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Generating revenue: it hasn't happened until it has happened!

David Lenigas is an Australian-British entrepreneur known for investing in small cap mining, oil & gas, and tech ventures, particularly on London’s AIM market. His reputation is mixed, some see him as a bold promoter of early stage projects, while critics argue that his track record has contributed to investor losses.

Lenigas has been associated with numerous small-cap resource exploration firms. These companies:

-Often rely heavily on promotional announcements.

-Have volatile share prices.

-Frequently operate in early-stage, high-risk sectors (mining, oil exploration, lithium, etc.).

Many investors reportedly lost money when some of these ventures underperformed or failed to deliver commercial results.

Dyor

For the 50th billion times, Oracle are only left with 10%, not 20%!!!

These rampers thinks MEGA is doing charity or what

Perhaps the rampers can ask "sharemans" for his sources again, as that's what they like to hear regardless of his lies

Where were the fabulous assay results that was supposed to be announced on Friday then?

Just another one of the rampers daily fantasies

Many people have been sucked into the hype without knowing what the company is really about.

Here's a recap of the company:

The split:

Strictly speaking, it's 80/20 split between Riversgold and Oracle.

Then it's another 50/50 split from the 20% between Oracle and Mega.

So Oracle will only receive 10% of whatever potential find.

Oracle projects & running costs:

Oracle stated that the initial phase of the Thar Block VI coal and power development carried a gross project cost of about US$1.6 billion.

For the Green Hydrogen project, total cost is projected at about US$2 billion.

There's also the Blue Rock Valley project and other company expenses to pay.

Potential revenue Vs expenses:

The Northern Zone has an upper case scenario of £600 million POTENTIAL.

Oracle's expenses is absolute, and as announced the Thar project alone will require $1.6billion.

The Northern Zone 10% simply isn't going to cut it for Oracle in the long run. Their expenses greatly exceeds any potential income.

The fundamentals:

15billion shares issued speaks for itself. Last checked Oracle only had £557,986 and this was in June 2025. The raised another £500K in August 2025. This brings a total of £1,057,986

Administrative expenses for 6 months is approx £281K. Give it until August 2026, and they would have spent £562,000 on administrate expenses alone. Leaving £495,986 in the bank.

Additional Expenses:

However, Oracle has several types of potentially unforeseeable or uncertain expenses/liabilities beyond its regular monthly operating costs that falls under the regulatory, political, environmental, and permitting costs that cannot be forecasted precisely. Here are few examples:

1) Need for costly capital raises or project delays.

2) Unplanned development, permitting, or compliance costs

3) Writedowns if projects don’t perform

4) The weakened currency. The company operates internationally, fluctuations in exchange rates (especially USD, AUD, and PKR vs GBP) can reduce reported profits or increase costs unpredictably.

Past unexpected expenses:

To support my points, Oracle has had one or more unexpected / non-recurring kinds of expenses or charges in its financial history.

Oracle Power has in incurred Impairment charges on loans to subsidiaries and associates in the past; eg, £507,613 in 2024.

In 2022, the company also recorded impairment of debtors, £605,513 of unpaid amounts in the accounts.

The £605,513 sum owed to Oracle Power PLC in 2022 came from loans and financial advances the company had made to its subsidiaries and project entities.

Conclusion:

Any potential revenue from Northern Zone won't happen immediately whereas the urgency for Oracle to raise will.

Do people really think Northern Zone will generate revenue by August 2026?

Many people have been sucked into the hype without knowing what the company is about, and now, they are feeling agitated, and not accepting responsibility for their own investment decisions.

People dismissed a lot of information because it WASN'T what they wanted to hear, and now, they themselves need to hold accountable for their investment.

Here's a recap of the company:

The split:

Strictly speaking, it's 80/20 split between Riversgold and Oracle.

Then it's another 50/50 split from the 20% between Oracle and Mega.

So Oracle will only receive 10% of whatever potential find.

Oracle projects & running costs:

Oracle stated that the initial phase of the Thar Block VI coal and power development carried a gross project cost of about US$1.6 billion.

For the Green Hydrogen project, total cost is projected at about US$2 billion.

There's also the Blue Rock Valley project and other company expenses to pay.

