Member Info for blissful

Not in here yet but it certainly looks to be a good bet, I like Malcy's write up, great to see the possibility of a 4% dividend, but will do some more research before committing.

It could easily go beyond 50p and Velociraptor could make £1 seem cheap but let's concentrate on first things first, success at Heron 1.

As I recall Heron on it's own is worth about 18p. However, as it is so easy to monetise very quickly, it could become more valuable in that it will enable the company to drill other prospects without fundraising after these four wells. And due to the likelihood of unitisation with Petro China, the drilling costs on the Heron prospect will fall dramatically.
Furthemore, we know there are 'eyes' watching with a view to a farm in, a decent income from Heron will increase our chances of getting a deal(s) on our terms.
For these reasons I think it is difficult to put a price on Heron and we will have to see how things pan out.

buccaneer1961. Who knows, but not as much as before, initially 20-30p at a guess. Red Deer will add a fair bit more, 50p+ possibly. They have a lot more seismic and understanding of the basin. Here's a blast from the past:
"DT-4 was sited and spudded before the re-interpretation of the 3D seismic survey and it was designed to solely target the Lower Tsagaantsav formation within the greater Davsan Tolgoi complex.”
The shares - which rose 75 percent in the month leading up to the 2011 field programme – eased 3 pence, or 1.7 percent, lower to trade at 169 pence a share.

cosmiclightning. Page 10 of the presentation shows the position of DT-4 relative to Heron and why they missed the main target.
https://www.petromatadgroup.com/wp-content/uploads/2019/06/Corporate-Presentation-28_06_19-Petro-Matad.pdf

cosmiclightning. I think Mike Buck said in the past year or so that it was on the periphery, with oil but not commercial. Don't quote me as I don't have the reference to hand but I am 99% certain. The new targets, Heron 1, is much better placed which may be why he is so confident of 'early runs on the board.'
16/5/2011
14:42 Petro Matad (LON:MATD) has now drilled through all of its targets in the Davsan Tolgoi-4 (DT-4) exploration well. This is the AIM-listed explorer's fourth well in a row to successfully find hydrocarbons, but crucially this is the first one to target this particular part of Block XX. Earlier this month it confirmed live oil shows in the well's first target, the Lower Tsagaantsav reservoir. Now this afternoon Petro Matad confirmed that it has found significant hydrocarbons in the deeper targets. Petro Matad said that initial core and petro-physical analyses indicates that the interval contains approximately 90 metres of reservoir quality sandstone with an average porosity of 15 percent. "The discovery of significant hydrocarbons in DT-4 highlights the prospectivity of the Lower Tsagaantsav formation, particularly as it tested an entirely separate structure from the previously drilled Davsan Tolgoi anticline," chief executive Douglas McGay said. "This is a further step in our knowledge of the reservoir and its potential resource." The well was designed to test a four-way closure in the Davsan Tolgoi Shoroo Prospect ? which has previously been referred to as Davsan Tolgoi West. http://www.proactiveinvestors.co.uk/companies/news/28274/petro-matad-discovers-significant-hydrocarbons-in-dt-4-well-28274.html

The Heron 1 rig is on the move!!!

Heron will spud before mid July

This is a useless site for links, go to ********** Podcasts.
This may not work either so you may have to check your Twitter
https://t.co/vBsUXEbsc2?amp=1

1 minute 25, Mike Buck

****************************/articles/petro-matad-riverfort-global-opportunities-and-alan-green-on-4-small-caps-25ab3d9/

Something's up, some big buys so someone may have heard something. Perhaps the rig is on the move at this moment. Number 10 on the stock market's leader board, now there's a nice surprise.

Not long to wait, this is about to kick off big time! People will be jumping to get in now, you have to be in it to win it!

Good to see a change of colour!

Hold on, have we had a sunny day yet?

Yes it does, and we were told by MB earlier this year, 'the first sunny day'. Hmm...
I don't think they can know the spud date as they need the rig on site and assembled.

I wonder what is actually happening. Has someone else been using the rig, if not I cannot believe they would just be hanging around doing nothing with it when it should be mobilising. Originally, it was supposed to be a May drill as soon as the weather had warmed up, they had all winter to put the paperwork in place but for some reason May was not possible. Then early July, then just July...

I guess the interested parties will stay on the sidelines until we have a success. This is from last year.

'In parallel with operational efforts, the farm out process has progressed and discussions are continuing with potentially interested parties. There is no certainty that a deal will be completed at this stage and a further update will be provided as appropriate.'

Another good post on advfn, nothing we don't know but just two good results could send this up this to 50p.
Heron-1 is 25 million barrels, 100% owned. That equates for MATD to around 18p a share.
Red Deer-1 is near 50 million barrels, 100% owned. That equates to MATD to around 32p a share.
As it's all onshore and very close to existing infrastructure its cheap and quick to bring production on line and the IRR figures are good.
Mongolia has a fabulous system for any oil found, you can deduct not only the cost of finding it, the cost of extraction and also the cost of sales......any oil discovered in Mongolia is very valuable to the company producing it, more so than most other places in the world in terms of net cash back to the company.

Good post by Pro on advfn site with map from presentation:

Petro_Matad
Pro_S200929 Jun '19 - 01:56 - 2426 of 2427
Heron-1 has to be pretty much a dead cert as you can get, something really extraordinary has to happen for this one not to strike oil and catapult MATD up to 20p levels........with Red Deer-1 being the rocket booster to 50p levels if that one comes in as well.

Hamm.
They have made this into a fairly useless site now as it's difficult to load share discussions without it saying, 'Page not found
We're sorry but this page no longer exists.'