Member Info for blissful

:( SPOILER ALERT :(

Beware, there is an idiot on the loose!

Yes, Mongolia want to be in charge of their own oil production or at least be able to bring in money from it, not to have China take the lion's share. Mongolia is in a terrible state at the moment with massive air pollution due to coal burning and this is a huge health problem. The government will want to back companies such as MATD as they are part of the solution. On days with no wind Ulaanbaatar and other cities are almost unbearable due to the thick smog. With their own oil and refinery Mongolia will be able to change all this. There will be some big boys waiting in the wings to join in, but at a premium. I can see the Mongolian oil minister saying, 'yes, but you could have taken a risk and joined in before now like Petro Matad. Expect the sp here to be £s, not pence by then.

Yes, Red Deer has a good CoS as well and this one should be of particular interest to the 'herd'!

I reckon somewhere in the 12-14p region by the last trading day of June, Friday 28th. Any other guesses?
Actually, I will say 15p.

Hi Manro. Lots of good points here. I think Heron is almost certainly going to hit oil (the art of positive thinking) and the rig will move to Heron 2, Heron 3 etc as someone mentioned earlier. This will give cash flow and will be a game changer as we will become a producer, not a 'roulette wheel'.
They have already factored in the need for flow tests and a good flow will take the sp quite high. Let's not forget we are looking at 25mmbo at Heron alone and most small oil companies would give their back teeth just for that.
The massive upside will come from block 5, even if it takes a couple of shots, we will have funds in place while the big boys play, 'please can I be your partner'. What exciting times.

MisterPositive. Good post. My thoughts exactly and I am glad you made the point that the oil is sloping towards our acreage as few have picked up on that. So many here do little research and don't even know the CoS!
GLA

Wait until they discover oil, the sp may plummet initially as mm's plunder those with stop losses and selling them on for double the price. Short term investing, looking for 5 - 10% can be a mugs game as many people forget to check the spread, not only for selling but for buying something else.
bonum. There could well be a farm in if all goes well. There is a massive acreage out there, too much for MATD on its own but any new partner will be whistling to our tune. Don't forget there was a farm in before with BG that ended on a technicality.

anova. Quite a few probably but that is because they have a very good chance of finding oil in commercial quantities. You may not know it but oil is something you can sell if you have a lot of it and the days of bartering have gone so you don't need to swap it for old saucepans or coloured beads. Using your brain, would you say that with a CoS of over 75% there is a good chance of finding oil? Now the biggy, would that make the sp go up or down? Take your time now and this is not a trick question.

https://www.youtube.com/watch?time_continue=7&v=vwg5tW00E6A

From Malcy:

Petro Matad
An update from MATD this morning where all appears to be going pretty much according to plan. On Block XX well site construction has commenced at the Heron 1 location which should be completed in ten days after which it will do the same at Gazelle 1 and hopefully complete at Red Deer 1 at the end of June. A water well is being drilled for Heron and Gazelle and also for Red Deer and the company consider that all necessary work is on time and will be completed by an electrical upgrade on the DQE rig in the first week of June.

So to spud dates, Heron goes first in early July followed by Gazelle with the anticipated drilling at Red Deer expected to start in the second half of July. With the company having submitted extensions for Blocks IV and V in April to extend to July 2021 to the regulator, clarification meetings are expected shortly. It is not clear from the announcement whether this is the reason for only having firm plans to drill Block XX at the start of this season but I assume so. (Also the key area at present is the appraisal of Heron and potential for Gazelle.) I hope to catch up with Mike Buck at some stage if he returns to these shores before the drilling starts…

Excellent update to calm of nerves of those who doubted MB had this one under control. Heron well construction will be ready in 10 days and the other 3 by the end of June! The fun is about to start. It seems we will be kept up to date with any news and not long to go until the rig is mobilised.

If Heron becomes a producer it will give them a cash income very quickly. Also, at a CoS of over 75% the chances are they will find oil. Then I would think there is no need for any dilution, even if they needed some extra cash in the short term they could borrow.
We may also find a queue of other companies forming, all chanting the same mantra, 'can we please have some of the action'.

This is one of the best kept secrets on AIM and people are looking back at past mistakes, low price of oil, potential partner restructuring and pulling out, bad timing etc without looking at what MATD are actually sitting on. I see Heron, Gazelle etc as the gateway to being able to fund some of the much bigger prospects although it seems they may drill Velociraptor this time around. Yet, Heron is transformational for the company on its own! What I can't get my head around is people selling at the moment, do they really lack the patience to stick it out a few more weeks? I am not complaining as I have been adding and now have quite a few, another top up and I will have a nice round figure. A couple of good results and I shall be a millionaire from Mongolia, haha, sellers, eat my yak!

If you have no confidence in the company and it's affecting you this much why are you invested here? It may be better for you to sell up and invest in something without any risk. The rig company may have gone belly up, run off with your money, unable to get workers willing to be paid in peanuts, the government of Mongolia may be going 'green'! There are lots of others worries to cause investor fear so you could soon be a nervous wreck.

If anyone hasn't seen this video on YT it is well worth a view, or another view as it does show how our patience could be rewarded, especially if Velociraptor comes off, with its 150mmbo. Heron and block XX could get us off to a great start with a multibagger but block V could send this share into orbit.

https://www.youtube.com/watch?time_continue=945&v=vwg5tW00E6A

They have signed the contracts for both rigs which shows that the problem has been sorted. The delay is due to the need for extra parts for the rig.

As per the last RNS:

'Petro Matad Limited (AIM: MATD), the AIM-quoted Mongolian oil explorer, is pleased to announce that it has signed contracts for two rigs for its upcoming 2019 four well drilling programme.'

I think things will get going once there is news of the rig starting to mobilise to Heron, with added impetus as the Red Deer rig starts to move to its site as well, pardon the pun. Well, well! With a current Mkt cap of £32m and potentially 25mmbo in Heron, a 75%+ CoS, there should be some excitement.

They won't give an RNS to say there is no news!

What news bigbench? We have been told to expect drilling in early July so it's probably too early to mobilse the rigs just yet.

If you are interested in doing some research here is a link to the Mike Buck presentation put out last month. Drilling to start early July, not Q2 as stated.

https://www.youtube.com/watch?time_continue=8&v=vwg5tW00E6A