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A lot coming up for the company this year and looks bright. Regarding the arseholes that have suddenly appeared i thought this was a good reply from a fellow poster to one of them :
Block XX has a very high CoS The first well is an appraisal of a discovery well only 1km away! One successful small drill on XX is worth more than 8p a share. So a few successful wells on Block XX will see a very significant return and a very much higher share price than 6p and I suspect the sp will be a fair bit higher by the time they drill.
I remember I invested in GKP at sub 10p when I read they had oil seepage to the surface, sadly I sold at 28p. Fox has a similar seepage and the oil reserves there could be massive - in your slightly sarcastic post you forgot to mention that. But they have a choice of big targets, you forgot to mention that fact aswell,just quoting the back-up ones that should provide cash flow to enable MATD to drill the bigger. I'd love to see them make a discovery. The odds are reversed though, over 70% chance of success here, over 70% chance of failure there. GLA.
PS On the basis the sp should be around 10 - 12p, if Heron is worth about 8p it is fairly simple to work out where the sp is headed. Add in increments of 8p per successful drill! Any oil can be monetised almost immediately and will be trucked to the refinery. These are reasons this is coming under the spotlight. I have seen posts moaning about MATD's performance a few years ago. This is a totally different beast with a new management.
Good post Mr P . My opinion is we will find our mean resource in the appraisal wells (which aint bad); However well stimulation and production enhancment tech has moved on so who know how the East production will look?
The excitement is in the West (obvious I know) but that is transformational stuff. All to play for. IMHO
All info is in the public domain. People can read and have done their own research.
Back in 2010 they drilled too far away from the source kitchen in Block XX...still had Oil shows but probably was Oil migration issue at the time. Mike Buck said in his London presentation what the post mortem revealed.
They should have drilled further west to where they drilled back in 2010-11....which is where we are drilling now. Reprocessed seismic data confirmed this and clearly shown by the current location of Heron and Gazelle both being Appraisal wells. Heron is less than 1km South of Petrochina producing oil well in Block 19 which has been producing lots of oil for many years from a number of oil wells in Block 19 being trucked to China daily. Current Petrochina production from a cluster of oil wells is about 20,000 barrels daily, having been 25,000 barrels per day at its peak. You can see from London Oil conference presentation, how quickly MATD can monetise these oil wells in Block 20 with only $2m cost per well and very fast payback period.
Just on Oil shows back in 2010, price went up to £2.10 with 5 times less shares in issue back then which would equate to c.42p today on comparative basis.
Massive Upside here...with c.$23m cash and 4 fully funded drills coming in 2019.
If the trolls spent less time de-ramping and more time investing here, they would also reap huge rewards.
Momentum is here and would shift gears in coming weeks. My pre-Spud target here is around 10-12p, whilst it go even higher given the very strong momentum building here.
The work so far has confirmed the mapping of the Heron Prospect (16MMbo mean prospective recoverable resources ("Mean")) and the Gazelle Prospect (13MMbo Mean) and has improved our understanding of the Antelope Prospect (7MMbo Mean). Red deer (48MMbo Mean)
Remember matd have 10 out of 10 dusters to date and the current cap is touching £50m.
Don't think you're late. This is just the beginning of a new dawn here.
MCap in 2017 was £100m when we were drilling wild cats.
These are Appraisal wells with 75% cos...probably higher as 'Heron' looks to be just an extension of Petrochina Block 19 producing oil field...less than 1km to the South.
We drilling so close to existing production...this is as good as it gets in my opinion.
Also for derampers saying 2019 block XX will be dusters too because the previous drills in that area were, have a look at this https://youtu.be/oL9rbvLAjn4 MB says it was because they were too far from source kitchen and they won’t be doing same mistake again
Yeah a lot of derampers have turned up recently but not too good arguments, we are at just 40mil mcap from which half is cash and other assets, under both oversubscribed placings, only heron itself is more $80mil so how can we be overvalued? You say have a look at AAOG but that one looks really dodgy and RMP with no cash and only one 30% wildcat drill ? No thanks
Another 18m trading volume day...
Momentum is here to stay with lot of activity packed for 2019 here with Appraisal wells coming first and then either Fox or Velociraptor...both +200 MMbo each.
Appraisal wells in Block XX seem to be right next to Petrochina producing wells....only the Block boundary separates Blocks 19 and 20.
With 75% cos and quick route to market (China)...MATD has the opportunity to very quickly monetise these wells for good cashflow.....if Petrochina does not Buy Out Block first...