Member Info for maestro1

PC oil is declining in their block so they will be thirsty.

Once winter kicks in PC and matd will sign deal of a jv. Imho

PC deliberately didnt drill on the border of their block so matd would give up on theirs in the past. Now matd will be producing and if pc wants more oil they will hav to sign upto a JV. I think its likely to happen as all permits will be completed to commercialise block 20.

Good times coming..

Espen35

Why would it be bad news in H1? Why would they install producing infrastructure is the well wasnt right. DQE has drilled dozens of wells just across our block on the same horizon.

You need to take chill pill.

GKahn

They have drilled in block 20 prior and they came up short this was the days when sp was in the pounds.

Gkhan

Before they farmed out to shell they spent considerable amount in block 20. So backcost will be significant.

And you? 1 post..

Bigbench

They dont need rig for them to get h1 in production, hes had along time to plan this.

I truly believe they will get a JV for next year to drill multiple wells, a deal where DQE pays 100% of drilling costs and we split the development cost which will be $2m between matd and DQE.

I think this is a fair deal

Stas

again no one here is saying h1 will be producing at 821bopd, the geology is similar to PC block which borders ours, they know decline rates and how long they flow.

Stas

H1 flowed 821bopd on test in 2019, this was the third highest rate in Mongolia, Matd hit the sweet spot. No one here thinks they will produce at that rate from the well. 250-400bopd is likely. With regards to H2 the net pay was over 5m while it was 12m at H1, the permeability and porosity are very similar for both wells.

Matd are producing from the same zone PC are from their block which borders our. PC deal is delaying production, once this is done we can role.

Investor33

Matd are fully funded to produce between 600-800bopd from h1/h2, these will be cash generative. once you start producing it opens up funding. im convinced DQE will take part in future wells, matd have negotiated in the past but now they will have proof of concept and oil does flow on this side, DQE may pay full cost for the drills and then share the development cost 50/50 with matd. PC/DQE know how these wells play out as they have drilled many in their block on the other side of the border of block 20.

So next few weeks are really important, get H1 producing and test h2 and try to produce from h2.

There no excuses now, Buck cannot delay the news.

Coming days this will surge..

Doc

This had 90m mkt cap with less. Now it has a mkt cap of 30m..

Abzzba

What is wrong with you?

Let just stick to matd news.

Bigbench

Not a couple of weeks but a couple of trading days. I cant see it taking much long to connect a generator and well to the storage tanks. ;-)

What kind of joke is that, they playing with sp?

Abzzba

Trade is from 15.03pm, its a sell. It £36k worth why people make a stuff about every trade. Values of all shares in issue is £36m.

I waiting for news.

Judging by the time its taking h1 to get in production it very likely h2 will not be producing this year. However it will be nice to know flowrates for h2 this year.

I believe block 20 has alot more oil than just in Heron field.

The history of gbp is a joke, they had ample of cash when i followed it, around $7m, it was a lifestyle company, they just waited and waited for JV for the Namibia asset, where did all the money go? director wages.

Espen35

ok mystic meg....