Petro Matad Share Chat (MATD)

Oh my, yet another epic cockup! Again, does not surprise me, when will the company get their act together?

Is this more goal post moving or just further evidence of disastrous comms?

"PETRO MATAD (MATD) (mkt. cap. £44.65m @ 8.5p)
Directors own: 5.6%
Wild Horse-1 well, Mongolia (spud 2019) – 100% MATD interest
Resource estimate: total mid-case prospective resource estimate of c. 480 MMBO recoverable
Chance of success: not yet communicated"

Read the DISCLAIMER at the bottom.

This is just a website run someone. Its their personal opinion.

The reason of course they have put 2019 is they want you to sell you shares so they can get the price lower to buy in......................

And people fall for this...........and the negative posters will jump all over it.............. LOL :)

The website is obviously somebody´s hobby and not an official, professional and well funded. Nothing has been confirmed yet. RNS will say in the next week or two I expect.

"Once operations are complete at Snow Leopard, the rig will move to the Wild Horse 1 location, a mobilisation distance of some 450km. The Wild Horse prospect, targeting 480 MMbo of prospective resource, is a large four-way dip and fault bounded closure in the Baatsagaan Basin in Petro Matad's Block IV. The Company has completed all pre-drill formalities for Wild Horse 1, has all the required approvals in hand and has engaged proactively with local stakeholders. A further update will be provided when the well spuds."

Except himself

Well scumraiser, you're certainly not fooling anyone!

My bet here is very small, a lottery ticket if you will. If you size your bets with realistic expectations, it allows for calling things as they are. Whereas many here have bet too much without batting a critical eye, just trusting hope. I'm sure even you, Mike, can admit it was a mistake not reduce your exposure, as the company screwed up one thing after another. For me, the writing was on the wall and I said so.

Thanks MIkeM, Lets wait for the RNS to confirm....Seriously if this is true then a class action should be brought against these jockers

Yes, there is certainly a risk that they run out of time at WH but surely they will have the rig in place and spudded in any case. If the rig is in place and the drill bit turning in October then the SP should increase significantly.

your here because you want cheap shares aren't you Fundraiser222??? Come on just admit it, yesterday you said you won't be posting here until the next RNS but you couldn't help yourself and that's because you're here to spread more fear to achieve your goal because the price is staying around 6p. Am I right??
Can anyone else smell that desperation???

https://upcomingdrills.com/ suggest wild horse spud is in Q1 2019

They reported same for UPl being a q4 drill 2018 , when UPL had advised Q3. UPl then had to issue RNS confirming Q4.

Maybe worth asking mr Buck if he is aware that the spud date is being posted for Q1 2019 which probably means back end Q 1 due to winter

Why EVEN, sit on the sidelines?

Wildone1, why invest in a company you have no trust in? Why buy in before WH if you think the company will screw up and SP falls to SP?

Mike, I think the only hope here is that even Matad can't cockup every solitary milestone they've set for themselves. And hopefully some changes have been made that would allow them to deliver on something. Sadly, if they manage to cockup the WH drill as well, we should fully expect to see Matad in the 3p range.

Mike Buck has had a shocking year tbh surprised he didn’t get the sack at the AGM! Diluted shareholders not once but twice! Cancelled 2 drills already planned for this year, and just reported a duster on the drill he managed to do 3 months later than originally planned. That is what Mike Buck has achieved this year as CEO, all he needs to do now is cancel WH due to harsh winter conditions and he will have a Hatrick of failures, snowing again in Mongolia today -9 tomorrow night ppl need to research how long it takes to deconstruct a rig, to move it in harsh cold weather on terrible track roads, and then build the rig up run the safety checks etc, MIke isn’t fooling anyone imo

Did anyone get a chance to attend the AGM either in person or Virtually? Just interested if anyone managed to fire some pointy questions to BOD on the current performance of the company & their inability to deliver on promises...If not then maybe having your AGM in the middle of bum f*ck nowhere is a good thing when you want to dodge pointed questions from investors...Spainish? anyone else?

I love to see how they would answer.

If they say it is because of the massive potential at WH. Well, the potential would have been bigger at the timebefore SL results were revealed

If they say buying in after SL for a lower entry. Well, there is always a chance for an even lower entry if WH fails

If they say, WH might strike and make a difference. Well, no one can argue the chance of failure is higher than success, just like SL

Mike31...Some lucky or perhaps more experienced investors bought in early after the 6.5p placing, then sold before the SL result playing the odds. Now buying in again to do the same again on WH.

Until we hear otherwise, over two months of drilling season left. Happy to risk a punt for a life changing chance.

Derampers: Nobody want to answer my question why you slanted people for buying in before SL, but practically you lot are doing the same buying in before WH when the 2 wells are similarly close on COS statistically?

You slanted people for taking a chance. If you want a high COS, then why not just sit out until a safer well like Fox or Gazelle?

People are right to question Matad's ability to deliver WH and next year's drills as well. Let's recap the last 6 months, shall we? "Fully funded 4 well drill program." Afraid not, might be only 1 drill and they raised capital again. "Will spud first well in April, I mean May, I mean by end of June." Of course, late again. "We're drilling on 3D!" Wrong again. "Block XX rig contractor secured!" Wrong again. Now we're to believe Matad will deliver WH with winter bearing down without delay? Meanwhile, M.Buck and the boys have not delivered a single milestone on time? And we are to believe the company will deliver 4 drills in 2019 (maybe 5 if/when they cockup WH)? Pardon me if I don't believe what these joker's tell us blindly!

