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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.
All as planned.. it’s good.
Unfortunately no progress on LP
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 :)
Should get to 10p real soon in anticipation of V1 results. arrival of Lp will add $$$ to the sp.
And so it begins!
The Raptor trend will change everything if successful.
GLA
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. 😁
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.
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.
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??
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
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!
The wise owl is clearly constipated and should lay off those mice for a while. Not a cat in hell's chance of LP being approved before the most likely scenario of a Raptor duster (80% chance of failure).
What price the share then? 2p perhaps?
Look like ONE sneaky caught with PANTS DOWN and why he suddenly start to post negative again.
Everyone see he do this when he buy back in after talk share down then disappear then sell & start rubbbush talk again ;)
22/05/2023 "They are repeating the step of asking all other Ministries for comments"
14/06/2023 "Ministry has COMPLETED its internal work on the Certifucation and has SUBMITTED the documentatuion to all other Govt Ministeries"
22May update say process is being repeated / Today RNS give us PROGRESS in this
Use LOGIC sir & UNDERSTAND difference in language sir ;)
Also understand NO reason for Ministry change in view & Project of National Importance designation give CLEAR message to all Govt on this.
Be happy but logical & not bitter for caught with pants down :)
BOOOOOOOM!
Https://twitter.com/petro_matad/status/1668870792195502080?s=48&t=xs5mlti_eXYeRiuGAcPuSw
Read both RNS CAREFULLY ;)
Am glad of one thing. Sneaky caught & will be 1st ones on BUY button at open while they try desperate talk down before Lol
WOS I don't think you understand this game. You usually say the B word when a share excelerates in value. Please get a grip.
Shagged,
You gonna buy in when its a duster, as 80% probabilityof failure is a good bet figure, but then again its just your view.
Still very concerned over state of lp. Needed it before v1
Mr Wooster
First you say you block me long time ago like other who did not lol
Second - Do nit think you understand difference in language. RNS word have to be precise
Before process must start all over again
Now you see progress with COMPLETED internal work & SUBMITTED to Ministeries.
This follow LOGIC if timeline I and other one who do research say.
Did say inearly post use LOGIC but all know you will be in BUY button this morning :)
Lenoman,
If it turns out to be a duster, yes I will be buying in for the LP announcement. All spare funds currently tied up in PRD's game changing drill in Morocco.
Good luck to all invested here for a positive drill result but too long odds for me at this moment in time.
BOOOOOOOOM for UNDERPRICE and BREAKOUT which happen here hard like we see plenty of time before.
Think lot of people say was 4p to 35p in few week only.
Let us see what happen now in few week :)
WOS what to add a other 2 million to the 2 million I hold? Get a grip man