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Makes no sense if the buy rate is down as well as the sell rate.

What's going on??

Can't see any logic in MM's prices. Anyone enlighten me??

Agree Patshare, none of the many SP predictions on this BB have been accurate and most of them have been massively wrong. It gets increasingly boring to plough through these posts every day.

And what an elephant. If velociraptor hits oil, it opens up the prospect of exploring almost 8,000 (thousand) sq, kilometres of further potential acreage. compare this to block XX which at 218 sq. kilometres is tiny in comparison!!

Sounds like sour grapes BP.

In 6 days time expect to reach oil reservoir in Velociraptor drill! That should push SP up substantially.

So he's buying.!!

Dropping now @ 6.15

MMs still in control. Only Bid price moving , up and down.

Buying @ 6.40

Now 6.25

Stopped rising at 6.10

Some big sells going thru as we speak.

Master, thank you for his very informative post. you have stated facts in a clear and logical way without reference to Rampers / derampers or any other personal innuendos. WOS take note.

How about CC Doc and the Skyrockets?

Sold up yetyerday and out completely now. Still kept a small amount in Alkemy because that seems more likely to materialise than PRE.

Good luck to those that choose to stay on this one.

Continuation.:-

..... basin the Asgat Sag, where the Red Deer Prospect was matured for drilling during the 2019 drilling campaign.

At the southern end of the prolific Toson Uul Basin and targeting an extension of a PetroChina oil discovery in Block XIX, Heron-1 well was spudded on 19 July 2019 reaching a Total Depth of 2960m MD within the Lower Tsagaantsav Formation and below last observed oil shows. Well data and analysis of wireline logs identified 70m of oil shows within which three zones across a 40m interval were clear candidates for well testing. Testing operations across two of the three zones were completed on 31 October 2019 with commercial rates achieved prompting the application of an Exploitation Licence across the northern part of the block for the development of this discovery and definition of possible upside potential.

A few kilometres west, the Gazelle-1 wildcat exploration well was spudded on 18 September 2019 on a separate structure but immediately updip of another Petro China oil accumulation. Total depth of 2550m MD and reached in sediments of the Sharilyn Formation and good oil shows were observed at the top of the targeted Lower Tsagaantsav Formation. Wireline logs identified the presence of two oil bearing zones and the well was suspended on 18 October 2019 for potential future testing.

Within the Asgat Basin in southern Block XX, Red Deer-1 wildcat exploration well reached a Total Depth of 2000m MD on 14 September 2019 having encountered oil shows across much of the objective Zuunbayan and Tsagaantsav Fm targets. Log analysis however did not identify any intervals for testing and the well was plugged and abandoned and. the rig released on 20 September 2019. Geochemical analysis of the oil show samples indicates the presence of a mature and active petroleum system in this basin too. The Asgat and surrounding basins are now available for relicensing and consideration is being given to this.

"don't get me wrong, everyone wants this drill to be a success but the truth is there were 4 wildcat drills in 2018/2019 and all failed to find oil."

yet again you post inaccurate and incorrect data, which is also out of context. to say that the drills failed to find oil is totally incorrect. below is the true version of events in context.

the initial exploration work commenced on bogd block iv and ongi block v in 2009 with the acquisition of regional gravity data and acquisition of reconnaissance seismic lines across the potential basins identified by the gravity data. these blocks had never previously been seriously explored for oil and gas; consequently, there was no subsurface information of any description. the early exploration work identified potential basins; and exposed outcrops at the basin margins provided the easiest way to collect data on potential reservoir and source rocks. exploration field work resulted in the discovery of world-class oil shale deposits, which demonstrated the existence of potentially rich source rocks across the blocks.

blocks iv and v database consists of 4,400 kms of 2d seismic, 200 km2 of 3d seismic, 11,000 km2 of airborne acquired ftg & hram, the first acquired in the region; continuous core recovered from drilling of two deep stratigraphic holes (3000m total; 1400m and 1600m each); data obtained from extensive field work campaigns; and analysis of samples collected from various sites in the blocks.

within the taats basin of block v the snow leopard-1 well was spudded on 9 july 2018 reaching a total depth of 2830m md in basement granites. following the evaluation of wireline logs the well was plugged and abandoned with oil and gas shows on 25 september 2018 with no lost time accidents reported during the 80 day operation. although commercial volumes of hydrocarbons were not encountered, post-well analysis has proven the occurrence of a migrated oil in the well and a thick unit of rich source rocks which together prove the presence of an active petroleum system in taats basin.

petro matad’s initial exploration campaign in block xx consisted of re-processing existing seismic data and acquisition of 2d and 3d seismic surveys and drilling eleven wells (2010/11) on the davsan tolgoi structural high with hydrocarbon shows being encountered however no commercial discovery was made.

re-processing of 2d seismic data and access to the overlap of petrochina’s acquired 3d seismic data into the northern part of the block significantly reduced the uncertainty on possible extensions of discovered oil into block xx and matured potentially commercial drilling prospects which become the focus of petro matad’s 2019 drilling campaign.

to the southwest, prospective but frontier basins had been identified on co**** 2d seismic and gravity data on trend and with a similar stratigraphic and structural style to the proven systems in adjacent erlian basin of china. of particular interest was t

ART, your comment that al previous drills have "come up dry" is incorrect. In fact ALL previous drills found oil shows, gas or both. That proves the presence of oil or gas, but not in commercial quantities in those cases. that is completely different than a duster. Please post accurately or don't bother at all.