Member Info for fundraiser222

That was with a winterised rig, when the rig was not a winterised one they suspended drilling in 2nd November 2009, this current rig is not winterised

Imo the best time to accumulate will be at 3-3.5p over winter because if spud is delayed until May 2019 it will tank. The rig will be stacked over winter at WH in any case as the temps drop to -15 in early November, GL those taking the gamble for me I couldn’t stomach a 40% loss and having my capital tied up for 6 months far too risky given Matd history of delays and cancelled drills, they have already cancelled two this year!

Appears to be turning his attention to Matd, be very careful guys because the FCA are well aware of his fake articles promoting fake news, any news articles promoted by him good or bad just report to the FCA immediately

They may have every intention of drilling the well however if If gets too cold sinopec wont drill it. Look what happened in 2009 they planned to drill a well through November then the winter became extremely cold and they had to suspend drilling on 2nd November 2009 until April 2010... they hit a duster in any case but my point is if the weather becomes very cold in October they won’t even have the choice to drill or not the weather decides for them imo it will be too cold to do a 30 day drill by the time they have deconstructed the rig, moved it 450km and rigged it back up again, it took 2 weeks to rig the well up at SL when it was already 35% complete, see 25th June rns. It will crash to 3p imo on a delay until 2019. I know you are gambling they will spud and will de risk but just be careful mate a 50% loss and your capital tied up for 6 months is a hard one to take.

I assume it will fall to around 3p if they announce WH is delayed until spring 2019. It took them over 2 weeks to complete rig construction and spud SL when it was already 35% rigged up, see 25 June rns states rig is 35% rigged up yet spud was 9th July... this time they need to complete operations at SL, take the rig down, move it 450km on trucking roads, build the rig up, and drill the well all before it gets too cold in November... they cancelled drilling in 2009 on 2nd Nov due to harsh winter conditions imo a big delay coming here and a big price drop hense the sell off and no spud date estimated in the last rns, MIke Buck has had a disasterous year imo

Proselenes is this the same Shell that cancelled the previous farm in deal and had to pay $15m to cancel it? So what your saying is they paid $15m to cancel the deal yet if Matd hit oil they will pay much more to arrange a new deal. I have never heard anything so ridiculous in all my life if Shell wanted Mongolian oil they wouldn’t have cancelled the deal would they. Cheers for pointing out the rigs are semi winterised, if you google the rig you can see it’s not semi winterised at all

It’s not lies though is it, it’s wriiten in the rns in Feb that WH is a 30-45 day drill. So either Mike is lying in his presentation a month later or the rns is wrong which one is it? I don’t trust him to deliver anything tbh and fully expect WH to be delayed look how vague the rns is giving no approx spud dare or timelines. Let’s see but if no drilling for 7 months this will imo be 3-3.5p over winter and that would be the time to buy. Too much risk at this price and coming off a duster confidence will be low and think volumes will be low too over the next few weeks. Nobody trusts Matd anymore that’s the problem they have screwed investors too many times trust is gone unfortunately and their communication and PR is non existent unacceptable for a mcap of this size

February 13, 2018 rns “ in Wild Horse-1. The well is expected to take approximately 30-45 days to drill and log at a cost of approximately US$4 million.” So if it takes 45 days they do t have enough time imo, why didn’t Mike give a spud date? He did for the SL well he said week beginning 9th July so why not for this well? All very suspicious imo he hasn’t delivered on anything since he became CEO, he has cancelled two wells hit a duster and diluted shareholders by well over 50% in less than a year

Construct the rig **

As reported in the February rns. So how long does it take to deconstruct the rig, move it 450km in freezing conditions, the contract the rig... then allow 45 day’s drilling time. Imo there is t enough time left to drill Wildhorse before the freezing -15 temps set in. Matd suspended drilling operations on 2nd Nov 2009 due to harsh wi yer country conditions. Well it’s only 42 days until 2nd Nov... you guys really need to work things out properly before blindly losing your hard earned money, imo no chance they have enough time to drill WH

Due to winter setting in and this drops to 3.5p imo as 7 months of no activity. 2009 they suspended drilling on 2nd November due to harsh winter conditions... well as if yesterday’s rns the rig hadn’t even finished operations at SL let alone started to be de constructed. Then it has to be moved, then it has to be constructed again, then a 30 day drill, all before winter kicks in, he’s fooling no one imo why not say spud will be mid October etc etc no commitment to a date all very suspicious, those who believe MB have so far been shafted as he hasn’t delivered anything apart from dilution and delays to drilling. Two drills already cancelled this year beta on the hatrick anyone? A haircut to 3.5p and money locked up for 7 months would be a bitter pill to swallow too bitter for most imo

