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The thing that I got most out of the MB presentation is that Mongolia needs a substantial increase in oil production for their new refinery in 2024/25. It follows that in that environment we will get what we need to get producing and local objections will be overruled.
As previously mentioned last year parliament closed their Autumn session mid Jan last year. Pressure is being put on the Mining minister to get the land permit through. The government need to put out some good news in a charm offensive to offset the current accusations of coal theft. I expect LP to be granted before the end of the Autumn Parliamentary Session and then it's onwards and upwards for PM.
Looking very good at the moment - all we need now are results and a SP which reflects the true value of this company and its potential. We've all been waiting and holding on long enough - it's time we finally get the reward we've been waiting for so long (can't hold back my tears!).
GL to you all!
The rise hasn't really started yet. We are nearly where we were 3 months ago. I am hoping MATD gets better in communication. As we have seen with an RNS/ interview confidence is getting back. Hopefully the share price will rise to 9p+ while waiting for LP granted and double digit soon after.
Exciting time on the way.
Have a lovely day,
That's what I was thinking. The EL was a big stepping stone to being a profitable company but the LP is pretty much lift off.
I still think that a lot of investors will become aware of the potential here and jump on board soon which will see the SP climb to new highs we haven't seen for a long time. Especially if we are in the top risers again for a few days next week.
All in all, not a bad week !!
Despite the amount of wayward and possibly schizophrenic posts on here, it is indeed nice to see the positive posting. May the oil gods shine on us all …..even the schizophrenic ones.
Xmas comes early guys.
Finally/ hopefully it would be our time this time. With LP in the way history is repeating itself with super multiple bags.
Have a lovely weekend guys,
The LP is the catalyst for PM - with all that's already in place or close to being in place then the LP should be a snowball effect. Matad have never been in this position. Who knows what the SP will be when the LP is granted.
We need to remember that a fund raised was expected after the Exploitation Licence, limiting upside and we didnt have Velociraptor in the mix.
Neither had we been approached by DQE, with a view to accelerate scaling up of Heron and hence magnitude of production revenues.
We have all that now and hence a MUCH better situation than at the time of the EL issuance.
Also, a significantly higher oil price.
Have a good weekend all. This week was just the start and I expect next week will be a very good one indeed for holders, as we start progressing along a new upward trend.
yes but wouldn;t the LP out trump the EL, I would hope.
24% dilution. So sp should go to 6/7 minimum.
Good point, forgot to take that into account.
Bluechipz. 9p was prior to the dilution
It nearly got to 10p just for the EL, so hopefully it'll easily go past 10p+ with news of the LP being granted.
GLA
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