Member Info for blissful

They have missed a deadline with no explanation so the sp will probably fall.

Up 12.3%, a few more days like this please, followed by a very whooshish RNS.

From the advfn site:

Leak?
Pro_S200930 Jul '19 - 12:11 - 2592 of 2600
0 0 0
Well.........its possible.

The Chinese reckoned they could drill and log in 19 days, and if thats the case, they would be in the target zone now.

However, thats a wee bit fast compared to what the company said........but end of the day the Chinese are doing the drilling.

I doubt it is a leak, volume is still very low. Looks to me just like some position taking ahead of potential news from 12th August onwards.

flava. There is a 500m no drill no man's land zone either side of the border so there cannot be a PetroChina well that close, it has to be 2X500m, or 1km, and I guess to be certain they gave a few extra metres.

Off hand cosmicl, I remember MB saying that he could only put 75% on it as that was the highest allowable CoS in the industry. He hinted it was much higher and I remember him saying, 'we will get some early runs on the board', or words to that effect. I think that was in the spring as he was hopeful of a May start to drilling.
Added to all that, why would there have been unitisation talks if PetroChina were not certain of oil and just needed it to be actually proved up before progressing the talks? They freely handed over the important seismic information and in my opinion they want PM to succeed because they want the oil for their refinery which is currently running at below capacity. I believe this seismic has shown us exactly where the best drilling locations are.
My main concern regarding failure is a hit from a meteor or a missile from N Korea landing in the wrong place!

I hope you haven't made a big loss CS. It's not good to wish that on anyone so let's not go down that road please anyone.

Obilex, the mm's are not desperate but they have the same information as us so it is in their interest to keep the price down and allow people to sell cheaply. They know if the RNS for Heron is good they can double their money on opening. We know this is too cheap but obviously some sellers have allowed fear to cloud their judgement.

Now the mad scramble to get back in.

Here's the link again, well worth another listen.

https://www.youtube.com/watch?v=vwg5tW00E6A&feature=youtu.be&t=1516

He (the rig contractor) can drill the well in 3 weeks because he has drilled lots of wells in this basin. We think... er... let's say four or five because he hasn't worked for us before.
This time period does not appear to include any testing in the event of a discovery. That seems to be separate.
In the RNS 19th July he writes:
'The well is expected to take up to 40 days to complete. In the event of a discovery, the Company will bring in a separate rig for testing. A call-off testing contract has been signed, which ensures testing operations, if warranted, can commence soon after discovery.'

Also, does anyone seriously think there will not be a leak if they find oil? They are so close to the Chinese border and information will probably leak out within minutes.

Obilex, the operator says 21 and PM say 40 days as it is the first well with DQE. I think it will be sooner than later and PM are just giving themselves plenty of wriggle room so they are not accused of delays.

I hope so as August starts on Thursday and I don't think they will wish to announce another delay.
As for Heron, as referred to below, the operator may well have all the local knowledge to give us an early and positive result. The week starting 12th August is likely to be very whooshish (new word to describe the rise is sp of PM).

But on further investigation, why if you have sold out here and invested in BLOE CS, have most of your comments been on this board and not on the BLOE one. You wouldn't by any chance have panic sold some BLOE and want to get in cheaper here, would you? Of course not. And why haven't you been suggesting over there that BLOE, who are also fully funded like PM, might be about to pull the rug from under everyone and do a placing? Hmm...

I thought CS had sold out and put it all in BLOE. If so, maybe a good idea to stop infesting this board with comments about him and concentrate on the next few weeks in the life of Petro Matad.

Yes, time to get moving and after all four drills, unless they drill Fox which they won't, they will have money in the bank. Each future Heron well will cost under $3m, nearer $2m actually and with unitisation with PetroChina this will fall to about $1m per well. Where on this planet can you get such a bargain???
Unitisation with PetroChina will also mean an almost instant cash income, what's not to like with that?
Incidentally, PetroChina have freely shared their information on Heron because they know there is oil there that will run their refinery to its maximum capacity. That is why this is an appraisal well, given a max CoS of 75%, the highest allowable.
In my opinion, anyone claiming there will be a placing this year is either stupid enough to have done little research, a deramper or very jealous they are not invested yet.
No smoke without fire.
As the CEO said, 'we can get some early runs on the board.'

Please stop being so obsessed by one other poster. Trying to take a swipe at him will only add drivel and turn this thread into utter garbage.

Sorry, 34

Maybe it should be, 'up to 36 days to go until well completion.'
We are likely to know initial results before that I suspect. The rig company reckon on 21 days to TD if there are no problems.

Dowzzbwa. One word, 'Unitisation'. They will team up.
They have already had talks and are just waiting for oil at Heron.