Member Info for Unnd

Master82 - slide 13 shows 'Block XX Forward Work Plan'

It appears that they have put 3D seismic ahead of any drilling this summer.

I think the CEO stated that they do not want to be drilling at the same time.

TBT posted on 13/05/26 - 'TT: they ask to be specific when you report something. I’ve reported a number of posters here. For example: on 10th May, Unnd claimed Petro Matad have zero revenue. That’s false and misleading. So I reported him with the evidence. Screenshots.'

I would love to know what evidence was given - TBT please advise.

Today's RNS proves who is the genuine investor who posts actual facts and who is a paranoid schizophrenic with delusions of grandeur.

Yep stock manipulation is illegal

Yep you appear to be delusional

TBT you have again demonstrated your delusional nature.

If you are invested in MATD, which I doubt, then you must be insecure in your investment.

TBT I could not resist replying to you as your post is complete nonsense.

It is material event if PC are defaulting on payment, however if they have not been invoiced ar the Agreement is not signed then they are not defaulting and it would be libellous for MATD to state otherwise.

Thank you for reporting me as that is also nonsense.

If any one needs reporting it is you as you are clearly delusional and trying to bully people from this board for simply having a different opinion to you.

Hi Dan, I have previously e-mailed MATD on this subject and not got a response.

I hope that you do get a response to clarify the position.

Jeez TBT, MATD cannot invoice and therefore there is no default by PC i.e. they are not withholding payment and therefore MATD do not need to state 'we are not getting paid by PC' but they do need to advise the market that the 2026 OIL Sales Agreement has not been signed.

Hope that finally clarifies as that is my last response to you on the subject.

Dan, the company have said that the 2026 Agreement now contains amendments to the previous Agreement and that it is awaiting signature.

Do you think that PC, or any company, would make payment on account without a signed Agreement (contract) in place?

From my experience business does not work like that and especially PC.

IMO the reason that MATD have notified the market that it has not yet been signed is because it is a material event that affects cashflow.

Posters can decide for themselves but it would be naive to assume that PC would make things easy for MATD

TBT i think you need to read my post again.

It is your comment that is irrelevant.

What is relevant is that the 2026 Oil Sales Agreement is signed and payment made.

Your posts are argumentative and ignore the obvious.

Anyway I will leave you to post an argumentative response but look forward to your apology when the RNS arrives.

Some posters, for whatever reason, do not appear to understand the importance of getting the 2026 Oil Sales Agreement signed.

Without the Agreement MATD cannot invoice and be paid for 2026 production.

Lets hope that it is signed shortly and that the company can issue an RNS similar to the RNS on 28/04/2025 when the 2025 Oil Sales Agreement was signed which was as follows

'On 28 April 2025, Petro Matad and PetroChina Daqing Tamsag, the operator of neighbouring Block XIX, signed the Oil Sales Agreement covering storage, processing, transport and export of Block XX crude oil production. Petro Matad's invoices for the production from the Heron 1 well for the period 24 October 2024 to 31 March 2025 have been submitted and, under the agreement, will be processed for payment during the month of May.

TBT - the 30% was being withheld from invoices issued under the 2025 Agreement and therefore MATD had to advise the market accordingly.

They also advised when the withheld sum was repaid. That puts a line under 2025 payments.

That has nothing to do with the 2026 Agreement and payments.

The company had to advise the market that the 2026 Agreement has not been signed as it is a material event that affects payment.

Bull or bear that is a simple fact of life.

TBT why do you think that MATD advised the market that the 2026 Oil Sales Agreement had not been signed?

They do not need to advise the market that monies have been withheld as it is not due until the Agreement is signed and the sum invoiced.

This isn't rocket science it is business and common sense.

The 2025 Agreement was signed in April 2025 and first payment made in June 2025 for production that commenced in October 2024.

The only positive is that eventually it will be signed and payment made.

TBT the £1m payment was for 2025 production of which £300k was due to the MG.

The company are silent on 2026 payments other than to state that the 2026 Agreement has not been signed. That infers that payments have not yet been applied for let alone been paid. Do you think that PC will make payments without a signed Agreement - you are very naive if you do.

The 2025 Agreement was signed in April 2025 and first payment made in June 2025.

'We have a healthy net cash position'

Do we know that for certain given that the 2026 Oil Sales Agreement has not been signed and PC's propensity to withhold monies for any reason?

I have repeatedly e-mailed the company on this point without a response.

Lack of payment from PC could be the reason why the items noted as not being dependant on a farm out (H2 pump out, gazelle electrification, Gobi well test) have not been commenced or notified.

A farm out could happen tomorrow or in 3 months time as there is no timeline for such matters. In the meantime it has to be business as usual as far as possible.

TBT I posted my calculations yesterday and today which are:-

For clarity the terms of the PSC are:-

1. A. 5% Royalty is paid to the MG based on gross revenue

2. Matd can then claim up to 40% of the remaining revenue (Cost oil) until all development costs and current production costs are recovered.

3. The remaining revenue (Production oil) is shared with the MG 60:40 in favour of Matd.

Therefore as an example at $100 Brent the oil is sold in China at $95.5 (Brent less 3.5% less $1). $4.78 is paid to Mongolian Government as Royalty and then 40% of the remaining $90.72 is paid to Matd as cost oil ($36.28).The remaining $54.44 is then split 60:40 infavour of Matd to give them a further $32.66. We know from previous payments received that Matd pay Petro China around $15 a barrel for transporting, storing, processing and selling the oil. Therefore at $100 Brent MATD receive around $54/barrel.

Please advise where the PSC terms or calculation is incorrect.

Proquo with respect you do not need to guess as we know the terms of the PSC. Under those terms MATD receive £69/barrel at $100/barrel Brent. PC then deduct their costs which appear to be around $15 under the 2025 Sales Agreement and cash received by MATD is $54/barrel.

Abzzba we have gone past that. I will leave others to decide what the netbacks are following the PSC terms.

We are now discussing the increase from $70/barrel and your statement on tax losses.

Happy to have a sensible discussion based on facts.

Abzzba '$70 dollar Brent = $43 dollar profit, $103 Brent = $76 profit for each and every barrel.

Why do you persist with this nonsense.

You are now stating that MATD get the full increase when oil rises from $70. No they do not, they have to pay a 5% royalty on any increase and have to pay the Mongolian Government their share of the increase.

Wow this from a poster who thought MATD recovered costs through tax losses and not through the PSC.

Velocoraptor 'Are you taking into accout the PC withholding? Dont think you are, and you probably know that already'

If you actually read my post you will see that I added back the 30% withholding when calculating the $34. Jeez you guys. Facts are facts. Nice try though

Abzzba the reason I do not believe the earlier RNS that you quote is because subsequent RNS's that state the amount received in June, July and August all calculate at $34/barrel. Therefore I checked the terms of the PSC which back up the actual cash payments received at $34/barrel. The PSC terms are the PSC terms and maths are maths. Bull or bear facts are facts.