. Buck even told Jerry to not phone in from Blighty and to put a suit and tie on for the presentation. (Sorry Jerry, just teasing. Keep up the good work). Bring on 2026!

I think they're probably regretting it already

Exact.

Yes Abzzba. Buck's exactly words from 45 mins on are that 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'. That's straight from the horse's mouth and is good enough for me. Just prior to this he also states that they 'expects to receive the witheld amount in January or February. That's 'expects' not 'hopes' or 'hopeful'. That'll do for me. FACTS not the fog of interpretation.

Like I said, great position to be in going into 2026.

Lovely.

Yes Abzzba. Going on official company comms, it seems we are going into 2026 in a really strong position. Costs covered, free cash flow as stated, farm-out well-advanced with a proposal under our belt with others lining up, nice chunk of cash coming our way, the Mongolians relying on us to produce oil for the refinery, Sunsteppe brilliantly positioned to grow exponentially, work underway on Block VII with neighbouring outfits already being tapped up for farm-out, regulatory environment much improved, millions of barrels of reserves with more to come, and NO DEBT. Anyone questioning these FACTS needs to take it up with Petro Matad as these are things they've said officially.

Lovely.

Morning Thorn, morning all. . Yes, I just watched the presentation again this morning. As so often the case with MB's comms, it gets better with a second look. He's clearly confident that he'll nail the farm-out deal, advising that the entity who made the proposal better get in quick as there are others waiting in line. And just for the sake of clarity, I looked out for the bit where he answers the question aboutour cash position - he clearly says that we are now generating enough income to cover our costs AND to have a bit of free cash-flow. He was also very bull8sh about Sunsteppe's chances of bringing a project to point of sale. I also appreciate his repeated emphasis on how key the local Mongolians to the success of the business. Was actually a very decent presentation.

It's the complete lack of debt liabilities that makes the investment case so compelling for me. All those assets, millions of barrels of oil, production, the infrastructure including the electrical hookup which actually nobody has mentioned since the presentation, the assets being nailed by Sunsteppe - it all belongs to us shareholders and we also have first lien if things didn't work out. Just a great position to be in.

I wish all honest investors a good, and relaxing weekend.

Absolutely spot on Abzzba and TBT. So much to look forward to from a 19 million Mcap base. Extraordinary really.

The fact is we have an proven resource worth many multiples of our current 19million Mcap and we have no debt. I'm happy to wait as long as it takes for the inherent value to be realised.

Yes, I'm just sticking to why I'm excited about my investment. I also know that the likes of Adw, who like to abuse, manipulate and control never just behave in such a way on anonymous public forums like this. They always abuser and manipulate those people around them too - it is too deeply ingrained and practised for it to be otherwise. I pity anyone around them, truly.

Even with a 50:50 split 9000 bopd from Heron, our net income from Heron alone would be around 50million bucks a year NET, even at today's depressed oil price. At 70 bucks a barrel, which most analysts predict will happen after 2026, our net income from Heron alone would be closer to 70 million bucks pa. Hence why I am keen to hold long-term. Add VII, and a flying Sunsteppe and the potential here is massive for those willing to wait.

And factor in better technology being used as things progress.

JV rarely RNS's on a Thursday or Friday.

I hope Mr Buck is reading this atm!

Totally agree Ftse. A good deal is preferable, for sure, but if you're somebody who takes the longer view, there's a way forward here where we keep the lot. If nothing else, this must mean that Buck is playing the game afoot with a pretty strong hand. From my point of view, I want Buck to make decisions to unlock the most value, not necessarily to make things happen quickly - these are not the same thing - as frustrating as things are atm. And MB is clearly as frustrated as the rest of us so I hope he doesn't feel pressured to sign something for the sake of expediency.

Yes, Abzza, any farmee must understand that the MATAD offer has been considerably de-risked already. The field is producing, the reserves are there already, the route to market is there, the regulatory environment is much improved and the Mongolians simply cannot allow their refinery to go unfilled. Either us or import the oil for it which defeats the object of building it. This is not a farm-in to a blank canvas of a field, this a proven, producing field with stabilised flow and all the regulatory work done. A good deal and this rockets. Simple.

I've said before, no deal is better than a bad deal, to coin a phrase. We are not a distressed seller in any way so the deal has to be right.

Agreed TBT. As you say, we actually need very little external input to light the fire here; we already have producing wells, so how many more do we need before new wells start being paid from income? Three or four maybe? We could easily get another one onstream with Gobi and/or H2 in the Spring, plus any COS for a Gazelle 2 must be pretty high. So enough cash to get three wells onstream should push us into a different league? Then we still have big reserves to come on book, a potential farm-out at Block VII, all of Sunsteppe's potential to be realised. Atm we are being priced at levels which imply that every asset and all our inherent potential will never come to fruition. For me, therefore, the risk:reward is outstanding. Nothing is a given, but we really are at the point where within twelve months of here this company could be transformed. In fact, I'll use the 'P' word and state that even if Buck had to raise via a placing in the Spring, the input of cash would be so accretive that the pain would be worth it and we would keep all our assets. No cash would be lost keeping the lights on as we are covering costs with a bit to spare. Moreover, I believe Buck when he talks about delivering shareholder value and I'm sure something like a share buy-back would come quickly once the company really moves on. For me, its very hard to see a scenario where this company fails from a 20 million MCAP right now. The most important thing is that the company remains debt-free. That's the biggest security us shareholders can have. I absolutely hope that any farm-in proposal does not include any debt or bond structure attached to it. A large raise would me much better for shareholders instead of that.

All to play for here still, a pivotal few months coming up and I've got at least10k lined up from profit elsewhere to load up with a few more. Gla

Things certainly seem to point towards OVC. My only concern would be that the Indians are pushing closer and closer to Russia and neither the Mongolians nor Buck would want to create any sort of economic bridge in that direction.