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Nothing is free in this world.

Think of the weak position Matad is in.

Rampers must be deluded to suggest a sweet deal from Petro China.

They think Petro China would offer funds and support for developing an oil field that's not theirs?

Even if Matad manages to struck a JV deal, at what cost will it be?

What are the rampers smoking...

The herd will arrive soon enough?

thought they'd all arrived by now...since it's such a bargain... according to you lot....

why does it have to wait...

why soon enough and not right now....

if this was such a bargain you think the market will miss it?

More accurately, it should be read:

Invest in MATD, make Mike Buck's life better

Well that's odd...

Why are you offended with people bringing up concerns and questions that we should be asking, but you have no problem with baseless ramps?

The old say of "only wanting to hear what you want?"

Any concerns and uncertainties are dismissed?

I'm surprised no one else is concerned with this.

Yup, and that comes with risks for shareholders too.

It's how Frontera Resources shareholders got left with an empty shell company with no block licence and worthless shares.

Very dodgy and it's all down to the company's mercy.

I read that there are Petromatad Invest Limited and Petro Matad Services Limited.

https://

www.investegate.co.uk/company/MATD

Had Petro Matad always been set-up that way?

Am a little concerned when parent/subsidiaries are involved, having witnessed Frontera Resources having the block licence transferred away leaving shareholders with nothing.

Are there any risks like that here?

On the topic of sales and cash balance, imagine if Matad were sitting on $174M right now. What a difference that would make going into Borzon with the funds.

However, reality isn't so ideal. The management's poor decisions over the years have costed $174M in total on failed exploration campaigns.

Leaving shareholders with only Heron1 that in reality, has any real chance to deliver something, but even that is questionable at 200bopd (could be more, could be less)

MATAD sure knows how to blow their funds.

Heron1:

Investors were told the H1 sand screen would be a simple fix. If it was that simple, why not fix it?

Or is it because it's not as simple as they thought it would be? Can they advise a definite start date for the fix? Has the 200bopd been maintained?

Export License:

How's the export signature progressing? Any foreseeable revenue into the Matad bank?

Petro China JV:

Any conclusions for the ongoing discussion with Petro China? What is the hold up?

Borzon Block:

Why did you think the signing of Borzon was a good idea? Is it a wild cat exploration and what are the estimated COS? The plan had always been to develop the Heron field. Why has the focus shifted to Borzon? How will Matad distribute their workforce , priorities, and future funds across their assets, namely Heron, Sunsteppe, Borzon because for a small company like Matad, it is beyond their financial capability and skill to be over committing?

Funding:

Where will Matad find the funds to develop these projects? With Borzon forecasted to be £1million over 2 years/£14.9million over 8 years. There are other operational costs such as H1/H2, licencing fees and company expenditures, where will MATAD find these funds?

Sunsteppe:

Talks and company updates from MATAD has been minimal on the renewable energy project. What is the reality of bringing the project onto the commercial stage. What are MATAD's total costs and what sort of revenue are we looking at in a success case? Any bureaucratic documents or permit required to get the project moving?

Heron2 & Gobi:

What are the status on H2 and Gobi?

These are the questions shareholders SHOULD BE asking in my honest opinion. Keeping it real and it your chance to try get some answers out of the old geezer.

Investors were told the H1 sand screen would be a simple fix.

If it was that simple, why not fix it?

Or is it because it's not as simple as they thought it would be?

Can they advise a definite start date?

Has the 200bopd been maintained?

How's the export signature progressing?

Any foreseeable revenue into the Matad bank?

Any conclusions for the ongoing discussion with Petro China?

Why did you think the signing of Borzon was a good idea? Is it a wild cat exploration and what are the estimated COS?

The plan had always been to develop the Heron field. Why has the focus shift to Borzon?

How will Matad distribute their workforce , priorities, and future funds across their assets, namely Heron, Sunsteppe, Borzon because for a small company like Matad, it is beyond their financial capability and skill to be committing?

Where will Matad find the funds to develop these projects?

The list of questions goes on....

Thank you Mike Buck for being considerate.

We should do our best and not forget to provide proof of shareholding and other necessary authorization at the AGM.

Time is running short and a placing could be called imho

Well well well...it's the last day of February and there is no sale or cash into the MATD bank.

The bullish rampers are wrong again but to no surprise there.

For the genuine holders, don't forget to provide proof of shareholding and other necessary authorization as stipulated in the Company's Articles for the AGM.

