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Watch the buys come flying in today, when a company is trading 25% below cash in bank value, and has on top of that multi billion acreage potential with 4 wells fully funded for the spring with 3 of those having 50-75% COS and a 200mbl prospect to be drilled on 3d seismic with live oil shows it’s impossible for this not to bag imo £16m mcap is a gift free money imo I bought more this morning and will keep buying anything under cashbin bank value is a bargain
I have had my hopes on WH. That was the main dish. I knew it could fail but never had I thought the SP could come this low. I'd be honest, I thought it would touch 3p on failure before recovering to 5-6p range. With WH failing to deliver, what is left with this company. Not much
Mikey I feel for you & others.....You are starting to see the light with this company...An abysmal track record to say the least. Anyone seriously believing this share price will resurrect before they start drilling in the new year is deluded. As for the 4 wells fully funded - seriously doubt it. MATD blew $9.9M in operational revenue in 2017 before they started drilling so it will be interesting to see their financial position when they produce a half yearly.
Here's where its going - Post Xmas to May a SP of at least 1.2p-1.5p...Then we will see some delays with contracts or permits or some other excuse that will see them delayed in starting to drill. I strongly suspect a further capital raise & further dilution possibly by May or June (if Insto's are stupid enough to buy in).
If they do strike oil then depending on the proven resources it should lift to somewhere in the 20p - 50p range. Further strikes will naturally see a re-rate to a higher position.....That is IF they strike oil.
They have demonstrated that they are not able to interpret data very well. Furthermore to blow Millions of pounds on targeting speculative drills to "prove up" said seismic data is bordering on insanity...All with investors money BTW....They have very good prospects close to producing fields - Why haven't they tackled these first before moving on to other lower COS Targets?...SMH.
Anyway good luck to everyone and hopefully somewhere along this journey you can recover some of your losses
You are right. You win some you lose some but it is all experience. The more you play the more you get to know what will happen next. We all know where this is going.
The spread will increase making it harder for day traders but even though volume will drop the buys will soon start to out number sells.
Those who buy in now will see some sizeable gains. A placement will come next year but imo not before the appraisal drills in XX. The major shareholders will not want to be diluted out of sight and to do a raise now will hit them too hard.
So my view is buy in now, double your money and derisk before the next raise comes along. It will happen.
Agree mannan the bottom is in and those buying at these 2 year low levels now we are fully funded for 4 drills with 50-75% COS will make a killing. I will be adding more first thing in the morning the risk reward is unbelievably good from this low level, those sitting in the sidelines will be paying 3p plus in a few days time as lots of experienced investors are now building large positions here as we saw on Friday with the large buying, faster finger first on Monday morning
Agree Matd is pretty much a guaranteed winner at this price when it’s trading 25% below cash in bank value, with 4 fully funded drills to come in the spring. If you look at the charts Matd has bagged from January for 3 years in a row and it will bag again from this low level, good volume last week and interest building this should easily move up to 3p this week back to cash in bank value alone! Very strong buy
With the pervious drilling in block xx turning out in failure i am not expecting commercial results from 2019 drilling in block xx. An independent revue is required to believe the cos given by Matd, Also Matd trying to make out the Block xx drills are appraisal wells is just pure nonsense. Mongolia is not an oil rich country and this has been proven time after time. It is as clear as day Matd are unable to deliver any form of competence, Where will the SP go after a fox duster? Give it 2 months and this will be nearer to 1.5p, Fell for all long term holders that have seen there money dwindle away in this downward trending company, it is clear that long term is not for AIM, especially in company's that don't generate revenue.
I also agree perhaps the WH estimates were a little to rosy, which in turn raised hopes beyond which were truly attainable. By indicating Shell and the likes of Mackenzie viewed the well holding potential must of had some substance attached, but it's always the COS as an investor that gets my attention, and not speculation and hype.
On the plus side Matad successfully executed the well late into the year, which proved technically the team can deliver.
Hopefully if they get much of the work done in terms of appointing a drilling contractor for block xx, manage immigration and MRPAM, they should be well positioned to get moving late March 2019.
To be very honest, I am very displeased with WH. I mean, where did those guys even get the estimated figure of 4.8 billion Barrels of potential oil and ended up with no oil show. These guys are supposed to be professional.
I understand oil exploration is high risk, but their estimate was way off. It would be more accepting if there were oil shows but not commericial. How would they explain after putting the drill bit only to find rock and sands...
I'm not deramping... I mentioned many times my average is 10p.