Member Info for Mike31

Mike Buck's speech are always well structured,
knowledgeable, insightful and precise.

Key points:
-Heron well choked back for test. Flowed naturally at a peak of 800boed

- support and ongoing talks with PetroChina (and another party), could possibly be a JV for Heron

-winter period well timed. Office based work for 2020 operations, marketing media, data interpretations

-Mongolian government very supportive as 'they too' are delighted with the discovery and it fits in with their oil development plans. Extending license should not be a problem and therefore can expect swiftly advance into generating revenue in early 2020

-Further potentials in Gazelle, Fox, Raptor and a new opportunity named Phoenix

What is not to like

Please, why are people hyping the gas when the company haven't even sorted out the oil...
This is really not convincing:
-When company still named GoldCrest, they withdrew 3 projects
-As Block Energy, hyped expectation and did not deliver for 16awell
-Additional work and expense spent on cleaning 16a but no revised flow rate
-Well38 do not appear to complete on schedule as initially planned
-Investors here talking about the gas because they read an article about Chinese doing business in Georgia
I thought the gas had always been planned for a later stage of the operation, or have the pos shifted to the gas because there is not much to show for the oil?
Its like learning to run before you can walk.
Its not very good practice imho

Cautious11 have taken an interest here and want in lower

No news? Because its winter?
Cold temperatures preventing JV/farm out talks?
Computer analysis cannot function in the winter cold?

Listen to Oiler87 and you would have lost out on over 100% gain.

Most of the derampers don't even know the background and forward plans of the company

Cannnot blame them as they are only here for 5mins hoping to make 5-6% gains

Yes misterpositive, I remember.
At the time Sir Mike Buck wasn't around, the team were under a different leadership.

There we go again, accusations in attemp to silent / ban people that voice out opinions that differs to yours.

Very childish, and low. Desgy, you think imposing someone would make a difference to the sp performance? Prime example of the bully culture over at the bloe board. Amazing!

"The derampers (and those who missed out or badly called MATD wrongly - like OilManJim) are going to ignore production, they are going to suggest this is like offshore and will take billions to develop - LOL, they are going to say no cashflow in 2020 - total horse****e - , they are going to lie it will be 2099 before first production - basically they are just going to spout lots of nonsense because either they are just jealous toads who missed out, or they want to buy in cheap so want to push the price down by getting people to sell."

Brilliant!!!! Just Brilliant, to the point, and funny the way its written hahaha. Best post I've read in months, possibly this year. Thank you Proselenes

DegsyAlmomd, please do some research before commenting. PetroChina has already gave Matd heads up to use their oil storage facility, which is only just 1km away.
Also for your information, Mongolia is vastly under explored but that is all about to change as the Mongolian government plans to boost their own commodity production and become a step up on the global stage.

https://www.thehindubusinessline.com/news/india-offers-236-mn-additional-credit-to-mongolia-for-building-oil-refinery-pradhan/article29618095.ece

https://www.geoexpro.com/articles/2015/01/mongolia-potential-in-an-emerging-economy

Like I say, PetroChina has deep pockets. If these guys are willing to commit $45billion dollars in attempt to keep their wells going, then I don't see why our discovery won't attract them for a partnership or even a buyout.

PetroMatd would be happy for a deal, you don't want to mess up a well like Block Energy did, which resulted the recruitment of outside experts to clean-up the well. With PetroChina on board, all that potential scenario is accounted for (project hugely de-reisked) and if any problems is encountered, we have PetroChina's technical support. No need to run around like a headless chicken asking for outside help. It will save us from using unnecessary expenses (and remember, this is only in a bad scenario) The best part is, no formation water was produced during the test!

petertree,I topped up myself as soon as I saw the Heron RNS that morning

Just spotted the typo error

Supposed to read loan

Donkee, another option as you have pointed out, is to take out a load and become self-funded and continue with the operations. I personally prefer a partnership with PetroChina one way or another.
Why you may ask? There are many reasons and beneficial to Matd
-PetroChina is a major and by having them on board, we gain acknowledgment for our find
-PetroChina is very resourceful, their contribution would be more than welcomed (facilities, strategic planning, technical)
-Project will hugely derisk with PetroChina's assistance
-Overall, it will be a confident boost and massive increase to the already good sentiment

Or another way to do it is sell part of the acreage and continue exploring with PetroChina on board.
PetroChina would fund and commit to further exploration within the block and at the same time the partnership canwork on Heron-1 and bring it online. Petro Matad would also have the PetroChina technical team's support. Can reap the rewards together since is a massive acreage with lots of hidden gems

Oh Gary, just because the information doesn't benefit you doesnt make it rubbish. Its all written in the PSC for any new investors who wants to know. 40% of profit goes to the Georgian Government.

However, don't worry. You now have the gas to look forward to dont you. GLA

Cannot stick to factual in a debate djm1, so start making accusations?

djm1 the royalty Matd have with the Mongolian Government is only 6-7% if I remember correctly.
The Georgian Government take a whopping 40%

Where did the 20% COS come from?
I never said that

Surprised the rampers only tell you how good the oil is but they never mention the PSC terms.

Block is on a 60/40 (around this ratio from memory) PSC with the Georgian Government, meaning any profit gained is split 60% to Block and 40% to the government.

Always DYOR!!!

Yes misterpositive. I totally agree this has got to go over 100m Mcap

To further add to the excitement, Heron-1 is just a small part of our Acreage 100% owned by Petro Matad. Petro China must be dribbling with strong interest. For those that are not familar with Petro China, they are China's number 1 oil producer like Exxon. Theses guys have deep pockets and will offer handsomely