Patience been rewarded, can see this exploding on an oil strike

Mike Buck has had a shocking year tbh surprised he didn’t get the sack at the AGM! Diluted shareholders not once but twice! Cancelled 2 drills already planned for this year, and just reported a duster on the drill he managed to do 3 months later than originally planned. That is what Mike Buck has achieved this year as CEO, all he needs to do now is cancel WH due to harsh winter conditions and he will have a Hatrick of failures, snowing again in Mongolia today -9 tomorrow night ppl need to research how long it takes to deconstruct a rig, to move it in harsh cold weather on terrible track roads, and then build the rig up run the safety checks etc, MIke isn’t fooling anyone imo

Lol I do t need tea ging any tricks from novice dreamers but cheers for the offer. I’d rather not have money tied up in Matd for 7 months over winter, operations at SL haven’t even completed yet according to the rns let alone the rig been deconstructed but GL if you think they will drill this year, the smart money buys at 3.5p in Feb 2019 ahead of the new drill season in May, another duster to add to Matd long list of collections today the market will run out of patience with MB if he gets failing to deliver and cancelling drills he’s already cancelled 2 drills this year. Bets on him cancelling a 3rd anyone...

Due to harsh winter weather.. and no spud date given for Wildhorse not even an estimate. If it was still going ahead then why not say spud is expected for mid October or whatever... instead they leave it open.., well imo they will pull the plug on WH until May 2019 now and all those who bought today could be sitting on a 40% loss as 3.5-4p is where it will settle on a 7 month winter of no action imo. Mike Buck has had a shocking year tbh surprised he didn’t get the sack at the AGM! Diluted shareholders not once but twice! Cancelled 2 drills already planned for this year, and just reported a duster on the drill he managed to do 3 months later than originally planned. They are the FACTS of Mike Bucks year as CEO

Lol going upwards? It’s been down at this level for 4 hours, they suspended drilling on 2nd November due to the freezing weather. It’s snowing today in Mongolia and -9 on sat... and you think they won’t suspend WH until May 2019. Last post now from me I will post again when they issue the next rns. GL

Drilling Update

Petro Matad advises that is has suspended operations at its Davsan Tolgoi-1 ("DT-1") well site due to winter conditions. The DT-1 well is located on the Company's Production Sharing Contract on Block XX in Eastern Mongolia.

As previously advised, a drilling agreement with Ansai Yuehua Oil Tech Company Ltd ("Ansai Yuehua") was executed on 19 October 2009. Under the terms of the drilling agreement, Ansai Yuehua provided a drilling rig to Petro Matad by 30 October 2009.

A severe cold snap in the on-site weather from 30 October to 1 November precipitated an operational decision to suspend any commencement of drilling in 2009. The operator of the PSC to the north of Block XX, Daqing Oilfields is also shutting down in preparation for exiting its extensive operations for the winter period on 10 November.

Ansai Yuehua completed the provision of the drilling rig under the terms of its contract and the rig operations had reached a stage where the well could have been spud on 2 November.  All extra site works including the drilling of a 260m deep water well, camp establishment and road and earthworks had also been completed.

The Company and its contractors are now preparing the site for a secure winter shutdown, with appropriate care, safety and maintenance through the next five months of the Mongolian winter. Â

Drilling is expected to commence in April 2010, as soon as weather conditions permit.

It’s embarrassing the new board member they have appointed is the daughter of the one who sold her shares and had to resign lol you couldn’t make this up and this is supposed to be a serious company?? MB is just a puppet imagine sitting on the board after she resigns with her daughter institutions wont like this one bit it’s sticking two fingers up at share holders and makes the company look very unprofessional

Serious company this lol shocking stuff

It’s not coming mannan mate imo, look how vague the rns is, surprised your taking the risk, not for me I will wait for 2019 now I’m not buying at 6p for them to then delay WH to May 2019 and lose about 30% if my capital when it hits 4p and lower, Matd are experts at drilling dry wells and delaying them 8 weeks to demobilise the rig, move it, and construct it, and drill it.... no chance imo but GL