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The Mongolia government would back Petrol China over Matad any day for obvious reasons.

What else is needed after the export signature?

MB always drip feed the market

DYOR

"The future will decide the outcome"

Yeah, apply that to Oracle. They are drill another 36 holes with gold continue to show.

"The negs have never done any type of business above earning PAYE. you can tell. They’ve watched dragons dens too much. And think everything is about demanding and playing hard ball. Things also take time. These PAYE donkeys"

5 years for the land permit is acceptable for you?

Okay, then let's give it another 5 years for the export signature!!!!

BIG RED FLAG!!!!!!!

"He stated that Petro Matad had been contacting the block XIX operator DAILY"

Why would you feel the need to contact the block XIX operator daily?

If you have good business relations things should be automatically happening on the basis of the mutual respect.

This suggests something is sinister and MB isn't being transparent with the truth.

All in my opinion and DYOR

Adw198,

Those are excellent highlights of the choice of words our Mr CEO likes to use.

Notice there is a pattern. He always quotes along the lines of a process being in the "final stages" but in reality it would take months down the line.

A very obvious and deliberate way to make the situation sound much better than it actually is.

MB is not being honest imho.

DYOR

"I think WOS my be referring to the fanciful notion that thousand of gullibles emboldened by the rampers' predictions will each be investing £20,000 in MATD via their new ISAs."

That's laughable. There's a load of blue chip company, what fool would top up here until Matad resolve their issues.

Let alone a placing is just around the corner

DYOR

2857mal,

You should direct your advice to Wiseowlspeak, Thornogson, and TenBagTag.

They are the ones posting 24/7 and provoking genuine holders

DYOR

Horsers,

I have always expressed my consistency thought about Matad not being transparent enough with their issues.

Your point is actually very valid. Who on earth would rely on another company to store their oil.

Has Matad even sorted out the paperwork outlining the legalities? Judging by their incompetence they are probably relying on word of mouth by trust.

If Petro China refuses to return the oil or refuses payment then will Matad pursue a lawsuit?

One can already see things aren't looking well with glimpses of hints.

All in my opinion and DYOR

In response to Wigster77, Gold has reached $3135. Since he keep mentioning ORCP instead of keeping HIS responses in context with MATD, let's have a look at both companies:

In terms of Prospects:

ORCP have recently discovered a SHALLOW gold mine in Australia, with gold expanding outwards in all directions. Further drills are being conducted because of more gold shows. The best bit is ORCP is on pretty much a free carry having partnership with Riversgold on a 80/20 ownership.

Matad? Still trying to sort out their 200bopd well.

Export signature still not signed? Limited funds in the Matad bank?

In terms of Funding:

ORCP has multiple international projects backed by major players, eh: the Dubai prince and also Power China for their energy projects. This means that all of ORCPs projects are partially de-risked.

Matad? JV talks for 10 years but still no agreement? No one seems to be interested?

In terms of the CEOs:

The ORCP CEO Naheed at least have the decency to say there will be a placing to move the projects forward. She is saying things as they are.

Matad's CEO? I remember last year Mr Buck said they were full funded but 3 weeks later did a placing. The worst part was the raise wasn't necessary. Buck used the funds to have a go at drilling Gobi, the result of Gobi were no oil show.

So MB has diluted shareholders and wasted funds on another unsuccessful drill?

Looks likely nothing major is happening with Matad for the rest of this year. Meanwhile, drilling has commenced for Oracle Power and they have recently raised funds.

DYOR

Most likely a Placing coming for MATD

Your not dumb enough to suggest you know

That's insider trading

DYOR

Nothing major is happening in 2025

This will be a slow burner will multiple raises down the line

Wiseowlspeak is trapped here on a massive loss

DYOR

RE: Major Cash into MATD Monday (Onwards)!

Another misleading title.

These rampers are shameless.

A placing is likely.

DYOR

The number of rampers here are insane. They must be getting very worried now. Another day without news, and no export signature.

It's been said time and time again, and let's keep it real

Nothing has ever been achieved and to-date not a penny of revenue.

The market has lost confidence in Matad and rightly so.

It's time for Buck to deliver, no more talks, actions!

No good saying they WILL do instead of reporting to the market they HAVE done.

What's holding them back?

10 years not enough time for them to sort themselves out?

£174 million isn't enough to get one producing well onto production?

This company operates on new hopes and raises, but nothing ever materializes like the JV talks that has been ongoing for 10 years

Cash is low in the Matad bank, they will require funding and a placing is most likely.

The long term holders have all lost money here. Gone are the days people invest based on words and trust, we want results.

