Petro Matad Share Chat (MATD)

Doesn’t seem an AGM likely place to announce procurement of rig or a farminee - this would be issued in an RNS.

I don't think you're a million miles away. That is a great shout. Mike Buck has confirmed at each interview how conversations with Petro China have run smoothly and all is going to plan. Even in the audio on the 10th July 14 days prior to the RNS confirming the AGM notice we were in the final conversations to finalising a deal. Good post VerbierDave.

The "ordinary" AGM took place on Febr. 15 (as announced on Jan. 24) for the usual purpose of approving accounts etc. for the prior year.
I've always understood this second one to be an "extraordinary" AGM scheduled primarily because of the board changes (Dr. Oyungerel) who is stepping down and needs to be released; possibly a successor will be elected. Clearly, this meeting can be also packed with other news which - understandably - have not yet been communicated. I would expect investors to receive an aGM agenda with all relevant topics subject to resolution about 2 weeks in advance.

If there is oil in SL Block XX doesnt not matter a damn, it can be put on the long finger. It can be drilled in 2020 or whenever. If SL is viable, we've just opened up the whole of western Mongolia for drilling, dozens of more drill in the same basin as SL alone, not to mention the enormous prospect in WH.

I've got a funny feeling that the AGM might be to announce a Farmin on block XX and this is the reason news has been delayed on the rig contract. On the conference call audio MB mentioned a potential farminee taking away data about areas in the south of the licence and when you look at the COS for the XX area it's great if you are one of the Chinese companies involved with either the drilling or production in the next block with capacity in your pipeline for further export.

It wouldn't surprise me if we see a Farmin this year and much larger drilling campaign on the XX licence next year because as MB mentioned in the audio also that they have permits in place for all five drill ready prospects for the XX license thus giving Petro MATAD a quick route to production and income to continue exploration in the other licences with the larger prizes.

These are just my thoughts and I might be a million miles away but would certainly explain why there has been a delay on the rig contract that was being finalised over a month ago.

Quite right SuperRoty and hence the AGM meetings in the past have been held in December end of year. A couple of times this has drifted into the following year within Q1.

There are however additional matters which can be discussed at the AGM killing two birds with one stone to discuss the company's future vision with shareholders hence the tactical date following TD of SL-1. Potential discovery = Farm-In Partner.

Read more: Annual General Meeting (AGM) https://www.investopedia.com/terms/a/agm.asp#ixzz5PO138sd2
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RNS 02 Nov 2009:

“Petro Matad advises that it has suspended operations at its’ DT-1 well site due to winter conditions”..........”A severe cold snap in the on-site weather from 30 Oct - 01 Nov precipitated an operational decision to suspend any commencement of drilling in 2009”.

RNS 03 Dec 2010:

“The DQE international rig and crew have performed remarkably well under the increasingly arduous conditions and this has enabled the Company to extend its’ drilling operational window by well over one month”.

This is why I think news on the procurement of a rig for Block XX is so important. The drilling season could quite possibly be over in just a little over 2 months and we still haven’t heard if they have sourced a rig.

AGM's are usually to approve accounts and resolutions etc. Are there any for thus meeting or is this really an EGM in disguise?

I've always felt that news on Block XX has been held back as leverage for a farm-in on SL & WH.

With the AGM being scheduled, is this AGM going to announce a massive farm-in or the sale of MATD to a major international player??

Filet, the AGM notice in January 2018 I believe accounts for 2017, similarly the AGM notice in January 2016 accounts for 2015. The AGM for the 20th September was initially announced on the 24th July, this date has not changed. Therefore I believe this was deliberately set to take place following the estimated 70 day completion for SL-1 to discuss results. RNS released prior hopefully. The RNS released last Friday was a follow up of the AGM notice.

Interesting to see that this is the second 'Annual' General Meeting this year, when in prior years there have been none (2017, 2015) or only one (2014, 2013, 2012). Is it possible that plans to announce some big news has put a second "annual' meeting on the calendar???.

I made a typo error the 70 days drill time should finish a couple days prior to the AGM.

I assume (and hope) that there will be a RNS update soon. The AGM is scheduled for Sept. 20. Is there any chance PM would want to wait until then to "spill the beans"?
I truly hope it will happen earlier - just a thought.

