Member Info for maestro1

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Baa

If you look in the presentation the Heron structure borders both petrochina and matd block, petrochina had only drilled 3 wells and knew what was their, one can assume they hoped matd wouldnt drill on their side and petrochina would have taken the huge field.

Heron structure falls 62% on matd side, Petrochina obviously want a deal which favors them but as more wells are drilled and it gets closer to 2025 it will just get more expensive for them. Matd imho will get farm in with petrochina soon.

Master

They will drill the 3 wells this year dont worry.

Petrochina will get involved, 200mmbo in place in Heron in huge.

Matd can then concentrate on those 3 exploration wells with 600mmbo potential costing only $6m to drill all 3.

Coming weeks this is going higher, it inevitable..

3 wells will be in production, yes...

By year end all wells will be in production.

Velociraptor, Phoenix and Fox prospect can be drilled under $5m and over 500mmbo potential. You would be crazy not to drill.

FairAnalyst

"I certainly think we'll get the Petro China JV RNS but with the reassurance that we can proceed perfectly well without it."

One can speculate Petrochina offered a deal which matd refused and as a results raised the cash to have better bargaining in negotiations. Rig deal would have been signed by now but maybe JV is being negotiated hence the rig agreement.

Its good revenue isnt it, they could easily fund there own wells..

Worth mentioning they are targeting 1000bopd with 3 wells which they are fully funded for, todays oil price this equates to $30m in revenue per annum.

Now if they get petrochina involved they can get 15 wells drilled by petro and giv 50% share, who knows.

Either option is good for matd as they can continue exploration elsewhere as well prices are very very cheap, 1m per well.

As we get closer to q2 sp will get higher and higher. Cant see anymore delays now, EL was biggest stepping stone..

FairAnalyst

Its quite obvious matd are talkin to one party only and Mike is hesitant to give too much away just in case they listening.

Eventually matd and petrochina will partner each other.

Misterpositive

Yes, Petrochina purchased the asset from Soco for $94m in 2005 when oil price was $56 and had little production. Now Heron has 200MMBO in place, what is heron currently worth considering oil price is $82 now.

Now is the time to buy. Petrochina havr been playin games for time they never really drilled closed to the border hoping matd to give up and release the block.

Trust me when i say now is the time to buy, potential 10 bagger this year..

MisterPositive, EL license took a long time and then came the discount placing which hammered the price, but now we are passed that. We have oil in Heron and on this acreage alone Matd can make a company out of it. 60mmbbl recoverable is huge.

Interest is coming back in this company.

Im convince petrochina is sniffin as it borders their oil field they lookin to get in the cheap hence why matd raised to get in a stronger position.

Dont be surprised if there is JV signed soon.

We have to remember heron1 had the 3rd best flow rates in the whole of mongolia, petrochina will eventually partner us.

Matd believe they can drill wells for less than $2m over time.

MisterPositive NPV was done at $60 brent now its 33% higher.

Current mkt cap will likely be close to 9p before drilling starts in few months.

Whats the oil price you using mister positive?

A bull run is about to happen in matd but drilling getting closer.

Heron – Base development
Management is looking at a base development which would look to exploit 33 mmbbl of recoverable oil reserves which assumes a 17% recovery of the oil in place. This would involve using fracked wells with water injection. It would be hoped that production could get to a peak of approximately 5,000 bbl/day.

Heron – Target development
However, management is aware that the recovery factor could be enhanced with more optimal drilling which is likely to include radial drilling and fishbone completions if this proved to be cost effective. Management believes that more optimal completions could improve well performance and ultimately achieve a recovery rate of approximately 30%. This could see the recoverable reserves increased to 58 mmbbl and allow production to
nearly double from the base development and at the peak get close to 9,000 bb/day.
The field economics would be improved dramatically. Operating costs at 5,000 bbl/day are estimated to be US$10 million per annum whilst increasing the production up to 9,000 bbl/day would see operating costs increase to US$15 million. This equates to a 17% decline in unit operating costs. Unit capital expenditure costs would drop from approximately US$7.60/bbl to US$5.20/bbl – representing a 31% decline.

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58mmbbl at $2 per barrel is $116m, just on heron alone matd is cheap. Mkt cap is low.

What im thinking the company shouldnt wait around for the sale, after the pea and mre i dont think they will invest further in the gold but concentration will be put on the battery metals. Metal prices are up the roof.

Not close enough to the 2moz resource potential..

Question remains, huddleston was Bill buddy he completely sold out, if you knew company would be sold at multiples why would he sell cheaply. This is in the back of my mind..

Am60

Have they received 250k yet, surely they would have informed mkt of that.

I am not saying a placing is coming before mre but i think it will come shortly after that. On paper lnd is cheap stock but they will have to move to the battery metals which will require funding. I am intrigued why it was important to add 6 holes to mre and how much additional resource it will add. Was the current resource which didnt inc the western extension not big enough?

Huddleston keep being mentioned, warrants were purchased recently did the company request this?

Huddleston selling? Im thinkin there is a possibility of placing coming