Market's view on Petro Matad
Published on April 2024
- A Stock Watcher expressed frustration over the company’s consistent inability to deliver tangible results, despite repetitive promises and shifting strategies, leading to temporary stock spikes driven by hype.
- A Stock Watcher lamented the apparent futility in awaiting approval for operations, feeling that shareholders have been significantly let down after many years.
- Issues such as local corruption, inefficient administration, and government incompetence were highlighted as major obstacles causing stagnation in operations, especially in oil production.
- Concerns were raised about the lack of action on the Heron 1 project, noting its potential financial benefits and suspecting high-level corruption as a possible factor in the government’s inaction.
- Multiple mentions of red flags currently present within the company and pessimism about the outcome of the AGM were noted.
- Frustration was voiced over the Mongolian central and regional authorities’ inefficiency and the CEO’s lack of effective communication, specifically regarding overdue legal documentation for oil extraction.
- Speculation about internal financial issues was sparked by significant stock sales, with a Stock Watcher questioning if these were indicative of a forthcoming capital raise.
- Criticism was directed towards the company CEO, labelling him as dishonest and ineffective.
- A Stock Watcher mentioned a noticeable stock buy, suggesting a potential buyer in the market, which was seen as a positive sign despite other issues.