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MKA has been on a long run, from 4p to 37p.

It seems holders there are looking to sell out.

They are looking for mugs to buy in so they can offload.

Imho and DYOR

MKA has been on a long run, from 4p to 37p.

It seems holders there are looking to sell out.

They are looking for mugs to buy in so they can offload.

Imho and DYOR

I had always been straight up and tried to warn people, giving my honest opinion about the share.

Just like my opinion on Oracle Power and how I still think it's a better bet compared to Matad and other aim stocks.

Oracle has a variety of projects in their portfolio. There are lots to look forward to.

540M holder the Sheikh, as well as being a shareholder he owns 70% of the Green Hydrogen project to our 30% through Kaheel Energy so he is very much the driving force behind it.

Then there is the MOU with China electric.

And also the JV with Riversgold for the Australian Northern Zone Gold project.

Any one of these projects, if successful, will be many multiples of the Oracle Power market cap currently sitting at £1.7M.

The key is to accumulate before the wider market changes sentiment about the stock.

When news drops and it rises, it will rise quickly.

Imho and DYOR

Why there were never any chance of a Petro China JV or buyout.

I have been here long enough to know the smallest details.

Before Matad even started drilling Heron, they needed to seek Petro China's authorisation.

The reason for that is because the below ground Heron structure is actually part of the Petro China formation.

Mike Buck at the time in his own words even said "We had to shamelessly drill Heron." This was shortly after the failed wildcat drills for Wild Horse, Snow Leopard etc.

Anyway, Petro China's response was that Matad can have that part of the field. It's of little to no value to Petro China.

Petro China must have known that the field would only flow at 160ish bopd even at that stage. That's why it wasn't worth their time as a major player.

Petro China doesn't need MATD and their 160bopd. They have plenty of resources in their backyard.

Imho and DYOR

From millions of barrels of oil potential to now targeting a 30bopd well.

Says it all really.

Imho and DYOR

Let me tell you the answer.

Even if we use a scenario where Matad is making a $40 profit per barrel of oil (high case), we know it won't be that much but just for an example.

Matad would be making £2.3million each year ( Again, this figure is without tax applied)

Even if we were to ignore all company expense.

It would take Matad a good 78 years to earn back the £180millions spent

And that's in an ideal situation where the life span of the well lasts, the flow rate maintains, and not 1 penny of income are being spent.

We all know that won't be the case.

1. Oil won't be as high as $40 net profit

2. Life span of the well won't be that long

3. Expense not applied in the example

4. There are other financial commitments such as Borzon and Sunsteppe.

A whopping 78 years, that's a lifetime!!!

What an investment

Imho and DYOR

Whichever way you look at it, Matad has spent £180millions for H1 producing 160bopd, and H2 with the potential to deliver 30 extra bopd.

So....£180 million in exchange for 160bopd (or 190bopd if H2 comes in) is a good investment case?

No where in the report that can give an estimate life span for the H1 well...we simply don't know how many years the well can last.

Someone do the maths and tell me how many years for H1 to make back £180millions?

Imho and DYOR

The desperation for 30bopd.

This highlights the dire situation Matad is in.

Clinging onto survival for the company.

Imho and DYOR

It's kinda sad that people are still clinging onto hope of Gobi and H2 to deliver despite there being hard evidence that they have been misled be MB.

Are people really that daft these days. Its clear as day. Just look at the past statements MB have made and compare them with the results.

Thought Matad was supposed to be targeting millions of barrels. Now, rampers are talking about 30bopd from H2 and is glorifying it under a successful outcome

Imho and DYOR

The bigger prize turned out to be 160bopd

What will the smaller prize be on a success case, 30bopd?

Except Matad won't meet PSC agreements.

That's the end of that discussion.

Imho and DYOR

Has anyone of you had actually picked up the phone and spoken with Haywood to express your dissatisfaction?

Come one, be honest, no one here would be happy investment here based on the SP performance, from 15p to now 0.9p.

Imho and DYOR

Actually, to be fair, people can't blame Petro China.

Every party must take accountability and it on Matad that they couldn't sort out their tax issues.

Petro China, has absolutely no legal obligations to lend Matad their facilities.

Matad on the other hand, should really have built their own refinery if they were aiming to become an oil producer.

Who the F claims to do business and they having to leech on their neighbours for facilities and also shamelessly drill into their neighbours block

Imho and DYOR

8 out of 9 wells has failed.

Going for 30bopd for H2?

Thought MB was targeting millions of barrels of oil, or that's what he told the market anyway.

I wouldn't trust MB based on his past poor record.

Imho and DYOR

It's time to face the harsh truth. Matad has a poor leadership. It's MB who has made many wrong decisions that has got the SP to where it is.

The tax issue still remains unresolved.

Remember delayed drilling because of missing paperwork, and borrowed rig sat idling there for weeks and being charged a fee.

These are just some examples of the BODs incompetence.

Imho and DYOR

Come on Hamm, you know very well the chances of a success case is very slim from those wells.

It's more of a post out of desperation and hope.

Can't see a JV coming. If there was one, it would have happened already.

Imho and DYOR

It's been said many times Hamm, £180million of funding, failure after failure and it's all by design.

Who can REALLY proof where the money has been spent. This has all the hallmarks of a c o n.

It's backed up by the actions as seen in the past, where MB raises funds out of desperate situations but then uses the proceeds to chase rainbows.

Eg: Gobi.

He can come back to the market to say it's a duster so then further down the line he can raise again.

This is also supported by the evidence that if Gobi has no oil show, then why on earth would MB raise again only to have another go at it.

It's all the contradicting statements and excuses he uses to raise, and then failure has been predetermined for their own agendas.

Like you have said, there are plenty of options available. I can think of a few. Funds could have gone towards:

- boosting H1 production

- remedying H2

- drilling a new Heron well

- start work on Borzon

But nope, MB chooses Gobi which has previously announced no oil shows. From the report there is no concrete evidence that there is oil there. They are merely guessing that the oil has moved.

When Gobi fails, MB will come back with the beggars bowl and say how he needs funds to keep the company afloat.

Sounds familiar aye

Imho and DYOR

Winter shut down approaching and the SP will drift.

Imho

Gary1960 sounds just like someone from 1960s.

He must have put his pension pot into this share under Haywoods influence.

The infamous 1500bopd turned out to be 70% water from a few years ago.

How much are you down Gary? I believe the SP were 15p during the WRZ16 hype.

Imho and DYOR

The reality:

MATD has always been in a make or break position since Heron1.

People should have known they had wagered their money for Heron1 to deliver.

If Heron1 had delivered over 800bopd, then that would have been very different.

Back to reality, it didn't. Now it's a reset after wasting 10 years plus and £180million of funds at the very least.

Share has been diluted and trust and positive sentiment all gone for Matad.

MB has signed a financial commitment for Borzon, I would like to know where he is thinking to obtain the funds.

It's £1million over 2 years and £14.9million over 8 years. Yes they can back out of the deal after the first 2 years but that would put them in an even worse position.

Imagine spending £1million on a project only to back away from it. I wouldn't rule that out at all since this is Matad.

So what's in it for shareholders?

A) Matad spends £1million and backs out

B) Matad will need to find £14.9 million within the next 8 years

Either route looks very bad for the position Matad is currently in.

Anyone want to invest in Matad after realising how dire things are looking?

Gobi and H2? MB previously announced no oil shows and now having another go out of desperation.

Man...let's stick to factual information, all these activities requires funding and the chances of success is relatively low.

Imho and DYOR