Member Info for MisterPositive

Good post. Agree. Also do not forget Mongolian oil refinery under construction. It will need all the oil it can get just to meet domestic demand.

Forget any of the Alaska players...Written off my small punt here. Looking forward to MATD multiple appraisal wells drilling just 500 metres away from Petrochina producing oil wells and 2.25 Bln barrel oil field. Fully funded with $23m cash

He probably sold out yesterday morning ?

That does not look good. Red day ahead by the looks of it.

that surprise Placing was a master stroke by Mike Buck that has put MATD in such a strong enviable position now. Company has never been in such a strong position before in its history. * Loaded with c.$23m cash * Multiple Appraisal wells with such high COS. * Less than 1km from producing oil wells with collective 2.25 Bln barrel resource to PetroChina. * Close to international sales price from oil sales...5% discount to Brent Crude. What more do you want ??? Far too many other oil explorers, sitting on next to NO cash...yet with such a High Mcap vs MATD ??????

MATD is fully loaded with cash for multiple drills in Block XX to bring substantial cash in from early production on successful strike. This is low entry in my view and base. I would expect price here to rise gradually pre Spud as we get closer each week.

Oil strike in Block XX would be quickly brought to market in 2020 using same proven Petrochina model...who just truck them across to China. Market price for oil achieved as 5-10% discount to Brent Crude. So there would be plenty of cash generated. We might never see any Placing here again, imo

With c.$23m cash they are fully funded. Block XX drills costing between $2-3m each. They could do upto 6 drills just in Block XX for about $15m. Plenty of cash around.....and still should have cash for FOX or Velociraptor, both 200 MMbo each.

MMbo = million barrels In oil speak terms...

Block XX....over 100 MMbo Fox.........200 MMbo Raptor....400 MMbo Block XX estimate could increase significantly on strike as even more Appraisal wells are added to the drilling with 2 simultaneous Rigs in action. Rig contract confirmation news soon should really motor this ahead. Only c.400m shares in free Float. Momentum should pick up significantly as it's on most people watch list.

Last year was wild cat drills... These are Appraisal wells of existing producing Oil wells just c.500 metres across the fence in Petrochina Block 19... There could be more than 4 wells just in Block XX on strike follow through. Folks were paying over 13p last year for wild cats... Half price SALE on at present :-))

that Petrochina is sitting on....says it all and MATD know it. That's why they getting additional permits for even more Appraisal follow through wells on success.

would suggest wider overall estimate from Heron alone would be over 112 MMbo from original 75 MMbo. That's just from Heron. Gazelle mapping also confirmed to be extension of Petrochina oil producing well. So MATD more or less tapping into same oil from where Petrochina been producing 20k barrels daily....awesome.

Agree. Rig contract news could drop anytime. RNS provided lot more hints to suggest rig contract deal is nearing closure very soon in my view.

Rig is already near Block XX...was doing job at end of last year. Can't take long to get it across to Heron. Just need confirmation. It's only 7 Mar.

This went from 5p to 38p within 2 months in 2017 ahead of wildcat drills in Block IV and V and farm in partner hope. Totally different ball game now. 100% owned 75% cos Extension of producing Petrochina wells Early cashflow from Appraisal wells. They will be busy in Block XX for quite sometime pumping all that oil on strike. PetroChina sitting across the fence just metres away would probably want to Buy Out Block XX outright...only at the right price though, which would be Multiples of 6p. Imho.

cheap shares...

is on......bit conservative though. April Spud is my guess.....not that far now. This moves well early without notice.

Beautiful RNS...with a WOW factor. 2 rigs drilling simultaneously is a very nice surprise. Did not expect that. Mongolian Govt. well and truly on board and providing approval for simultaneous drilling. Both Heron and Gazelle extensions of Petrochina oil producing wells...Awesome.

Could the previous major come back for round 2 ? I cannot remember, but don't think there was any clause, preventing them from doing so. Any thoughts.