Pros, you are probably correct about no placing as Matad are having a tough enough time drilling 2 wells let alone 4. Considering we are now in September, the chances of a 3rd, let alone 4th well are probably quite small. Though a placing cannot be to far off, given how much cash these lifestyle companies burn.
RE: Awaiting the red dot tomorrow ... Or not?02 Sep 2019 06:57
In terms of hoping for an RNS, I would be careful what you wish for. News so far this year has either been very deceptive or downright horrible. With shares down 40% last week, it is probably far too optimistic to believe good news is on the way.
RE: Heron 1 75% Gazelle 50% Red Deer 33%31 Aug 2019 08:36
“Mike Buck CEO talks about...” Well there is your first problem, listening to MB. Go back through all the promises he’s made and it’s a trail of tears for investors. Remember when he said all permits were in hand in his last interview? Was that in fact the truth?
I would listen to what the share price is saying, rather than a lifestyle CEO who is loose with the truth.
RE: Exciting news coming our way!29 Aug 2019 08:09
Maybe he's afraid of what he might hear. Obviously the company is still not in possession of the Land permit for Heron, which I imagine is quite unusual?
With the ****up in last years drill program in this area and drilling already halted once for compliance issues, maybe all is not well? Punters seem to be voting with their feet! Matad sold off into drill results las year as well if I recall correctly?
"Further to its announcement on 14 August 2019, the Company reports that all processes for obtaining the land permits for the Heron and Gazelle well sites have been completed and issuance of the permits is waiting on final signature by the local governor. "
This was 7 days ago, still "waiting" then? How long exactly does it take a local governor to sign two documents?
"...resolve the issues in a positive manner rather than upsetting any local politicians."
A little late for that one isn't it?
Bear in mind, Matad completely ****ed up last years drill program in this block, so this is just par for the course mate!
These blokes are obviously hiding something, but punters like you just haven't gotten the word yet. But you can bet the smart money know, just as they did when they were selling at 9p when everyone here thought Matad were going to execute ****up free!
Matad lose this block in 2020 if they don’t make a discovery? And their best prospect has been delayed for an “undisclosed” amount of time with no schedule for the restarting of drilling? And bleeding $12k/day And the latest they can restart and expect to TD is within 60 days or thereabouts? And Matad only have cash for current drill program which is currently ****ed-up, after being ****ed-up last year as well. And punters are putting hard earned cash into this company?