Member Info for StockMaiden

TenBagTag, I fully expect you to know since you talk with such certainty in your narratives.

At some point?

When will at some point be, can you be more specific?

Will it be before or after the 8 years of the Borzon commitments of £14.9million?

With so much money to spend in Mongolia, I wonder when will MB pay that special dividend?

Again, it's you guys who have made the statement of a special dividend being paid, not me.

Perhaps you can advise when will it get paid and how much per ordinary share?

Are you calling yourselves liars since I'm only quoting statement which you guys have made?

You guys are really contradicting yourselves.

Once minute you are suggesting 1000bopd from a quick easy fix.

Next minute you are saying a slow gradual improvement in stages for the flow rates.

Then you talk about no body knows for sure until further assessments are made.

All while you are selling a price target of 50p in 2025.

"That must surely depend on the assessment made"

In other words, nobody knows what is happening, not even the CEO, until further assessments made.

That goes back to my point the initial diagnosis of the issue could be accurate, or it could be way off judging by Matad's poor records.

The supposedly "cheap fix" is not guaranteed.

The return to 821bopd, or even 1000bopd some were suggesting here is not guaranteed.

We just don't know until further assessments are made. Your words not mine.

"No one can say of this is an immediate fix or a gradual ramping up. That must surely depend on the assessment made'

Well that's odd, where are people getting the price target of 6p by June and 50p in 2025 from if we have to first wait for assessment?

So when I tried to make a bet with the rampers, if the were so confident, for H1 to get back to or exceed 821bopd, they refused by because the remedy will be in stages.

Then when I suggested a gradual increase in production starting at 300bopd, the rampers also denies and suggested the increase would be between 600-800bopd.

So is it a gradual increase in stages over time, or an immediate fix? Make your mind up or are you guys just making things up as you go along?

Manxkippers,

"Err....no Stockmaiden.

No one in their right minds suggests production at 300 to 200 bpd! We are expecting significantly more than that from H1. I would hope for 600 to 800 bpd - but we will see!"

But you all ticked up Velocoraptor's post in acknowledgement:

"The next flow rate won't be 800 plus barrels a day. As you know full well. The company will SLOWLY increase the well flow with the rectification that they have announced and this should increase the flow rate of the well."

Conclusion: the flow rate WONT return to the heights of 821bopd immediately, or ever. More funds and time will be required to remedy the wells in stages. To SLOWLY increase the well flow.

Stop changing tone every hour.

Exactly!

"the contract for the full eight-year exploration period is $14.9 million."

For Borzon to come in they are required to commit that amount. Unless they decide to abandon it in the first 2 years.

What would be the point of wasting a million only to abandon it after.

If that, Matad should have just stayed with Heron and drilled more wells.

I've always said that Matad and Buck have lost focus.

They do this and they do that, without looking at how much funds is at their disposal.

Just like with Gobi, he wasted a few millions in return for naught

So now you agree the flow rate will be closer to 200-300bopd?

300bopd is equivalent to approx £240K a month after export costs.

Borzon £15million commitment:

£15million / £240K = 62.5 months

62.5 / 12 = 5.2 yeras

So for Borzon alone (excluding the company's monthly expenditures and other operational programmes), Matad needs 5.2 years of H1 revenue to cover for the Borzon finance commitments over the next 8 years.

They might be able to if Matad stick to a tight budget. Unless Buck goes off and chase another rainbow like Gobi wasting a few millions here and there.

"That tells me there wasn’t a fixed plan"

That could also translate to they don't quite fully understand the problem so you could view that as a negative too.

A potential scenario is that they have investigated and analysed the data only to determine the problem has is much complex than initially underestimated.

It could go both ways.

That's my point as well Adw198

The company always seems to be hiding the problems, or they are just simply incompetent to misdiagnose the issue.

Either ways, it's no good for investors basing their investment decisions on inaccurate information provided by the company as seen now and in the past.

Matad could turn around and tell a very different story.

All in my opinion and DYOR

Except you missed the part where it says:

"If the well continues to perform in this way"

So if the well doesn't continue to perform/maintain 200bopd then they might be looking at alternative solutions?

Matad is unprofessional, or they are intentionally not providing the figures.

It's not that hard to give an estimate of the cost needed to fix H1.

Instead, they throw out the word "cheap."

A Lamborghini might be viewed as cheap for Adw198 but super expensive for poor Abzzba.

That's why I don't trust MB.

And what is the definition of cheap exactly when Matad has £2million in the bank?

One person may think it's cheap while the other person will think it's expensive.

Why don't Matad just release the exact remedy costs?

"That’s where the risk currently lies"

The risk had always been the e-signature and the H1 flow rates.

The e-signature has now been obtained but there are still uncertainties around the H1 flow rates.

Nobody knows the finer details such as:

- How cheap is the fix

- How long will the fix be

- How much can H1 actually produce over time

- What is H1's life span

- Will oil for H1 be enough to cover for the future operational costs

What we do know is that H1 is producing closer to 200bopd. H2 suspended and Gobi no oil show.

Now, 200bopd would be good if without Borzon. I have always said this. With Borzon's financial commitments, it will eat into all potential future earnings from H1 (and that's if H1 gets fixed)

Matad could have a revenue stream but the operational costs would far exceed the income.

It's seems taking on Borzon is a bad decision and the only thing it has done this far is offset the potentially good news.

All in my opinion and DYOR

"The next flow rate won't be 800 plus barrels a day. As you know full well. The company will SLOWLY increase the well flow with the rectification that they have announced and this should increase the flow rate of the well. It will be done in stages and in a controlled way as to not damage the well or equipment."

Truths are coming out now.

The next flow rate won't be back to previous height of 821bopd a day!

Matad will slowly TRY to increase the flow rate in stages. They will need time and funds to do this.

There is no guarantee flow rate would get back to 821 barrels a day.

But this translate to more money being put into the well, and it will be a slow burner as with each stages they will need to test the well.

No quick way to riches. The rampers narrative of 50p in 2025 can go into the bin imho.

DYOR

"It’s a virtuous cycle."

You mean the raise and dilutions required to fund the ongoing operational costs?

You know they will need funds if they were to improve flow rates and to drill additional wells even?

Borzon alone can take up to £14.9million of financial commitment.

Lot of money to be spent in Mongolia but where will MB find them....

DYOR

"The next flow rate won't be 800 plus barrels a day"

Exactly, the next flow rate be better closer to 200bopd. To get a flow rate of 1000bopd they probably need another 10mil for the work.