Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
So all the activists are now arrested and for the time being behind bars. The government and police have been very tolerant with their behaviour so far. Now the trust fund is agreed it would be satisfying to see all the activists being excluded from having a government bank account . Therefore they would never receive any of the proceeds. Why should they be allowed to benefit from the success of Mongolia's future good fortune...Every citizen of Mongolia is about to become very wealthy.
Every Mongolian citizen will share in the revenue from natural resources. The government are certainly considering their people and sensibly enticing them to vote them back into power at the next election. Very clever move. Also massive for Petro Matad because almost every citizen will be pushing for Petro Matad expansion. More oil means more revenue for the wealth fund thus more money for the citizens...The government have played a blinder here .
This really is massive for Petro Matad. Give it some thought.
Many thanks to Wise Owl and Master for the helpful research you have been supplying.
Good luck to all long term holders and don't worry, this is going to be huge.
24 Oct 2019 07:00
RNS Number : 9858Q
Petro Matad Limited
24 October 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PETRO MATAD LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
24 October 2019
Petro Matad Limited
('Petro Matad' or the 'Company')
Results of testing at Heron-1
Petro Matad Limited, the AIM quoted Mongolian oil explorer, is pleased to announce the results of well testing operations at its Heron-1 oil discovery in the north of Block XX, eastern Mongolia, adjacent to the producing Block XIX, operated by PetroChina.
Highlights
·; Positive results of well testing operations at Heron-1 oil discovery in the north of Block XX
·; DST2 flowed oil at a peak rate of 821 bopd
·; Produced 46o API oil, without need for artificial lift or stimulation, exceptional for the Tamsag Basin
·; DST1 did not flow naturally but proved at least a 70 metre oil column in the well
·; Company will incorporate all data from the 2019 drilling campaign into rapid reinterpretation of Block XX in order to apply for an Exploitation Licence from the Government of Mongolia
Intervals for two separate cased hole drill stem tests ("DST") were chosen based on the petrophysical analysis of log data acquired over the 77 metres of potential oil reservoir in the Lower Tsagaantsav Formation in the Heron-1 well. The first test was performed over a three metre zone at 2,872 metres, near the base of the sands seen in the well. This zone proved to be tight with very limited inflow recorded. Oil was present in the test string when the tools were recovered to surface indicating that the zone is indeed oil-bearing and so proving an oil column height of at least 70 metres in the well. The pressure data from DST1 is now being analysed and will be used by specialist reservoir stimulation experts that the Company has retained to determine if improvements in permeability could be achieved to allow this zone to flow.
DST2 was performed over a 12 metre interval from 2,834 metres in the upper portion of the Lower Tsagaantsav Formation. The zone flowed oil and some associated gas to surface without the need for any artificial lift. This is exceptional for the Tamsag Basin where only a few of the hundreds of wells drilled have had the capability to produce oil to surface on natural flow. The peak production recorded during the test was 821 barrels of oil per day ("bopd"). For the main flow period, the well was choked back on an 0.3-inchchoke to optimise the collection of pressure data. Through this period, the well flowed at an average rate of 200 bopd with a well head flowing pressure of 250 psi. The oil recovered is very light, with an API gravity of 46 degrees making it one of
We have to remember that the market makers are extremely good at what they do...It is their expertise which makes them rich and keeps us poor. They are playing this share to the limit and I don't blame them, it's what they do.. Play into their hands or sit back, relax and enjoy the swings... But Please don't sell and get caught with your pants down. We have all seen what can happen to this share and we are about to have a re-run.
Petro Matad have been given access to high quality 3D seismic studies by Petro China ..
Why would Petro China do that...it is kind of like marking the drill spot for PM and waving a flag whilst shouting here it is...drill here. There has to be more to this than meets the eye...They must have had very in depth talks together.
The Chinese don't give anything away for nothing and they are certainly not stupid. Could it be possible that a deal in principle has already been negotiated between both parties subject to a successful drill program. Petro China assist as much as possible on the basis of having first option to negotiate terms with Petro Matad...
Lets face it, they are both desperate for the oil and a liaison or partnership is within both there interests.
Maybe talks and developments by Mike Buck are a lot further than we give Mike credit for...Lets be open minded and think positive....
Francesca to all P/ investors.......here is a photo of my mum.....this is one of my doggy....and this was when we were all on holiday last year.......Lighten up chaps, the company are very busy at the moment...drilling a very deep well.
The MM's were setting their book at 12.72 at close.. they know the score.. these shares are all spoken for and very few are going to be available at a discount.,,The information tonight from Matd is exactly what the market has been waiting for......Positive and forward thinking with factual information confirming a positive drill program commencing in a few weeks....Be prepared for a surprise tomorrow morning....Larger investors are involved now and they will not be interested in flipping for a few pence profit.....they Know the rewards here are huge...at last the market has woken up to Petro Matad and their true potential.