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If we go by PM's guide of 40 days to TD of 3050m it will be an average of around 76m a day and take us to August 27th, but as DQE reckon it'll take around 21 days as they have done similar drills previously, TD will average 145m a day that'll take us to August 9th. So say there are no mishaps or catastrophic disasters what's the chances of getting any sniff of results sooner rather than later? Plus with spudding of second site by end of July, double bubble, what's not to like about this drilling campaign. This is getting really exciting now. Day 2 "38" to go (maybe) and counting. GLA.
I think the point is made Victor, this share probably won't be too interesting now either way until drill result, or early sniff of oil. As you note from previous drills no spike on spud, sideways movement until result. Good in my opinion, either the brave will be rewarded for early commitment or losses minimised because there are other drills following up. I like the prospects here but there's little for traders to capitalise on between now and results, gotta be in it to win it.
Here we go! My congratulations to all Matadors and my big thanks to our CEO for such a great and on-time news. I have expected to get it today and glad of being right. Now I am wishing GL to all of us in winning of our very first battle for oil at Heron.
Interesting what kind of nonsense will write now all of negativity spreaders here and specially the author of this odd sentence: "Meanwhile, I certainly hope they strike oil - the only chance of raising this SP".
Meanwhile, I certainly do not hope that such a nonsense will ever stop appear here. Its looks like that some persons do not even know that SP is falling or rising independently if there is oil strike or not. Not saying that Matad's SP has been risen already countless times. And thanks to such an incredible SP rises some investors have managed to become much richer without of any oil strike.
The days when you could buy a share in a oil exploration company and double your money before spud are long gone ,nothing is guaranteed in this game the market constantly changes ,but this is one of the best chances this year ,as far as I can find out ,there is no other company with a 75 percent chance of finding oil, and there is a good chance it will be in commercial quantities !
Has happened to this chat board today??? Seems today's announcements have turned it into a free for all bickering and ****ging off event, almost makes me think it would've been a better place without them been announced but as it was price sensitive information it had to be and it was what I though everyone was waiting for, how wrong I seemed to be yet again. I think we should be focusing on what is happening in the next few weeks and not mine is bigger than yours mentality. What pleasure is gained from it? It used to be a pleasant place for chatting!! . I think I'll just stick with my countdown till results for the next 39 days. I'm always open minded to differing opinions and dont use the filter as I like to see both sides of any story so on that note GLA
Meanwhile Victor is desperately trying to be scientific about the present opportunities. Nice try to express that you "certainly hope they strike oil". Can't fool everybody on this board - other than your deramper followers.
Not sure who this rather challenging statement was aimed at but personally I've invested to see what the outcome of the drill is. Again no idea who the 'everyone' waiting for the so called hordes to arrive are but again I have no interest other than outce of the drill
The SP didn’t rise last year on the spud of either Snow Leopard or the “beast” Wild Horse. What makes you think that it is going to be different this year ? Everyone was waiting for the “hordes” to come clutching their money upon spud news - didn’t happen and not happening again.
The only thing that will drive this up is an oil discovery.
8.6p hadn't we received today's great news. That's what you - PM - get for your efforts to address the interests of the market! Not a lot of sound rationale around here (on AIM). I for one am confident that the savvy investors are familiar with this situation and will take advantage of it - and today's sellers will be kicking themselves! The volume is higher than usual but still not extraordinary. That leads me to think that this is just an over-reaction by those sellers who were waiting to bail out "at the best point". They will all be disappointed - even before Heron 1 strikes oil.
This appears to have all the hallmarks of a manipulated shorters game. Few shorters get together, do a massive sell off early morning as soon as news is announced. This is in order to start a news downtrend. But it looks not to have worked as there are a lot of buyers for all those that were sold in the morning. HOLD tight and you will be in the blue again come Monday or 2-3 days after. BanDit
I agree - the 2 news items that are coming up will be: 1. Spud of the second well - maybe by the end of next week - don't anticipate a huge hike here is any as that is 35 days away. 2. End of August, when Heron is revealed! I would expect it to creep up in the next few weeks in the run up to this - maybe up to 11p or so in the run up to Heron's results. But there might be some turbulence in the next week or so -as we've seen today. Have a good weekend.
Definition of idiocy: to sing a song without knowing a single word or even melody, trying to read a book being illiterate and writing comments here having no knowledge about the the company.
As many of us, I have expected to receive some news from the BOD today and do not know why they didn't. However I have no doubts that everything is passing in accordance of plan or just a bit out of it. Taking in account the scale of preparation of the works which have to be done. But even if so, it can't cause any problem and the news may come in any day next week.