Member Info for Coldjoe

Can’t really be late when we are under both placings and haven’t even started drilling this year, but good luck to you too

Although i agree rig news would be nice lol so it doesn’t end up like last year...

Also for derampers saying 2019 block XX will be dusters too because the previous drills in that area were, have a look at this https://youtu.be/oL9rbvLAjn4 MB says it was because they were too far from source kitchen and they won’t be doing same mistake again

Yeah a lot of derampers have turned up recently but not too good arguments, we are at just 40mil mcap from which half is cash and other assets, under both oversubscribed placings, only heron itself is more $80mil so how can we be overvalued? You say have a look at AAOG but that one looks really dodgy and RMP with no cash and only one 30% wildcat drill ? No thanks

the fact you know who fundy is proves you are fundy come on mate go bother some other thread....

they were actualy both before the first spud and they can't raise money for more drills if they haven't even done the one they have cash for now, nice try fundy

lol what are you on about

Hmm i would hope for at least 7p before the drilling starts, keep in mind they did two oversubscribed placings at 6.5p and 10p so still very low sp

Petro Matad 2019 Assets and potential:

Experienced CEO Mike Buck

2 cash raises last year at 6.5p and 10p both oversubscribed, current SP 3.5p (£22mil)

Current cash at around £18 mil

Fully funded 2019, 4 drills:
First drill Heron - Appraisal 75% CoS targeting 16mmbo, worth $80mil
Second Gazelle - Explo 50-75% targeting 13mmbo worth around $60mil
Third Red Deer - Explo CoS not yet communicated (40-50% ?) targeting 48mmbo worth $300 mil
Fourth Velociraptor or Fox - Wildcat CoS not yet communicated (30%?) both targeting 200mmbo worth one billion $$$

If this won’t get at least to 10p after Heron (lowest risk) hit I will eat my shirt

Well Heron is already proven so should be low risk, still worth $80mil though so ofc iam hoping for higher sp too ;)

I would be happy with 10p after Heron hit

wonder who the block seller is he has been going at it for the past two weeks, block buyer would have been nicer lol

Nothing much happening now and probably won’t be for a few weeks, might drift lower but I think 3p is decent buy considering how incredibly low we are. Can’t wait for rig news that should send us at least to 5p and hoping for 8p come Heron spud

https://www.edisoninvestmentresearch.com/?ACT=18&ID=23264&LANG=

I am quite happy that we will start this year with the lower risk drills, I think that all targets there are still big enough to give SP proper boost. Also 2011 SP shows that market is interested even in these smaller block XX drills. Mike said that the problem back then was being too far from the source kitchen which should not happen this time with Heron and Gazelle being right there. I am guessing Red Deer is the riskier one but should still be 40-50% CoS ?

Well I am significantly underwater as well and I don't think this is a ramp but the company still has some good value prospects next year. I am hopeful they will hit at least Gazelle (13mil) and Heron (is it 10mil ?) I would not count on Fox but Red deer looks like 50/50 chance. Has to be at least 5p next year before the drilling starts there is a lot of companies with higher mcap and less prospects. I guess it does not matter much but one raise at 6.5 and other at 10p is not bad either

btw in the audio https://www.petromatadgroup.com/wp-content/uploads/2018/08/SM20180710-presentation.mp3 Mike says that all five prospects in block XX are already permitted the only two we are waiting for is Fox and Red Deer just so you all know next time some wanker will says those prospects are not permitted yet.....

fair enough it is all about money anyway I do admit i got this one very wrong on the other hand i did invest in 6 drills so there is no point being so negative after first two that were the most likely to fail anyway. I will never invest in oil explo again I give you that.

well push its AIM oil exploration shit happens, I think Mike Buck is decent CEO, I am not a geologist but I can only hope they learned from their mistakes.... otherwise there is no point being so negative either you are invested and hope for the best or you are trying to bring the SP down otherwise you would be wasting your time writing such a lovely, informative long post

To all new investors here I recommend you to watch this presentation https://www.youtube.com/watch?v=oL9rbvLAjn4 Mike explains what happened with the previous 12 drills in block XX - they were too far from source kitchen, new targets are already proven oil bearing and right in the source kitchen..... I agree that its been disappointing so far but there is still hope of those low risk drills coming in including Red Deer (still48mil). Share price might drop down further in this current brutal market still can't believe we are at 17mil lol although it's been a huge let down

p.s ignore fundraiser he says everything is bad when he is out and when he buys in it is the best company in the world (happened about 3 times in 3 months)