RE: OFFICIAL Position - JV Funding Route / NO PLACING / PC Sales Agreement Accepted!19 Mar 2025 11:33
Really unsure how anyone would want to trust their hard earns on someone untrustworthy as MB?
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.
Nobody asked for gobi. In fact, there has been very little information about the well until that point. The move to raise and drill at haste without even a voting is criminal in my opinion.
The focus had and always been Heron. Why didn't MB used the funds then to expand on the field. He gambled away millions like he had done over the years.
He now talks about conserving cash, funny.... because they don't have much at the Matad bank. They have £3million last reported to get through the rest of this year.
I expect it will be the same as last year going forward. When he implies no raise, there'll be a raise. When he gets the bank balance up, he will blow it on more rainbow chasing, eg: Borzon
Nothing major will happen in year 2025. there won't be a game changer. It's the same old dangling a carrot tactic.
Think about it, it has taken months for MB to upload a form. Would you really want to trust this lot with millions? Not to mention past failed wild cat drills and 5 years to get a land permit.
The people expecting quick positive major news this year is deluded imho.
All in my opinion and DYOR
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