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Might still turn blue but looking at first thing when I said it might happen due to numerous reasons and even if it does not gives firm footing for the rest of the week to book rises
I don’t get it there is no oil and the share price is still strong,Don’t get burned
Dax, read the rns from Thursday lol
Here we go. Shows how much research some people do before they post on here . NO OIL. WE HAVE A FEILD thats about to produce millions in revenu.
Same as those who said LP will not come when some of us said LP was 100% guaranteed
I did not read all RNS and none of the posts either,It may go Blue Who knows
I agree. Lets take a look at the RNS :
Petro Matad Limited (AIM:MATD), the AIM quoted Mongolian oil company, announces that the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia reached a total depth (TD) of 1500m and wireline logging has been completed but unfortunately all the reservoirs encountered were water bearing.
The well came in close to prognosis at all levels. The primary objective Late Jurassic/Early Cretaceous Undur Formation was encountered at 1170m and had good quality reservoir sands interbedded with shales over a c. 200m interval. In the secondary objective Early Cretaceous Shinehudag Formation, three thick sand units were drilled with average porosity of around 18%. Good quality electric wireline logs confirmed both objectives to be water wet.
The well will now be plugged and abandoned and the rig will be demobilised. Operations were carried out on time and as budgeted with the full support and cooperation of the local community. The well results will now be incorporated into the Company's interpretation of Block V before any further operational activity is undertaken in the area.
I can not believe this share price ended where it has today. I must be drinking something that has an impact on logic. Good luck all LTH but as Biden says "C'Mon man"
Never second guess the market and always read between the lines.
AIM Shenanigans at its best 🤔
Dax1: no worries - what's important is: You don't get it.
Absolutely true Master. Many were aught with their pants down when the LP landed and the same will happen again.
No doubt.
When you look back over the years n years of drops and rises in MATD due to large volume price movement ...there always seems to be a telltale sign of what is going to happen a day or so before the news arrives..
Many of the posts on here have indicated that "LEAKS" arrive before the actual news..
So due to the drop on Friday 7th.... had it been leaked already that Velociraptor 1 was a duster?
There seemed no other reason for that sell off on Friday and come Monday the MMs new it was coming and battered the hell out of the share filled their boots @ silly low prices and will now wait for the good news it come or may have even sold and made a good earner.....
Being ahead of the news will alway pay dividends and its nice business if you can get it...
Professional
There could be some large trades still to be reported after hours today or tomorrow.
I added to my pot today at whenever price i could get just like many other holders. I have a target holding in mind to get to. Selling at 6p last week was NOT why i invested here. This is a transformational period in MATD history and i want to see where it is sitting 12 months from now
From the Progressive report:
"The only pitfall is that the company currently has a weak balance sheet. Management is
aware of this and is looking at ways of getting the required funding. We believe that this
could come from a combination of farming out an interest in its licences, an equity raise
and bank financing. Once the field development plan is approved, much uncertainty will be
removed and we believe that management will move swiftly to get the financing in place."
Could explain some things...
A year from now could be a 10 bagger from todays price Mr P
This is nt AIM at it s best, this is total MM SKULDUGGERY.
Surely ILLEGAL
Just wish i d seen it at 9 am and made a packet.
Doc83
We still need to spend $10m first.
Think analyst referring to full field development which would be when you got 14 wells planned. Will also depend on how many wells we get up and running this year from Heron.
If we already got revenues flowing from 4 wells, then you would find it lot easier to raise funds next year pretty much close to Market price. They might even raise at premium.
I would more than welcome fund raise next year if that would result in Double / Treble Oil production leading to even higher Oil revenues.
They don't need to issue shares.. the norm is to take on debt as cash flow will fund it
Mr P
Very basic point some people miss lol ;)
So why is Peter Hitchens of Progressive calling it a potential pitfall?
Clearly, I hope there is no raise.
You are selling all above 6p not leaving 50% of shares?
This was for proffesional
Mr Doc
What date is on the research note you read?
I just read Progressive note date 10/07/2023 and cannot see reference you make.
Did see on note 2021
Come on Doc83
You probably looking at old research note.