If MB is that incompetent, then perhaps he should find a job at the local corner shop selling chewing gums instead.

DYOR

PLACING POSSIBLE

The CEOs response in regards to placings at the recent AGM:

"We're always on the lookout for non-dilutive means. The increase in this provision reflects the fact that in previous raises, we have done where we have always tried to make the offer open to existing retail shareholders. We found more support than the amount of shares we've been able to offer. This increase attempts to address that for the future, but only if required."

MB is saying what he has been all these years. I have heard it so many times. Basically, MB is saying a placing is the last resort and they will try to avoid one if possible.

However, if you look at the company's history, 90% of the time result in a placing.

The rampers are talking FUD when they say no placing.

DYOR

PLACING POSSIBLE

The CEOs response in regards to placings at the recent AGM:

"We're always on the lookout for non-dilutive means. The increase in this provision reflects the fact that in previous raises, we have done where we have always tried to make the offer open to existing retail shareholders. We found more support than the amount of shares we've been able to offer. This increase attempts to address that for the future, but only if required."

MB is saying what he has been all these years. I have heard it so many times. Basically, MB is saying a placing is the last resort and they will try to avoid one if possible.

However, if you look at the company's history, 90% of the time result in a placing.

The rampers are talking FUD when they say no placing.

DYOR

FACT check:

10 years plus of failures (No earnings to-date)

An accumulation of £174million raised.

5 years to obtain the land permit

It's been 6 months and still no confirmation of the export signature

H1 producing 200bopd and yet to be remedied

No time scale given for the fix or when to expect money into the Matad bank

These are facts! Whether people like it or not.

DYOR

If people are upset, then they should direct their anger at no other than MB, and not at fellow investors.

He has let down all his shareholders, and for years failed to deliver. Most of it to be fair was poor decisions made.

An example of this would be rather than focusing on an oil discovery such as Heron, he goes and waste funds he doesn't have on wild cat drilling.

What a disgrace when the year before that Matad were literally surviving to keep the company afloat. It was also at the shareholders expense, via a placing, to help the company going.

But it seems our Mr CEO doesn't know gratitude, whenever he gets his hands on a bit of funds, he gambles it rather than putting it to use strategically. An recent example of this is the bidding of new Borzon Block for up to £14.9 million commitments over 8 years.

Has Buck not learnt his lessons yet? He hasn't even remedied the Heron field yet, and he is already thinking of spending more. What happened to the plan of becoming a cash positive company?

What a shame...

The cash in the Matad bank is at approx £3million.

That means Heron MUST deliver. Not an ideal position to be in if I'm honest.

I, for one, can already foresee there will be more spending towards Borzon and possibly the renewable energy project in the foreseeable future. It means that even if Heron does deliver, Matad will still be cashless (minimum cash in the Matad bank) because any source of revenue will be put back into wildcats and renewable projects beyond Matad's capabilities.

The rampers are talking about a JV, an ideal situation where a major would fund and deploy experts to help Matad. What are they smoking to think someone would step in to help these incompetent fools.

In the recent AGM, MB himself said they are engaging with multiple parties in hope for a deal.

Until that happens it hasn't happened. MB also said placing will be a last resort, and as seen in the past 90% of the time they have raised funds via placings.

We all know nothing major will happen in 2025. MB is allowing himself time with the priority of remedying H1 and H2.

How quickly they do it is anybody's guess. They are in a race against time to sort out the wells and the export signature before funds run out in the Matad bank.

Having been here for 10 years, I can say it's likely there will be no JV deal. He says it every year but nothing ever happens.

The best bet for Matad holders is for H1 to be fixed but then it also raises the question over the level of transparency of the issues. Why is there no time scale of it was such a simple fix, and also the export signature has taken 6 months and still no confirmation.

IMHO and DYOR

I see Wiseowlspeak and Thornogson has just posted on the ORCP board. I would worry about Matad if I was you.

Most likely nothing much will happen for the rest of this year for Matad.

Perhaps there are some underlying issues with the export signature.

I refer back to the LP which ended up 5 years to obtain.

Think about it, if you're a CEO managing millions, you would have consulted with your technical team and then provide an approx time scale for things to happen.

Why can't MB give a time scale for H1 to be fixed, or when are they expecting to have the export signature signed?

The fact is is allowing the rest of the 2025 for them to happen means this will be a slow burner.

Meanwhile, with each passing day the cash in the Matad bank will dwindle away.

Imho and DYOR

MB could release placing news next week for fresh ISA money.

Look at it this way, Thornogson and the rampers can buy cheap shares if that were to happen.