Member Info for SenatorPrime

"Movement detected on 3 sites, Gobi, Gazelle and Heron 2." - from Dan's intel.

https://x.com/DanMavr/status/2041410228877402240?s=20

Master, you're known as 'the Snake' here for a reason, hence don't trust your info - sorry bud. Atb

Satellite imagery suggests activity at drill sites, GOBI paid for and expected to have the Well Test as a priority, to ascertain commerciality in Hydrocarbons already discovered....and the Farm Out that was moving towards conclusion from the previous RNS.

Not great time to be out imho and based on a reaction to the oil price stabilising. Overall prices will still likely be elevated for some time yet, even if they're not around $100. Still significantly above the $70 used in the metrics of $40 net pay back per bbl

"It's nothing to do with hitting resistance levels and falling back. It's to do with the oil price falling!"

Have to agree with Doc there tbh & if you look at the approx timing of the drop against news coming out of the Straits being opened up again. Brent around $88 now as opposed to around $96 earlier.

The reality is that the MATD moves on relatively small volumes and thats all thats really happened here, imo. I'd go by the header developments we can expect. That's unchanged!

Have a good weekend all. Any Fram Out/Operational start confirmation and this opens right up, so very comfortable with shares already secured and held.

TBT had the singular ability to singlehandedly (as a Petro Matad holder) sabotage any sensible discussion, by engaging in relentless & inane 'Tit for Tat' nonsense posting with certain other posters, who were only happy to receive such aid in BB discussion sabotaging. Remarkable!!

However (and regardless), I hope he's back as i do believe he's a genuine holder, who periodically does contribute some really useful info.

Get better soon TBT & see you on your return :)

Farm Out likely to land any day now and considering the various points already highlighted - ex. Feb ref to "Discussions with one potential farm-in partner for Block XX are NEARING COMPLETION and we are pushing to complete negotiations in short order", along with the 'successful' March MRPAM meeting.

I doubt that specific wording structure would have been used if negotiations were expected to fail and those party to the discussions will have the best idea of their direction, not BB posters here. The current Geo-political suppl shifts would also strengthen Petro Matad's hand, so the suggestion they're in a weak position has no substance imo & with other parties also showing interest. I think it's highly likely informal talks have also advanced with those, parallel to the official talks with the specific party referenced.

Also, bear in mind Petro Matad have already received a firm Farm Out proposal already from that party. What it's structure is we don't know but good enough it seems to have continued discussions with them.

'China Has Turned To Central Asia To Mitigate Middle East Oil Supply Risk'

"China is accelerating new corridors and reshaping its Belt and Road strategy towards " SMALLER, more resilient and geopolitically secure supply networks."

Petro Matad fits the bill pefectly and moreso when you reference the previous Prime Minister / Mining Ministers meetings with the China top brasss, including the head of the National Oil Company CNPC

"Mongolians have first dibs on any home produced oil once the refinery comes onstream" - That's true Proquo and part of the Petroleum Laws. However, that also applies to current production from Petro China's Blocks 19 & 21. With PC buying Block XX, they can retain the production above the Refinery capacity, for export to China. We also have the potential of GOBI also of course.

Quelfromage1 - "China is getting oil from Iran via the straits - the so called blockade by the US is a joke - so they (don't) do need oil."

You do realize the issue is about strategic supply security, which Iran / Middle East supply doesn't provide. Also, China think beyond timelines of a few weeks, when developing forward strategy.

I also (strongly) suggest you read that article i linked and widerv reading, as it'll help you keep up with events & unfolding developments. That also includes the Renewable import side for China. Atb

Https://oilprice.com/Energy/Crude-Oil/China-Has-Turned-To-Central-Asia-To-Mitigate-Middle-East-Oil-Supply-Risk.html

FARM OUT or BUY OUT?

I'll still go for the Farm Out, unless Petro Matad receive 'a very good offer' (as stated by Buck)from Petro China (or other (party). Oil prices pushing back up again around $98bbl & Petro Matad perfectly positioned as part of China's 'Belt & Road' corridor etc (ref: the article TBT posted a few days ago).

Pilsbury - AGM's usually around March time, so I expect this ones waiting on the Farm Out concluding, which they'll want to present before the meeting. Re-iterating what i've said before and following on from the Feb RNS about 'Farm Out discussions nearing completion", the March MRPAM meeting, was necessary to sign off the 2026 Works Program.

