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But you don't know if they will use a "3 PHASE SEPERATOR" Wiseowlspeak.

In the March RNS the company stated they may look at alternative modifications.

Are you an Oil Engineer now to advise the company what methods to use?

Taken from the link Mullins58 has posted:

"It is important to follow a set of steps so that companies can ensure workover operations are being performed safely and efficiently.

a) Planning: A detailed plan is developed for each workover operation, taking into account the specific requirements of the well, the goals of the workover, and the available resources.

b) Safety: Safety is the top priority in any workover operation. All workers are trained on the specific hazards associated with the job, and a thorough risk assessment are performed before work begins.

c) Equipment preparation: All equipment are inspected and prepared prior to the start of the workover, including workover rigs, tools, and safety equipment.

d) Well evaluation: Before work begins, the well is thoroughly evaluated to determine the extent of the work required, and to ensure that the well is in a safe and stable condition."

Doesn't sound quick or cheap to me at all if I'm honest.

All in my opinion and DYOR

MB is a sales man. Some may refer to him as "snake in the grass" for his record of hyping up expectations, often ending in disappointments as seen in the past

Don't forget all the wild cat drills estimated to have huge potential and up to 70% COS have all turned out to be dusters.

Hence, in order to protect your investment, if MB in the future says 70% COS, I would lower it to 20% COS. If MB says it will be a quick job, then expect the next 12 months or more. If MB says flow rate of 800bopd achievable, then know that figure to a quarter of that.

All in my opinion and DYOR

"I don't think you can just turn the tap open and increase the flow rate. I would imagine a stepped approach of 200 bpd going to 300 bpd. Hold, inspect, evaluate. Urgently turn it down if sand becomes present again or turn it up after 3 or 4 days to 400 bpd to repeat the evaluation."

A fix in stages under a safe controlled manner is what I have been saying, except I don't think the final flow rate will be anywhere near 400bopd.

I think it will be 200bopd, with a bit of luck 300bopd. I say this because MB has a history of reporting results which in reality are far less than it actually is.

All in my opinion and we will find out soon, I hope

More personal attacks I see.

People have really lost the focus here because nothing I say, or you say, will move the SP in either directions.

The very few genuine holders on here are trying to decipher the information given to get a glimpse into the future events and it's certainly not going to be 50p by June.

No company will survive when their expenditures far exceeding their revenue. Strictly speaking, to-date Matad has not made a penny. It is a forecasted revenue expected from Heron1 sales.

We still do not know what flow rate the well will stabilise at, or if the well can be improved, or how much time and funds are needed for an attempt of fixing it.

We do know the company is burning through £300K or thereabouts monthly. To top it up the burn rate could likely increase with the financial commitments of Borzon.

Those that bought in didn't really do enough research it seems. The talks of JV to save Matad, in my opinion is a fictional event the rampers have come up with to pump the price. The chances of a JV is very slim and Matad couldn't come to a deal with anybody in the past 10 years.

Matad still isn't out of the woods yet.

All in my opinion and DYOR

I really don't understand why some people are triggered by another's opinion, especially when they are supported by facts.

If they are confident with their investment, all they have to do is wait for the results. There is absolutely no need for insults and personal attacks.

I know fully what they are doing, and they know it too. It's just a immature attempt to try and silent people on what they don't want to hear. It's not about constructive debates or facts or what not.

Most here don't even care about the company. They have bought in on the hype and thought they'd make an easy 10-20% on the rise.

Reality tells a very different story. Imagine there are two queues:

Queue1: The truth

Queue2: What you want to hear

The rampers would all be queuing at queue number 2. In additional to that, they would prevent anybody queuing in queue1 or speak any truths or even have any slightest concerns about the company.

Selfish is the word here. Especially in this day and age, where freedom of speech are supposedly valued. Shame there little of that on this board.

All in my opinion and DYOR

CEO Statements Vs Actions!

Let's look at some past statements from the CEO and his actions.

*When MB said 60-70% COS, all wild cat were dusters

*When MB said ongoing JV interests from multiple parties, no deal in the past 10 years

*When MB said exclusivity and support from the Mongolian Government, extensive bureaucratic processes hold ups

*When MB said fully funded, he then raises funds a few weeks later

* When MB said the company needed funds to help the company stay afloat after the COVID period, he got the funds and went and blew it on Gobi wildcat.

