The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Best get selling your shares then! Don't worry, there will be plenty of people willing to take them off your hands as matd moves to testing
It specifically says the wireline logs have shown there to be the potential of an oil reservoir, which is why they're moving to testing. So yes, heron is a success.
As expected, heron has delivered the goods for Matd! Hold onto your hats guys, gonna be a great a day for shareholders!!
11p would mean only a 69% rise from our current sp. Whilst it's possible that will be the end of trading sp on a heron strike, I personally believe heron will send us to c. 20p on discovery. The difficult variable here is sentiment and bullishiness could easily send us on a 200% increase given that we own 100% of the license.
I believe all contrarian views should be welcome. However, if you could kindly corroborate your post with geological data that confirms why heron (in particular) is a duster, then please feel free to share. I welcome your well reasoned and analytical views.
Hi All,
Haven't posted in quite a while as I've unfortunately had a turn of ill health over the last few weeks. Lots of activity happening with Matd I see, also lots of new faces have joined us who I don't remember being in earlier in the year. Anyway, it's an incredibly exciting time for all share holders and now would be a good time to remind all of us as to why we're in this share:
Heron- 1.1km away from T19 46 3, on the same incline as this well and the high quality 3d seismic (as provided by Petro China) proves the well is an extension of the T19 46 field.
Heron results, expected w/c 09/09, Red deer in mid september.
Half year results reiterated that the company is fully funded for all 4 drills. If you want my opinion, that was the last time Petro Matad would have considered issuing an equity raise to the market.
So why did we not get a placing this year? Again, in my opinion, it's because Mike and the team are damn sure there's oil at Heron. The team know it, Petro China are likely confident about it (as evidenced by the fact that they collaborated with matd) and so future cash flows will be generated via a unitisation agreement.
Never has Matd been so close to success. The data they've got is beyond any type of due diligence you could normally expect for an exploration well. And on top of the seismic data they've been working on, they've got roughly 10 years worth of knowledge and experience from the DT wells which did prove oil was in the vicinity.
Next week my friends, we will have our day :)
At this point any update from Mike would be welcome. This schrodinger's cat situation is nerve wracking.
Agreed. As tough as it is to admit it, the lack of news really does not look good for matd and its crucial the company let's investors know what's going on.
Nice find Bynari. Presumably the inference being if heron was cancelled the company would not be listed on that link?
Good for you! So lovely to hear a success story. Of course no one here believes you're in support of the company so carry on. Yawn.
By all means exit if you don't believe it will be resolved. Why else would you be here? The door is open.........
An rns this coming Monday confirming all is well with heron would be ideal vanheka.
Agreed Flava. It's been a tense week for all of us and I think the best thing to do right now is to have a drink and enjoy the weekend, so on that note I'm off to the pub. Good luck to everyone here. We may disagree sometimes but at the end of the day we're all here to make money so in that sense we're all in agreement.
How can it possibly have been an oversight when the company followed all the regulatory requirements and would have doubtedless had legal counsel on what the correct paperwork was for the drilling? No company can prevent unforeseen risks like this. To suggest otherwise is baseless and is really just indicative of a very simple worldview.
Your maths is wrong. At 12k per day, monthly costs are 336k to keep on standby. £1m would therefore mean the rig would need to be on standby for 3 months. Why would the board allow that? There is no indication that this matter won't be resolved quickly and until an rns emerges stating otherwise suggesting that is going to cost the company up to 1m in costs is laughable.
Interesting post blissful, although I would argue the issues Petro China had are different to the ones facing matd. That article suggests petro China had to sort out a variety of issues related to employment of locals, ensure proper safety standards were in effect and to ensure that the environment wasn't being damaged in any way.
The last rns from matd specifically said that the issue put to the company was around a land use agreement of the heron site, which is much more specific than the challenges put to Petro China. I would therefore argue that matd's problems are simpler to resolve and should be in hand shortly.
Our current sp is the direct result of the rns confirming heron has been suspended. As soon as a new rns is put to the market stating negotiations have been concluded and heron is back drilling, its anyone's guess as to where the sp could move forward, propelled as it would be by positive sentiment. Stating arbitrary ceilings for the sp are pure speculation. Fun of course, but they don't have any credibility as serious estimates.
Was there ever any doubt we'd rise from the ashes? :) haha, seriously though great to see sentiment is back on full blast. Go matd go!
Agreed Wallact. Looking strong on all cylinders right now!
Great to see the surge is gaining momentum. Next stop, £1 please haha.