Potential revenue Vs expenses:

The Northern Zone has an upper case scenario of £600 million POTENTIAL.

Oracle's expenses is absolute, and as announced the Thar project alone will require $1.6billion.

The Northern Zone 10% simply isn't going to cut it for Oracle in the long run. Their expenses greatly exceeds any potential income.

The fundamentals:

15billion shares issued speaks for itself. Last checked Oracle only had £557,986 and this was in June 2025. The raised another £500K in August 2025. This brings a total of £1,057,986

Administrative expenses for 6 months is approx £281K. They would have spent £562,000 on administrate expenses alone. Leaving £495,986 in the bank.

Additional Expenses:

Oracle has several types of potentially unforeseeable or uncertain expenses/liabilities beyond its regular monthly operating costs that falls under the regulatory, political, environmental, and permitting costs that cannot be forecasted precisely. Here are few examples:

1) Need for costly capital raises or project delays.

2) Unplanned development, permitting, or compliance costs

3) Writedowns if projects don’t perform

4) The weakened currency. The company operates internationally, fluctuations in exchange rates (especially USD, AUD, and PKR vs GBP) can reduce reported profits or increase costs unpredictably.

Past unexpected expenses:

To support my points, Oracle has had one or more unexpected / non-recurring kinds of expenses or charges in its financial history.

Oracle Power has in incurred Impairment charges on loans to subsidiaries and associates in the past, eg: £507,613 in 2024.

In 2022, the company also recorded impairment of debtors, £605,513 of unpaid amounts in the accounts.

The £605,513 sum owed to Oracle Power PLC in 2022 came from loans and financial advances the company had made to its subsidiaries and project entities.

Conclusion:

Any potential revenue from Northern Zone won't happen immediately whereas the urgency for Oracle to raise will.

Do people really think Northern Zo

It's been said time and time again.

Let's keep it real. MB has proven he cannot be trusted.

The market has lost confidence in Matad and rightly so.

It's time for Buck to deliver to expectations, no more hypes and talks, we want actions and results!

No good saying things will SOON happen, instead, how about just DELIVERING them.

What's holding them back?

10 years not enough time for them to sort themselves out?

£190 million isn't enough to get one well onto production on a satisfactory level?

H1 went from 821bopd to being choked back to 200bopd. Turns out it was 160bopd and latest report was 150bopd. MB once again wasn't transparent with shareholders.

What happened to the H1 & H2 well modification and production ramp up?

This company operates on new hopes and raises, but nothing ever materializes like the JV and farm in talks that has been ongoing for 10 years. The plan (or should I say hype) to become a sufficiently self-funded company seems like it can only exist in fantasy.

Cash won't last in the Matad bank, they will require heavy funding and Borzon alone will require a whopping £14.9miion over 8 years.

The long term holders have all lost money here. Gone are the days people invest based on empty promises and trust, time to show some results.

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

All in my opinion and DYOR

No progress from THAR since!!!

I recommend people to listen to the past Shareholder Q&A Q2 2024. Many of the spoken projects have made little to zero progress since.

Even the interviewer sounded frustrated with the continuous delays and the scripted responses from Naheed.

It felt like an interrogation at some point and you can literally hear Naheed's voice shaking when being questioned about progress and value realisation.

The interview wasn't a showcase of confidence, it highlighted the lack of preparation, company strategies or any kind of forward plans.

Listening to Naheed getting roasted doesn't really boost confidence for shareholders and potential investors.

https://youtu.be/3racQO34g7s?si=ltQ0V-yQcy2XDhs_

In my honest opinion

AS STATED BY THE CEO!!!!

🤡🤡 CEO Statements Vs Results! 🤡 🤡

Based on MBs past statements and hardly any of them have been delivered, I can't see why anyone genuine would trust him anymore....

*When MB said 60-70% COS, all wild cat were dusters

*When MB said ongoing JV interests from multiple parties, no deal in the past 10 years

*When MB said exclusivity and support from the Mongolian Government, extensive bureaucratic processes hold ups

*When MB said fully funded, he then raises funds a few weeks later

* When MB said the company needed funds to help the company stay afloat after the COVID period, he got the funds and went and blew it on Gobi wildcat.

