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This is a very interesting development.

So, I asked at the investor brief, is Sinopec or Petro china the farmee. No they are not! But in the minutes." We dont want to disclose for commercial reasons. Ok odd but reasonable.

Ok, so who has made a farm out offer, assumption, Indian company terms average but being worked up.

Today MOU with Petro China for cooperation across 3 blocks.

Assumption, the farmee needed clarity on terms wanted a formal MOU executed. Weird but not totally unprecedented. We know that the farmee is sub 50 % amd won't be operating the JV.

Interesting no RNS, mayne Monday

Very interesting that we have an X post and no detail,

Fascinating tweet.

Good luck true Matadors 👍

Could be a deal whereby they drill 10 to 15 wells using their gear and then pay us 20M for 30%. Gives them access to a share of 3 billion in oil revenue. Seems too cheap but gets us moving. Im still anticipating an offer from PC on block 20 . All good, I would prefer to develop the field and think long term value building. Get block7 moving and massive renewable sales and 2026 could end up being quite spectacular .

Best of luck to the long term holders. Its close

I think it will be around 20M to 30M USD for 40% if I had to guess but that's all it would be. Love to think there is a premium to be paid. Always nice to be realistic witj an optimistic upside. That sort of money would give us solid 2 year work program. Get us up to 10p in a short space and then developing the field happens at speed. I thought we would be partnering with a company who drilled but as it appears we may not be for block 20 the farm in amount may be higher.

I am thinking they will do a minimum of 5 additional wells a year over 2 years just on block 20 . Plus testimg and some more data gathering / 3d data. We have seen the development plan. Mayne more wells is possible

Anyone else have any thoughts about the Capex required and the number of wells per year.

Speculative but I think in that ballpark

Very happy with todays update. Very interesting that the farm out partner is neither Petro China or Sinopec so that is very positive. Who is it? Indians or Saudi? Or .......???

Having three parties to negotiate a farm out deal is extremely good situation. I still think Petro China will wait for this deal to be close then roll in a big for a block 20 buy out.

A lot of interest in block 7 JV / farmout, but that was a different party again from block 20 discussion.

Renewable stuff was very good. I got a sense that we will flick on a project early next year which will once again provide a cash injection and the big projects are extremely advanced. All good

In my view farm out done by mid Jan or other party makes their move. Either way great stuff.

Have a great Christmas all. A VERY exciting year ahead. Finally our time. Maybe a farm out before the end of the year!

Merry Christmas

Just a reminder for new potential investors

2 billion plus USD oil in place.

2 successful production wells on stream NOW producing 350 BOPD with a net profit per barrel after all costs of between 40 and 50 dollars

Smart investor Warren Buffett bullish on oil and has been accumulating energy stocks

Third well, Heron 2 being worked on may bring another 50 to 100 barrels a day, possibly higher if the clean up worked. If not successful then will may be used as a water injector well increasing flow in surrounding wells.

GAZELLE 1 the second production well in a separate structure, a recent significant event noe on production also at around 200 barrels a day.

Oil flows all winter so NO SHUTDOWN, compamy has circa 100k a WEEK income through winter. More if Heron 2 is success

We also have a massive renewable arm with multiple sale ready projects of incredible scale.

NIL DEBT

Possible company making farm out or sale agreement at contract stage with commercial terms agreed.

These are RNS checkable facts. dont listen to noise.

Great opportunity here and news inbound imminently

Thanks Dan

Let's hope its a tank.

Great work as always

All, please just stop dialogue with the trolls. We know who they are , we know why they are here. Just dont engage, it gives them oxygen. Just report their posts when they are untrue and hold off any use of their Handles.

We will be set free soon enough.

Just a reminder for new potential investors

2 billion plus USD oil in place.

2 successful production wells on stream NOW producing 350 BOPD with a net profit per barrel after all costs of between 40 and 50 dollars

Smart investor Warren Buffett bullish on oil and has been accumulating energy stocks

Third well, Heron 2 being worked on may bring another 50 to 100 barrels a day, possibly higher if the clean up worked. If not successful then will may be used as a water injector well increasing flow in surrounding wells.

GAZELLE 1 the second production well in a separate structure was a recent significant event

Oil flows all winter so compamy has circa 100k a WEEK income through winter. More if Heron 2 is success

We also have a massive renewable arm with multiple sale ready projects of incredible scale.

NIL DEBT

Possible company making farm out or sale agreement at contract stage with commercial terms agreed.

These are RNS checkable facts. dont listen to noise.

Great opportunity here and news inbound imminently

Even better ,apologies, circa 100,000 USD to MATD PER WEEK - - not per month.

Sorry late here 😅

Just a reminder for new potential investors

2 billion plus USD oil in place.

2 successful production wells on stream NOW producing 350 BOPD with a net profit per barrel after all costs of between 40 and 50 dollars

Smart investor Warren Buffett bullish on oil and has been accumulating energy stocks

Third well, Heron 2 being worked on may bring another 50 to 100 barrels a day, possibly higher if the clean up worked. If not successful then will may be used as a water injector well increasing flow in surrounding wells.

