Member Info for StockMaiden

Rip off isn't the right word here.

It's a s***

What you are telling me is this is a gamble.

No one previously has found any oil in the area.

£14.7 million to have a another go at wildcat exploration.

Have MB not learnt from this already?

The other operator actually had decency to pull out early rather than stringing shareholders along and using the block as a cash cow for raising funds?

Perhaps their geogist were more professional, once glance at the block and certified a barren land?

Yeah but why did the previous operators pull out of the block?

Perhaps the lightly explored data showed no signs of oil?

Taken from the recent RNS:

"Block VII has previously been lightly explored by other operators and has some 2D seismic coverage and limited well data. Geological outcrop information is plentiful."

If the block was that good, why was it abandoned by other operators then? Anyone have this a thought?

Naive shareholders are partly to blame for these cowboy CEOs.

The company has no detailed business plan, no thoughts of funding to cover for commitments, no revenue, lack of engagement in projects, prospect abandonment and change of goals.

Yet, people are not one bit concerned or feel the need to question the bod.

£14.7 millions more, no problem!!

Their attitude as if it was £140

Reality is, the company is taking money and doing a very poor job. They have not delivered on multiple occasions.

The promoted prospects and a lot of them got abandoned.

The new Borzon Block even, no one is asking what were the reasons other operators chose not to continue. If it was a gold mine you think other operators would give it up.

Wake up.

The key word in your post is "lies" and the long term shareholders have had enough of it.

If you pay a premium price for a product, being told it's a quality top brand, only to find out its a cheap pound shop material when it arrives, would you not want a refund and put in a complaint.

This is what is happening with MATD. We were sold and promised the funded projects would bring returns. In reality, the quality were different, the effort put in were half hearted, the originally plan to develop the full Heron field didn't materialize. Money in the millions were taken.

Let's be honest here. Most of you here don't have the courage to confront and question MB. He can do as he likes to shareholders, whether you like it or not.

It's the reason he bidded the Borzon Block, he is already setting himself up for another 8 years of pay. How about actually delivering some results.

How can a CEO tell the market one thing and then do another. It's not cool.

I'm surprised there hadn't been a class action on this

Buck has misled shareholders, taken advantage to raise millions said to develop projects, did a half hearted job and spent all the funds, only to then change objectives.

That's exactly it.

MATAD had spent 10 years plus in Mongolia.

What have they achieved?

I'm short, a 200bopd well with issues and still waiting for export license, and millions of investors money gone to waste.

Yet, they want more funding for them to have a go at the next project. MB really shouldn't treat the market like a charity. Shameless!

How many chances does the guy want?

Wild horse failure

Snow leopard failure

Gazelle failure

Antelope abandoned

V- raptor abandoned

Gobi failure

H1 issues

H2 issues

And he has the face to come out and ask for £14.7million

Just step down already.

"Could be Mike Buck throws a curve ball and surprises us all with a complete different deal, watch this space.'

Could? It has already happened.

Original plan: expand Heron field

New plan: Borzon Block VII

MATD has all the hallmarks of a xxxx

Are you guys making things up again?

I cannot see any mention of Block Energy in the link bobbyrash

I think people agree there will be a placing.

Many are waiting on the sidelines to see what happens

"might not need to raise all the money or indeed any of it"

Are you sure?

Last RNS clearly gave an indication of at least £14.7million required over the course of 8 years for the new field commitments and that just for the new block.

H1 and H2 running and remedial costs is any bodies guess but its definitely won't be free.

The company monthly expenses?

Export license fees?

Oil transportational fees?

The "might not need to raise" doesn't sound very doable putting into consideration of all the expenses required to keep the company and their operations going.

I did mention that by Buck taking on more projects, equivalently the expenses and funding will be bigger too.

I won't be surprised to see an initial 10mil placing to start things off.

If next news is a bad one or a placing announcement, then this could drop 30-50%?

No buys today?

Surely if this was seriously undervalued you would see some buys coming in?

"2025 plans then most likely"

Followed by talks of funding and placings?

People should know that this is strictly business.

We, as investors, in the company should be asking questions and pushing the company for results.

Don't forget these guys are asking for millions of pounds for them to act in the interest of the company and it's shareholders.

The company should be giving definitive time lines and laying out plans for their objectives, and meeting them as well as producing results.

But instead of raising questions, all I see on the boards are people quoting "good buy" or this will go to 5p, or 10p, or 12p

With lack of information to support their price predictions and no timescale whatsoever.