Member Info for blissful

It seems they are now pleased!!!

Petro Matad
@Petro_Matad
·
6h
We are pleased to announce the results of drilling and wireline logging at Heron-1. #MATD Please see the full announcement here: https://londonstockexchange.com/exchange/news/market-news/market-news-detail/MATD/14218048.html

This is an excellent result and I expect Petro Matad and PetroChina to team up and develop the entire Heron structure. Pay no attention to the derampers as this appears to be better than the commercially producing wells on the next door block. I see the derampers are not quoting the RNS accurately so beware, they have other motives.

'very similar to the productive reservoirs found in oil wells immediately to the north in Block XIX.'

'Within this interval (77m of pay) the logs also define three zones with a total gross thickness of 22 metres (14 metres net) exhibiting better porosity and permeability characteristics than is generally seen within the Lower Tsagaantsav at this depth including in the nearby wells in the T19-46 oil field in Block XIX.'

The results of the Heron-1 well are encouraging. Along with the well and wireline logging data being consistent with our pre-drill prognosis, there is also evidence of zones with better than expected porosity/permeability characteristics. The well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible. Further updates will be provided in due course."

ahha, someone spotted the fake news!

Reuters News Service

Beat me to it Proselenes!

A good idea for anyone thinking of a takeover would be to go back over the presentations, including video ones. Petro China have spare capacity for oil from Heron and block XX but little else. Unitisation will give them enough oil to refine as well as halving theirs and PetroMatad's drilling costs to circa $1.5m a well as they will share the drilling. There is no need to go on about takeovers etc, PM want to drill in other locations and have possible farm in partners on the sidelines waiting.

Why would PetroChina make a bid for the company if they find oil at Heron? Why would PM even countenance the idea? That makes no sense at all, PM is much more than block XX. Would the bid include Velociraptor, for instance? PC have already said they are interested in unitisation and I should think serious discussions along these lines will quickly follow any discovery at Heron.

alwaysbeclosing is a troll, don't feed.

Don't feed trolls, many have different monkers and are paid to deramp.

Just filter the numpty, his previous posts are full of a know-it-all attitude and insults. Don't allow him to take over this thread, just ignore or filter. Trolls feed on responses so don't feed. He's getting angry now, note the CAPITALS!

dusterhater . Oh dear, are you still at it, why not just grow up?

(troll looking emoji)

No definite answer to that one Bandit786. It could be they encountered problems that made drilling slower (it's only 2000m deep so should be very quick) or it could be they decided to drill slowly to ensure they reached TD after Heron, doubtful. Or, they found oil in the first target and needed extra time to investigate (they don't have to publish this until they publish well results on completion).
It is a bit strange but we will know soon enough.

Big buys rolling in to smother the traders sells. Has there been a leak???

Jrlomax

Posts: 1,950

Price: 7.90

Strong Sell

Mike31Today 12:57
It’s a duster, get out while you can.

I bought a pad in Thailand, not from PM but from Sea Lion.

I shall be very surprised if this not at least 12p by Friday close.

So much more to come, profit takers exiting with tiddly profits as usual, good for them, but this is going to rocket any day now.
Prepare for the mother of all WHOOSHES!

I would think people will be topping up, not offloading, as Heron 1 is an appraisal well with 75% CoS and could add 18p to the sp. I wouldn't sell with that around the corner.