Member Info for flava

Petro Matad Limited

Operational Update

Petro Matad Limited ("Petro Matad" or "the Company"), the AIM quoted Mongolian oil explorer, provides the following update on the Heron-1 and Red Deer-1 wells in Block XX, eastern Mongolia.

Further to its announcement on 14 August 2019, the Company reports that all processes for obtaining the land permits for the Heron and Gazelle well sites have been completed and issuance of the permits is waiting on final signature by the local governor. In the meantime, operations are continuing as normal at the Heron well site and based on current performance the drilling and logging of Heron-1 are forecast to be completed around 9 September.

Operations at the Red Deer location are proceeding as planned. The well has reached its intermediate casing point and preparations are underway to drill the next hole section. The Company confirms that the land permit for the Red Deer well site has been obtained.

Further updates will be provided in due course.

Ok - what’s the likely chance of two sells exactly 2,099 shares?

Why do you think Someone is manipulating the SP? The last two sells exactly the low price.

I agree, looking at the sell patterns clearly shows someone wants to buy big at low price.

We should be back to 9p after confirmation of signed deal by local government. Early next week or Tomorrow morning guys. Then we’re into reality mode after that which I think should be around 15p before the good news.

Do your own research and make your own investment decisions. Good luck everyone.

I’m 100% committed for the best outcome.

It made me lol - nice one Mrs MB.

Cautious11 - I think you’re on the wrong board.

Mate it’s not 50/50 - there’s a 75 percent chance of hitting black gold. You need to be more optimistic, that is if you have invested.

I’m extremely positive that we will have exciting news coming our way! Everyone please hold tight - We will be rewarded for our loyalty and commitment. Look forward to celebrating with you all! I hope to arrange a big New Years party to celebrate our long awaited success.

macd_91 - Spot on mate. I’m all in for the rewards:)

Next RNS due any day...

Then we should be around 12p - 15p by end of next week.

10k

My large buy disappeared...

Here's the online link:
https://www.thetimes.co.uk/edition/business/drill-down-from-paradise-papers-leak-hits-glencore-3wrclhz0m#

Manor - I agree 100% that Matd is undervalued at moment. Looking back couple of years the rise was 20%, 30% and 40% sold days without multiple drilling campaigns. Now we’re in the situation hitting black gold.... I’m very positive about this time and I will top up more in coming days. Good luck everyone.

I think we should be over 8p once the signed agreement announcement RNS.

The central and provincial governments signed agreement is expected to be executed within the next few days.

Obelix - Here you go mate:

https://www.proactiveinvestors.co.uk/companies/news/4609/petro-matad-biggest-shareholder-petrovis-to-take-up-to-15-mln-more-shares-6310.html

MissyMagnolia - Well said! I really can't wait for this cherry to be popped.

hold tight...

Obelix, I'm good thanks. I must say, we are learning something new everyday in regards to Mongolian government priority areas.

Mongolia imported almost 1.5 million tonnes of oil products last year, virtually all from Russia. They amounted to 18 percent of all Mongolia’s imports, according to official data.

Mongolia produced 7.6 million barrels of oil last year, about 21,000 bpd, amounting to 6 percent of its total export earnings.

Mongolia’s big southern neighbour China produces around 3.8 million bpd of crude, and imports more than 9 million bpd, according to official government data.