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I don’t think we know how big Velociraptor could be. Mike seems pretty confident about it as the company thinks the oil from Snow Leopard migrated to the trap they have called after the nasty dinosaur.
Matd operate on a 17% recovery rate estimate, which means the Velociraptor target is thought to contain 1182million barrels of oil and probably why their upper estimate is 400million barrels recoverable.
Fox is the same 200m recoverable so makes it a similar estimate of over a billion barrels in place.
Phoenix and Phoenix West are even bigger with a total estimate of 360 million barrels recoverable.
Matd has stated that modern drilling techniques can bring the recoverable rate up to 30% which means the total potential recovery (if successful) between Velociraptor, Fox and Phoenix is circa 1 billion barrels.
Mongolia is going to have to build a **** load more refineries because the current capacity of the refinery being built is 30k barrels per day which will take 91 years to process if Matd’s drilling of the prospects prove to be successful.
This is important to remember, we already have a local permit for Velociraptor.
There has always been massive potential here, the permission to drill and exploit Heron is huge, it’s massive, it is THE most important key to Matd’s success and when granted I am guessing a lot of people here will make a very nice sum of money, as will the company.
2023 - The year of the Yak. Good luck
Good post D1nger, Working interests, operatorship, tenure. Petro Matad holds 100% working interest and operates Block V. Exploration Licence runs until 29 July 2024
Proven petroleum system.
2018 Snow Leopard 1 with good oil shows Large, shallow prospects with multiple targets identified 7km south of Snow Leopard 1 along the Raptor Trend.
Transformational potential for country and company. Approx 200MMbo' recoverable resource potential in Velociraptor Prospect which is drill ready. Approx. 380MMbo' follow up in adjacent structures. Very low cost drilling (<$2.0MM) 20% chance of success, better than most high impact frontier wells.
Time remaining on PSC sufficient to follow up success with appraisal well, well testing, related post-well studies and Exploitation Licence application.
Precedent set for Exploitation Area to include discoveries plus adjacent exploration upside. Potential to be on stream within 2 years and to meet the needs of the Mongol Refinery on start-up. GLA
Looks like we're winding up for another multi-bagging spell from the rampers!
Think Easter time for egg & not sour grape ;)
Thank you for good post from poster here & base on fact. Will invest according to this and not sillly comment from other.
Be happy & good :)
Matd about to go through a transformational period - from an ugly duckling into the goose that lays the golden egg?
glad you added the ? mark researchandhold!
I refer to Greebacks' post @09.12 this morning. You could make a lot of people happy!
D1nger. Excellent post.
Amazing potential upside from Block V.
Piece from Progressive research analyst below:
"Petro Matad believes that the Velociraptor prospect could contain recoverable resources of 200 mmbbl. In this scenario, management believes that it could achieve first oil as early as 2024 and that this discovery could reach a peak production of 90,000 bbl/day in 2028. On the costing side, the exploration well is expected to cost a mere US$1.7m, while for a full-scale development we believe that capital expenditure and drilling is expected to be approximately US$1bn, representing a modest level of capex of US $5/bbl".
Agree mr D1nger you make VERY good post at Sun 20:39 & show why lot of people will start to take position in MATD investment with coming days.
Q2 is SO HEAVY with NEWS!!!
Good we are holding stick already for price to start rising & rising.
Happy :)
BOOOOM :)
Good start & strong large Buys first thing.
The one who want to know what mr Mike Buck has been doing (lol) should read last RNS & see all RNSs we expect in Q2
Also Mongol Govt move toward Foreign investment & Special designation LP signing at coming Cabinet meetings ;)
One who does not will not be happy :)
Easily get a quote to sell nearly a million for over 4.2p!
Demand is massive.
5p would be history soon.
LP=20p+
Hamm I'm expecting 4.6-4.7 finish here today...just my view
Bigbench, I am really surprised that we are still under 10p considering the potential and immenent oil production!
This is a real no brainer. 10 bagger from here.
Me too Hamm, i think the market just needs the LP news to drop in to let the world know MATD is on for a mega Q2-Q3... a multibagger for sure in the weeks ahead
Totally agree gents. I’ve just bought another 184’000.
Was hoping to bag another 200’000 but can only see this going in one direction now.
GLA
4.40 paid over ask...great sign
Will see lot of investor take position in Q2 just for Velocirapror which is potential to be "COUNTRY CHANGING" not just Company changing.
Mr D1nger make good post yesterday at 20:39 and this is Mr Mike Buck CEE words not BB poster one.
Velocirapror drill on known petroleum system so better then just ordinary exploration
MATD ALREADY have oil to give investor good safety for investment & LP news due any day
Look VERY VERY good for SP rise in days ahead & happiness for investor :)
Can get quote to sell over 1 million for 4.3p!
Amazing demand.
Guys hold to your golden shares.
LP=20p+
As Basil Brush would say Boom Boom