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I see the hindsight specialists are out in force today attempting to impress strangers with posts coming that they've sold once they saw the sp dropping a little, seriously who cares, you're posting to a bb full of strangers you'll never meet. Proper sad cases, good effort to the ones holding with balls, good effort to the ones who've made a profit but in all honesty is anyone really impressed by a stranger telling you they sold yesterday??? nahh didn't think so, why litter a bb you're not invested in and have no positive interest in, that I will never understand?
Excellent posts from our trusted geologist [macd_91]
Intro: I am a fellow investor in MATD from 2016 dipping in and out depending on my view of the reservoir modelling stage and drilling stages of the campaign (av. 4.3p). I don't try to be all knowing like a lot of the self proclaimed know it all's who chime in here, but i know what i know and invest on facts rather than sentiment. The bottom line is; the likely hood of finding oil is very high, its pretty much an appraisal well, the new seismic data and extra reservoir modelling as well as a proven hydrocarbon system make it a very strong investment. (people who state that the companies history indicates its future are either uneducated or just stupid.) Stick to the facts and enjoy the ride.
Seismic/reservoir modelling: What you are looking at in that presentation slide is related to the seismic, however it is actually a topographical representation of the top reservoir. Think of it like a regular topographical land map where you have valleys and mountains. The blue is essentially representing the flanks of a topographical high. The reason this would be picked as a reservoir is because more often than not oil will be found in these structures when a proven petroleum system is present. This isn't always the case however as there needs to be a good top seal to prevent the hydrocarbons escaping, the same with the faulting that has created the structure. Faults can potentially leak, however with proven reservoirs in the area one can assume that most of the faults are sealing in this area due to hydrothermal fluids and shale smear (fluvial sediments often have good inter-bedding with mud which acts as a seal along the faults) taking place during the rifting phase.
COS explanation: COS is a difficult thing to apply, exploration wells have a ceiling on their COS (i can't remember off the top of my head) but it basically limits how you can weigh your drills. Some wells drilled in the north sea have a COS of 25% which is considered very high. As stated if MB has said 1/3 then by all means use that for your risking profile. *Just something to consider before people see it as a very low number/high risk (it naturally skewed to the riskier side inherently).*
They have not as yet made a commercial discovery ( sad emoji) what part of that statement do you not understand? ( inquisitive emoji ) because I understand it perfectly and so do the many thst have lost £££ in previous DUSTERS It is not meant as a deramp - just facts Don't matter whst knowledge gained - its either oil or dust gl all ( willing matd on from the stands emoji ) come on matd
Repeat once again the DH is either dumb or malicious in that he refuses to recognize the major change in PTMTD management with new CEO Buck and his team.To date they have drilled two wells.Shareholders were advised in advance that they were high-risk,high-reward drills. One was a duster.The other while not finding oil revealed new info that led to the identification of Velociprator as an attractive drilling target.There is no evidence of incompetence.Quite the contrary.This is ignored or not understood by posters such as this one. But they will persist.
Based on the latest mapping, the Heron Prospect appears to be the southerly extension of a proven oil-bearing structure drilled by the PetroChina discovery well T19-46-3 in Block XIX. The data indicates that the majority of the structure, including the mapped crest of the trap, lies in Block XX. The previously identified upside potential immediately east of the Heron Prospect has now been confirmed to be part of the same structural trap and this has increased the mean prospective recoverable resource assessment for the Heron Prospect to 25 MMbo. The Heron 1 well location that has been chosen is 1100m from the T19-46-3 discovery well and the primary reservoir targets at Heron 1 are prognosed to be at approximately 2800m, roughly the same depth as they were encountered in the discovery well. Overall, the Heron trap covers 13km and has approximately 800m of vertical relief.
Quote from Mike Buck-“ The chances of finding recoverable oil at Heron is good”, backed up with a 75% cos and next to a proven field for Petro China...
That’s why I’m happy invested, happy with the odds, and will take great joy at watching the fruitcakes fry on results day...
once an oil strike is announced - as some posters have mentioned on this bb - is a straightforward strategy. Clearly, that strategy is designed to avoid the (low) risk - high reward concept the LTHs (like myself) follow. However, not having any shares at the time of the announcement means being forced to buy in an environment where everybody wants to get in. That in itself is price risky and can cost you dearly - but it is nonetheless a strategy. Obviously, high volume buys will be difficult fi not impossible to execute and due to the high SP paid the reward could actually be marginal. But then again: it is nonetheless a strategy. I think I'll stick to mine and accept the (low but existent) risk.
Obviously I am NOT a troll but the facts are this company have only ever struck DUST - now they are trying yet again and hopefully they will strike a GUSHER this time - gl to them and all holders And I will commend the company for their continuing perseverance after many DUSTERS - I expect lesser commited companys would of packed up and called it a day by now - so well done bod. ( clapping hands emoji )