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"Matd is effectively the MG golden's child in a favoured position"
What makes you think we're the MGs golden child? Look how long it's taking them to deliver the LP! As I see it, so far it's been MATD and us that have been putting money into Mongolia, but nothing has come back so far.
Rookie.
Quite simply Matd published the results of their extensive surveying of blocks IV and V which contained an estimate of between 9billion and 23billion barrels of oil in place.
Matd had also opened a data room inviting other oil companies to view the data with a view to setting up joint ventures.
Matd’s RNS releases at the time stated that several parties were interested and the excitement of the potential caused the share price to soar.
It could far exceed that period if Velociraptor is successful.
Hope this helps
Why not derisk at 100% profit? Makes perfect sense. LP might not happen and could be a dry well.
If like many of the old regular posters on here you got in at the 2.5p - 4p level or have averaged down to that with the last cheap price fund raise, I can't see why you'd want to derisk at all , given all the game changing news about to flow via RNS after RNS on multiple fronts. Matd is effectively the MG golden's child in a favoured position - and anyway - who sends their heads of departments to an off shore territory off cost of little old UK!!
Yes mr D1nger report estimate pryce 27p WITHOUT Velocirapror and at $70 bbl.
If people think what if V1 dry maybe think if this ;)
Could someone enlightened me, what happened when it rose from 3p to 35p? What was the excitement?
I see this from two way but 1st take priority over 2nd at THIS point.
Point 1 - Momentum build up to & through V1 drill. Price we can expect to be much HIGHER then price today.
Also lot if profit taker from lower entry gone already so any rise from here will be more strong
Also Velocirapror on working petroleum system & "wildcat but better then wildcat prospect"
Also potential "COUNTRY MAKING not just company making"
Also V1 follow quickly by full funded V2
All this limit downside from dry hole & upside massive.
Point 2 - LP can come any time and ALL I duration show we can expect it. Many understand this so will hold onto share if V1 dry and also for follow up V2
But main thing when we talk about situation of no LP by drill result time remember
RISE ON UPTREND HAVE JUST START & spud 15-20 working day away & 30 Day drill. Price will be much higher then & double figure very possible.
With LP see 20p+ because whatever people think have official confirming by RNS so guarantee production revenue /DQE deal everything
Do not see any problems to get LP & Meeting in Isle of Man show how close Givt & Petro Matad are
Just like people talk if breakout before from 3p to 35p think lot will look back at price level like now.
Happy already hold as price carry on uptrend :)
Now that's a proper post!
Thanks, Dinger. Have a great bank holiday weekend!
Possibly worth noting that Petro China bought in to their production sites next to block XX. They agreed a $93 million dollar purchase of SOCO’s 85% working interest in Mongolia with the full amount being paid when 27.8 million barrels are recovered.
We have 100% interest and 60 million barrels recoverable which puts our asset at Heron alone between $200m and $250m for a buy out.
Taking in to account current mcap and exchange rates, a buy out of Heron would be 17p per share at the same deal parameters.
But block XX also has Gazelle and other targets yet to be confirmed so the very minimum price that should be realised currently even if Velociraptor does not deliver should be 20p per share.
Then there is what happens if Velociraptor is successful, and Fox and Phoenix and renewables and new blocks.
Currently 6p? Meh!
Have a great weekend yaks!
Ojay I would def need to derisk my holding if we go into raptor spud with no LP in place if it’s a dry well then the price will tank we have LP I feel it won’t impact the price as bad wildcat wells always worry me
Agree. Far too much going on here with News expected on multiple fronts both domestic and International news (IoM meeting) any day.
PetroMatad in Spotlight now. Will very soon be on the radar of Institutional Investors/ Fund Managers. Watch the price Explode when they come in.
Simply cannot be out of this one this year.
Iamrich. Yes very happy to see a follow up drill planned straight after Velociraptor-1.
V1 targeting 200 MMBO recoverable.
Another 400 MMBO opens up in other raptors and the Fox drill.
Heron-1 Oil production should bring in very healthy Cashflows from their 15 well programme.
Multi-well DQE deal.
Look like around 15-20 trading day before Spud RNS. Mr Mike Buck say will give update BEFORE this on preparation of site & build up.
Have about 3 or 4 Cabinet Meeting before this & other potential RNS news (New Block, Petro Matad/GoM partnership company from Isle of Man update)
Price momentum build up look secure & early seller give better rise to come.
Very confident & happy to hold with Exciting time ahead :)
Fully agree Joe: I hate those financial (exploration) adventures based on hope and high expectations - would rather have oil revenues flow!
Somebody mentioned a while ago that it would be a mistake to drill raptor without the LP. Not something I actually agree with given the exploration deadlines. However given that the IOM meeting took place on 23rd April with photos taken and registrar present, its likely MB goes into the raptor spud knowing exactly what's happening at Heron and its probably something very good.
Really hope lp issues sorted before the spud
BOOOOOOOM only matter of time & Q2 RNS flow will be non stop.
Can see hard breakout sign building so happy already have share :)
Second 'Lucky Fox' well spudded a couple of days ago. Shallow 375ft well expected to take two weeks then on to the third one. With travel time looks likely we will have a rig around the 10/12th of June to drill the raptor. I reckon we will know what happened on the IOM by then as well. Interesting times.
There is plenty of things happening this year before the big season kick-off .
"Responsible mining" day of Khangai region is starting at the "Uurkhachin" complex in Erdenet city.
More than 400 representatives of the government, private sector, non-governmental organizations and civil society are participating in the event. At the event, the policy planning and impact of the mining industry, information on responsible mining, activities of the private sector in the mining industry, and a discussion of the revised draft of the Minerals Law will be organized.
#Organizer: AMEP, Mongolian National Mining Association, Erdenet Mining Corporation SOE
#Co_organizer: Ministry of Mining and Heavy Industry, Ministry of Environment and Tourism, Mineral Resources and Petroleum Authority of Mongolia
[English Below]
"Responsible mining" day in Khangai region continues.
In the first part of the day, "Mining Sector Policy", 8 speakers gave speeches and held a discussion.
Organized by: AMEP, Mongolian National Mining Association, Erdenet Uryab SOE
Co-organizer:
Ministry of Mining and Heavy Industry, Ministry of Environment and Tourism, Ministry of Minerals and Petroleum
***** ***** *****
Misterpositive and that's why I say 15p plus soon as the LP lands this will be atleast 20p on the run to drilling of velociraptor and don't forget the plan is to drill velociraptor 2 straight after so the exploration here is going to be one aggressive and you will see real investors turn up,
We just need to wait for that LP it's all happening just what day is that LP going to land
Around $10-12m cash
Velociraptor-1 drill cost c $1.7m
Heron-1 workover only 2 weeks
Heron field: 15 wells target production 9k barrels
Renewable Energy: 90% Tax credits first 3 years
Double Figures here.... NO BRAINER.
Got to be in it.....to win it.
Cheap tickets will soon be SOLD OUT.
Looks like train scheduled to leave this afternoon.
2pm and this should be back testing 6.50
6.5p 7p 8p think will be no problem with V1 momentum coming days. With LP straight multiple re-rate
Look out for RNS of Petro Matad / Mongol Govt partnership company also ;)
Happy to hold for uptrend & multiple RNS news catalyst :)