GAZELLE 1 the second production well in a separate structure was a recent significant event

Oil flows all winter so compamy has circa 100k a month through winter. More if Heron 2 is success

We also have a massive renewable arm with multiple sale ready projects of incredible scale.

NIL DEBT

Possible company making farm out or sale agreement at contract stage with commercial terms agreed.

These are RNS checkable facts. dont listen to noise.

Great opportunity here and news inbound imminently

I am now more confident that good news is coming

This is absolutely MMs accumulating stock for imminent good news RNS in ny view.

Guess we shall see this week.

Wish list for me personally .

Heron 2 flowing circa 100 bopd on production

Heron 1 safely continues

Gazelle 1 50 bopd increase steady state production

Payment issue resolved

Farm out detail first week December.

Fingers and toes crossed we get a long overdue Good News RNS

Best of luck true Matadors 👍

Awesome Dan.

Thank you for all your efforts

Gosh the armchair CEOs are all having a swing today.

All you need to know is there are billions of dollars of oil in the ground, we are operating in a frontier country.

The compamy is making significant progress across multiple fronts and whilst taking 70% pay cuts.

You all have ridiculous expectations of timeline, news flow and what is achievable.

The people who get it, will be handsomely rewarded both in the short medium and long term. To those that dont thats fine, you are welcome to your contrary viewpoint. Just dont spend your life wasting your time here telling us about it. We dont care, we are happily invested, we believe in the future , we believe Mike and the board are doing an amazing job guiding us through to the payday.

Im very happy with the investment and I think a lot of long term holders will be rewarded shortly

Back to the real world now.

Lots of good news to come

Says the sad guy who doesmt hold and spends 24/7 here pointing out other peoples shortcomings and how terrible this company is all to avoid people investing.

Thank you, but the adults are having a conversation now.

Its really quite simple. Don't buy, dont get triggered dont bother us, we are happy with the risk reward.

My position hasnt changed since we funded the listing. I still firmly believe in the.asset, the future amd the board. I continue to accumulate and I am.very happy to.

What is the next level for MATD in terms of London listing's. Im Oz based , so not overly familiar with where to next in this space

I think, as frustrating as the short term spikes and overdone pullbacks are, we have NEVER been better positioned as a compamy. Revenue.producing , NIL debt, strong pipeline of news inbound. Billions of dollars of oil in the ground.

It is disheartening when good news is met with sell offs. it started with Heron 1 flowing. We should have seen a much more significant share price reaction to this news.

I think Mike and the company are doing the right thing. Get the oil flowing, get the renewable business cash generating. Find a farm out partner , avoid further dillition where possible.

The share price WILL catch up to this position soon enough. The AIM is a terrible market so hopefully when we have a decent MC we can move to a more stable shareholder friendly platform.

Hold and accumulate where you can. The rewards are comimg to those that dont wet the bed. I strongly believe there is a group or company actively trying to supress the share price. IMO you dont do this unless you can see the incredible value proposition MATD provides and you are actively trying to impact negotiations.

I am very excited about all the news that we should get before the end of the year.

Fingers crossed for a red dot with some balls one day soon

Come on Mike, we need a great announcement to get us back on a reasonable share value and set us up for the future.

All the best to long term holders, we do deserve a ripper RNS

This is a really significant event for MATD.

Two procuding wells, probably 3 by winter

2 Billion dollars Oil in place

NIL debt

Cashflow positive.

If you reflect on the last year we have ended up in a very good place. MMs will play their games but share price will end higher today or tomorrow, we have more than doubled revenue.

It also massively derisks any farm in discussions as we have 2 structures, 2 /3 producing wells and plenty of news coming.

Personally I dont want to sell the block for a short term sugar hit, unless its above 300M to 400M for this block. 60 plus million barrels recoverable should attract a premium. Especially when it's only going to cost the likes of Petro China about 80M to drill 30 wells and put 20 on production. Probably much less with their scale. A farm out is my preference and a focus on supplying the refinery in 2027.

Still plenty of news to come on Sunsteppe too.

Well done to those that have been here from day 1. Also thank you to Mike amd the board for managing to to keep us moving with all the challenges thrown up. We all deserve the rewards that will come in time

Hold and accumulate

Great stuff

I think we should plan for Gazelle to be at 150 bobd amd anything up from here is a significant bonus. Hoping for more, but commercial result will be outstanding either way.

All these wells will require a pump so I think it will be installed at the same time for efficiency and completed concurrently. A nice steady 150 to 200 barrels a day to start.

H2 100 TO 150 commercial

3 wells producing into winter will be significant.

Then sell a few renewable projects from the 1B war chest. Choir to start, Immediate cash injection

Then farm out 30 well program for 2026.

That is my wish list before Xmas.

Good luck all

Get it done Mike

Cheers