Member Info for Unnd

With the exception of a few there has been some good adult posts today which are actually based on fact from the presentation and not from rampant wishful thinking.

For the avoidance of doubt as there appears to be various figures being quoted.

In the last presentation Matd confirmed the following costs:-

1. Drill each well - $1.5m

2, Drill, stimulate and complete each well - $4m.

I am all for being positive about your investment but can we keep to actual facts please.

Horult 'Do not use greater than or less than signs in your posts'

I did, thanks for the advice

I33 - If Matd get H1 & H2 in production prior to the winter shutdown they then may have other options e.g delayed payment agreement with DQE.

IMHO this looks like it is heading for a JV with PC in Q2/25.

My apologies guys for the repeat post which were both incomplete. My laptop seems to be misbehaving.

Investor - Matd had $1.9m at end of June add the raise and deduct the recent costs + G&A =

Investor - Matd had $1.9m at end of June add the raise and deduct the recent costs + G&A =

By my calculation we now have less than $3m which is why it has always been imperative to get at least Heron 1 on production over the winter shut down.

From the recent presentation the costs incurred ot to be incurred when Herron 2 is in production are

1, Heron 1 stimulate and complete - $2.5m

2, Heron 2 drill, stimulate and complete - $4m

3, Gobi drill - £1.5m

London Suede - do you have a relative comparison if you are not happy with AXL?

Investor 33 - it is difficult to calculate the expected market cap of Matd at 5K bopd as we do not know the details of the proposed cooperation agreement with PC.

What we do know from the latest presentation is that the oil is sold at $5-$10 below the Brent price.

For comparison AXL produces 5k+ bopd in Colombia, has no debt, $15m+ in cash, 286m shares and a market cap of £80m

The good news in todays RNS is that we have spudded Gobi-Bear 1.

The bad news in todays RNS is that we have committed £1.5m of a limited budget on spudding Gobi-Bear 1.

If we do not get into production on at least Heron 1 then we will, in all probability, have to raise monies again in early 2025.

If we get lucky and find oil then any raise will be significantly higher than 2p. If we do not find oil then any raise will be significantly lower than 2p.

The CEO has put us in a precarious position by spudding GB1 before we are in production.

We need that agreement with PC signed now and preferably the 'permanent' Construction Permit in place.

Cash is king and cashflow is the life blood of any company irrespective of the future potential.

Aeschylus - the RNS confirmed that we had lost another 2 weeks by not getting the construction permit an PC agreement in place which therefore increased the risk of becoming a producer in 2024.

Master82 - most CEO's try to hide bad news in an RNS by adding a bit of good news. In MATD's case they do the opposite by adding bad news to hide the good news.

It looks to me as though MATD were either late in applying for the construction permit or did not realise that one was required. In either case it is incompetence which may jeopardise MATD becoming a producer in 2024.

If they do not pump oil in 2024 then that puts serious pressure on cashflows and may lead to another raise.

We should not have planned to drill Gobi in 2024 until we were certain of cashflows by becoming a producer.

Master 82 - we have not had the flow rate. The RNS quoted the rate from the test in 2019.

Unfortunately COPL will not trade again as all the assets have been seized by Summit to repay the debt owed to them.

COPL will be a shell company without any assets and therefore it will be wound up.

Shareholders and Bondholders will lose all.

It is then down to MC to try to recover shareholder losses from the various parties involved in this debacle, Arthur Millholland being the main protagonist in my opinion.

IMO the most realistic scenario is that Summit takeover SWP or COPLA in full without any debts.

That would leave COPL. its shareholders and bondholders without any assets and would result in COPL being wound up.

Summit would then own a going concern that could be sold to recover its debt.

It is doubtful that they would pump more money into SWP or COPLA in the long term.

What we do not know as fact at this stage is the value of COPLA's assets.

I understand that MC is to get an independent valuation as a first stage in his proposed action.

Genuine question - can shorters place a buy order and not notify the FCA until it is filled, thereby avoiding the daily reporting rules?

If so is it legal or rule bending?

Stas 20 -I vote for reason 2.

As President of COPLA on a high salary he was tasked with getting the JV over the line and to increase production at BFSU.

He failed miserably at both and yet he is probably still drawing his salary at COPLA to this day.

Do we know as fact who the potential JVP was and why they walked?

We are in the position we are in because of the untruths, incompetence and financial mismanagement of Arthur Millholland.

I cannot understand why it takes SAVE 6 months to publish the YE audited accounts.

SEPL always manage to do it in 8 weeks.

Where is the Q1 update?

I am slowly loosing the will to live with SAVE.

We need to know the actual facts of the decision as the devil is always in the detail. The Chad Ministry may also have put their own spin on the decision.

IMHO this is all legal sparring whilst awaiting the main event.

That main event is the calculation of the compensation that is due to either Save or ExxonMobil following the Nationalisation of the oil fields.