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“also the update on the progress of the LP this share should really soar on the market today”
N1, what progress has been made on the LP since the last operational update? They were submitting to other ministries for their comments. And we are still waiting for their comments?!
Our current Mcap Cira £50m will be petty cash if all goes well... Come on MB you can do it ...we have waited long enough!
2 be honest I can't see this doing much to shareprice until end of June on anticipation. WOS is obviously inexperienced in aim. I remember when I was like that once before aim kicked the sh%^£ out of me
Well Chaps.... its Game on!
30 days approx to target depth.... if all goes to plan and we have 200 million barrels of Mean Prospective Recoverable Resource that's a massive lump for little old MATD... Surely 20-25p just for starters if its a success??
With Today's RNS whichic was very positive regarding the spud and also the update on the progress of the LP this share should really soar on the market today,hopefully will get back to at least where it was at a few weeks ago.
Within 4 weeks there's a 20% chance we won't care about Heron certification.
Or after 4 weeks an over 95% chance that a Velociraptor duster won't matter because we'll get the Heron go-ahead.
Both would be nice of course.
WOS - how can you possibly say BOOOM to this RNS?
These two RNS below show that there has been zero progress in more than 3 weeks. We’re still waiting for the other ministries to get back with their comments, never mind them even being submitted yet! Use your eyes to read and see the logic and not owl brain. This is a very slow process and September is a valid estimate for LP!
22/05: “they are repeating the step of asking all other ministries for comments after which we expect they will make the submission.”
14/06: “and has submitted the documentation to all other government ministries for comment prior to submission to Cabinet.”
I expect SP to fall today. We and the market knew spud was due. It will be disappointed at the continued LP delays.
BP please don't it conjures up this image of you shirtless :-)
It's been a long wait but I'm finally going to see if it's been worth it. Good luck everyone let's hope it's a successful outcome. 😁
And so it begins!
The Raptor trend will change everything if successful.
GLA
Should get to 10p real soon in anticipation of V1 results. arrival of Lp will add $$$ to the sp.
BOOOOOOOOM (I wait for that ;))
Special Certifucation submission all prepare & go to other Ministry for comment. Do not see any change from before where MMHI ready to submit to Cabinet after this process.
Look like could see submission to next week Cabinet Meeting for signing but at least have SECURITY will be BEFORE V1 result in about 5-6 week.
V1 drill start now on potential "COMPANY and COUNTRY MAKING" drill. With excellent source rock & PROVEN WORKING PETROLEUM SYSTEM"
All system go for SP rise now & have see how fast it breakout before.
Think MEGA RNS come with Special Certification next few week.
BOOOOOOOM deserve :)
All as planned.. it’s good.
Unfortunately no progress on LP
Spud of the Velociraptor-1 Exploration Well
Petro Matad Limited (AIM:MATD), the AIM quoted Mongolian oil company, is pleased to announce that the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia spudded on 13 June. The well is the first on the Raptor Trend of prospects located 7km south of the Snow Leopard-1 well drilled in 2018 that proved a working petroleum system in the Taats Basin. Velociraptor-1 is targeting an inversion anticline prospect estimated to have 200 million barrels (MMbo) of Mean Prospective Recoverable Resource potential and is planned to drill to a total depth ("TD") of circa 1,500 metres. The well is expected to take circa 30 days to reach TD and encouraging results in the Velociraptor prospect would significantly de-risk two adjacent prospects on the Raptor Trend which together have Mean Prospective Recoverable Resource potential of an additional 375 MMbo.
Block XX Exploitation Licence
On Block XX, the Ministry of Construction and Urban Development has completed its internal work on the certification of the Company's Exploitation Area as special purpose land and has submitted the documentation to all other government ministries for comment prior to submission to Cabinet. We continue to press the relevant authorities to conclude this process.
Spud Rns out
You're right - that's much better. I'll put my shirt on it!
BP correction. 4/1 gamble = 20%
Should have V1 spud RNS this week or very LATEST early next week.
Cabinet Meeting today with 23 topic to discuss. Could be signing today.
When people say "will be Sept" or other month this is just made up by poster with NO logic.
One who say will be done few month ago use right LOGIC and would have been correct but Ministry jurisdiction change to protect shareholder but MMHI was READY TO SUBMIT.
This tell you very clearly one who did say Sept use wrong logic & did hope for lucky guess with month he just take from bottom maybe lol
We look at time to prepare documentation before and see if same time (this is most logical) document should be ready for submission about now (also seperate Ministry opinion should be same).
Maybe Special Certifucation under Project of National Importance will be sign at today Cabinet Meeting. Maybe one next week BUT logic tell us will be VERY soon.
V1 result in about 5-6 week so expect Special Certification for Block XX before this.
One who say but "logic not work" then do not use logic. With so high multiple rise we expect here will not take risk of not having MATD stock.
Also New Block news we expect because 22 May RNS say fiscal term & condition already agree.
Buy or not who care your choice but be Happy :)
//These Mongols are taking us for a ride. Blind leading the partially sighted..//
I think the MG know very well what they are doing and are happy to play the "long game" knowing they have oil for their own use. The idea that they would want to profit from exporting Heron oil in the short term is misguided IMV so they will string PM along for the foreseeable. The LP (or not) & substantial income for PM from Heron is pie in the sky and another cash raise is inevitable. Maybe a bit of a rise in the SP up to V1 spud then it's a 5/1 gamble on the result. Be happy, hoot hoot.
Michu guilty of being caught with pant(s) down here recently..
...but still only feels to me like a poster Richard SmallWood versus poster Brazil bum bum occurrence
Not overly concerned - yet, at least - about having a small bet in play only here right now...
Such a volatile and punk share, this one..
who knows really..
These Mongols are taking us for a ride. Blind leading the partially sighted..
Its madness that they are making laws up and not knowing exactly what to do.
PM has turned in to a guinea pig
I am not quite sure why this has to be discussed at cabinet level. I thought it had been decided and signed off by Minister in Charge now MMHI or am i missing something here.