Member Info for Proquo

*the future

Best of luck for future Starbuck. Each to their own.

The stockbashers' position is like a food-critic giving a restaurant a no-star rating and then deciding to eat there for breakfast, lunch and dinner every single day for months and continuing to post their scathing review forty times every day whilst getting their fellow critics to do exactly the same. Hahahaha

Yes, that is rather amusing, Investor.

There is never an honest reason why a BB is infested with crinimal stockbashers. My particular favourite is when they claim to be doing their thing in order to protect the vulnerable. That always raises a hearty guffaw. Let's just be clear here- coordinated stockbashers only turn up 24/7 en masse in order to work together to manipulate sentiment and hence the movements of the sp. They then all bleat repeatedly about their bashing having any effect on the sp and investor behaviour and in the same breath then accuse investors of being rampers, without being bright enough to recognise the inherent contradiction in their position. If they say they have no effect on the sp then why do they obsess about so-called 'ramping' which by their argument can have no effect on anything.

I just greenbox and let them all rot together. Just makes reading the board easier.

Of course, I'm expecting to become a millionaire with my MATD investment! Might then be able to buy a shoe-box pied à terre in London.

I'm in Burgundy. Old school. France has its problems, of course, but you can still find an incredible quality of life here and you don't need to be a millionaire to do so.

That's true. I can, however, still buy my excellent morning coffee here in France for 1.50 euros (about £1.30). . Plus a croissant for 90 cents and my little café on the square will let you bring your own food if you buy a coffee. Which is what I'm doing now. I do, however, avoid the shot of morning cognac which most of the locals seem to enjoy for their 'petit déj'.

You certainly can't buy a bottle of water for 45p these days let alone a barrel of oil!

Yes, you're right about the toxic header, Realpro. I didn't pay attention to that when I posted. Awful that honest investors are endlessly attacked by the stockbashing gang. The world is, unfortunately, full of these types.

Good morning all honest investors. Beautiful day again although we need some rain!

Useful discussion on values of our OIP. I work on the rough rule of thumb of one third of overall value for the purposes of JV or sale. The other two thirds are obviously for costs, time and profit margin. Apparently this is an accepted metric in the wider industry. Any JV talks have to start with an accepted figure and work from there. Any company approaching us knows we could go it alone if we needed to so we're not looking for favours and the fact that we have proven the field will work with H1 just reinforces our negotiating position.

However, one assumes that any potential partner will want the tax situation cleared up before committing to anything although the rapid pipeline development must add to our attractiveness too, given the potential life of the field.

We look in a great position to move to the next level as a bonafide oil company. Exciting times for the sensible and patient. And Sunsteppe is just a little bonus present waiting to be unwrapped. That could be huge!

Hi Master. Genuine question - what would you have done differently if you'd been CEO here? I accept that Buck makes no real effort to market the company, but it seems to me that the overriding issues we have faced are to do with the difficulties of working in Mongolia, exacerbated by having to deal with a very large Chinese entity, all on top of Covid. Buck has brought us to production, income, a deal with the Chinese to sell the oil, diversification with Sunsteppe, discussions for JV for Heron, good relations with local government, regulatory problems overcome, and all without incurring any debt. Sure, the market has lost patience with the company but I not sure Buck could've done much differently but I'm interested to hear your alternative views.

Yes Investor and the MM's keep trying tree shakes to garner a few more.

Well, the stated position is that we are in talks for a JV. Buck said he couldn't say more due to confidentiality issues. That's the status quo as far as I'm concerned. Master's satellite image analysis suggests little work at Heron which can mean either we are awaiting funds to do it or the JV discussions are superceding the need for further works atm. Take your pick.

Also, for accuracy, I believe the figure was netbacks of $43 on a Brent price of $70.

I'm assuming they need to do work on H2 to convert it to an injector well. Hence a workover, no? Have I used the incorrect terminology? Apologies if so.

Great post mmafr. Spot on. We're in the best position we've ever been in - fact. As we have no debt, that's 800k to work with straightaway About 250k pending. Should be another approx 180k for May and then June should pull in over 200k. Add in the Petrovis soft loan and we've got enough to keeps going and do the low-cost workovers on H2, Gobi and Gazelle. In the meantime Buck keeps working on the JV. I'm quite happy with the decisions taken, and the progress made, since the AGM.

Lovely.

I've been looking at Ntog but the debt is an issue for me. Good luck anyway. I'll keep an eye on it still.

*believe

Matad has no debt. Ntog has a few million, I belive. Huge difference.