Member Info for Mike31

Have we agreed there is a problem with the well?

Just re-listened to the presentation from March 2019...confident boost it was. Some key highlights below:

- Heron: 25 million barrels potential. 1km apart from PetroChina producing Well. Heron is the extension and up-dip combination of the 19-46 Petro China Well. Appraising a discovery already been made which give Heron a 75% COS or better!

- Gazelle: 13 million barrels potential. PetroChina 19-46-1 Well cannot be structurally closed and spilling up-dip into Gazelle. 50% COS

- Red Deer: 50 million barrels potential mean potential. In between a frontier and an appraisal well so its a must drilled

- Velociraptor: 200 million barrels potential. 4 way dip structure. Requires only a shallow Well to test

- Fox: 206 million barrels potential. 3 way dip fault closure. Additional Stratigraphic upside potential mapped

- Antelope: 7 Million Barrels mean potential.

Attractive fiscal terms: Royalty is 5-8% (very cheap)
PetroChina have spare storage capacity ready for a discovery

What is not to like!

Thats another way of looking at it. Either ways, very positive for the most active explorer in Mongolia, namely Petro Matad

buccaneer1961:

PM would not agree to a buyout unless Petro China makes an offer too good to reject (remember, those guys splashed $45billion to try keep their wells gushing but failed). A JV would be more sensible but that is just my opinion. I wouldn't entirely eliminate the chance of a buyout.

https://www.bloomberg.com/opinion/articles/2019-03-24/petrochina-s-45-billion-can-t-reverse-oil-fields-decline

https://uk.reuters.com/article/uk-petrochina-results/petrochina-plans-biggest-capital-expenditure-in-four-years-idUKKCN1R20VZ

* I wouldn't be surprised...

What would be a sensible approach beneficial to PM if Heron come in, debate.

I'd say bring the well online to generate revenue, so the company can drill the remaining highly prospective wells.

However, I would be surprised in Petro China offered a JV for Heron? Therefore, PM can spread the risk during the process of materialising the discovery, also bring in the assistance of experience-packed geologists and equipment needed from Petro China's side.

In my opinion

Whether you are in or out, how is everybody feeling (especially those that have been around since Bergen days) knowing next news have a high chance to be transformation for the company?

We are all born into this world under the illusion that we are given choice. Reality is we have very limited options throughout our life.

Wow, pretty much the same as getting scammed out on

Good I dont use them

Nope, I have never used stop loss myself

I thought the idea of setting up a stop loss so if the sp drops, it will automatically trigger a sell

Not sure what you meant by 'smashed well under'
as I see no connection there...

Gary1960, I can say the same to you
75% COS on the first well
600 quid enough for a can of coke
You missed out Big time without realizing what we have here

I'm in

Chance of oil discovery is High!

Back to back drills to nullify drop if we get unlucky

Well done to all those that held

Blatantly an organized drop, thieves stealing your shares

Yep, been here long enough to seen it all

Derampers out in force to give it a final push

Good to know Spike

spike are you in, just curious

yeah, have to haha