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Petro Matad Share Chat (MATD)



Share Price: 7.125Bid: 7.00Ask: 7.25Change: -0.125 (-1.72%)Faller - Petro Matad
Spread: 0.25Spread as %: 3.57%Open: 9.125High: 9.125Low: 6.875Yesterday’s Close: 7.25


Share Discussion for Petro Matad


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GKahn
Posts: 85
Off Topic
Opinion:No Opinion
Price:7.125
A very different proposition now
Today 11:05
PM has funding for four wells in 2018; two of them in the nearly forgotten Block XX. The good news is that potential farm-in partners are parked at least for the foreseeable future. A big company farm-in partner would have wanted control over the farmed-in blocks for not enough financial commitment to sufficient wells for PM to justify. The new management and new independent non-exec clearly recognise that it will be much better for PM to go it alone, particularly now with the prospect of two additional wells in Block XX. There is no reason why a small exploration company cannot progress at this stage by contracting-in drilling services and consultants, particularly as this is relatively inexpensive and uncomplicated onshore exploration. The clue perhaps to the way ahead was provided in the announcement of 5 January when MRPAM approved the two-year PSC extension for Block XX without a farm-in. Food for thought? Also, it is most positive that management and independent non-exec are participating in this fund raising.
GKhan
 
MIKEY30
Posts: 252
Off Topic
Opinion:No Opinion
Price:7.125
View Thread (2)
RE: Thought for the weekend 3
Today 06:42
2010PM, thank you for the numbers. I read a number of posts on why we didn't keep Bergen for further funding and you have saved me the job. As D1nger was explaining the mean share price would have just exponetially reduced. Instead Mike Buck built confidence into the market, the news releases resulted in a respectable bid price of 6.5p per share and we are fully funded for the 2018 drilling campaign. I was sure of a farm-in partner based on previous wording but your comments have made complete sense of this alternative strategy.
Donkee
Posts: 1,770
Off Topic
Opinion:No Opinion
Price:7.125
Weather
Today 06:20
The average annual temperature in Mongolia's capital, Ulaanbaatar, ranges from -16°C (-2°F) in February to 16°C (62°F) in July. During the very short spring transition in Ulaanbaatar, the average temperature climbs from 8°C (48°F) in May to only 14°C (58°F) in June. Summer fades quickly, and by September the annual average temperature drops to 8°C (48°F). The average summer temperature is 20°c (65°F) . Winter average is ?20°c (-13°F) . In Mongolia there are 250 sunny days a year, often with clear cloudless skies. Precipitation is sparse in Mongolia, averaging only 378 mm (14.9 in) for the entire year at Ulaanbaatar. January and February are almost free of precipitation. April and May bring an increase in rainfall, But in June MATD discover a mother load of oil...
2010PM
Posts: 655
Observation
Opinion:Strong Buy
Price:7.125
View Thread (4)
Thought for the weekend 3
Today 01:48
Guys
Last thought for the weekend £ back in 2015 we gave away 78% of the profits in PM for $28M. What this meant in real terms was any profit made was shared as follows:
Petrovis 50.15% of 22% = 11.03% Rest of the shareholders 10.97% of the profits.

As a result of the deal announced the situation is (with admittedly a few guesses thrown in) this:
a) 519,845,881 shares in circulation = 100%
b) 260,702,709 shares with Petrovis = 50.15%
c) 127,420,294 shares with institutional investors = 24.5%
d) 131,722,878 free shares = 25.34%

Based on the above instead of getting 10.97% of the profits the free shares will be due 25.34% of the profits ( yes after tax, after deductions , repayment of past losses etc etc) but we as shareholders are I think unless there is something wrong with my numbers in a much better position.

So bottom line I think Mike has done the right thing and people need to give him credit for what he has done which is increase the share of profits to be retained by the shareholders and potentially although there is a dilution in shares now he has paved th way for a very good return in the not too distant future.

No partners, no Bergen and complete control over what PM are doing and when.

Sorry guys I fail to see how this can be bad for us either short or long term.

Last thought if we don£t hit oil and we have a farm-in partner £ we loose. If we don£t hit oil in the current situation we loose!

Personally I would rather leave Mike and Co to it and let£s hope they know what they are doing and can produce the goods!

Great weekend all!. Sun shining here so can£t complain

ATB D1nger, MrP OJ, Ham 123 et al.
2010PM
Posts: 655
Off Topic
Opinion:Strong Buy
Price:7.125
erata
Today 01:43
too quick 30 days
2010PM
Posts: 655
Observation
Opinion:Strong Buy
Price:7.125
View Thread (4)
RE: Thought for the wekend 2.
Today 01:43
Guys

Drilling is normally around days per well based on the depth they are aiming for allow 5 days for rig move/set-up this then means a mid to end August worst case early September completion. Incidentally they have also intimated block XX wells will not be the same rig.

DYOR but IMO
JohnnyB.Goode
Posts: 963
Off Topic
Opinion:No Opinion
Price:7.125
View Thread (2)
RE: Thought for the wekend 2.
Today 01:42
The drilling programme will consist of up to two wells in Blocks IV and V in Western Mongolia and two wells in Block XX, immediately adjacent to the producing Block XIX

£ The 2018 drilling campaign is planned to target a combined estimated prospective resource of 398mmbo with an expected combined drilling cost of US$15.5 million

£ The Company has contracted a Sinopec drilling rig to undertake the drilling of the two wells in Blocks IV and V, with the spudding of the first prospect anticipated for early May 2018

First in May and says 2 wells max in Blocks IV and V for 2018.
TonyBaby
Posts: 1,212
Off Topic
Opinion:No Opinion
Price:7.125
RE: There really are some ...
Today 01:42
And your point is?
D1nger
Posts: 1,097
Off Topic
Opinion:No Opinion
Price:7.125
View Thread (2)
RE: Thought for the wekend 2.
Today 01:37
First drill strikes oil, then who gives a toss how many they can drill in a year. It's all about the oil, please cease with the pedantics.
maestro1
Posts: 3,817
Off Topic
Opinion:No Opinion
Price:7.125
RE: Thought for the wekend 2.
Today 01:29
They want to drill 4 wells this year, is that really feasible as winter comes quick. Drilling is suppose to commence in May..




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