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Nice one Hertstrader, I was looking at Char at 8.6 and didn’t buy in the end… oh well
Matd would have been £1+ by now if we didn't have some posters and instead we had more die hard ones.
IOHO!
(in ojay humble opinion)
BTW in MATD Ojay usedto trust.
Have a break ojay. Get some coffee.
Enjoy your day guys
Good thing we've got D1nger on this BB (could do very well without some of the other posters).
Nay problen D1nger.
//Oops. Old age I’m afraid. Sorry//
Don't be sorry - we will all be there before PM makes good!
Oops. Old age I’m afraid. Sorry
D1inger -
"17 September 2019
Petro Matad Limited
('Petro Matad' or the 'Company')
Red Deer-1 exploration well results and operational update
Petro Matad Limited, the AIM quoted Mongolian oil explorer, announces the drilling and logging results of the Red Deer-1 exploration well located in the south of Block XX and an operational update for Heron-1 and Gazelle-1 in the north of Block XX, eastern Mongolia.
Red Deer-1 has been drilled with Daton Petroleum Engineering and Oilfield Service LLC's Rig DXZ1 to a total depth of 2000 metres. No hydrocarbon bearing zones were identified during drilling and this has been confirmed with wireline logs. The well will therefore be plugged and abandoned."
Haven’t drilled red deer yet. Snow leopard and wild horse were the two drilled before Heron on blocks Iv and V
That seems awkward, hope for his sake that share price increases or RNS released!
How are you typing ?
sold half my CHAR and bought 444199 shares at 3.79 No brainer price and like CHAR I am comfortable holding for more thank a few days!
D1nger - correct me if I'm wrong but I thought Red deer drew a blank!?
Terrier…………sitting on my hands till we can pick up more at 3p
The MM'S have buyers for any chunky sell
Smelling an update very soon
Sit on your hands.
Yeah there should definitely be operational update this month, fingers crossed for good news…
Be good to get an update this week MB….. we must be almost there?
Ok. Had a drink, and some time to go over previous RNS releases just to clarify block XX and the confusion that Petro China are drinking from the same pool.
My understanding is that although there are potentially billions of barrels of oil in the Toson Uul basin,
it is not contained in the one big pool. That is why The Heron oil field is referred to as a structure.
Now I bet many of you didn’t know that contained in the block XX exploitation licence area are a number of different structures. Some of you may have heard of the Gazelle prospect but there are others called Antelope and as some may recall, Red deer.
Red Deer has an actual estimate of 3 times the size of Heron.
The section of the Toson Uul basin contained in Petro China’s area is widely estimated to have 2bn barrels of oil. They have access to roughly 40% of the basin.
Our portion of the Toson Uul basin is 60% and if the oil is evenly distributed throughout the basin we may have access to 3bn barrels of oil.
I don’t think Hamm’s option 5 scenario would happen as the major oil distributor in Mongolia is our founder and majority shareholder Petrovis.
Keep the faith and maybe at some time in the future we will be able to repeat the words of Hyman Roth in The Godfather II, ‘Michael, we’re bigger than US Steel.’
Enjoy the rest of your weekend
Option 6 (my attempt at humour) probably concludes the list of options...
yeah.... but what about options 7, 8 an d 9..... you gotta love a troll or 3
Or option 6 the world could end....?!
Its up to us to determine the remoteness or likelihood of each scenario. Reading the RNSs and other information and undertaking a PESTLE analysis helps.
Option 5, the worst case is if MATD leaving the market!
ATC did that. They left the market. They are making millions but not a penny for shareholders and CEO and the co are the majority shareholders. Hope MATD/MB will not be like CEO of ATC mr Best!
C&C - there is a 4th option (which we all hope doesn't materialise) which is that Heron proves to be far less productive than anticipated.
I assume "beautiful news" would mean anything in contradiction to what you've previously posted.
Good to know that you've changed your mind. I for one would like your hopes come true.
There is no secured drilling slot. That is the problem.
The contractor is too busy to find any slot this year but they are after a series of drilling contracts with MATD.
It doesn't make sense.
I am very suspicious with Chinese contractors.
MB needs to have other contractors on board or we miss another precious year.
Honestly MB should go back to Mongolia. He needs to be present and active.
Ibiza. T he only news available to any of us is that found within the RNS of 25/02/22 and the Investor conference but by way of summary my understanding is this:
1. MTAD has received a joint working proposal from DQE, they have responded and are awaiting a counter response or agreement early Q2 - which would be April. that doesn't mean it will be a settled issues in Aoril.
2. At the same time (but probably a back foot option due to point 1. they have secured a drilling slot for a 2 week workover but are waiting on the actual dates within this year's drilling schedule. Obvioulsy if Option 1 is going nowhere this needs to be acted upon.
Successful outcomes on 1 or 2 will be transformational game changers. However there is still the risk of a 3rd option albeit small, that the DQE proposal doesn't materialise into anything concrete and MATD are also squeezed out of this year's drilling schedule. If this is so then of course they should pull out all stops to secure alternatives but ultimately could result in another year's wait and, of course, if this series of events happens the share price will drop. It is the potential risk of outcome 3 occurring and also the lack of current news (albeit not overdue news) on outcomes 1 and 2 that is dragging on the share price. currently...
Therefore it all depends on how we personally view the likely outcomes and the subsequent risk/rewards of these 3 outcomes that determine our position.
All in my own opinion of course.