Member Info for blissful

What do you mean, 'it's a pleased to announce one'?

They can only sell if there is a buyer so it's unlikely they will sell unless they do something pretty profound to the sp.

Reading the presentation, page 16, it appears there will not be any production until Q3 2020. Not much in the way of drilling either as they will probably concentrate on Heron appraisals.
It will be a long winter for holders.

I will take a lot more than that to shift this sp now .

Many thanks Alexios

Anyone any idea how long this will take to drill and data evaluated?

Up 38.9%

Added to my last post, people are only just becoming aware of this as Tower are not on everyone's list of, 'must keep an eye on', stocks. Now that it's in the top 10 daily risers changes that.

At the back of many people's mind is a simple fact: if Asher pulls a rabbit out of the bag this will multiply many times.
What is the downside? Not much, it's about there already.
Now that the situation has progressed and they have divulged more important information to a major oil company after holding preliminary discussions in the summer, if there is a move by the major, those who are in now are likely to have a good multibagger on their hands. Not surprisingly the market is aware of this and the sp is moving up accordingly.

Maybe it's time to stop worrying about each other and being negative and concentrate on the great prospects we have at Heron. If Red Deer does come in we will be in a fabulous position, then Gazelle with a fairly high CoS. However, it does appear that Heron is better than PetroChina's acreage to the north and we are in a position of becoming a producer very soon.
Good luck all when the results of Red Deer come in during the next few days.

Good post Proslenes, it goes to show MATD are extremely undervalued as very few people seem to realise we have a superb oilfild surrounding Heron 1.

Perfect day so far, a lot of this week's sellers will need to jump back in sharpish or they will out for good as this can rise in a flash. It is still very cheap.

Everything is a risk, nothing is certain, money is not given away, besides, not everyone has heard of this company. That said, if all goes well we should see a lot of upside from here. The mkt cap is just over £13m so any good news about Iraq is likely to increase this dramatically. Why else would two very rich, high profiles buy in? At the moment it's a waiting game.

Velociraptor may not be well #4 of this year's drilling campaign according to Mike Buck.

Take a look at the satellite image of Heron and then move it north to where PetroChina have drilled, there are so many wells, tens of them, maybe 100. If Heron flows at 200bbld that would be about 73000 barrels a year. In ten years it wouldn't even reach a million and yet we could have 25m as a rough mean estimate. But if we have Heron 1,2,3,4,5,67,8,9,10... etc we will start to make a dent in the reserves and bring in a decent amount of money. There are already some pumps in the warehouse so we may as use them! So with ten wells and PetroChina involved to cut our costs we can drill as many as is viable once the weather is warm again. It frees Matad up to concentrate on other prospects. It also gives us borrowing power, no more dilution. With 10 wells and 2000 barrels a day - you do the maths as they say. Heron has been vastly undervalued but maybe that's because they have not done the flow tests even though the prognosis appears better then those producing wells across the border. We will soon know everything. If Red Deer comes in we may need even more help, another farm in perhaps but if Velociraptor proves what is suggested we will attract some very deep pockets. Excitement or what?

https://tinyurl.com/y2scmlc4out

https://total-market-solutions.com/2019/09/10/malcy-talks-oil-gas-xiv/

About 13mins 10 secs

Yes, good news Gunner1. They met with PC some time ago and PC wanted to see an oil discovery before entering talks in earnest. Now that has happened PM and PC can work together to optimise the benefits of a farm in/unitisation. It goes to show they are confident of a commercial oilfield at Heron.

Stick with it SYFreshPrince as it appears Heron is commercial but that needs to be endorsed with flow tests. Watch and listen to the presentations, Velociraptor is the 4th well that will be drilled and that is the first of the big targets. If successful, and the CEO is itching to get this one drilled, we should have a ten bagger - by November!
Things rarely go to plan and the oil business can move at glacial pace with plenty of setbacks but when things go well the results can be phenomenal.

Petro Matad
The company announces that at Heron-1 TD of 2,60m has been reached with gross reservoir intervals appearing to be very similar to the productive reservoirs found immediately to the north in block XIX. Casing is now underway and discussions have taken place with the testing contractor to determine how quickly kit can be mobilised to the location. The timescale should be within one month and hopefully a great deal less, as the company are keen to get a flow rate and to get stimulation of the well underway.

The primary target was encountered at 2,803m some five metres shallower than expected which I am told is a good sign as was the predominantly sandstone interbedded with shales and siltstones found slightly deeper. The company are ‘encouraged and the well is better than expected’ and in my call with CEO Mike Buck this morning he was clearly delighted, particularly with the porosity and permeability in the formation a pleasant surprise.

Petro Matad is only up 5% today which is a touch parsimonious but to be fair puts it up at or near recent peaks and the market knows that they are also drilling the Red Deer well at the moment. Recent speculation about that well is just that, after some slight delays due to kit on site the bit is only ‘close to objective depth’ but should reach TD in mid September before logging.

The rig will shortly move off this site and move to drill the Gazelle-1 well which it should spud in late September which means that there is still plenty of excitement due for the company. Should Heron go on and be the success that it seems they will be able to kick on with plans to make the next steps of the operation to start producing commercial hydrocarbons from Mongolia, which they thoroughly deserve, after all some of us have been waiting a long time for this moment…