Member Info for Jungmana

Imo only reason we are at 22p is the seller and should be cleared soon. Last time oil was at this level we were about 28p. Once the deals complete should be easily over 50p imo.
Gets even cheaper considering this;
"The Company continues to benefit from accrued asset cash flow from the respective effective dates of each transaction, which will be offset against the initial consideration as set out in the respective sale and purchase agreements. In addition, we expect to accrue a significant crude inventory stock from the INA transaction due to the infrequent liftings for this interest. We have updated our estimated completion settlement estimate for the INA Acquisition in our latest corporate presentation, including the impact of accrued crude inventory. The presentation is available on our website (https://afentraplc.com/investors/)"

I like this:
"The 18-10 #1 City Bank well was drilled to a lateral length of approximately 5,744 feet with 100% of the lateral drilled in the target interval. The well was successfully stimulated with a 50-stage completion operation and is in early stages of completion flowback currently producing flowback water at 5% of load recovery. Southern does not expect to see peak gas rates until the well has recovered approximately 20% of load fluid based on historically stimulated vertical and Generation 1 horizontal wells in the City Bank reservoir at which time the Company will report on initial production. The Company is encouraged by the early results and looks to add significant net asset value to the reserve books in 2023 as no proven undeveloped or probable locations have been attributed to the City Bank zone to-date."

Should be a good cash buffer imo as drilling time halved. Hopefully we get a report of total 4000+ boepd production currently.
Cheap at GBP 22m market cap ( 18p) imo.

"With an average operating cost in 2022 of under $0.80/Mcfe, Southern has some of the highest margin natural gas assets in North America, which continues to benefit the business model and provide strong cashflow for the Company. "

"The Company is pleased to report the initial 30-day production rate ("IP30") on the first well of the 18-10 pad out of a total of seven wells drilled to date in the capital program. The 18-10 #2 Upper Selma Chalk well recently reached an IP30 of 3.3 MMcf/d, which is similar to the 19-3 #3 and #4 appraisal wells, "
That's roughly 560 boepd from well #2 added. And hopefully similar or better from the other 2 completed wells.
Total production as of January was 3,400 boepd.
Looking forward to the q4 results due in 3 weeks time.

Early May it is;
Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented :

"The additional funding announced today allows us to advance the drilling of MOU-3 to target for the first time all Prospective and Contingent gas resources.

The learning curve has improved substantially following the information gathered from the suspended well MOU-2. As a result we believe that bringing forward the drilling of MOU-3, with a projected start date in the first week of May, is a sensible course of action.

Excellent investment opportunity at todays price with news imminent :
Production will be starting to ramp up in February and March and continue to grow for years to come, with the strategy of drilling and average of 15 wells per year for the next few years from their strong financial situation and organic funds flow growth. The management team anticipates growing production from 3,400 BOE per day of currently to over 25,000 BOE per day in the next 4 years.



In addition to the growth of the Company’s Mississippi assets, there is still keen interest in growing through future acquisitions, possibly in Louisiana and Texas, as the Citibank formations, Selma Chalk formations, and Cotton Valley formations extend along trend in these jurisdictions. We wrap

Is red day across the market . Not just vast and hopefully will bounce later in the day.
BP results for q1 should be out in early April (will surprise many according to AP) and possibly we get diamonds news before that.

Watch vast rise to 0.80p soon before any news lands. The big guns are buying

It was a buy and responsible for the turn around in the last 5mins of trading.
Who is the buyer?

Buy the dips, the trend is up here. 5p this week imo and a lot higher on LP news and firm date set for Velociraptor drilling.

If you do the numbers at $80 oil price, then you get 65p NAV

As I said yesterday matd would have been nearer 8p by now if only the recent placing didn't happen. But the flip side is it has given us money to drill Velociraptor , one of the biggest onshore drills globally this year. And the cost is extremely low compared to others.
That's why the NAV has gone from 29p to 58p.
Then there is the Heron development with the LP due any day.
Buy sit tight as imo will be 10p+ within a month or 2.

5p this week imo. Make the most of the opportunity here.

I think most investors have not grasped the opportunity matd presents . If they read the recent Progressive report and understand the value creation that's about to happen here they will be buying more.
I expect 10p to 15p in the next 1 to 2 months when LP is issued and a firm date is set for Raptor drill.

4p about to go, next stop 5p before the big news lands

Constant stream of buys . Will pop over 4p soon imo

Personally I expect the LP news to land this month. Thanks for info

Hold for next 3/4 months and could see 10p to 15p imo

Block V Exploration

With the conclusion of our recent equity raise we are now preparing to drill the Velociraptor 1 well. With mean prospective resource potential of 200 million barrels recoverable and 380 million barrels recoverable of follow up potential in adjacent structures, the well will have a transformational impact for Mongolia as well as for the Company in the event of success.

We expect the well will be closely watched by the global E&P community as it has significance not only for the Company's Block V but also for the many lightly explored or unexplored basins of southern and western Mongolia that constitute one of the largest remaining unexplored onshore exploration frontiers on the planet.

The rig contract has been signed with Major Drilling, an internationally active Canadian company that has been operating in Mongolia for over 20 years. Discussions with the contractor are underway to confirm a spud date during the second quarter of 2023. The well has a proposed total depth (TD) of 1500m and is expected to take c.30 days to drill. The well will be within the prospective target section from c.600m until TD and will have a suite of conventional wireline logs run. In the event of encouragement, an appraisal well will be planned and testing operations will then be conducted. With a domestic oil refinery under construction and with domestic oil production forecast to fall short of meeting the refinery's needs, Petro Matad is seeing strong government support for its exploration efforts.

In addition, the Company is stepping up its community interaction in Block V to capitalise on the existing goodwill and to ensure that we continue to be accepted as a cooperative, constructive and trustworthy partner.