RE: MATD - 2025 'Transformational' Year & Major Re-Rate.10 Apr 2025 22:20
Lots of Uncertainties:
- The export signature still not received after 6 months
- 200bopd remains. No official update confirming increase to the production
- Cash under £3million in the bank
- Brent dropped. Recovered a little but still lower compared to before
- 90 days pause in tariff rise. What will happen after 90 days?
- With political changing everything moment. I doubt it will be 90 days before something negative would impact the market again
- Brent goes down, Matad SP goes down with the market. Brent goes up, Matad SP barely goes up
- MATD has set-up a subsidiary recently with no explanation. This is a red flag in my opinion. Just look at FRR and their permit transferred away leaving shareholders with their no value shares.
- 10 plus years operating in Mongolia. £174millions raised. Not a single penny of revenue
- MB said a placing will be a last resort. A placing will be most likely based on history tracks
- JV talks in 10 years and no deal ever reached.
- MB at AGM said in talks with 3 entities. Basically that is saying the talk with Petro China is weak. Hence he is in discussion with multiple parties. That's my view of it anyway.
- Matad still relying on Petro China storage. There has been no confirmation of there being any legal contracts in place. Another red flag as MB said "if they get paid" as if he is relying on verbal trust
- No strategic focus. Many projects, lack of funds, snail pace, no operational plans except to remedy Heron but even that seems to be too much of an ask for Matd
DYOR
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