Member Info for StockMaiden

If genuine LTHs are still around then I like to hear the thoughts from either Ojay, Bonum, Hawkspear, or Manro just to name a few.

Adw198, I am invested here.

I first invested on the excitement on wild horse.

The SP rose from 10p to 38p or there abouts. Then came the Bergen deal which killed the momentum.

It's been too long but my first buy was around 21p. I have averaged down to 10p. At the time it was considered a good average when we had wild horse, snow leopard, and gazelle. The shares in issue were a lot lower too.

Shareholders wait and waited, MB messed about to get paperwork together and didn't make it on time due to winter shut down.

Fast forward, snow leopard, wild horse, gazelle were all dusters and the SP tanked. More raises and the promotion of the Heron field.

At the time, it sounded good with all the talks around it being next to Petro China, proven oil a mile away from the Petro China field, JV potential, and millions of barrels of oil potential. MB promoted and plans to fully develop the Heron field full fledged.

Shareholders waited and waited, for Buck to get the paperwork together, missed the seasonal period and we went through another winter shut down period.

There were a point a rig on loan were sitting there idling costing something like £70K a day because Buck and team didn't check if all the paperwork was in place.

Shareholders waited more and some 8-12 month then Heron finally drilled. Excitement came back and most would average down due to seeing work has resumed. I average down again to 8p.

How wrong was I though. Not long thereafter Buck then dropped the bomb to say they needed a Land permit. That alone took 5 years to get. Share price tanked again. I took the opportunity to average down further.

Raises in between but fast forward again. LP obtained and shareholders celebrated, sort of.

Only to be told issues at H1/H2 and an export license is required.

You are seeing the pattern?

Now, before even rectifying the Heron field he is already moving onto Borzon. A whopping £14.7million commitment.

The red flags are all there in plain sight.

It's not that hard to understand.

MATAD has took up more than they can handle.

They need to find £14.7 million + other operating costs which they DON'T have.

They are over committing financially and in the number of projects for sure, the clause to withdraw is only to protect themselves when they couldn't deliver, as seen in the abandonment in past prospects. My points are consistent.

Furthermore, why are you only referring to the first two years when in the RNS it says 8 years for the full program.

You don't enter a program with the mindset of exiting.

Thought the plan was to find oil, but there's already talks of withdrawing the deal?

Doesn't inspire confidence nor having a clear direction

"In fact the RNS states that they can have obtained favourable low risk terms through being able to relinquish after each phase of the new block, of which the first phase is just 2 years"

Contradicting don't you think?

One moment it's a great opportunity the next thing you say they can pull out of the deal.

Why would they want to pull out of the deal if it was a great opportunity to begin with.

I'm fact, why even bid for the block.

Fact is they don't know. It a gamble

They only come out when they need a raise.

After a raise they are usually quiet, leaving shareholders to suffer

Typical ain't it.

...

And the sp is breaking record for a new low each time people think it's the bottom.

Abzzba, since you are so persistent, I will answer you on this occasion.

The RNS says I'm black and white that the commitments over the course of 8 years will total £14.7 million just for the Borzon Block.

Now, coupled with the company's running costs, (such as wages, utilities, and other operational licences) and the fees required to remedy H1, H2, and possibly Gobi, you don't think another £5million budget is a realistic sum?

Or did you think that the company is running free?

I know what you are going to say. You will refer to if H1 comes in with revenue. Even that is questionable at this stage. Furthermore, if I assume the 200bopd is sold and money received, it won't be near enough to cover the total expenses of the company.

It's a basic input vs output. Come on man, you should know.

Vagabond, I agree, it's the greed but more to that, everyone just want a better life is the major factor they come to the stock market

MB might as well fund raise £14.7 million and stick it into Fridays Euro million sitting at £83 million JP, I think there are more chances of making a profit than the Borzon Block.

Thanks to Bigbench, I just bought myself a ticket.

If I win, I'd be closing my stocks and shares ISA for good.

Sell the whole lot at losses and never look back

I think there are only 3 types of people here:

1. Normal working people trying to make some cash

2. Retired people with the money to play this game

3. Brokers just doing their thing

Proper rich people won't need the stocks market.

There are plenty of other ways for them to do business and profit

Hahaha if someone had 83 million that more than enough for two life times. Why get greedy and risk it in this pile of 💩 seriously

New CEO from Naheed to bigbench?

Faaaaaaaack no Vagabond

The company coming out to ask for £20 million ( Borzon+ company expenses) for a gamble, after they have already failed to commercialize 4-5 past wells.

A bit of a pee take don't you think?

"Renewables. A growth area being pushed by the Mongolians and the Chinese, largest potential Renewable generation capacity in the World being largely funded by well funded Third Parties with big wallets and good intentions."

Sounds like you are referring to Oracle Power Thorn. They have international projects in renewable energy, and yes, they have partnership with the Chinese too.

Perhaps you should invest in Oracle Power, you know how that went SP wise didn't you?

Exactly, what CEO would go and sign a £14.7 million deal when the company hasn't made a penny of revenue.

It's not just £14.7 million though, there are other expenses to run the company, the expenses to remedy the H1 well, and also the renewable energy project.

All that could rack up closer to £20+ million.

All at the same time they are not making any revenue. Even if you put the 200bopd into account it's not enough bubs huge gap.

Where is the CFE, and how did the bid for the new block get approved.

Honestly, the is an operational and financial mismanagement. The problems usually starts here and then companies go under when the problem gets out of control.