Petro Matad CEO Mike Buck confirmed that he believes the Exploitation Licence for Block XX in Eastern Mongolia is likely to be awarded in Q2. Watch the full video here.
Thanks Donkee and Ojay. I can only say in my defence that I was always influenced by the big picture, the potential that Matd could be a player. I think we all know that we all should have sold as soon as that numpty agreed that finance deal with Bergen.
The big picture still remains though, and although it remains quite fuzzy it's beginning to come into focus.
I'll still be looking in, stay safe and hopefully one day we can all enjoy the rewards of our patience.
Hi Ojay. I'm still here. Haven't abandoned Matd, stopped posting as the board became so poisonous and I was really disappointed in snow leopard. Great news last year and I'll stay with Matd till they bring up the black stuff. I probably won't post again but I still have great faith in the project. Take care and good luck everyone.
Hi Chesh, Hi trillsg. Glad to see you are still here.
I am still very optimistic about this company but I think we are all going to have to wait just that bit longer for the results of the WA audit.
In my opinion the three month schedule was a timeline given for the good doctor to complete testing on a larger scale prior to submission to WA for auditing. Hopefully I'm wrong in my interpretation of the RNS from 18th Dec but in the event that my opinion is correct it would be better if we were prepared for a slight delay to the actual audit.
Anybody getting in now will be at a bargain basement level, I just wish I had the funds available to average down because we all know when the first revenue stream happens, the sky is the limit.
Difficult to be positive, given the length of time most of us have been invested here, but I remain highly optimistic that Axm will deliver.
Have a good one. I'm away to finish the decorating.
Hi trillsg. Still here, keeping the faith.
Taken a step back, that's all.
Gotta keep faith that your path will change
Gotta keep faith that your luck will change, tomorrow.
Went to see 'James' live at the Hydro in Glasgow in December. Fantastic.
Hope you and all us long term sufferers are keeping well and that 2019 makes us that little bit wealthier.
RNS 16th Nov 2016
Â Â Â Â Potentially generated hydrocarbons using the play and basin analysis method on the 6 high-graded key basins is estimated to be circaÂ 90 BILLION barrels of oil in the Upper Jurassic-Lower Cretaceous play, which is the proven and producing petroleum system in Mongolia. Â The volume of potentially trapped oil ranges from 9 to 23 billion barrels of Stock Oil Initially in Place (STOIIP), assuming trapping efficiencies of 10% to 25%. Further upside potential exists in the deeper Permian-Jurassic play, which is analogous to the prolific systems in the western Chinese basins. The remaining six other sub-basins and other areas with limited data coverage will be the focus of future new seismic acquisition to determine their prospectivity potential.
All open to interpretation. Implications made but no specifics.
Our tech has been a game changer for as long as it has existed it's just that it targeted old metals with established processes already in place.
But Lithium is a metal of the future and as I am currently watching a documentary on the band Suede I'll bastardise one of their singles and say "we're in fashion".
Still confident here, hopefully news soon. GLA
Mongolia has oil, the Chinese have proved that's the case in block XIX.
We are the only exploration company operating in Mongolia.
India and Mongolia have committed to a $1 billion investment in a new refinery and it's not to process the oil from block XIX.
Who does that leave, ah yes that would be us, but if you can't invest your money for more than 30 seconds don't bother.
White horse might deliver, it might not but Matd will deliver at some point and any strike is worth way more than the current mcap.
Patience is the key here. IMO
If you can't wait then take your money elsewhere but restrict your comments to where you are invested because if you can't wait for a time line to be completed then any negative comments are instantly open to be dismissed as flagrant trolling and are quite frankly indefensible.
Let's hope that this time the ones that are invested receive suitable rewards for our patience.
Best wishes all those that are here believing in the company and their objectives.
That's a pretty good patent we've just been granted, especially when companies are going nuts for the lithium and cobalt in the German mines. Good article posted below.
It's knitting together imo.
I never thought that the opportunity to invest here at these prices would ever be available again.
Even during the Bergen fiasco we never approached this ridiculously low price.
We are now drilling one of the biggest basin opening wells in the world with funding still available to drill appraisal wells in the event of failure.
Matd has put itself in a position to succeed but the market has yet to appreciate that.
If white horse proves to be successful we still have multiple millions of dollars in reserve to make the correct decisions in moving forward in the best interest of share holders which puts us in an extremely strong position of negotiation where farm in partners are concerned.
We might not see the true potential returns this year but Mike Buck has put us in a solid stable position for forward development imo......but if WH hits then who knows.
Have a nice weekend all.
Morning trillsg. I think they would probably wait until approval from the Turkish authorities has been given before issuing an RNS.
"The shares will remain “in trust” with Deep-South’s legal advisers until the Ministry of Energy and Natural Resources of Turkey (“Ministry”) has notified its acceptance for the transfer of the shares of Quantum. The procedure for the acceptance is well advanced."
Things appear to be finally coming together.