*When MB said Gobi evaluated to be a good prospect, it turned out to have no sign of oil

*When MB said H1 flowed at 821bopd, he then choked back the well for a maintained flow rate of 200bopd, but then the final flow rate turned out to be 160bopd

*When MB said Heron has millions barrels of oil potential, he then goes bid for the Borzon Block and thinking of moving onto that block instead

* When MB said H1 is a quick easy fix with a cheap sand screen, he then says in the next RNS alternative methods may be required

* When MB said payment is expected in May, he then tell the market of the tax issue like he wasn't expecting it.

* When MB spoke of plans to boost H1 production, he then drops the plan like he never mentioned anything

Would you wanna trust such man on your investment decisions?

These are facts.

Or perhaps when people realize getting from a drilling to revenue stage will take much longer, then the idea of a quick revenue will be disapproved.

Yes it's not a question of "will there be a placing?" its a case of when it will happen......

Once again we hear "final stages" for the JV / farm out quoted in the latest RNS.

We've been hearing that for the past 10 years apparently.

Will the next RNS also say the same?

When will the deal ever materialize ?

I really don't like it when the BoD uses marketing buzz words like "fast track."

How quick is fast exactly. Fast can mean 1 year to Joe, or it can mean 3 years to John.

I prefer a specific time frame over fancy words.

"Fabulous Assays will be announced tomorrow in an RNS if my sources are correct so hence the rise this afternoon with those in the know."

Well well well....once again you guys are proven full of sheet.

Just like the people talking about quick revenue within the next few months.

If those guys had spent a year getting the ML, then drilling to first revenue within 6 months stand no chance.

Perhaps certain forces in the background doesn't want people to listen to everyone's opinions?

These people want you to believe in what they want you to believe?

Once again we hear "final stages" for the JV / farm out quoted in the latest RNS.

We've been hearing that for the past 10 years apparently.

Will the next RNS also say the same?

When will the deal ever materialize ?

Shallow Gold Mine Total Typical Timeline.

Optimistic scenario: 2–3 years from drilling to first revenue (for shallow, high-grade deposits with minimal permitting delays).

More realistic scenario: 3–5 years, especially if permitting, financing, or processing facilities take longer.

Will Oracle have cash to last 2 years in an optimistic operational scenario?

I'm not having you guys remove my post to your liking after doing all that write-up, just because you don't like facts.

Let's take a look at the company's cash position and past spendings!!!

June 2025:

Oracle Power had £557,986

August 2025

They have raised £500,000 before expenses .

Which equates to :

£1,057,986

Adminstrative expenses is approx:

£281,000 (every 6 months)

By August 2026:

They would have spent £562,000 on administrate expenses alone. Leaving £495,986 in the bank.

But...Oracle has several types of potentially unforeseeable or uncertain expenses/liabilities beyond its regular monthly operating costs that falls under the regulatory, political, environmental, and permitting costs that cannot be forecasted precisely. Here are few examples:

1) Need for costly capital raises or project delays.

2) Unplanned development, permitting, or compliance costs

3) Writedowns if projects don’t perform

4) The weakened currency. The company operates internationally, fluctuations in exchange rates (especially USD, AUD, and PKR vs GBP) can reduce reported profits or increase costs unpredictably.

History:

Now, to support my points, Oracle has had one or more unexpected / non-recurring kinds of expenses or charges in its financial history.

Oracle Power has in incurred Impairment charges on loans to subsidiaries and associates in the past, eg: £507,613 in 2024.

In 2022, the company also recorded impairment of debtors, £605,513 of unpaid amounts in the accounts.

The £605,513 sum owed to Oracle Power PLC in 2022 came from loans and financial advances the company had made to its subsidiaries and project entities.

Conclusion:

By August 2026, Oracle will be left with approx £495,986 in the bank, and this calculation is only using the company monthly administrative costs, without factoring additional unforeseeable expenses like the ones mentioned above.

Further more, why would a non-revenue generating company loan money out to its subsidiaries and then failing to get it back, it's beyond believe when Oracle themselves are relying on funds raises to keep the lights on.

Will they loan out money again like they did in 2022 and 2024?

