Member Info for Andii

The technical director talks all about the wells from minute 20 if interested (my 23:09 post last night)

Pretty amazing to have the opertunity to get in at 1p today after the company has spent £170m in its history! £61m worth of tax losses and loads of seismic data and lessons learned!

Had a listen to the investor meets company presentation.

1hr5mins20s

https://youtu.be/0zhzbYivPvc?si=eJWo71m3p8EUCQkv

Chances of commercial success at Heron 2 = 70 to 75%

Chances of commercial success at Gazelle = better than 50%

As nobody dud their homework assignment over the weekend. I had to oblige

Like and share and we might get some new US investors interested

$Petro Matad ​

Junior Oil producer

share price at historic lows

1 well producing, 1 well being tested this week and a 3rd well just tested with promising flowrates. Large farmout deal being negotiated.

Oil explorer now producer in Mongolia where cost to drill is one of the cheapest in the world​

https://www.webullapp.co.uk/s/post/874864774327001088?hl=en

Still no posts on the MATD feed on Webull... You can add links and photos. There is also access to free live L2 data on MATD

(You need to open a webull account, activate UK stock trading then click the small icon below the market cap top right of the MATD summary page to activate live L2 info)

Webull · Summary for Petro Matad

https://www.webullapp.co.uk/ticker/LSE-MATD?hl=en

H2 already has a storage tank lined up. Septembers operational update RNS:

"Work has now started to complete the well and install temporary surface production equipment. PetroChina has provided us with a suitable second-hand beam pump and our construction contractor has mobilised to site. We expect to be ready to start pumping operations by month's end to recover the remainder of the injected fluids and then determine the flowing reservoir fluid and the well's productive capacity. Should a commercial oil rate be achieved the temporary facilities can continue to operate whilst a permanent storage tank is installed. PetroChina has identified a second-hand tank that we can use if required."

Still zero posts on MATD on the We-bull Community forum... Nobody prepared to do their weekend homework assignment??

Oops, leaks of 5mlnper minute, not per hour

If anyone could like, comment or share my posts about Ondo on We-bull, it should bring this to the attention of some new US investors...

Ondo insuretech plc is my favourite

700% increase in sales in the US in one year

43% revenue growth last year

69% the year before

Available in 19 states and growing

US households can save up to 10% on their home insurance premiums by installing leakbots which are paid for by the insurance companies and delivered for free

Nationwide, Liberty Mutual, Selective, Pure, The Hanover, State Farm all offering free devices to customers which can detect small leaks up to 5ml per hour

https://www.webullapp.co.uk/s/post/874401938702077952?hl=en

This poll is designed to canvas the We-bull community to find out if they have heard of UK listed company called #ONDO ​
insuretech plc who design, manufacture and deliver sensitive water leak detection devices paid for by your insurance comapany. They grew in number by 700% in the USA last year, they are free to the homeowner, come with free plumber repairs and can result in a discount of 10% or more on your home insurance policy (Nationwide US are currently offering this discount to customers)​

https://www.webullapp.co.uk/s/post/874376728246706176?hl=en

From chat whatsitcalled

What is known

In 2023, Mongolia’s total oil production was about 15,110 barrels per day.

TheGlobalEconomy.com

PetroChina Daqing Tamsag contributes over 95% of Mongolia’s oil production & exports.

minepro.mn

+1

As of 2021, Tamsag (“Field-1, 2, 3”) had ~ 311 oil extraction wells, out of 589 wells drilled in that field.

mongoliainc.com

+2

minepro.mn

+2

Standalone, in the Tamsag oil field, output was ~ 1,242 tonnes per day in recent past, which corresponds (depending on oil density) to ≈ 8,500-10,000 barrels/day.

Estimate

Given the above:

If total Mongolia production is ≈ 15,100 bpd and PetroChina contributes ~95%, then PetroChina’s production is likely ~ 14,300-14,500 barrels per day.