"Unfortunately, there has been a delay in obtaining foreign worker visas for the Sinopec drilling team and this will likely move the spud of Snow Leopard 1 into July 2018. This will not, however, impact Petro Matad’s ability to drill both Snow Leopard and Wild Horse during the 2018 drilling season based on our best estimates of well duration."
https://upcomingdrills.com/2018/05/14/matd-snow-leopard-1-now-expected-to-spud-in-july-2018-wild-horse-prospect-resource-potential-upgraded-from-290mmbo-to-490mmbo-new-prospect-fox-with-200mmbo-resource-potential-has-been-mapped/

Slightly behind schedule but should still be capable of completing Wild Horse before winter season close.
http://www.petromatadgroup.com/wp-content/uploads/2018/06/Company-presentation-June-2018-final.pdf

My strategy here is very simple. Every one of those coming 5 wells if they strike oil is worth far more than the current share price, so you have back up recovery all the way to the final drill.

Wild Horse-1 is massive but very high risk. If it comes off this is going to over 100p in a flash, if it fails and with winter this is going to say 3.5p before recovering next April when drilling season starts and Fox-1 is spudding. So hold the shares over winter and you will see 8p or more in Spring ahead of spudding.

Fox-1 is massive too, but with much reduced risk, the 3D bright spot and local live oil in coring and high correlation of the coring result to seismic gives great confidence.

The good thing here as well is the SL-1 and WH-1 and Fox-1 are all in different basins so there is no relation of any result to any other drill...........completely different systems so you can have 2 dust and 1 strike or 1 dust and 2 strike or all 3 dust.

And then the 3 proposed Block XX appraisal drills are also big in terms of the current share price. So lots of back up.

Wild Horse-1 is worth about 320p a share if it strikes good and is appraised - would push MATD over 100p on the initial news.

Fox-1 is worth about 132p a share, so again initial strike pre-appraisal about 60p a share.

Red Deer-1 is worth about 32p a share and quick into production.

Gazelle-1 is worth about 8.5p a share and quick into production.

AN Other-1 drill too.............is funded.

My average is now 6.9p after buying a bucket yesterday and I will continue to average down in the event of Wild Horse-1 failure on the basis that there is still big upside from Fox-1 (which has all the signs it could be oil due to excellent 3D, bright spot on 3D, a coring well done nearby which had live oils shows and also tied in excellently with the seismic), Should all 3 big ones in Blocks IV and V fail - then you are left with the Block XX drills - all worth more than the current share price and they are in effect appraisal wells with RD-1 and G-1 and the other one.

Yes, this is a puntvestment (you dont put you real investment money here)..........but can you name a better one on AIM ? So much upside potential and so much back up to support the share price on failure.......as there is always another drill to come and no need to raise money as all 6 wells fully funded already thanks to placings earlier this year. After yesterdays buying I now hold 850K MATD and I am very relaxed with that as a punt- but for sure its going to be very exciting on Wild Horse-1 and Fox-1 drill results for sure..........

IMO MATD remains the best stock out there on AIM to put a wedge of your puntvestment money in real shares (not short term crap like spread bets) and just hold and wait through all the drills and ride the downs to get one big up in one of the remaining 5 drills - or at least a small one like G-1 coming in to get you 8.5p a share.

Not even sure they'll drill again this year to be honest. I was sure until xx was cancelled out the blue and after raising again specifically for a faster drill programme.(which hammered the sp in itself)

The logic doesn't go does it...

SL were always viewed as low probability to strike oil, so majority used and justified their reason for waiting on the side lines (which is fine btw, everybody has their own strategy).

Now moving onto Wild Horse. Yes, probability is slightly better, but no one can argue chances of failure is still higher than success. Which in comparison scenarios wise, not much difference compare to SL

Statistically speaking, both wells has more chance of failure over oil. Just because some chooses to buy in earlier and get two shots rather than one SL + WH (statistically doubling your chances in hope of a find), the people bought in earlier are getting battered by so called share prophets

Now going back to whats to come. The so called share prophets are now positioning themselves for WH. I would like to ask the a question.

Question 1: Why buy in WH on low COS just like SL? (Like a few have said, potential doesn't matter if statistically we don't get a find)

Question 2: Or do you guys that sat out of SL think WH will be a commercial strike?

Thanks - I think for the sanity of everyone in cases where someone is talking crap (whether positive or negative - I see both!) if people just throw their own opinion in the mix then let it be that'd be pretty ideal.

I did expect people to say 'ooh look I was right SL was a duster' - and in in all reason nothing wrong with that. But it should not really, for the sake of good discussion have dominated the discussion like it did and become the big point scoring excercise, which again it did.

I've time for anyones opinion, bad or good. Especially if it's backed up with reasoning. The reasoning doesn't even have to be right - I'll listen and I'll take it for its merits. Some people though don't seem able to do that very well and have to counter it.

I also think some people are here for purely the purpose of playing devils advocate, just my opinion but I have seen some faces and thought 'it doesn't matter what you say to this guy, or how you try and justify your position, he is here purely to argue the other side of whatever I say'

it drags the board down a bit. I don't want to try and tell people how to behave online, but at the same time it read badly, really badly and some forums, like gamers forums it's par the course but I didn't expect a board about a fairly serious topic, real business would be like that. That said I could just be being naive, and probably am.

I do wish all well and I do myself think it's great to have a board to discuss things. It shouldn't get personal though.