Agree as I always thought the drilling sequence was Snow Leopard then Wild Horse,

The drill period for original 50 days is nearly up and the 70 days takes us to a few days after the AGM

http://www.petromatadgroup.com/wp-content/uploads/2017/07/2017-Drill-Targets-Petro-Matad.pdf

https://www.energyvoice.com/oilandgas/143773/petro-matad-signs-rig-deal-snow-lepord/

JIMO

Agree 2010PM,

SL was always a bonus drill for me, comes in then great if it don't it'll drop temporarily and will rise in the back of WH.

The beauty of Mate that it's not s one trick pony.

cash2, the original plan was Wildhorse and Falcon and Snow Leopard. As has been said the Falcon prospect looked much smaller on with the latest 3D. With the latest 3D they have found that the new Fox prospect looks excellent and so want to drill Fox-1 but that needs drilling permits applied. So they have simply removed Falcon, put SL-1 first and WH-1 second and will drill Fox in 2019.

I would say its encouraging that SL-1 is first. Listen to the Mike Buck audio again, he says he likes to drill the most promising ones first.........and he is drilling SL-1 and WH-1 first.............. If he could have drill permitting in place I am sure he would drill Fox-1 first........but as he says, needs to get those permits applied now so for sure can drill in 2019.

Snow Leopard-1 was always in the plans (used to be called Irves-1, name changed to Snow Leopard-1)

Still think the jury is out on SL - he may have said it is a favourite as well as for BG, but that does not mean they will strike oil. And if u do read previous RNS, there was a different order for drilling. If anything research backs WH, So no one really knows what will happen at SL.

Why release an RNS about AGM at close of market Friday,why pick doom day,bad news day,especially over bank holiday,I don't like seeing investors loosing money,but would not have been a good time to have shorted the stock,Anyway Mr P,I hope you can add some more tomorrow, because I may if SP doesn't move,Yes that audio was well worth listening to,there is no doubt that Snow Leopard was a BG favorite, and the 20% cos maybe very deceiving,this is my take on things.

2010PM, Awesome posts. Good to have you onboard. Always read your comments with great interest. Learnt so much more about Oil business now. Best wishes. Mr. P

Delboy67, CEO presentation...audio link... It was the audio link from company website under 'Investors' that Mikey30 very kindly pointed out on Saturday. I was not aware of it like many others. Well worth every minute of listening for anyone already invested OR looking to invest in MATD. I will adding some more tomorrow. Provides so much more confidence than ever before. Good luck. Mr. P

"When it rained, the herd are less stressed because animals have a habit of bulking up before the next winter"

Lets hope it rains here so the few regulars like like Bishand, Fundraiser, CaptainStanley can be less stressed too

http://www.petromatadgroup.com/wp-content/uploads/2018/08/SM20180710-presentation.mp3

Not sure if anyone else answered this.

Listen to this, the CEO saying that Snow Leopard-1 was a favorite of BG. (download link below to download the audio which is 10th July Conference Call hosted by Mike Buck.

From 7 minutes in he talks about the 3D and that Snow Leopard-1 replaced Falcon and that it was a favorite of BG.

http://s000.tinyupload.com/?file_id=89956165754865029086

..

Care to share your source for these comments?

Good morning all,

Well next few days are going to really sort the men from the boys in some ways. To me there are a number of options as detailed by others very well:

1) Hang in there - regardless of whether SL is a duster or not - (still dont understand the theory by some that it is ?other than on the law of probabilities!)
2) Sell on a small rise over the next few days and then re-buy hopefully lower at the start of WH.
3) Wait until the result of SL and the result of WH and then buy on the up swing !
4) Move to another board!

To me the easy option is 1) - no hassle - but I fully understand people who have chosen to take the other options.

In short best of luck which ever option you take. The next RNS hopefully covering just block XX will then I think cement a price that is reasonable as the bottom and then I think if all goes well we can reach for the stars!

ATB - Ham, D1nger, OJ, Mr P, Captain, Loz, JND, Ronin, Paul, Manro, and many others. Thanks to all for the great posts.