Member Info for blissful

The last conference call from about 17 minutes in spells this out in simple terms - we are basically going to be drilling into oil! With the presentation map of Heron you can see they would have to do a Laurel and Hardy to miss.
My end of month target of 15p before spud still stands although I may up it a bit to nearer 18p.

There have been quite a few presentations and conference calls, not just one cash2. They are on the website but I don't have time to trawl through them all to find the relevant one. Here are the latest eight or so.

Presentations
Event
27 March 2019,
Oil Capital Conference, London

Presentation (video) by CEO, Mike Buck
11 March 2019 Corporate Presentation
11 January 2019,
Investor Meeting

Presentation (Audio) – CEO, Mike Buck
10 January 2019,
Mongolia

Corporate Presentation
10 July 2018,
Shareholder Update Meeting

Presentation (Audio) – CEO, Mike Buck
25 June 2018,
Mongolia

Corporate Presentation
14 March 2018,
Oil Capital Conference, London

Presentation by CEO, Mike Buck
Presentation (video) by CEO, Mike Buck

5-9 February 2018,
NAPE, Houston

Presentation by Exploration Geologist, Justin Tully
1 February 2018,
Shareholder Update Meeting

Presentation (Audio) – CEO, Mike Buck

Thanks Jimithebrush, I knew it was about 50% but couldn't remember where I'd seen or heard it. 50% is not bad and not like SL or WH which were considerably lower.
Roll on Monday!

I read somewhere that CoS at Red Deer is about 50%, I think it was in one of the presentations when they said
between 50% and 75% for the three of them but do not quote me.

Why would PM want to sell when they can make a lot more by expanding our acreage. PC probably have a lot of other targets to drill elsewhere. The other point is that Mongolia want this under Mongolian control, not Chinese.

Lots of info on Red Deer on the website and presentations. Here's a tad:

Red Deer Prospect - Block XX Southwest
13
? New basin opening well in Asgat Sag, 100km southwest of existing production
? Targeting Early Cretaceous Petroleum System proven in surrounding basins
? Outcrop and shallow borehole data confirm presence of oil prone source rocks
? Basin centre 3-way dip fault bounded closure
? Attractive resource size with significant follow up potential

Heron has been upped to 25 mmbo. Check out at about 17 minutes for Heron, the first to be drilled this July.

If you need to diagrams, stats in writing etc you can see all that at the website:

https://www.petromatadgroup.com/wp-content/uploads/2019/03/Corporate-Presentation-11_03_19-Petro-Matad-2.pdf

Worth another listen and for anyone new or not up to snuff, well worth a listen.

https://www.petromatadgroup.com/wp-content/uploads/2019/02/Petro-Matad-Investor-conference-call-11.01.19.mp3

I am hopeful of news next week, perhaps Monday, perhaps another day. It will take a few days for the mobilisation but first the site has to be ready and maybe that has not been accomplished yet.
My opinion is that we should be at least 10p by now, that was the placing price, and the reason the sp fell so far was the long delay in getting block XX drill ready (this was supposed to have done last summer!) and the 2 wild cats which were never planned to be drilled without block XX as a safety net.
Once people really do the research and look at the facts it will rise to a sensible price with scope for a bit more as the drilling is nearly upon us. That's why I thought 15p fair value for the end of this month.
If we look beyond the success scenarios of Heron adding 18p to the sp, Red Deer 32p and Gazelle 8.5p, we can see that because they can monetised very quickly, and the wells are only costing between $2m and $3m, we will be self funding. That means we can turn our attention to block V where the uplift will be measured in £s, not pence.

I bought GKP years ago when there was oil seeping from the ground. The sp was in single digits, 8 or 9p or thereabouts. I stupidly sold at 28p, what a mug!
I bought RKH at 35p and sold at £3.80.
I bought MATD at a variety of prices from 3 and a bit pence, 4 and a bit and some at 13p last year. I may sell a few around 30p but I am expecting great things with most of my holding. This sort of opportunity is quite rare and I don't want to blow it by selling too early.

:(SPOILER ALERT:(

Another one with a lack of factual information.

Hertstrader. They were supposed to do these as well but there was a problem with the rig contractor. Rather than cancel all the drills they decided to go ahead with the wild cats on their own.

Volume picking up now.

Sorry, here's the link:
https://www.petromatadgroup.com/

For anyone new watch the YT Video so you have all the relevant info to hand:
https://www.youtube.com/watch?v=vwg5tW00E6A

Of course, Gazelle could easily give us a hat trick of hits.
From the presentation:

Located immediately up-dip of proven oil and ideally placed capture migration from kitchen to the northeast
? Structural configuration the same as 19-30 Oilfield on strike to North which is PetroChina’s best producing
field. Reservoir improves westwards, favouring Gazelle
? Adjacent infrastructure facilitates quick development in the event of success

Let's not forget the Red Deer has a really good CoS as well and multiple strikes could become fact during August.
What's not to love about this?

It should take off next week as more try and scramble aboard while we are still in single figures. Because of the fact that Heron 1 is such a good prospect with a CoS of 75% + and the fact the oil appears to be sloping back down towards Petro Matad's acreage I suggest 30p would be a conservative figure for a decent strike. That would enable them to get Heron 2 drilled and producing as well (pardon the pun) soon after.
I am still sticking with 15p by the end of June and even that is cheap as chips.

I have held for over a year now but bought quite a few more at 3. something (forgot exactly) and then added a couple of times last week and then again on Tuesday.

Ouch, once again the sellers are being locked out for selling too early without looking at the fundamentals. Still, if someone is happy with a tiddly profit, so be it.
GLA