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Perfect time for Heron-1 to come online into a rising Brent crude price.

We get circa 5% discount to Brent crude (if i remember correctly from company presentation).

We still need to follow up on Gazelle- 1 discovery.

Heron-1 flowed at 800 bopd. Petrochina first well from Block 19 flowed at 500 bopd. They currently producing c 17000 bopd vs 25000 at peak with estimated 2.25 billion barrels from their Blocks 19 and 21 less all oil they have extracted to date.

The-Lockie
We up for a spectacular summer of 2023.

Heron-1 oil to start flowing and Velociraptor-1 drill going on at same time. Talk about Climax !!!!

LP is a given now. Just dont know which day exactly its going to Land. Could be tomorrow, this week etc. But when it does you would want to hold onto your hat. This moves at lightning speed.
Gosh....how many years we waited for this LP !!!

Sometimes there is a gap of 1-2 days between news leak and RNS date.

Very good volume today. We could have a crack 6p tomorrow.

Ninesandytoes
Yes. Its already night time there. LP might have already been signed OR could be signed this week. Your guess is as good as anyones. RNS might land tomorrow morning or sometime during this week.

But when it does, price would Open lot higher.
Many would struggle just to get any decent QTY

MMs trying to grab shares to get few sellers before reselling to incoming buyers at higher price.

Same tricks they used when we used to get 2-3 consecutive +20% rise days during 3p - 38p run back in 2017 with multiple Auctions.

We could soon be entering similar trend. Hold tight. Much bigger rises ahead. MMs just testing the waters.

LP on its way....

If LP was already here, this would +15p in a flash.

Can someone please give this Cabinet minister a Pen, so we can start this train ;-)

Thanks master82. LP is coming very soon.

Good to see Govt putting framework in place for any Land disputes for future reference and needed to attract foreign investment.

MATD should never have had to wait 2 years since Heron-1 Oil discovery. We should already be generating strong Cashflow from Heron Oilfield.
Almost there now.

+30% day coming up very soon as we breakout above 5p.

Been overdue for a long time.

Staying put here. Lot more to come. April could see some big gains from current entry price.

Google finance should soon be showing 7.49 this week instead of 4.79p ;-)

And then 9.47p and so on....

LP RNS would push this to 15p - 20p bracket in a hearbeat before some profit taking kicks in. Then we go again for Velociraptor-1 spud towards 25p might get a spike to 30p

We not even started yet.

Telegraph article highlighted $1 - $3 Trillion worth of untapped resources in Mongolia.

Mongolia looking to set up International Financial Centre. That is going to attract World's leading financial institutions/ Banks / Fund Managers / multi-national companies to get in early and cash in future economic Boom.

PetroMatad is very well positioned to lead the way

D1nger. Excellent post.

Amazing potential upside from Block V.

Piece from Progressive research analyst below:

"Petro Matad believes that the Velociraptor prospect could contain recoverable resources of 200 mmbbl. In this scenario, management believes that it could achieve first oil as early as 2024 and that this discovery could reach a peak production of 90,000 bbl/day in 2028. On the costing side, the exploration well is expected to cost a mere US$1.7m, while for a full-scale development we believe that capital expenditure and drilling is expected to be approximately US$1bn, representing a modest level of capex of US $5/bbl".

http://mongolia-mining.com/index.php/homepage/introduction

https://www.telegraph.co.uk/business/exporting-from-uk/eecan-export-opportunities/mongolia-markets/

All coming together now. Some good posts today

Govt getting proactive on ALL fronts. Good to see media coverage initiated now on CNN, Economist,
Bloomberg, Financial Times etc.

Mongolia vision 2050 is now in focus as evident by Govt introducing Investment friendly policies and cutting the Red Tape, corruption, beaurocracy. They sending very clear message to the World - Mongolia is OPEN FOR BUSINESS.

It should also attract Institutional Fund Managers looking to start taking positions in what they deem as "Fastest growing Companies" in Mongolia as one of the New Emerging markets like BRICS.

Land Permit is coming soon. No doubt whatsoever. Govt wants crude Oil production to be around 30,000 bopd by the time Domestic Oil refinery is up and running in 2025. Hence new licences bid round and fast tracking current Oil discoveries and NEW ones ASAP.

PetroMatad should become one of the fastest growing companies in Mongolia and at some point in future i see PetroMatad with +$1b MCap.

IMHO, DYOR.

Traders can also make very good profit here if they stick around for the Uptrend we about to enter supported by fundamentals and busy newsflow in coming days and weeks.

My first interim price target here would be 25-30p and if Velociraptor-1 comes good then lot higher.
They plan to do a straight follow up Appraisal well on Velociraptor-1 after discovery.

Things will get very busy here with drill activity on both Heron-1 discovery well and Velociraptor-1.

With over $12m cash in bank and future Cash flow ftom Heron, MATD should soon be flushed with cash and NO DEBT.

Cannot ask for any better set up to be honest.

Land permit RNS next Tuesday would be the perfect Easter gift.

Lot better than chocolate Easter eggs. LoL

Gradual rise is welcome before Lp RNS lands.

Then its ALL SYSTEMS GO.

Add Velociraptor-1 into the mix and we will have the perfect storm. Will need to hold onto your hats when that happens.

The project is a joint venture between Mongol Refinery LLC and Sinopec Engineering (Group) Co., Ltd. (SEG), with Engineers India Limited (EIL) providing project management consultancy (PMC) services.

Petrochina is all good now. They just had to sort out their own issues.

Besides Mongolian Govt told Petrochina to play ball few years ago after which Petrochina signed an MOU with PetroMatad to use their Oil processing facilities in Block XX for us to connect Heron oil production.

More importantly both Russia and China need Mongolia for the massive upcoming Russian gas pipeline connecting Siberia to China via Mongolia.

Mongolia might be land locked but strategically located between Russia and China serving the economic interests of both and their own Urbanisation & Industrialisation plans.

Petrochina can also work with Matad as JV partner in Block V to ramp up production if Velociraptor-1 hits the black gold. Block V would be lot lot bigger than block XX. Mongolian Govt wants the oil for the big refinery.

Allan
I would assume a +$1billion MCap in future here.

Would be a stepped Up increase obviously in line with Production ramp up from Heron Oil field.

But like Jimi said if Velociraptor-1 hits sweet spot also, then that would get us there lot quicker.

Production from Block V then would be nice feedstock for the upcoming Oil refinery. They would need all the crude they can get to meet the 30,000 bopd requirement.