Member Info for TheCondorMan

all suppositions. your reputation on that front precedes you... look back 10+ years and see what all the suppositions has produced. You simply are incapable of looking at the 'other' side.... it's always presumptions to the positive. Even a balance sheet has two sides.

Dream on rob.. like you've been doing for the past 7-10+ years. the only way it will go beyond 2.4p is a consolidation which is a dead cert after the next fund raising.

Warrant money ? lol. they are only worth exercising if the price is above 2.4p

Sheesh.... people 'invest' without even reading the company's financial reports ?

25. Legal Allegations

There is a pending legal case against the Company for an amount of GBP 5.1 million from a claimant, Demissie Asafa Demissie (the "Claimant"). The Company believes the claim for successful provision of financial advisory services is spurious and without merit. Nonetheless, the amount claimed can only be payable on successful closing of the Tulu Kapi Project finance, which has yet to occur. The Company is making a counter claim and vigorously defending its position. The Company has engaged legal counsel to represent its interests. At this time, it is not possible to predict the outcome of this case or the potential impact it may have on the Company's financial position or operations. The Company will disclose any material developments related to this case as and when required by applicable laws and regulations.

1) The company has very little money - most of the placing money has gone into clearing the liabilities (£5.1m). It will have to raise more millions very shortly.

and

2) The company is being sued by an Ethiopian engineering contractor (Demissie Asafa Demissi) for over £5m - the case will start soon.

Only mad gamblers would punt on this.

It's less than 0.8% of the issued share capital. hardly game on even if its a buy.

Scratch that, i was looking at the final trade displayed (1.8m)

No, it was a sell. look at the time. it was done at 8:05:09

the price then was : 0.562 - 0.6

there was a 1,800,000 sell 1 second after that one, price : 0.00567 done at 08:05:10

On top of that, the geology for V1 is one of the best you can have for oil... that is an "inversion anticline prospect "

It's here

imgur.com/sMFrOpV

"On Block XX, the Ministry of Construction and Urban Development has completed its internal work on the certification of the Company's Exploitation Area as special purpose land"

read the rns and you will see progress is has been made pretty swiftly this time round. The ministry itself has completed it's own internal work/review and now awaiting comments from other ministry departments. If they wanted to act awkward and had objections, they themselves would've raised objections prior to passing it on to other departments within the ministry. But they didnt.

This implies quite prompt progress, chiefly as the work has already been done and it was successfully passed onto cabinet via the other government ministry. Something that took years to clear has been done in a few short weeks... i guesstimate it will be another similar time before it finally gets handed to cabinet for approval. Red tape formality

As for the share price - nervous nellies would've jumped ship... but from trading so far it seems MMs lapped up the stock, even a c 1m+ sell @10:07, within its stride, and even had the gall to mark the share up soon after.

Pretty sure once the loose stock is taken, this will start a new leg upwards.

Lol.. bce ? 10b shares in issue. 10m market cap

and the well you are referring is a poxy 3.4m boe 2p..

" Forecasts show that the Group will require additional funding in Q3 2023 to meet project development, working capital needs and other planned expenditures. Should funding be required before financial close (ie full funding) of the Tulu Kapi Gold Project, the Company has potential access to short term funding from shareholders and other alternatives on offer, but currently not committed, as has been the case in the past."

and with debacle of current placing.... who on earth would stump up more £millions to keep the lights going ? Heck, the billion new shares are a long way to being 'digested' in the market. It will take months and months on current volume to wash the placing shares through the market.

What the market hates is the prospect of more confetti in the not too distant future.

That's the whole point. it's showing as designated special purpose land.

"The Mongolian government's process to certify Petro Matad's Block XX Exploitation Licence area as special purpose land is progressing.."

not that it has been designated which the map shows

It hasn't been designated yet officially. the map shows it has

Exactly.

Oops forgot the link

https://imgur.com/a/0GOFt3p

How can it tank when the drilling isnt even priced in. Yes, when spudding is announced, the share will rise in anticipation and rise further as TD is reached... and THEN it will either tank on a duster or appreciate considerable if they hit pay dirt.

I got sent this image from a friend

take not of the legend. first one shows areas which is designated as Special Purpose

the 2nd image shows area which is NOT.