As we know, that meeting was apparently "successful", hence zoning into the final Farm Out signing / RNS imho

A huge year ahead for us.

Atb

"Where is the JV deal?"

StockMaiden - It's a 'FARM OUT' being 'CONCLUDED', with Petro Matad looking at 'upfront funding' of the drill program, for a share of production (apostrophes inc to help you focus).

If you go beyond the daily cut & paste spamming, you may be able to KEEP UP! ;)

And the 'nonsense chat' continues.......

Have a good day all! :)

Bear in mind, the term 'Smaller' is relative, with the current c.350bopd from Heron, expected to hit 5,000-9,000bopd & part of a larger production growth strategy, based on the Heron production safety backstop, along with the Exploartory, potential Multi-billion bbl Block VII etc

I'm still looking at the Farm Out angle, with a small share given away for a limited injection to see stable production, enough to secure debt funding to develop the rest of the field - ref: Q&A 6 on the 'Partial Funding' strategy, from the previous Investor Meet

Q. "The expected capital allocation to growing production. Will this be through borrowing or through cashflow?

A. "We'd like to get over the hump of an early investment in drilling using somebody else's money, get the production level up to a rate where it can at least partially fund the development and then BORROW the rest

However, the synergies between Petro Matad's Block 20 and Petro China's Blocks 19 & 21 are obvious, and along with current Geo-political developments & China State strategic supply aims, makes a Buyout of Heron very possible indeed

WIN/WIN either way.

I'll reference again the Article TBT posted, based on strategic developmentsl covered by very informed persons - 'China Has Turned To Central Asia To Mitigate Middle East Oil Supply Risk'

"China is accelerating new corridors and reshaping its Belt and Road strategy towards " SMALLER, more resilient and geopolitically secure supply networks."

https://oilprice.com/Energy/Crude-Oil/China-Has-Turned-To-Central-Asia-To-Mitigate-Middle-East-Oil-Supply-Risk.html

This has been discussed previously, amidst all the name calling & before the current US-IRAN conflict, which has only heightened the geo-political suplly shift strategy

Thanks but my interests are more focused elsewhere ie the MATD board. However, all i did was quote from today's RNS. If you think the content of that casts a very negative slant ( 'deramping'as you call it) on the company's prospects, that should tell you something

SundayRoast - They have an energy base diversity in Hydrocarbons & Renewables, with a mix of Proven + Exploiratory assets in the former, 100% owned & Zero Debt. Also USD Billions pouring into the Mongolia Renewable space & China energy export infrastructure being built by the Saudis with a $10Bn investment etc. - MATD will be absolutely huge.

You guys should do an interview with CEO Mike Buck or JV SunSteppe CEO Zula Lavsandorj (also the Mongolia Govt. Special Advisor)

However, good luck with BLOE anyways & your other investments.

Re: StockMaiden, really do think everyone should report him, as he has brings zero input to any sensible discussion but looks to only disrupt such.

Atb

Apologies, double posting info as the LSE site is glitching, at least on my PC

I think the overiding concern isn't just the thret of loss of material value but a complete Wipeout of retail shareholders -

"As set out in the Trading Update announced on 1 April 2026, the Group's focus has been to extensively manage its working capital and costs in a difficult operating environment. "

"The Company continues to closely monitor its cash and working capital position and has continued to actively explore and progress a number of potential funding options, which could include an equity capital raise. At this stage there can be no certainty that the Group will be successful in concluding such funding options. If the withholding of VAT refunds continues and funding issues are not resolved in sufficient time, this could give rise to material negative consequences for the Group."

I think the fundamental concern isn't necessarily a loss of value but the possibility of a complete Wipeout of retail shareholder value - that's pretty clear from the reading and as a very real concern.

As stated and expected from an objective assessment perspective, with no tangable sign of resolution on the outstanding issues -

"As set out in the Trading Update announced on 1 April 2026, the Group's focus has been to extensively manage its working capital and costs in a difficult operating environment. This has included reduced working time for employees, ongoing cuts in procurement of goods and services and the continued suspension of all non-essential CapEx, overheads, and corporate social responsibility (CSR) spending.

· The Company continues to closely monitor its cash and working capital position and has continued to actively explore and progress a number of potential funding options, which could include an equity capital raise. At this stage there can be no certainty that the Group will be successful in concluding such funding options. If the withholding of VAT refunds continues and funding issues are not resolved in sufficient time, this could give rise to material negative consequences for the Group."