And let's keep it real, do you think Oracle Power will leave it until August 2026 before they raise again?

Do people really think Northern Zone will be generating enough money for Oracle by August 2026?

It is nearly March, 6 months to go until August 2026.

SWAT77,

You keep pushing for a breakdown and analysis.

Here you go:

June 2025:

Oracle Power had £557,986

August 2025

They have raised £500,000 before expenses .

Which equates to :

£1,057,986

Adminstrative expenses is approx:

£281,000 (every 6 months)

By August 2026:

They would have spent £562,000 on administrate expenses alone. Leaving £495,986 in the bank.

But...Oracle has several types of potentially unforeseeable or uncertain expenses/liabilities beyond its regular monthly operating costs that falls under the regulatory, political, environmental, and permitting costs that cannot be forecasted precisely. Here are few examples:

1) Need for costly capital raises or project delays.

2) Unplanned development, permitting, or compliance costs

3) Writedowns if projects don’t perform

4) The weakened currency. The company operates internationally, fluctuations in exchange rates (especially USD, AUD, and PKR vs GBP) can reduce reported profits or increase costs unpredictably.

History:

Now, to support my points, Oracle has had one or more unexpected / non-recurring kinds of expenses or charges in its financial history.

Oracle Power has in incurred Impairment charges on loans to subsidiaries and associates in the past, eg: £507,613 in 2024.

In 2022, the company also recorded impairment of debtors, £605,513 of unpaid amounts in the accounts.

The £605,513 sum owed to Oracle Power PLC in 2022 came from loans and financial advances the company had made to its subsidiaries and project entities.

Conclusion:

By August 2026, Oracle will be left with approx £495,986 in the bank, and this calculation is only using the company monthly administrative costs, without factoring additional unforeseeable expenses like the ones mentioned above.

Further more, why would a non-revenue generating company loan money out to its subsidiaries and then failing to get it back, it's beyond believe when Oracle themselves are relying on funds raises to keep the lights on.

Will they loan out money again like they did in 2022 and 2024?

And let's keep it real, do you think Oracle Power will leave it until August 2026 before they raise again?

Do people really think Northern Zone will be generating enough money for Oracle by August 2026?

It is nearly March, 6 months to go until August 2026.

June 2025:

Oracle Power had £557,986

August 2025

They have raised £500,000 before expenses .

Which equates to :

£1,057,986

Adminstrative expenses is approx:

£281,000 (every 6 months)

By August 2026:

They would have spent £562,000 on administrate expenses alone. Leaving £495,986 in the bank.

But...Oracle has several types of potentially unforeseeable or uncertain expenses/liabilities beyond its regular monthly operating costs that falls under the regulatory, political, environmental, and permitting costs that cannot be forecasted precisely. Here are few examples:

1) Need for costly capital raises or project delays.

2) Unplanned development, permitting, or compliance costs

3) Writedowns if projects don’t perform

4) The weakened currency. The company operates internationally, fluctuations in exchange rates (especially USD, AUD, and PKR vs GBP) can reduce reported profits or increase costs unpredictably.

History:

Now, to support my points, Oracle has had one or more unexpected / non-recurring kinds of expenses or charges in its financial history.

Oracle Power has in incurred Impairment charges on loans to subsidiaries and associates in the past, eg: £507,613 in 2024.

In 2022, the company also recorded impairment of debtors, £605,513 of unpaid amounts in the accounts.

The £605,513 sum owed to Oracle Power PLC in 2022 came from loans and financial advances the company had made to its subsidiaries and project entities.

Conclusion:

By August 2026, Oracle will be left with approx £495,986 in the bank, and this calculation is only using the company monthly administrative costs, without factoring additional unforeseeable expenses like the ones mentioned above.

Further more, why would a non-revenue generating company loan money out to its subsidiaries and then failing to get it back, it's beyond believe when Oracle themselves are relying on funds raises to keep the lights on.

Will they loan out money again like they did in 2022 and 2024?

And let's keep it real, do you think Oracle Power will leave it until August 2026 before they raise again?

Do people really think Northern Zone will be generating enough money for Oracle by August 2026?

It is nearly March, 6 months to go until August 2026.