*When MB said Gobi evaluated to be a good prospect, it turned out to have no sign of oil

*When MB said H1 flowed at 821bopd, he then choked back the well for a maintained flow rate of 200bopd

*When MB said Heron has millions barrels of oil potential, he then goes bid for the Borzon Block and thinking of moving onto that block instead

* When MB said H1 is a quick easy fix with a cheap sand screen, he then says in the next RNS alternative methods may be required

Would you wanna trust such man on your investment decisions?

All in my opinion and DYOR

2857mal

Unbelievable you are wishing karma on someone because they have spoken truth about the company.

You should direct that karma at MB who had consistently made inaccurate statements which had caused the SP to drop and resulted many shareholders losing money.

Perhaps we should review the past statements he had made.

DYOR

Your oil expert will come out with the beggars bowl pretty soon, in my honest opinion and DYOR

Abzzba says:

"stockmad says on sand issue "How does he know it's cheap, easy, and a quick fix ", because he is an oil expert"

I think we all know THAT one. An oil expert who had spent 10 years plus in Mongolia and blew £174millions with little to show for.

To-date, all of the wildcat had been dusters except H1. Not 1 penny of revenue made.

You can truck all your life savings into this oil expert because 50p is around the corner.

DYOR

If fact, there are no guarantee that H1 can be restored. Refer to the 14 November RNS.

"Given the high pressures observed at surface, the flow rate is being monitored carefully to ensure that casing and production tubing pressures remain within safety tolerances and production is currently choked back to a range between 200 and 300 bpd. Whilst this is in line with our pre-production aspiration for an initial stabilised rate, the indications of sustained potential for the well to produce at higher rates are under review, to see if modifications at surface can be made to increase the stabilised flow rate."

If modifications at surface can be made to increase the stabilised flow rate.

DYOR

All of the supporting evidence suggests there will be no quick fix. It's clear in the March RNS they have stated the problem are still being identified, to determine the best modifications going forward.

Front he information gathered, I fully expect H1 to be producing at 200bopd at best. H2 and Gobi non commercially viable.

MB will use 2025 to do works on H1. No quick road to riches as suggested by some. In fact, a cash call is looking likely to fund the modifications on H1.

All in my opinion and DYOR

"So nobody knows what work is planed because the latest news from March (twice) said they’re looking into it. Given it’s now May hopefully we can all agree that’s well into spring."

That's exactly the point I'm trying to raise ADW198. If they don't know what modifications techniques they will use as they are still looking into the matter, then how can he quote it's cheap, easy, and a quick fix.

All in my opinion and DYOR

Once again, people got fooled by MB.

His choice of words "Cheap, Easy, and Quick" fix at the AGM sold many people.

How does he know it's cheap, easy, and a quick fix when they don't even know for certainty of the issue and the solution?

This is supported by the initial RNS quoting "modification at surface level," but then in the later RNS he quoted "to determine what modifications can be performed."

RNS 14 November 2024:

"Given the high pressures observed at surface, the flow rate is being monitored carefully to ensure that casing and production tubing pressures remain within safety tolerances and production is currently choked back to a range between 200 and 300 bpd. Whilst this is in line with our pre-production aspiration for an initial stabilised rate, the indications of sustained potential for the well to produce at higher rates are under review, to see if modifications at surface can be made to increase the stabilised flow rate."

RNS 13 March 2025:

"The Heron 1 well continues to produce steadily at c. 200 barrels of oil per day. Pressure data is being acquired to facilitate production analyses to determine what modifications can be performed to increase the sustainable production capacity of the well."

I'm not trying to be picky with words but it does highlight they are still trying to look for a solution in the March RNS.

If that's the case then how come at the AGM, which also happened in March, he suggested it would be a cheap, easy and quick fix?

I won't be surprised if the story changes again and it turns out quit differently expectation wise. I refer back to the point MB has subconsciously given an initial timescale of 2025 to be a quiet year. Deep down he knows.

All in my opinion and DYOR

Once again, people got fooled by MB.

His choice of words "Cheap, Easy, and Quick" fix at the AGM sold many people.

How does he know it's cheap, easy, and a quick fix when they don't even know for certainty of the issue and the solution?

This is supported by the initial RNS quoting "modification at surface level," but then in the later RNS he quoted "to determine what modifications can be performed."

RNS 14 November 2024:

"Given the high pressures observed at surface, the flow rate is being monitored carefully to ensure that casing and production tubing pressures remain within safety tolerances and production is currently choked back to a range between 200 and 300 bpd. Whilst this is in line with our pre-production aspiration for an initial stabilised rate, the indications of sustained potential for the well to produce at higher rates are under review, to see if modifications at surface can be made to increase the stabilised flow rate."

