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PM normally rises from Dec to Feb. So plenty to.come yet.
I think the rise is just for block v activity. If LP is given then 10p will be easy from here.
Great post ...Thanks
Matd had 3 PSC contracts in blocks IV, V and XX.
Extensive 2D, 3D and use of other exploration techniques led Matd to release an RNS declaring that they estimated between 9 billion and 25 billion barrels of oil in blocks IV and V which led to the rise from 3p to 38p.
The then CEO entered into a death spiral finance agreement for drilling which destroyed the share price.
Step in Mike Buck who did two quick raises to finance drilling on block IV (Snow Leopard and another one I can’t remember, which were unsuccessful). We have since relinquished our interest in block IV.
He then turned his attention to block XX (Heron) and found light oil which flowed freely at a rate of over 800bpd. Initially estimated at a recoverable amount of 25 million barrels. NPV10 at this time was declared at $150m when oil was priced at $60 per barrel.
Updated estimates on recoverable oil at Heron is 60 million barrels which at current price of between $80-$100 per barrel provides an NPV 10 of between $480m and $600m.
COVID restrictions has played a major factor in advancing the company forward in that most of the expertise in drilling has been sourced from China and it is only in the last couple of days that covid restrictions have been eased.
Matd still has PSC contract obligations to fulfil in block V, hence the plan to drill Velociraptor in 2023. Should this be successful, then I would imagine the application and approval of the exploitation licence would be much more streamlined, after the problems Matd encountered on Heron.
The irony is that there are no local restrictions in Block V due to the fantastic local work carried out by Matd and there should be no identifiable barriers to exploitation on block V should oil be found.
It appears Petro China’s lack of environmental responsibility has badly hindered Matd’s progress in extraction of oil from Heron but hopefully that should be resolved soon with Ministerial approval.
We are in a good position, having $6 million available with additional financial support from Petrovis should we need it in bringing Heron into production and drilling Velociraptor.
All the equipment is in place at Heron and most of it is in place at Velociraptor. With covid restrictions easing and the likelihood of local access being granted soon then 2023 should see the re-rate we have been expecting.
Good luck fellow yaks, hopefully we have turned a corner and the only way is up.
Yesterday at 11 buyers arrived big style.
Why, what's happening at 11
11 o clock coming, fasten ur seatbelts :-)
Yesterday buying started after 11. Lets SEE what happened.GLA
My bet 4p today…
Those looking for retrace back down and thought 2.9 was highest this could go….deramping failed!
Ticking up nicely 3.18 paid
Thanks for the contributions, much appreciated. ATB
Great summary D1nger and should help cut through the disinformation being actively propagated by some (Lambo222 take note).
Just to add, I'd advise everyone to refer to Mike Buck's presentation on the 7th Dec, as well as previous presentations/updates detailing the strategy to develop Heron. That should enable everyone to independently check the validity of posts & posters.
On to investment specifics - the company are "comfortably funded", with most of the drilling costs / equipment procurement having already been covered.
The company still have £6M in cash and as previous presentations have clearly stated, production revenue & offtake elements will play a large part in Heron field development beyond Heron 1.
That organic growth will be fast tracked through the DQE involvement, with whome Petro Matad are in advanced stage talks. I expect the deal is done and will be signed on the Special Designation issyance from the Ministry of Mines.
Mike Buck, who is in rmcomms with MRPAM, the Ministry and the Mining Minister, expects that "any day now".
The company are in advanced stage talks with potential partners in the Renewables space, for which Newsflow can be expected shortly. Apparently Mongolua has a massive potential through wind farm energy generation, with Petro Matad providing in country expertise to facilitate operational development.
We then have the massive Velociraptor potential, with a working hydrocarbon system having already been established within the basin.
All permitting & equipment for that covered and in place for operational commencement in Q1 2023.
It's clear that Petro Matad are very well positioned, well funded and with a clear and rapid growth strategy.
They're at the key stage of making the fundamental transition from a pure play Explorer to a revenue generating PRODUCER /EXPLORER and within a highly favourable macro economic environment if high energy price / demand.
The previous price moves have been rapid, as we saw with the move from 3p to 33p being referenced, as well as the EL issuance move from 3p to 9p.
We're now much more advanced, well funded and with a major expansion strategy underpinned by near term production & strategic partners in the wings (albeit they're not essential to that strategy).
I fully expect the price to move rapidly into the 20p-50p range within Q1 2023 (perhaps sooner on the Special Designation RNS) and will be purchasing more stock today for my own holding.
