Petro Matad will continue to execute the work program as planned. Currently, our seismic contractor is mobilising to the field and will soon commence the second phase of the planned seismic acquisition programmes in Blocks IV and V. Further financial and operational updates will be issued in due course.
No, they suspended their planned wildcat drilling.
What they were planning was an additional 200km infill 2d seismic data to establish the best sites to carry out the wildcat drilling.
I am hoping that the additional infill data has been concluded and that they are in a position both financially and operationally to move forward independently. With 100% ownership of blocks IV and V, this is extremely positive.
Hopefully the expected RNS will clarify what we are all hoping for.
Didñt they suspend their exploration and restart them in May?
We shall see, it will be nice if they can state the finalised exit fees with the results, who knows. Once they get momentum going with resources they will not have any issue raising funds. Exit fees will be good base to continue with the project.
How many zero's could you add on to that IF Matd issue a statement that they have found a lot of oil.
I keep asking myself surely Matd are going to issue an RNS that is completely underwhelming and all my optimism is unfounded and then I remind myself that their last operational update in February was overwhelmingly optimistic in that they had identified multiple drilling sites and that their research results were exciting.
I can only be positive about the future and I am convinced that… Read More
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.