We chatted to IronRidge Resources' CEO Vincent Mascolo who explains why the company has become a lithium explorer. Watch the video here.
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And its a very good point about the appraisal well being ready at Wild Horse..........Wild Horse-1 is to be spudded very soon and Wild Horse-2 is already planned and permitted...............
So the moment they discover oil they can move on with appraisal.
Now Snow Leopard there was never an appraisal planned............that shows the internal confidence difference between WH-1 and SL-1.
SL-1 nothing was planned.
WH-1 they are already planning and permitting an appraisal well, WH-2.
All very interesting................ especially as the rig is going to be sat at Wild Horse over winter waiting for the drilling season to start in April.
Just listen the audio.......
And looking forward to the link the rig spec.........that will be excellent.
fundy, keep on pushing your negative slant.
As you are well aware..........it was BG who farmed in and when Shell purchased BG they cut a lot of countries where BG were working as they wanted to focus on core, not wildcat new country.
That is why Shell have put into the contract a clause that if MATD farm out Blocks IV and V they must pay Shell 5m US$.............therefore giving Shell a clear 5m US$ head start over any competition. Why did they do that ? Because they are HIGHLY interested in Block IV in particular and will consider a country entry into Mongolia IF Wild Horse-1 strikes oil.
They are not going to enter unless there is an oil discovery. Thats why they cut Mongolia in the first place when they purchased BG........they are not interested in wild cat in a new country. They are very interested though in a big find in a new country.
Can you send me the link on google to where I can see the rig is not semi-winterized.....thanks. Looking forward to it. We all know its not fully winterised. Does the google link have the operating spec that it can work down to. Really looking forward to the link.
Proselenes is this the same Shell that cancelled the previous farm in deal and had to pay $15m to cancel it? So what your saying is they paid $15m to cancel the deal yet if Matd hit oil they will pay much more to arrange a new deal. I have never heard anything so ridiculous in all my life if Shell wanted Mongolian oil they wouldn’t have cancelled the deal would they. Cheers for pointing out the rigs are semi winterised, if you google the rig you can see it’s not semi winterised at all
And as per the audio in the link below.........Shell have already said they are willing to pay a hell of a lot more money to farm in to Blocks IV and V after a discovery................... They are watching Wild Horse-1........and if we strike oil, expect a farm in over winter.
So all those selling in the event of an oil strike and big rise, will likely lose out on the bigger rise on a farm in deal.
And with the rig packed and onsite over winter at WH-1 location it would be very easy to drill the appraisal well at WH-1 in April before moving the rig to Fox-1 on the way back to UB.
They have contingency funds.........and can delay Block XX again and use funds from there, only 4m for an appraisal well :) :)
So Shell...........deal in January for XXX million, or deal in May for XXXX million after appraisal...........
The plan is good.............just need to strike some damn oil.
They also want the Winter to do a deal with Shell, if Wild Horse-1 strikes oil.
They can say to Shell, you said you were willing to pay a lot more in the event of oil, well here it is on Block IV. We are going ahead in April to drill Fox-1 in Block V and we are confident that is looking very good.
Want to farm in now............ for XXX million..............or you want to wait for Fox-1 and then again pay even more........
Thats my hope, Wild Horse-1 strikes oil and then during the winter months a great big fat farm out deal..........so the appraisal well they have already permitted at Wild Horse-1 location can be drilled.
Dont forget............again........SL-1 was just on its own.
Wild Horse-1 they have already planned and permitted an appraisal well............so the moment WH-1 strikes oil (fingers crossed) they can move straight to appraisal...........in April ether before or after Fox-1.
Now.........thats the push to Shell..........get in before its appraised, or see the price go from XXX million to XXXX million after appraisal.
I dont trust matd to stick to timeframes.
Will wait till we get the spud RNS before i believe it is going ahead next Month.
If they postpone this drill till next year the SP will plummet so worth the wait.till spud..
Fox Oil worth in the ground £1.15 a share Should that come in. I reckon market will give us 12 - 15p a share on a strike! All to play for people!
Unlikely - they need this well before end of drilling campaign - main reason is they want the winter to review the two sets of drilling logs regardless of the outcome. Again IMO.
Already plugging since earlier last week. The RNS was on Thursday after logging completed and geologists assessment, however the P&A was already in process and AFAIK completed on Friday.