Everyone should make their own investment decisions based on their own INDEPENDENT research.
However, I suspect many that sold yesterday will be disappointed with the price progression expected here and based on sokidcfu fundamentals/historic price patterns.
Regards
Nice friendly start to the day!
I hope it stays that way and we all give out good vibes to MB & MATD and we have a cracking 2023.
Well done mate, great post as always D1nger.. :)
Really looking forward to 2023.
Should be a great year for all that are invested here.
Raptor is a game changer for me.
GLA
Excellent post D1nger
Nice D1inger!!! Roll on 2023.
Matd had 3 PSC contracts in blocks IV, V and XX.
Extensive 2D, 3D and use of other exploration techniques led Matd to release an RNS declaring that they estimated between 9 billion and 25 billion barrels of oil in blocks IV and V which led to the rise from 3p to 38p.
The then CEO entered into a death spiral finance agreement for drilling which destroyed the share price.
Step in Mike Buck who did two quick raises to finance drilling on block IV (Snow Leopard and another one I can’t remember, which were unsuccessful). We have since relinquished our interest in block IV.
He then turned his attention to block XX (Heron) and found light oil which flowed freely at a rate of over 800bpd. Initially estimated at a recoverable amount of 25 million barrels. NPV10 at this time was declared at $150m when oil was priced at $60 per barrel.
Updated estimates on recoverable oil at Heron is 60 million barrels which at current price of between $80-$100 per barrel provides an NPV 10 of between $480m and $600m.
COVID restrictions has played a major factor in advancing the company forward in that most of the expertise in drilling has been sourced from China and it is only in the last couple of days that covid restrictions have been eased.
Matd still has PSC contract obligations to fulfil in block V, hence the plan to drill Velociraptor in 2023. Should this be successful, then I would imagine the application and approval of the exploitation licence would be much more streamlined, after the problems Matd encountered on Heron.
The irony is that there are no local restrictions in Block V due to the fantastic local work carried out by Matd and there should be no identifiable barriers to exploitation on block V should oil be found.
It appears Petro China’s lack of environmental responsibility has badly hindered Matd’s progress in extraction of oil from Heron but hopefully that should be resolved soon with Ministerial approval.
We are in a good position, having $6 million available with additional financial support from Petrovis should we need it in bringing Heron into production and drilling Velociraptor.
All the equipment is in place at Heron and most of it is in place at Velociraptor. With covid restrictions easing and the likelihood of local access being granted soon then 2023 should see the re-rate we have been expecting.
Good luck fellow yaks, hopefully we have turned a corner and the only way is up.
The major difference is that MATD has commercial proven oil. We just need LP. If/when we get that sorted the share price will improve enormously. It is just a warm up for now.
We might have a lovely surprising Xmas guys,
2017 they had an Mcap of £6m…. Todays Mcap is £27m at 3p due to the $45m raised over the years for drilling, it will most likely settle around 2.8p-3.2p now until we get some firm news over the winter imo
X 9 ROI this year? I admire your optimism but think that might be a stretch! How many weeks did it take in 2017?
We might just do the same as 2017 when the share price went from 2p to 30+.
This time we have oil which makes a big difference but we need LP. As soon as we get LP It would go to 20+.
Hopefully the news will drop any time soon. That would be the best xmas for all of us.
Guys
I notice that from the presentation on Tuesday evening there was no mention of the big investor waiting to get involved.
Either he has got fed up with the waiting and moved on.
MB in all that is happening or due to happen forgot to mention it.
Maybe the big investor and the eventual need for cast will be linked with the placement being a direct sale to a big investor if that is allowed.
But this share has started what i think will be an inexorable rise up over the next few months at least given the odd spurt by releases of an RNS but i think all the future news revolves around us getting this Land Permit sooner rather than later. With out that i think everything will be slowed down, re thought and re calculated. And DQE may well revise their position as well.
Hi guys. I have a small holding here, bought at 3.5p in the raise. It really was a punt and I barely knew anything about the company. But I’m learning more now. However, for those longer term investors, can they tell me what caused the SP to rise up around 35p in 2017?
Thinking of doubling my holding here to make it slightly more worthwhile, albeit it will still be relatively small.
He will definitely raise money imo the question is at what price, $6m doesn’t go far and if Raptor is a duster and Heron doesn’t flow very well then the price will be below 2p very quickly indeed so raising cash into strength would make sense, Mcap is £27m at a 3p share price, looks quite expensive now without any actual new news the rise was based on momentum as is often the case
And you never know raise might be on. I want the Sp to be up like every one else