Member Info for MisterPositive

+11 degrees next Monday in Mongolia. Come on Mike...get the rigs in.....can we Spud in April please.

Hoof, Could be combination of reason. Yes Tax year ends on 5 April. At the same time new Tax year ISA allowance £20,000 kicks off from 6 Apr 2019. So Rig news could also coincide with influx of ISA shares related buying. Price could move ahead of that also...knowing how MATD share price behaves. Either way time to enjoy the ride this year.

Manro, Nice one mate.

But some body is grabbing them cheap shares

Might get rig news on the day or soon after the Oil conference is my guess.

LoL.... Looks like Mike31 got hold of some spare bananas, that he is trying to find a home for. Hes got 'route1' card marked though...LoL

Only thing route1 got open are his elastic shorts....

Route1, Make sure you firmly cover that dust hole on your back OR Mike31 will be there with his banana...before you know it.....lol

Just wait for news... This is just warming up. With $23m cash and fully funded drills...best risk/reward Oil play around currently. Other oilies have had no success and on the brink of raising funds.

Just waiting for Rig contract. Consolidation over past few weeks tells you trend is up.

JODO, Both geological & commercial COS are high. Geological COS 75% being Appraisal of existing oil field within 1km of producing oil wells operated by PetroChina for over a decade. Well 19-46/3, 19-46/1 and 19-46 all part of the same oil field extending into our Block XX. Commercial (economic) COS is high also as even a small oil discovery in Block XX has robust economics due to very low costs. While selling oil production close to Brent Crude price less a modest 5% discount. Petrochina sitting on 2.25 bln barrel oil field and their daily production comes from a number of oil wells which is simply trucked across to Chinese refinery. Trucking cost/barrel only around $9/barrel. So risk / reward and Investment case looks very compelling any way you look at it. IMO

? are supposed to be Bullet points....bit of formatting issue.

Heron-1

? Mapping and available well data indicate 19-46 field, 19-46-1 and 19-46-3 discoveries are part of the
same oil accumulation.

? 19-46-1/3 structure clearly extends up-dip into Block XX. Heron well located to appraise the structure.

Revised mapping following seismic reprocessing clearly shows 19-46-3 discovery extends into Block XX.

? Larger trap area of Heron Prospect confirmed by revised mapping
? Commercial flow rates achieved in ‘19-46 Area’ wells
? Total STOOIP of Heron Prospect increased to 157 MMbo

Gross Production (page 14) :

15 MMbo = $76m

50 MMbo = $299

> Trucking costs $9/bbl based on Petro China operation (cost recoverable as operating expense).

> Well by well development offers a low capex alternative to bring fields close to infrastructure on stream immediately.

> 5% discount to Brent Crude price.

https://www.petromatadgroup.com/wp-content/uploads/2019/03/Corporate-Presentation-11_03_19-Petro-Matad-2.pdf

Alongside construction of the refinery, Mongolia previously said it also would work on construction of an electric power transmission line as well as 20 km of railway and roadway to connect the manufacturing site to nearby Sainshand.

https://www.ogj.com/articles/2019/02/mongolia-advances-construction-of-new-refinery.html

From RNS....."The evaluation of bids is near completion and discussions with the Regulator, the Mineral Resources Petroleum Authority of Mongolia (MRPAM), on evaluation results and contract awards are in process. We aim to complete contract negotiations with the winning bidder in time to ensure rig mobilisation in April 2019." If the company plans to mobilise rigs in April, then news must be due pretty soon.

Delboy Stop living in the past.

Yes, we know all about last years issues. Market re-rates on future outlook. Different ballgame this year. * Permits already in hand. * Rig contracts in final stages. So much so, that they want 2 Rigs on the go simultaneously. * Appraisal well with 75% cos given they drilling about 500 metres from producing wells.