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It is possible that this mornings sells are the seller finally clearing as the MMs wouldn’t let you buy hardly any at 8.3p then ticked it straight back up again, when I seller clears you see a big blow out then the price soars so let’s hope this is them finally clearing and we can get back above 10p and get some positive news
This could get very messy indeed if stop losses start to get hit, another big seller around today wants out, something not right and the lack of an update is a big concern now a delay on XX will send us back to 7p unfortunately we need news
2010, I'm sure rig inspection would be first order of business, considering last year's Sinopec situation.
You have a point about Matad's comms, they release "market moving" info all at once vs. as it happens and that's the problem
Yep, they see a date in an RNS and straight away use this as ammo to their strategy to ramp/de-ramp (text book).
We know discussions were running smoothly with Petro China, this is one bit of news we are sure of that won't be delayed. The rig is available throughout Q3. They plan to start spud late Q3/ early Q4 therefore site prep must commence no later than the start of September. I suspect we have already finalised the contract and MB is collating an operational update on multiple fronts as we speak. We are 31 days into drilling so by next week I expect we will have completed logging and evaluation of results for the first main zone. Wrap up of site prep for WH can also be included. Even with positive news I don't expect anything Wrt a farm-in partner at this early stage.
Captain - I hate to admit it but you may have a point. The rigs on Block XIX may well be acceptable to the the Chinese as they are but they may need an upgrade for PM. That being the case, although it wont be anything like the upgrade needed for SL/WH although it may take a few weeks.
That said if you read RNS 3298S dated 25/06/18 is says "The selected rig is in country, is operating close to Block XX and is available from Q3 2018. Permitting for drilling is progressing and the first well, on the Gazelle prospect, is planned to spud in late Q3 or early Q4 2018. "
To me late Q3 is end of September and early Q4 is October so I dont think the rig contract is so important as such as to me they potentially can run for another to 7 weeks and still meet their target.
Possibly waiting for permitting to be completed and then we get a single announcement confirming pud date.
MB seems to dislike interim PR releases and so I suspect we may get one only on SL and one at the start of Gazelle.
Difference being Petro China has drilled 100's of wells and rigs were available per M.Buck interview. Peteo China also been operating in Mongolia for several years.
So I find the comparison with Sinopec to be like apples and oranges.
With his daily moan about the Matd bod and block xx news being late, and how as a holder he’s getting worried and concerned. A holder, yeah right. Come on, don’t disappoint us! You will know when fundy buys back in as he will talk about the huge billion barrel potential here. Oddly he hasn’t been mentioning the potential here for a while, tut tut!
Before Fundy posts from his mental institution about Block XX, everyone should remember Snow Leopard was due to spud September 15 last year before Sinopec rig troubles. Snow Leopard is a 70 day we'll, whereas two drills in XX is 30-40 days with mobilization, given how shallow they are.
Continue to believe commercial negotiations are being finalized, foolish to sell on hysterical delay rumors by Fundy
Hi, Terryali. Glad to hear from you and thanks for post. Its really great that both of us have absolutely the same impression about our CEO after meeting with him. Just after few minutes of Mike's presentation the details of his plan, it became clear that in front of us wasn't just a top professional. But the only one who must be on that position and no one else, isn't it? Of course we all humans and there is always could be some naivety or even exaggerated perception of everything then seen and heard. But I strongly believe that Mike was somehow miraculously chosen for this mission and he will discover the oil and gas wealth of Mongolia. And will become for the country and for all investors of PM around the globe one of the most outstanding CEO. ATB to you, my friend and see you soon at our £1+ party.
I see lot of catalysts in coming months with news due on Multiple fronts. We will soon be entering a very exciting period of potentially simultaneous drills in both Wild Horse and Gazelle (Block XX). Positive update from Snow Leopard will just be the 'Jump start' thus need to motor ahead.
Wild Horse is a beast with mid-case estimates revised up to 490MMbo from 290MMbo. Upside case stands at 750MMbo.
490MMbo is just from one well. Many other oil explorers on AIM do not even have 1/10 of the 490MMbo prospect. MATD has all at 100% ownership.
Look forward to next Operational Update soon OR discovery RNS from SL whichever comes first.
Terryali,nice post,thanks,oh I have the faith,I have searched and searched,and yes BGG had a great faith in ives, snow leopard, just a question of time,and tick tock,its not far away,Im sure some will be caught out,but it won't be me.