Wells online: in the Tamsag area, there are reported ~ 311 oil extraction wells; however “active / producing” vs total wells drilled is not clearly separated in recent data.

***********

14 000bopd over 311 wells = 45bopd per well average

What is break even bopd to make a well economical? Looks like petro China had around a 50% success rate. How many dusters have MATD drilled to date?

Https://theoakbloke.substack.com/p/fed-up-and-watr-ed

(This thread discusses WATR and ONDO)

"I remain deeply sceptical on the merits of Chubb’s product vs Ondo Insuretech. Both from a product point of view (the former is not patent protected while ONDO is), plus the business model itself. WATR appear to believe they can earn rich rewards in recurring revenues from well-heeled customers. There are two problems with this. First there is no evidence they are achieving this in practice. We are vaguely told about relationships with Insurers while ONDO specifically name its partnerships and direct growth via those insurers. Second, the ONDO model essentially offers its service for free then charge $60 per year recurring (in the US). WATR offers its implementation service at a charge (of up to $2k - as their product requires a professional plumber installation and pipes to be cut) followed by a large $500 per year annual recurring charge where an unspecified proportion (100%?) goes to Chubb. Remember WATR say they get a “product discount” - no mention of anything else. Chubb acquired the Streamlab product in 2021 and the original team goes back to 2010. Very little traction in 15 years. How will Year 16 suddenly be different?"

Could be worth a few users making some posts about MATD and engaging on the webull forums to try and encourage US investors to invest here now?

I did exactly this for another company I am invested in. Yes this is a subtle cross ramp but engaging with the webull US investor audience on their forums should help all UK stocks, we just need to get the word out and poach some of the US cash into our London stocks...

https://www.webullapp.co.uk/s/post/874376728246706176?hl=en

Https://www.lse.co.uk/rns/MATD/operational-update-q8x7eeth5woa6yy.html

Here is the RNS here. Committed spend forst 2 years is only $980k so they still have until January 2027 to sink an exploration well or two in the ground and test to see if they like it. Kind of like putting a deposit on a house to use it for a few years before deciding to buy it or not

@Frontera, where do you get carried-forward tax losses of $61m from? I couldn't see it mentioned in the full year results

The £14.9m commitment is only if they choose not to relinquish the licence in full after the end of each phase. There is a get out clause afyer the first $1m and 24 months if results are not good enough 🍾😄👌

Production last 10 years until October last year? Zero

Accrued tax losses? $61m

Share price high? 200p

Share price today? 1p

Borzon only has a commitment of $980k first 2 year phase, the rest can be "continue or relinquish in part or in full"

" Contractual and fiscal terms are very attractive compared to most other international jurisdictions. The financial commitment on Block VII is very low as Petro Matad has been able to incorporate into the eight-year exploration term a phasing of the work programme and the spend with the option to continue or relinquish in part or in full at the end of each phase. This keeps the commitment spend low until prospectivity is determined and further expenditure is then supported. In the first two-year phase on Block VII, the agreed work programme comprises field mapping and related studies designed to mature areas for future seismic acquisition and/or drilling at the Company's discretion in the following phases of the exploration term. The commitment spend for the first two-year phase including all PSC fees is $980,000 and overall expenditure under the contract for the full eight-year exploration period is $14.9 million. "

Herron 1 did 200 BOPD with a 0.3" choke with 6% water

Gazelle did 460BOPD with 0.25" choke with 0% water

Did they flow Herron 1 too aggressively and damage it?

Gazelle is a new reservoir with different geology with double the flow rate at 0.25" choke. Maybe it can be pushed just a little harder and maintain 600bpd

Did you factor in 15% improvement in costs due to electrification which will be extended to Heron 2 and Gazelle?

Also, unicorn scenario, the farm out happens bear term and Gazelle produces 600bopd plus heron 2 does 200+

£60m of carried forward losses?.... That makes a huge difference to the profit margin for years to come surely?? That could pay for 15 to 20 free new wells

And a £25k director buy (albeit warrants at 20p)