Have a good one
So the company we engage as auditors to our Lithium tech are promoting us at the world Lithium mining conference.
Wow, just wow.
What an endorsement. Not only did we get a positive result this week with Turkey but independent auditors of our tech are associating themselves with our Lithium process. This is big, sorry not just big but BIG!!!
Waddell Armstrong have connections all over the mining industry and they have just technically endorsed our Lithium process.
This could be huge.
Then again this is AIM and no one gives a hoot.
Glad I'm invested.
Further to my previous post in support of my supposition is this regarding disclosure by aim companies
AIM rule 11 which is
"“An AIM company must issue notification without delay of any new developments which are not public knowledge concerning a change in:
its financial condition;
its sphere of activity;
the performance of its business; or
its expectation of its performance,"
Part 4 relates to its expectation of its performance.
MATD's expectation is that it would expect to discover oil on the Snow Leopard drill. If the drill was a duster then AIM would require Matd to declare a dry well. That has not happened because either Sinopec are yet to reach TD or hydrocarbons have been found.
So at present we can either believe that Sinopec have totally botched their drill or there has been a discovery of some kind.
Considering that Sinopec are a world class drilling company I find it hard to believe that the drill has been a feck up.
I can only deduce that oil has been found or we would have been told otherwise by now as per guidelines.
I must say I fail to see why there would be any other reason than a discovery that would have have prevented a news release before now.
Sinopec are a world leading drilling company with innovative technology at their disposal. They have drilled the deepest drill in Asia at over 8000 metres in just over 100 days. Their average drilling speed equates to over 60m per day. Our TD should have been met at circa 52 days.
What prevents a release of news. Is it a duster? No it most definitely is not. A duster must be announced as it is outwith the company's expectations and therefore must be declared whether logging is required or not.
Is it that oil has been discovered? It most certainly is. An oil discovery is within the company's expectations and doesn't need to be declared as Matd stated that an announcement would be made on completion of drilling operations.
So why is it taking so long, let's look at MATD's presentation of Snow Leopard to find out
Large upside potential in trapping style proven productive in Mongolia
▪ Snow Leopard has 2 main target sections with c.90MMbo recoverable potential (mid case) *
▪ 3 or more additional stacked pay zones identified as potential upside
▪ If shallow turbidite concept is proven then a large (200+ MMbo) combination trap play opens * ▪ TD 3350m. Well cost c.$7MM *
▪ Success de-risks 14 prospects/leads with resource potential of c.500MMbo *
The only reasonable explanation to the delay in reporting results of Snow Leopard is the above. In my opinion the above estimates of Snow Leopard is why we are still awaiting news as it it remains within the company's expectations.
All in my opinion, but considering that Sinopec are a world class drilling company with published average drilling rates vastly exceeding the estimates at Snow Leopard then the only explanation I can provide is that the expectations Matd announced have been met and possibly exceeded.
Time will tell but I am becoming ever more confident.
Best wishes to all and hope it all works out for us.
Does anybody know what this RNS, released by Aker solutions this morning, mean for NUOG
Today is day 70 of an estimated 70 day drill completion at Snow Leopard and I would suggest that the probabilities of success prior to the drill to now has changed.
A success case of 20% was generally agreed prior to drilling but there are a number of factors that need considered now which suggests the success case is now a lot higher than the original estimates.
1. Matd committed $7m to this drill.
2. Sinopec advertise that they can achieve an average drill rate even during ultra deep drilling of over 60m per day.
3. Sinopec should have reached TD around day 52.
4. The last eighteen days could have been used for wire logging and testing.
5. Why test a duster?
6. Wild Horse is the main target and a priority for Matd.
7. A duster at Snow Leopard would have seen Matd pack their bags and move on as quickly as possible.
8. Only a successful drill would keep Sinopec and Matd at Snow Leopard beyond TD.
All in my opinion and I am quietly confident of a positive RNS this week.
Could be entirely wrong but I don't see any reason for a duster not to be announced before the estimated completion of activities at Snow Leopard unless Sinopec have been really slow with the drill bit.
Have a good week folks, whatever happens.
I think it's also important to note when ****ging off the board and the CEO that in the official fundraising announced on 19th January..."Certain Directors and management of the Company have subscribed for 7,756,017 Subscription Shares in the Fundraising to raise gross proceeds of approximately US$700,000." Mike Buck himself bought 2.7million shares.
A further 5 million shares were bought by other directors and management.
If certain people believe that the board and management of Matd have the sole mission to f*** up at every opportunity then they must believe that those representatives of Matd that took part in the fundraiser spent a large chunk of their salary to shove a dildo up their arse.
Come on guys, can you really question that Mike Buck and everyone involved is not doing their absolute best to make this company a success?
Lack of information provides doubt, I get that. But they all took a leap of faith and put their money where their mouth is. I am more than comfortable to remain invested as I believe they are doing what they can to be successful so that we can all reap the benefits.