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Buy potential..... sell reality.
I am ready to wait until wild horse.
I am not much interesting about Snow Leopard.
Still this price, I am happy..
I will buy more tomorrow....
Have a nice day & good luck matadors...
My congratulations to all of our true Matadors! We have got really great RNS. It is so so surpassed all my expectations that I am feeling myself as an O&G company investor/entrepreneur again and not a gambler. All of us now can be absolutely proud by our decision to invest in Matad. Leaded by Mike it will strike Big oil this year and become one of the most successful and prosperous O&G company in the world. I do not have even a drop of doubts of that and very soon we are going to be not just witnesses but happy creators of such a great success. And do not forget about forthcoming �1+ party before the Snow Leopard well drill and �2+party after that.
all I would say to any punters thinking of taking a position here is don't wait to long...when this gets rolling its full steam ahead...a double bagger within weeks here?...I would certainly think so imho.
At least the permit and rig mobilization is out of the way :-)
I expect people to slow start to take their positions.
It needs to just hit 21p to match the mc of last year, which was on nothing but sentiment but here we are fully funded and making progress on the site....
Agree. Current MCap is a joke for such massive Upside and all ONshore drills.
Block XX appraisal type drills are shallow from memory with much less drill timeframe.
Q3/Q4 guidance is well within the weather window. Besides if you get strike on either Snow Leopard OR upgraded Wild Horse or both, being Basin opener wells, then you looking at 10x Bagger minimum. IMHO.
We all wanted an operational update and is now in hand so we are all fully up to speed on campaign progress Personally, i think this is excellent and reassuring news. Drill is going ahead and site construction is underway. Traders will do whatever but there is no doubt where at £66M MCap this has significant upside potential. Rockhopper now at near £200M MCap. Fully agree Turkish i think there is a little contingency in there (it would seen like Mike Buck understands the market- why because he's totally aligned with shareholders). With respect to its peers the disparity will close and sooner than some people think! Notice the comment about increased interest in the farm in data rooms. Ducks lining up!!
..and with Oil price predicted to keep rising this year, the numbers involved here are pretty mind boggling considering are current Mcap.... saying there is a big upside just don't cut it...its absolutely massive.
reading the RNS again this is brilliant news and might not be as delayed as people think as the visa process might be sorted a little sooner, it's just a worst case scenerio.
''Permitting for the Snow Leopard 1 well has been completed and the notice to mobilise the rig has been issued to Sinopec. The rig and consumable materials are already in Mongolia. Sinopec is now moving logging and cementing units from China and will move all equipment to site once the drill site construction has been completed. Unfortunately, there has been a delay in obtaining foreign worker visas for the Sinopec drilling team and this will likely move the spud of Snow Leopard 1 into July 2018. This will not, however, impact Petro Matad's ability to drill both Snow Leopard and Wild Horse during the 2018 drilling season based on our best estimates of well duration.''
-Delays were always on the cards to save on drilling costs(smart move)
-3D seismics has helped identify the targets better and re-jig the schedule with added resource bonus(smart move)
-site prep is underway and the rig will mobilise once complete which shouldn't take too long.
This is ready to pop real soon as rig mob will happen a lot sooner than July and could be a couple of weeks away putting to bed any fears of this drill not happening.
Yes Bigbench I think with the increased potential oil extraction the first spudding in July the further strengthening of the team AND the continuing discussions with more than one party in the background this going to be really BIG , and the company and the government knows it ,when I don�t know but I�ve certainly got a feeling that little old unpredictable Petromatad About to evolve from a minnow to the big time ,wait for the news ...
Excellent RNS. tiny delay painted by some as a big deal?....really.
Bottom line is MATD is committed to their 2018 drill campaign of 4 fully funded back to back drills. Mick Buck is clear on that. Love the appointment of the 2 veteran geoscientists.
2018 looks finally to be the year with Oil price forecasted to rise even further.
Timing could not be any better as a blessing for all.
Dan Brown - well put. In context, this is a fabulous News Release. Increased estimates; enhanced targets; definitive timetable; new and very experienced professionals on board. 100% for transparency and information. Don't worry about the knockers - that just comes with the territory and you just need to recognize them for what they are. Some new ones and some of the old faces. If a RNS comma was out of place they would seize on that as a disastrous lack of professionalism and worthy of selling your shares. Let the dogs bark while the caravan moves on (to July and on) - as you suggest. Their yelping and whining might gain them a penny or two in the short term, but that is not the larger game here. As most serious investors in MATD recognise.
we know what the weather is like - we can't control it
Board have openly stated were a few weeks behind but still in a position to complete this seasons programme
a resource upgrade is massive - especially with a rising oil price
This area is like Alaska in terms of volume of resource, and with similar weather variants, if they can do it there, they will do it here and when it happens, people owning this resource will cash in
Farm in could be this year, next year but the need for further Seismic Data is a safer way to improve estimates without large quantities of cash required.
Let them get on with there job and revisit in July when we will be finally there, then the doubters will stop doubting and the SP can reflect the true asset value were unlocking
"Funding / Farmout
The farmout process continues and a number of companies remain in active dialogue with management. These potential partners appear to be more willing to fund a strategy where additional seismic is acquired before a drilling campaign is undertaken. Several potential farminees have expressed a clear preference to de-risk certain prospects in the Tugrug basin using 3D seismic and better defining a number of stratigraphic 'leads' that have so far only been identified on 2D seismic data. They may also be better positioned to farm-in once their 2018 exploration budgets have been established, which could occur as early 4Q 2017. The Company remains optimistic with regards to bringing in a farm-in partner, as without exception, every company that has reviewed the opportunity has responded with very enthusiastic comments regarding the hydrocarbon potential of the licences."
I wonder what's going on behind the scenes. The "Fox" would hardly have had a negative impact on potential farm in partners.
Wild Horse is the real prize here IMO. A good result from that will put MATD in the big boys league. Hopefully they will be able to complete the drilling and logging there after Snow Leopard before the weather gets to severe (November), otherwise it will have to wait until next Spring.
Hey guys, wild horse increased from 290 to 490! And that's the mid case estimates, from the new sizmics they must have such a clear and up to date understand of the wild horse target, it's massive to miss, if they hit oil then that's such a company changer, I'm holding for the long run, a delay to June is fine, two drills in the ground at once with 2 more drills in block xx
Tony - I understand your fears - I think though knowing the contracts these guys are operating with Sinopec gave a major issue - which I think will cost them dearly! I suspect every days drlay has s premium attached to it !
So I am actually not too worried about the delay as I suspect PM has recovered some of its costs as a result!
So agree a pain but to me also money in the bank !