Abzzba says " best to stick to the facts," but these are the FACTS:

- 10 years plus in Mongolia

- £174 million spent

- no revenue into the Matad bank to-date

- failed campaigns, including the wild cats drilling of wild horse, gazelle, snow leopard, Gobi to name a few

- 5 years to get a land permit

- export signature still not signed

- Heron 1 producing only 200bopd (from last update)

- Heron 1&2 both having issues and being remedied

- MATAD relying on Petro China for their oil storage facility

- 10 years of JV talks but still no deal

- CEO signed a new block, Borzon for new commitments of £1 million over 2 years/ or £14.9 million over 8 years

- MATAD have limited funds in the bank

These are the FACTS!

Its a statement.

These are not mine, or anybody's opinion.

Just hard facts which you can find in the RNS's

Unwise owl talking about farm down.

Thought we had discussed this already.

I don't think MATAD would find a buyer, or any form of partnerships.

This is due to Heron is underperforming and there are still many unresolved issues, namely H1/H2 wells, and also export signature not signed. It means any oil pumped cannot be sold.

Now, some of you are being optimistic to suggest Petro China would have an interest. Even if that was the case, the offer won't be good.

Reality is Petro Matad still needs to rely on Petro China for their storage facilities. Petro Matad is just a small pebble, they don't have the bargaining power.

Petro China is a major. They are not in a desperate position like Petro Matad. Petro China have many options on the table, and that includes not having the Heron field. Petro China does not need Heron to survive.

On the contrary, Petro Matad is on their knees. Fund shortages and a very weak Heron asset. Matad don't have the funds to go alone or if they decide to sell the field outright, it will go for peanuts in my honest opinion.

Even if Matad manages to sell Heron for a more realistic price of £15-20million, what are they going to do with the funds?

We have seen it takes lots more to explore and to bring a well online. £15-20 million will dwindle away in no time based on Matad's historic records.

DYOR

You are telling me that someone that represents a group for EU regulators cannot afford a house.

How's passing the anonymous social media law going for you Proquo?

Did you raise my points to your seniors, if you actually remember them?

Yes, like gusto have said, I believe something has gone wrong.

It has been months since H1/H2 started flowing.

Why still no update on the progress for the fix?

It is the same with the export signature, why is it taking so long?

Nevermind the JV talks, if Matad cannot finalise a deal in 10 years, then they should just give up imo.

I noticed my Oracle thread had been removed as well.

I thought you all wanted to talk about it since you lot kept mentioning Oracle Power here.

Why remove the thread?

How about sticking to facts about the company rather than personal attacks. Or are you lot feeling that insecure about your investment that it's becoming personal now, for anyone that rightly criticise the company.

FACTS:

10 years plus spent in Mongolia. £174 million spent. To this date not a penny of revenue into the MATAD bank. Countless wild cat dusters, left with Heron producing a diddly 200 bopd, and both H1/H2 experience issues. Export signature still not signed meaning any oil pumped out cannot be sold. Relying on Petro China for their storage facilities. Uncertainties remain on whether they can fix H1/H2 and if the flow rate of 200bopd can be maintained. An untrustable CEO and limited funds in the Matad bank.

Backed by no one as witnessed over the years. Ongoing JV talks for 10 years but no deal finalised.

Little support from the Mongolian Government, it has taken MATD years to get the land permit.

Mike Buck has over commited and lost on the gamble. MATAD needs to find a way out, they have neither enough funds for them to continue their operations, nor do they have a strong asset for them to bargain with potential lenders, JV partnerships.

Its looking likely that future funding raise will yet again be at the shareholders expense. One trick pony. Placings and more placings.

Let's check some FACTS:

MATAD: 10 years plus spent in Mongolia. £174 million spent. To this date not a penny of revenue into the MATAD bank. Countless wild cat dusters, left with Heron producing a diddly 200 bopd, and both H1/H2 experience issues. Export signature still not signed meaning any oil pumped out cannot be sold. Relying on Petro China for their storage facilities. Uncertainties remain on whether they can fix H1/H2 and if the flow rate of 200bopd can be maintained. An untrustable CEO and limited funds in the Matad bank.

Backed by no one as witnessed over the years. Ongoing JV talks for 10 years but no deal finalised.

Little support from the Mongolian Government, it has taken MATD years to get the land permit.

Mike Buck has over commited and lost on the gamble. MATAD needs to find a way out, they have neither enough funds for them to continue their operations, nor do they have a strong asset for them to bargain with potential lenders, JV partnerships.

Its looking likely that future funding raise will yet again be at the shareholders expense. One trick pony. Placings and more placings.