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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
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
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.
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.
Last part which I think is a interesting as gives a view of why DST v Other tests -
Generally, the DST test takes more time than MDT, e.g. 30 days vs 5 days, or 7 days vs 2 days. In order to book resource estimates and to support investment decisions, DST data is a must, but RCI/MDTRCI is the first step. The decision on which test to use is driven by the test objectives, the well type and environment, costs and the regulatory requirements."
Hope this is interesting - I think ar=t least it gives a feel of what needs to be done.
GLA - ATB
Formation Test, Repeat Formation Test (RFT),
Reservoir Characterization Instrument™ (RCI™)
Modular Formation Dynamics Tester™ (MDT™)
all are formation tester and sampling tools that measure the formation pressure vs depth at various points in the open hole using a wire-line, as well as collecting fluid samples. Once the tool is run in to the well on a wire-line and sealed against the wellbore by opening the valve, fluids are flown into the sample chamber. During the flow, reservoir pressure data is recorded, which allows calculating the permeability (ability of the liquids to flow through the rock) of the formation. Liquids that are inside the tool are brought to the surface for further analysis for assessing their chemical and physical properties. RCI/MDT are more advanced options of RFT, providing more accurate data and less contaminated samples. In tandem with other tools, a number of more detailed and real-time data collection and analysis methods can be conducted. One of the key drivers to use this test is that there is an indication that the reservoir could be compartmentalized, and to understand if a full DST test is required.
Key benefits are:
Measures initial reservoir pressure
Identifies the type of fluids inside the rock
Determines fluids contact
Collects samples at the reservoir conditions
Records and measures any vertical communication between the layers
Allows real-time fluid analysis
Guys - this may help people understand the process
"Drill Stem Test (DST) is a process that tests pressure, permeability and the production potential of a productive zone, while the drill string (i.e. drill pipe and other assembly) is in the well, by temporarily completing the well. A special packer type tool is used to isolate a section of the well during the well test. Also, a shut-in tool is lowered in to the well, which provides full control and allows opening and closing of the well. Pressure and temperature gauges are installed on a DST assembly. Primarily used in an open-well environment and during exploration, during the DST test, fluids are produced through a hollow in the drill pipe all the way up to the surface, where special equipment is mobilized for well-testing operations (aka a Surface Well Test).
Sometimes, companies may test down-hole only and produce only the volume of liquids that the hollow structure and volume of the drill string can accommodate. In most cases, this is done for environmental and safety reasons and is called a closed-chamber test or a non-flowing to the surface test.
Generally, a DST test is conducted in stages, i.e. a flow period between 5 minutes and 2 hours, then a period of time to build up the flow in order to understand the pressure behaviour, followed by a longer flow period (up to 3 days) to pick up the trends in the flow and its stability. Once the DST test is completed, the fluid sample, data on the pressure behaviour and hydrodynamics, the formation properties and the flow rates are available for further analysis. DST tests can be classed as: 1) flowing to the surface and 2) closed-chamber tests (non-flowing). Sometimes, a longer test, called an Extended Well Test, is conducted to better understand the field.
The benefits are:
Measure average and static reservoir pressure
Allows calculation of well productivity
Identifies reservoir boundary and drainage radius
Identifying information on the shape, size and geological complexity of the reservoir
More accurate reliable in reserves definition"
Good luck all - article on the web.
....and MB said we will drill WH not because you said so but because we want to. Guys not too long to get the result. Patience.
Intriguing weeks ahead.
BG loved Snow Leopard and was their chosen location when they farmed In. Shell loves Wild Horse....and told Mike Buck..."make sure you drill Wild Horse".... Things about to heat up here in coming days & weeks.
ARhim,I'm with you,like your handle on Matad
There are two schools of though here, supporting the duster theory:
1) those who sold at 9.? and waiting to go back again, this is the group of short term traders.
2) those who think wild horse will be a major find. they wish Snow Leopard to be a duster to allow them to get in at
a low price.
The fact is the time is passing by and no sign of a duster. the AGM is just 3 weeks away and with it the snow leopard is in its final stage. a major shift up in sp will happen before WH is finished. an RNS will drop any time now.
buy and hold
50 days past and nothing,then chances of a duster diminish,as Mike says in RNS they will RNS on TD,so only complication is how to report a find,leave till fully tested,or use SPCO,s method report exactly what they see,but time has passed and lessons learned,leave report till tested,
Just to say that this drill has a one in five chance of success ONLY if it is certain that one of the five will be successful.
I don’t know what the probability is otherwise.
One may wonder why some posters keep saying that SL is a duster?
Guys surely MB and his team are savvy enough to spend 7m for driling. If they thought the chance was low they wouldn't spend it. It is a seriously good buy now anyway to get in or top up. Just imagine the time when RNS mentioning oil which is a matter of time. Then boom ££££££
Have a great evening guys.
irrespective of whether the SL drill is a "big hit" or not. Same goes for WH. These drills - if they should actually don't turn out to be "gushers" - will deliver huge amounts of valuable information to PM which will enable them to get closer and closer to the hot spots.
Clearly, the short term investors will be chickening out if their punt investment doesn't turn out to be a bull's eye. For LTHs it's important to know that PM will continue to pursue it's announced drilling program thru to first half of 2019.
It's fair to say that the COS regarding all 6 drills is very high. And it will only take a single strike to make PM's SP rocket.
To your (and my) success!
Seems to me a bit of a no-brainer this one (if you're playing the odds)
This drill has a 1 in 5 chance of commercial strike...so any gambler is really pushing the odds.
Chances are overwhelmingly it'll be a miss, so sit it out, wait for the miss RNS, share price plunges to 4-6p, then you get in for the bigger drills. Bound to rise after this one.
Have done a report on another explora hitting oil. Turns out oil in the ground value is 5$/£3.89 for discoveries about 150m barrels. For bigger oil discoveries 400million barrels is 7$/£5.45 a barrel. We are drilling for 850m barrels of oil. Snow leopard 90million barrels ☆ Wild Horse 490 million barrels Red deer 48 million barrels Gazelle 13 million barrels. ☆ Fox 200 million barrels Based on 5$ a barrel. Gives us a share price of £5 a share.