Jimi, Its not the weather that you need to worry about...Its management being able to get their sheet together to obtain permits, Secure rig contracts, worker visa's etc. & hit the ground running for mobilisation in Qtr. 2....I'd be surprised if they are mobilising prior to May TBH...
Don't believe me? Just read last years Operational updates for some background
SBB1 I really admire your enthusiasm for this company but would raise a cautionary flag to you. I wouldn't for a minute assume that this company has the cash reserves you & others believe they have. The cash position will be seriously eroded by ongoing operational expense...I said this before ..these guys blew $9m in 2017 before they even started getting anywhere near to drilling.....Capital raise coming...as is sub 1.5p
You'd be best to wait until Feb or March to top up if you believe there is a hint of a rise.....Each year that these jokers fail to deliver the goods the historical patterns of SP rise close to Spud diminish in magnitude from previous years...
1p on the horizon....A capital raise in the new year...If you don't believe me wait until their half yearly report shows the cash burn on this lifestyle company...We should let our votes count at the next AGM if we can
Mikey I feel for you & others.....You are starting to see the light with this company...An abysmal track record to say the least. Anyone seriously believing this share price will resurrect before they start drilling in the new year is deluded. As for the 4 wells fully funded - seriously doubt it. MATD blew $9.9M in operational revenue in 2017 before they started drilling so it will be interesting to see their financial position when they produce a half yearly.
Here's where its going - Post Xmas to May a SP of at least 1.2p-1.5p...Then we will see some delays with contracts or permits or some other excuse that will see them delayed in starting to drill. I strongly suspect a further capital raise & further dilution possibly by May or June (if Insto's are stupid enough to buy in).
If they do strike oil then depending on the proven resources it should lift to somewhere in the 20p - 50p range. Further strikes will naturally see a re-rate to a higher position.....That is IF they strike oil.
They have demonstrated that they are not able to interpret data very well. Furthermore to blow Millions of pounds on targeting speculative drills to "prove up" said seismic data is bordering on insanity...All with investors money BTW....They have very good prospects close to producing fields - Why haven't they tackled these first before moving on to other lower COS Targets?...SMH.
Anyway good luck to everyone and hopefully somewhere along this journey you can recover some of your losses
T-23 since Oct 23rd .....on an anticipated 30 day program (and I say 30 days because they have moved to 24 hour roster).. So....7 days out from TD...and the share price slumps (well its been in long term downtrend for a while) They may an early indication that its a duster but they may also be about to pull up stumps...Remember this has been done by them before.....Anyway if you don't hear anything from them by next Friday then I'd put my money on a duster
That's my understanding...However there is also the risk of equipment (pipes/hoses) failure through freezing in the event of an unexpected cease to drilling (emergency maintenance). The water is also most likely sourced from a well so not sure what you can do to heat the water when trying to take it through any sort of semi-permafrost
Anywhere from a week to 2 weeks..... research it.....minimum of 3 plugs required (if Mongolia is similar to the rest of the world)....best case they finish late this week.
Lets say another week to deliver all kit to site.... (assuming the roads are unsealed and it takes 2-3 days to cover the 450kms). Then another 10 days to construct the rig and accommodation. They wont be a position to start drilling until mid Oct, even if it takes them 25-30 days to hit TD this looks like a mid / late November date to complete......Oh then add another 7-10 days to plug and demobilise...That's late November peeps
I'm afraid this won't go anywhere North until an RNS says they are drilling WH.....I can only assume you are hoping for a self fulfilling prophecy with that kind of rhetoric....Wild ill thought out commentary like that puts you in the same category as the handful of true matadors who frequent this board... Please add some constructive, balanced insight or analysis rather than these wild comments......Conversely if they announce a halt to Ops then watch it test further depths as the money leaves this share for more attractive opportunities
Not sure what you mean by semi winterised it either is or it isn't ....A drill rig prepared for winter operations..... Isn't it to do with keeping the drilling fluids from freezing, constructing suitable access roads, installing a pad and suitable accommodation rather than any issues with drilling into the permafrost?...Surely rock is harder than permafrost?
agreed Wildone,
Strongman...I've been with MATD since 2011 chased it up, chased it down. Seen the rampers, de-rampers and the ever present lies from the previous BOD and the present.....I'm not chasing a lower entry price for gods sake.(I'm waiting for an exit point that allows me to retrieve some cash from my 2011 entry point .. I have enough sunk into this share...I'm waiting for competent management to plan and deliver to a well thought out plan.
Once again dear sir, you are reliant on comm's from a company that is delinquent in its ability to adhere to timeframes communicated to the market.
Cast a pragmatic eye over the logistics to get a rig mobilised in a remote area with bugger all roads, radio , supplies and other necessities to commence a drill for 50 days (who believes a 35 day timeframe?) in the -5 /-10 degrees range...peleeeezzzeee?
Monday?Tuesday?.......or serious decline over winter (already wrapping its cold cloak over Mongolia) and perhaps a bounce/awakening in Feb... assuming they haven't squandered the cash on expensive salaries to recently appointed board members...Who can say?... manro? or that complete snake oil salesman P may wish to contribute?
Go away you fool...unless you and your kind can contribute balanced commentary to the forum you and P (for Pish) need to be hounded out of MATAD town pronto....oh wait...apologies the Buckster will f*ck it up for everyone anyway...bang away
Manro!.. good lord you have the balls to show up and comment. Welcome dear bullshitter please feel free to tell us which planet you're predicting this share is going to land on in the coming days....good god you amaze me.