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With a cos of 9% for a well in a country only producing 21,000 barrels a day and no major oil companies in the area and with MATD's history of hitting dusters (100% failure rate) I highly doubt it. Add to this no operational update after entering the first and second target zone most likely because of bad results and the large sell off over the past couple of days. Still some uncertainty of completing this drill due to extreme night time temperatures. Matd will need a very positive CPR to move the share price because of the company's past and with a 5/6 month period of inactivity (winter) the share price will only drift South on any rise. High 4p next week? Petro matad is a company that has never produced any revenue so a placing can be expected on sp rise.
Proselenes if this drops to 1.9p then this share will be massively undervalued on both cash held and non-current assets. To me this is a good share to be in because the share has already taken the beating (hence the share price only dropping to 5.5p after SL duster).
If you're going to apply some logic to where this may fall then I'd look at what's left for funding in 2019.
Fox-1 ($9m) Red Deer-1 ($2.9m) Contingency well testing ($0.4m) PSC Costs ($0.9m) G&A ($3.4m) Gazelle ($2.5m) Well 4 ($2.0m)
Total = $20.1m
Non-current assets reported on the 30th June 2018 for exploration and evaluation + property, plant and equipment $15.751m.
Total = $36.851m Total = £28.744m
Over 662,155,749 shares this gives us a share price of 4.34p. The share price was worth 5.1p alone based on total assets after an SL duster and yet we didn't reach this, in fact there as a little sentiment. I believe this is such a good share to be in right now because MB has arranged funding for the next year and the dilution has already happened. The only reason this will be reduced further is if another raising takes place. Personally, I can't see them doing this unless a technical success has been found and a farm-in partner requires a more substantial discovery. If this happens at WH-1 I wouldn't be surprised if they utilised the funding for Fox to appraise WH.
you need to be stripped and laid out in the sun for 2 days/nights but givin plenty of fluids so you don't die,then spanked with a hot greasy spachula because you lie....while we watch it on closed circuit t.v. and see how long it takes you to pass out..from the pain,.all because your a khan and liar who is instrumental in stealing other peoples money
you need to be buried up to your shoulders next to a fire ant hill for 3 days...and then during that time heard to see you begging forgiveness to ones you cones and attempted to khan out of their money,your horrible and lie a lot,thats not acceptable my any means
Each and every oil discovery is different. Different type of oil. Different type of PSC. Different costs.
Firsts things first, Mongolian PSC is among the best in the world.
Companies can claim back the cost of exploration, the cost of development, the cost of extraction and the cost of transport to sell the oil...............everything can be claimed back.
In simple terms if you earn 5K a month in a country where tax and VAT totals 20%, this is much more valuable than in a country where tax and VAT totals 57%.............both are the same size at 5K.......but one is more valuable than the other.
Any oil discovery here, with these PSC terms, is highly valuable.
On a WH-1 duster I would expect the share price to drop to perhaps 1.9p initially, before recovering to around 2.9p before dropped back to the 2p to 2.5 range over December/January..........then start to pick up in February/March to around 3p to 3.5p ahead of the Fox-1 drill in April.
Fox-1 at 200MMBO is worth around 160p a share on an oil discovery and has excellent 3D and bright spot....very good chance of success there.
Success at WH-1........on the Pmean 480MMBO its worth 360p a share after flow test and appraisal............ but that excludes nearly a billion barrels of nearby follow on leads derisked in the success case. Quite simply - if you are holding and WH-1 comes in - I will keep holding as it will grow and grow...........some will try to trade the ups and downs - I will just hold all mine :)
DG1Investor - when Pmo hit Mexico 250m barrels there share , the market cap increased 100m on the strike news, so it was 40p a barrel.
We are targeting 480million barrels wild horse is onshore and oil at higher price now than when Pmo struck.
You got to remember the markets are bent, rigged and crooked. Like to think they would give us 40p a barrel and increase the other potential 250 million barrels from the current 5p a barrel level. We will see.
I’ve only got a few grand in here - small time I guess compared to a lot of you chaps - bought in before SL and then averaged down to circa 7p. If we get the hoped for oil strike what is the general opinion of where the SP could jump to ? 30p or am I under estimating. Duster and I’ll ride it out for next yr drills .
Cannot understand why this share has gone down this week More buys than sales again today. We must get news either in the next two weeks and again taking a hint from the planting of seeds yeterday it will all sound good when they find oil as they are seen to be preserving the environment when they did not know the result. Looking for some hefty gains up until the news is out.If they find oil the shares will soar.Would not want to out of them in the next two weeks
Made the mistake of looking on Twitter... the skidmark is posting away on there as well. *sigh* No shame. Stance and wording changes depending on position. Neither can be trusted. I saw that it was talking about massive gains on another share before ducking out with 10-20% in an hour or 2.
It is frustrating for all investors. So there is no fault to have some nice dream and hope for positive results while waiting. But realistically it is not easy to hit oil in a wild frontier. Get a Bosch metal detector and try to find a joist, metal or cable just within an in inch of the wall then you see the chance of hitting oil at 1000+ depth! Hopfuly 2 weeks max we find the result, gusher £1+ duster around 4p. But I agree with farm in in case of finding oil. Perhaps £200/300 m for %20/30. That would be the real reward guys.
It will certainly be an interesting week next week, the political situation in the UK is affecting prices but if Matd hit 480mbl in Mongolia it will unlock the golden gate to a farm in and investors should be rewarded with a 10 bagger on strike rns, it really is a huge well for Matd and think we will see an update next week