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The CEOs answer is regards to placings;

"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.

If you had been a genuine long-term holder like me, then you will know the only two times there wasn't a placing, were:

1) the Bergen deal

2) the Petrovis loan

I don't think Matad will get a Petrovis loan again because there are limitations and draw down requirements.

I also think there wouldn't be another Bergen type loan. It's is disastrous for shareholders. If you don't know what is the Bergen deal then please do some research. I'm not here teaching people how to suck eggs.

I think if Heron delivers outstanding results then perhaps it could open new doors for funding. Do note they still have hurdles to get through. Eg: export signature for them to legally sell oil.

But as things currently stand, a placing is looking likely further down the line.

Again, if anyone wants to bet on Heron1 before any concrete results, then go for it, but know the risks.

For me, MB is not trustworthy due to his past performances and dishonesty.

DYOR

In the midst of hype and excitement, I'd thought I would take the opportunity to remind people of some facts.

The facts are:

- Matad have spent 10 years + in Mongolia

- Funding totalling £174million or thereabouts

- To this date the revenue is £0

- A history of failed wild cat drills

- Heron1 initially reported 821bopd but now been choked back to 200bopd. Issues yet to be remedied

- Export signature still not signed. This means Matad cannot sell their oil

- Matad still heavily relying on Petro China's storage facility

- JV talks has been ongoing for 10 years but no deal struck

- Last year the CEO said fully funded but raised via a placing 3 weeks later. The funds were used on Gobi, and as witnessed Gobi initial result had no oil show

These are facts for a bit of balance. Anyone new here should know before deciding if they want to invest.

Heron1 could be remedied, but the issue could persist combined with the export signature hurdle.

It seems the future of Matad will heavily depend on the delivery of Heron1, before any JV potentials, in my honest opinion.

Looking at the company cash position, they have approx £3million in the bank. I can't say for exact but remember someone posting the monthly cash burn was near £300K? I sure someone will correct me if I'm wrong.

Overall, if new investors want to bet on Heron1 to deliver, then go for it, but do understand the risks.

Finally, talks of JVs and soft loans are speculation. However, thinking from a logical standpoint, Matad will need the funds whatever they decide to do. Refer to the recent bidding of the Borzon Block, the current plan to remedy Heron, and the Renewable Energy project. Nothing is free unless you believe a partner will pay for everything.

Perhaps a placing is on the cards?

DYOR

BOOM or is it DOOM, when placing hits and Heron doesn't live up to expectations, we should find out soon enough.

DYOR

Are you guys here to argue or to make money?

If you can't accept the facts then you shouldn't be investing.

Has Matad made a penny of revenue having spent 10 years in Mongolia? No

How much funds have been raised over the years? £174million

How long did it take for a form to be uploading? 3months

Despite that, has the export signature been granted? No

Gone are the days people buy in on words and hype, we need results.

DYOR

Mr Owl started it with his first post at 7.11am

My first post today is at 7.56 in response to Mr Owl

Oracle Power is drilling an addition 11 holes after high grade gold finds expanding in all directions.

It's looking much more promising than Matad.

TenBagTag has admitted he is genuinely interested.

People are waking up to the news over there.

Yes, they're positive results via RNS, not just talks about doing this and that like Mr Buck

DYOR

I see Unwise owl have started off the morning trolling the Oracle Power BB

ORCP is looking like a much better bet than Matad right now.

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?

Do remember, it's you guys who kept bringing up Oracle Power on the Matad board, so don't say I haven't responded back.

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

The number of rampers here are insane.

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

TenBagTag, you sound like you are interested?

"Just wait till it gets ro just 5p'

More like 0.5p

I didn't know the concept of free world existed for you guys, since you all like to harass and silent those with an alternative opinion, and especially when facts are being posted.

Richar,

It's no secret many of the long term holders have lost trust in MB and are sitting on massive paper losses.

People might say average down. Well, you think people have done that for the past 10 years holding this stock.

People have average down and everything the SP descends into a new low on poor results. Refer to the charts, from 38p to now 1.6p

What I'm saying is MB needs to prove it as genuine holders has had enough of his words. We need the delivery of something concrete. To this date, there has been none.

How about releasing an RNS to say export signature granted, oil sold and money received in the Matad bank?

I strongly don't recommend a buy/ average down until something substantial happens

DYOR

The thing with Gobi is, MB could be way off of his guesstimate.

Just like he did with wild horse, gazelle, antelope, snow leopard when at the time shareholders were told these are projects with very encouraging data from the seismic and ground survey. One or two of the wells even had a 60% COS as I remember?

Well guess what? They all turned out to be dusters.

DYOR

Https://www.slb.com/products-and-services/innovating-in-oil-and-gas/completions/well-completions/sand-control

You can throw about technicals all you want, but MB is not to be trusted. Perhaps H1 is more than just the sand issue, or perhaps they have misjudged the issue like they have with all the other mess-ups from the past.

Fact remains it's been 10 years plus, and these guys hadn't made a penny of revenue. They are still relying on Petro China for their storage facilities, how embarrassing.

Again, I refer you back to the millions of funds wasted on Gobi last year. Imagine what they could have achieved with those funds.

Now they are talking about conserving cash when they have pretty much ran out after going on a spending spree.

MB himself said at the AGM it will be a quiet 2025.

DYOR

The only certainty that Matad can guarantee are placings in my honest opinion

ThornogsonI have said many times I am a holder there, and get off this board you moron.

You know the stock has messed up when they only have Heron as the talking point.

Like I have said many times, Matad are depending everything on Heron.

But what if Heron doesn't improve from the 200bopd, or worse the flow rate drop off

One trick pony and risky as hell.

All those backup plans someone spoke of earlier, like what exactly?

Renewable energy? Not heard of any progress on that front in months

Gobi? Initial result report on no oil show, so I don't think anyone is expecting a turnaround there

DYOR

They have approx £3million in the bank last reported.

DYOR

The number of rampers here are insane.

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.

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

DYOR

TBT is asking for it

Nothing stopping you guys returning the favour over at Matad

Imho