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I am hopeful of news next week, perhaps Monday, perhaps another day. It will take a few days for the mobilisation but first the site has to be ready and maybe that has not been accomplished yet. My opinion is that we should be at least 10p by now, that was the placing price, and the reason the sp fell so far was the long delay in getting block XX drill ready (this was supposed to have done last summer!) and the 2 wild cats which were never planned to be drilled without block XX as a safety net. Once people really do the research and look at the facts it will rise to a sensible price with scope for a bit more as the drilling is nearly upon us. That's why I thought 15p fair value for the end of this month. If we look beyond the success scenarios of Heron adding 18p to the sp, Red Deer 32p and Gazelle 8.5p, we can see that because they can monetised very quickly, and the wells are only costing between $2m and $3m, we will be self funding. That means we can turn our attention to block V where the uplift will be measured in £s, not pence.
Very good thoughts, bonum. The current situation is completely different. And we should not be shackled by fear of all those extremely unpleasant events that we went through in past. Not for that we all went through for to be out of the place and time when will division of a much larger piece of cake will take place, which, if anyone deserves it, then it’s us first of all. And even more so if, as co-owners, we feel and are responsible for our company.
I can see an almighty scramble to get in on Monday with a possible gap up. Especially if there is an RNS with rig mobilisation which is highly likely. Should easily see 8p in first hours trading. Watch out for treeshakes on the way
I bought GKP years ago when there was oil seeping from the ground. The sp was in single digits, 8 or 9p or thereabouts. I stupidly sold at 28p, what a mug! I bought RKH at 35p and sold at £3.80. I bought MATD at a variety of prices from 3 and a bit pence, 4 and a bit and some at 13p last year. I may sell a few around 30p but I am expecting great things with most of my holding. This sort of opportunity is quite rare and I don't want to blow it by selling too early.
Manro, the dilema you refer to in your 22:26 post is an interesting one and perhaps much easier addressed if there was only 1 drill within the current campaign - but we have 4 and 2 of those are 'Appraisal' status with a much higher likelihood of hitting oil.
I'ts one of those immense opportunities that come along sometimes, so from the perspective of my own position, I'm going to look to pick up further Stock next week, cognizant of the expected magnitude of price rise, through the various drilling stages mentioned in previous posts.
That will help facillitate the holding of a much larger stake for actual results from the respective drills.
"A decent rise off the back of todays update see's us break above the daily MA200 for the first time since July 18! There's also an imminent golden cross (MA50 > MA200) on the daily. If the MA200 is confirmed as support then we should be in for some prolonged share price appreciation - obvious targets horizontal resistance at mid 6's and then onto the gap fill in the 7's."My last Matd post from Tuesday aged well. Welcome to the gap fill.
Some have done no research at all...
Company has 4 fully funded drills for 2019 and had $23m cash balance end of Dec'18.
If Block 20 Appraisal wells come in, then they can connect them to existing oil production and transport oil to China using same method deployed by PetroChina for so many years.
Company would be generating healthy cashflow from 2020 onwards from Block 20.
50% farm in from Block V down the road would raise further cash for MATD. So you can forget about ANY Placing.
Company is now in strongest financial position during its entire history. Forget about past issues, 2019 will be transformational year for MATD. Get on board the MATD express now OR keep watching from sidelines and watch price run away. Compared to other oil explorers, MATD is well undervalued given its cash position and Operational road map ahead.
Each to their own. GLA
PS: don't forget to put seat belts on...LoL
Have you missed the train, johnboy_ni? if so, you have a chance to buy a plane ticket and catch our train at next station on Monday morning. It is better to pay a bit extra and catch the train now than wait for dilution via placing and completely lose a great chance.
With momentum now back, would not surprise me if this hits 10p next week.
This got to over 38p back in Feb 2017 ahead of wild cat drills with much weaker financial position at the time.
Granted there were 330m odd shares in issue back then. So on comparative basis 20p could be reached pre Spud given this time MATD is in such strong position financially and drilling 2 Appraisal wells out of 4 drills in 2019.
Strike on any 2 Appraisal wells or both could push this beyond 50p in my opinion, before follow up discovery drills in Heron and Gazelle.
So this time around it could be the real deal.
SuperRoty, I am very glad for you. But, know that literally just few days before spud we all will face a big puzzle and have to decide what to do next. Take a risk of oil strike together with break through 50p +SP level gaining maximum or make less risky decision? I am supporter of less risky option. But not quite sure if I can overcome the persistent self-awareness of myself as an entrepreneur/co-owner of the company and not a trader. Therefore quite possibly I will stay and go with PM to the bitter end. Anyway now its time for bit a rest and I wish all of you nice weekend.
'Iknowthis', we're fully funded for the 4 drill program, so no requirement for further funding in the forseeable future and against a macro-economic backdrop of a robust, sustained oil price.
As far as 'how and when it (the potential) could be released' , you can anticipate a significant share price appreciation as we move through the various stages of drilling - Rig mobilisation, Spudding, Target Depth (TD), logging.....and then ginally the Results.
We've only just started and with tremendous upside potential from current levels. An alternative approach is to await the results of all the drills and Buy in then at the prevailing price.