RE: Big Picture Development of Petro Matad Underway - Multibagger!9 Jul 2023 09:39
To take a pop at the raptor trend knowing that there's the potential 200mmbo in V1 and If successful opens up the potential for the other raptors with potentially another 600mil + barrels as it appears to be a working proven petroleum system so even with good oil show's at V1 let's us move on to the spudding of V2 which would be an appraisal follow up drill plus the license runs out June 2024 so gives us plenty of time to apply for the exploitation licence which shouldn't take as long this time as the template has already been set. For H1 now the LP issue is finally sorted out we just need a 2 week workover which I would have thought once the DQE contracts are finalized and everything is in order with PC to use their facilities
work can begin quite quickly so I would hazard a guess end of August beginning of September which should give enough time to at least get the workover done at H1 and spud H2, probably have to wait a few weeks for all permits and paperwork to be signed off and in hand and finally become a producer. Results for V1 due very soon which many of us are hoping for a successful outcome as many shareholders have waited many years for this to happen and then an SP to match . 😊 GLA