RNS 13 March 2025:

"The Heron 1 well continues to produce steadily at c. 200 barrels of oil per day. Pressure data is being acquired to facilitate production analyses to determine what modifications can be performed to increase the sustainable production capacity of the well."

I'm not trying to be picky with words but it does highlight they are still trying to look for a solution in the March RNS.

If that's the case then how come four months ago in November he spoke with such certainty of a cheap, easy and quick fix?

I won't be surprised if the story changes again and it turns out quit differently expectation wise. I refer back to the point MB has subconsciously given an initial timescale of 2025 to be a quiet year. Deep down he knows.

All in my opinion and DYOR

2857mal, what a stupid thing to say.

Even the CEO wouldn't know the exact timescale at this moment. It's exactly the reason they are studying the well to find the issues and then to come up with a plan.

One thing for sure it won't be a quick fix and an immediate return to 821bopd or more.

MB did say 2025 will be a quiet year. I assume the team will analyse the data gathered and use the most suitable methods to increase flow rates in a safe and controlled manner. It's all trial and errors. If one method doesn't work then they will try another and they will have to leave time in between for the data interpretation and to see if the updated flow rates can stabilise.

All you do is lashing out at people on the bulletin board. What a pity, you don't even understand what you have invested in. All you see is that fictional scenario of 50p by June.

DYOR

I usually don't entertain fools especially those that like to throw out personal insults when they don't disagree with an opinion, but I will make an exception and respond on this occasion.

Oil wells often for through multiple stages to improve or restore flow rates. These stages are know ln as well stimulation and production enhancement techniques. There are different enhancement techniques which I'm not going into too much details here.

Points to take:

* MB said at the AGM 2025 will be a quiet year. I assume he meant to use the rest of the year to identify and remedy H1 and H2

* Initial RNS stated a cheap and simple sand screen to be the resolution, but the later RNS changed to alternative methods may be required.

* The fact it has taken some months and there has been no update or firm confirmation of the issue suggests the crew are still diagnosing the issue.

All the points above suggests there will be no quick immediate fix. If it was that simple it would have been done already.

In additional to the above, Velocoraptor on 01 May 2025 11:41 commented and agreed that the well will be done in stages and in a controlled way as to not damage the well or equipment, and you all ticked up his posts in acknowledgement when it fitted your agendas.

Anyway, what a waste of my time replying to your post. It's not like any of points said will reach your ears as you have already made up your conclusion already.

But for anyone who likes to read a different opinion other than "this will go to 50p" like most of the posts from this board, you are welcome.

As always, DYOR

Every time facts gets posted the rampers gets startled. All of the statements can be found in video presentations and in past RNS.

Of course the rampers deny and don't want anybody to know the truth because it doesn't fit into their agenda.

Most here are traders and just looking for a quick profit. They couldn't care less about the longer term performance of the company or whether it succeed or not.

The SP went from 38p to now 1.8p, another fact. The rampers will use the narrative, the company is in a different phrase and what past is past.

Looking at the evidence, the regulated news announcements, it's obvious that Matad will need a lot of funds going forward as they have just commited to yet another block.

It has been mentioned many times that Heron1 cannot cover all the costs. In fact, Heron1 remedial will be in stages and that too will costs both time and money. With £2million in the Matad bank there's no way they won't raise.

There is no JV deal. I like to be proven wrong but just can see one coming. It's all smoke and mirrors like what I have been hearing for the past 10 years. MB says it every year, ongoing talks and interests from multiple parties.

DYOR

Thank you Rookie72

Sadly, they are FACTS, and it has costed many genuine shareholders to lose a lot of money over the years.

DYOR

CEO Statements Vs Actions!

Let's look at some past statements from the CEO and his actions.

*When MB said 60-70% COS, all wild cat were dusters

*When MB said ongoing JV interests from multiple parties, no deal in the past 10 years

*When MB said exclusivity and support from the Mongolian Government, extensive bureaucratic processes hold ups

*When MB said fully funded, he then raises funds a few weeks later

* When MB said the company needed funds to help the company stay afloat after the COVID period, he got the funds and went and blew it on Gobi wildcat.

*When MB said Gobi evaluated to be a good prospect, it turned out to have no sign of oil

*When MB said H1 flowed at 821bopd, he then choked back the well for a maintained flow rate of 200bopd

*When MB said Heron has millions barrels of oil potential, he then goes bid for the Borzon Block and thinking of moving onto that block instead

* When MB said H1 is a quick easy fix with a cheap sand screen, he then says in the next RNS alternative methods may be required

Would you wanna trust such man on your investment decisions?

All in my opinion and DYOR