As they are using 60 trucks to shuttle they dont have to full demob the rig, as parts of it are free they can start shuttling them already while the rest of it is taken apart. Thats why I believe they will have the rig on site WH1 on Thursday this week.
Prep work at WH-1 is already under way.
Do you think they have just been sitting around and now said hey, better shoot of to Wild Horse now and start the prep work there then.......... Monday 8th October is my view for spud. Hopefully before then.
Guys Rig down is 3 days max - 3 days travel and then 3 days rig up! The site prep will be done already - the LQ units, offices, storage huts are all part of the move and much of the move will have started as soon as the decision to plug was made. My guess is spud between 4th Oct and 8th Oct. All as always IMO. GLA - champagne still on ice!
Might just move equipment over pospone drilling and leave undercover till spring.
Anywhere from a week to 2 weeks..... research it.....minimum of 3 plugs required (if Mongolia is similar to the rest of the world)....best case they finish late this week.
Lets say another week to deliver all kit to site.... (assuming the roads are unsealed and it takes 2-3 days to cover the 450kms). Then another 10 days to construct the rig and accommodation. They wont be a position to start drilling until mid Oct, even if it takes them 25-30 days to hit TD this looks like a mid / late November date to complete......Oh then add another 7-10 days to plug and demobilise...That's late November peeps
Also blue days are still a long way away, this will continue to drop here until/if we get a confirmed spud for WH which is still 50/50 in my eyes, hopefully they do drill this year but punters won't believe it until it's in black and white due to MATD dreadful record and poor cons
Bonum, could you please inform everyone as to the source of your COS figures as last week it was posted that WH COS was actiallly less than SL, if you are saying that is incorrect then would be interested where you source your info from? Unless of course you are just guessing to suit your ramp?
Over next week or 2 this will rise because of the beast. Size of the prize is massive.nearly 500 million barrels. I remember when pmo hit Mexico there share was 250 million barrels and mkt cap went up 100m. We are targetin doube that 250 million barrels. So we should see at least 200m then we are onshore. Which adds even more value. Still going for +40p added to share price on a strike on wild horse.
Wild Horse is much bigger, with a higher COS than Snow Leopard, and the price leading into & through drilling should reflect that.
We should be at a significantly higher price that the pre-drop level and it looks like we're seeing the start of that build up, with further gains over the coming days.
Good to see blue days back for MATD - the fully funded drills still ake this one of the best O&G investments out there.
As the RNS indicated, they're moving rig etc and preparing to drill Wild Horse - spud RNS should follow shortly and then we'll be targeting a potentialy massive, higher COS resource and as part of the wider, fully funded drill program.
Price to push back up in anticipation for that now!
I'm afraid this won't go anywhere North until an RNS says they are drilling WH.....I can only assume you are hoping for a self fulfilling prophecy with that kind of rhetoric....Wild ill thought out commentary like that puts you in the same category as the handful of true matadors who frequent this board... Please add some constructive, balanced insight or analysis rather than these wild comments......Conversely if they announce a halt to Ops then watch it test further depths as the money leaves this share for more attractive opportunities
Weather is currently very good.
Saikhan-Ovoo is probably a good representation of the WH-1 / SL-1 area for weather.
They are using around 60 trucks and shuttling the 450km distance. Trucking roads are there to use. Shuttling the rig across whilst its being taken apart they should be able to complete in 4 to 5 days so all the rig should be onsite Wild Horse-1 by around Thursday this week imo. The rig up, H&S checks and spud no later than Monday 8th October. Everything has been planned.........trucks will have been on site waiting the moment SL-1 was completed P&A. Prep work already commenced at WH-1 site.
Just phoned the Mongolia number. Spoke to reception who couldn't answer any questions. She told me to email email@example.com for any questions. Who wants to contact them and tell them pr is crap. And they should create a twitter account to keep us updated with photos of the drill rig. Plot photos trucks or anything else that might be of interest to us holders.....
The Share Price looks like it's positioned to reverse and push back Upwards now, especially given the drilling for the massive prospective Wild Horse in the coming days.
The large drop on Thurdsays SL news with a subsequent much smaller circa 3% drop the next day (on a Friday), suggests we may now get a large influx of Buyers, currently on the sidelines, ready to take positions for the rest of the fully funded drill campaign.
Hopefully a significant push back up as we await WH spud RNS.
W H could be another 3 weeks before we spud.
Lots of equipment to be moved by trucks and over 450km away.