Member Info for MisterPositive

Below seems to be the expected timelines for 2018 and 2019. (1) Snow Leopard - drilling now. (2) Wild Horse - end Aug / early Sep 2018. (3) Gazelle - Sept/Oct 2018. (4) Fox - Apr 2019 (5) Red Deer - Apr 2019 (6) TBC in Block XX.

We should also get an update soon on Block XX Rig which as per Mike was in final stages. Expected September Spud in Block XX should also coincide with Wild Horse drilling timeline expected end Aug/ early Sep. Forget next year, loads of action happening soon in 2018.

Jeezzz, Some of you are really paranoid. It was a simple general question. Ironic, the $40 you keep quoting is for established Gulf of Mexico producers with many many years of established production. As production increases, cost per barrel decreases. That is Not for new start up production set up. I just read the Wood Mackenzie article. Was simply trying to work out specific $/barrel breakeven cost for Bpc or if they provided any sort of guidance.

Does anybody know what is the breakeven $ cost per barrel for Deepwater Offshore drills for Bpc? Cannot see any figures quoted by Bpc. $60-$65 a barrel have generally been quoted as Breakeven cost for Deepwater Offshore drills as a guide.

Hawkspear, Good on you mate. Relative upside here is massive in my view. 23 Billion barrels recoverable from 90 Billion barrels STOIIP. If Bpc can go up +200% in one day on a 3 month due diligence exercise, then imagine the Upside at MATD with Double benefit: (1) Oil discovery (opens whole Basin). (2) Farm Out deal signed at significantly higher levels to current price. No brainer really....

In the context of Mike Buck comments in the recent interview that Farminees are willing to pay a lot more in case of oil strike......any sighting of Oil from Snow Leopard Drill currently in progress would lead to a significant run upwards in price here in my opinion.

Got a feeling it's the same Farminee who pushed for 3D seismics in the first place that resulted in the exciting FOX structure in Block V and Upward revision to Wild Horse from 290MMBO to 490MMbo in Block IV. Wonder if they would Farm In to both Blocks IV and V after SL and WH drills.....hmmm

Sorry meant Farm In for Blocks IV and V on strike.

WildOne, All happening. FOX farmout could happen sooner than expected. We might get Farm In for Snow Leopard and Wilhorse soon as we get a strike here. Don't want to be out right now.

http://www.upstreamonline.com/live/1490778/new-mongolian-target-for-petro-matad New Mongolian target for Petro Matad: London-listed player plans another exploration campaign for next year, with a potential partner. London-listed explorer Petro Matad has identified a new, “attractive prospect” in Mongolia’s Tugrug basin after completing its latest 3D seismic programme, which has attracted the interest of a potential partner. Petro... Subscribe to read this story.

For every seller, there is s buyer to make the trade.

Agree. We all know how fast it moves. Market is much bigger than a few punters looking for a lower entry....well this is low. Some will surely be left behind...

Listen to the Oil Capital conference. Mike Buck explained the post mortem analysis of the previous Block XX drills back in 2010. They drilled away from the source kitchen. Did not even do proper testing at the time. Seemed pretty shabby job TBH under then CEO. I listened to one of the old interviews at the time, they hit 70m oil column. Could have been Oil migration...or something like that. Now they have refined their location precisely at the centre of the source kitchen, almost as an extension of the current producing fields operated by Petro China producing 21,000 bopd. Hence CoS in Block XX is upto 75%. Having said that, agree all the sexy upside is in Blocks IV and V, where BG farmed in previously. As Mike Buck said in his LSE interview, farminees are happy to pay a lot more in success case to jump in. How much more?...we have to wait and see.

Spainish, NOC is the term coined by Fundraiser, after he bought in....LoL. I knew what he meant, though.

D1nger, Excellent post buddy. Keep them coming. Things are about to get very interesting as the drill bit keeps turning. This will move higher without warning. Then watch folks scramble to get in at the best possible price available at the time.

Mannan, PVR was deep OFF shore drill and quite expensive. MATD drilling all ON shore and quite cheap with drill costs ranging from $2m-$7m each. BIG difference dude.

Fundraiser, When you are holding a position......then MATD is effectively Mongolian National Oil company...(I would think so too). When you are out, you start talk about pollution?.....that's a new one from you. Jeezzzz man, you are as unpredictable as Trump.....LoL.

Abzzba, You seem to think of yourself as some hot shot trader looking for a low entry....only focussing on week to week movements. I am focussed on the full campaign here. Market will play catch up in time....always does. When it does folks like you will be rushing in and paying double the price. Not to mention the upside from Snow Leopard and the much bigger Wild Horse straight after SL. Other than your lower entry....why else would you be here....playing the Good Samaritan?...seen quite a few of your type....unfortunately such is the appeal for this stock, that it attracts all types. Those are Edison valuations....go and read their research note from 4 July 2018, if you can be bothered.

Fundraiser, You have been too obvious with your desire to get in lower.....well this is low....You assumed SL to be duster even before they Spud??? You used 20% COS for wild cat drilling.....but that is coz vast basins of Mongolia have been untapped for decades, despite having same geology and rich source rocks like China who explored aggressively with +100 Billion barrels to date from the very same analogous basins. You could be priced out as and when Snow Leopard zones come in, paying probably more than double today's price. That would be before Wild Horse even starts. Price could creep into high 20's ahead of WH Spud. I am staying put here throughout this 6 drill campaign. If all goes well, then this could be well over £1.00 a share. Edison valuations for 5 drills: * Risked 62.1p a share. * Unrisked £2.65 a share.

MCap is way too low for 6 fully funded drills. Other AIM explorers out there sitting on much higher MCap with no near term drill in sight....AIM has trully gone bonkers. Break even costs for these ON shore wells are so low, that even a small 10MMbo discovery would be economical with positive NPV. That new Oil refinery will need every single barrel to feed the 30k bopd feedstock. MATD tapping c.600MMbo recoverable (mean estimate) from just Snow Leopard and Wildhorse. Upside case just for these 2 drills is about 1 Billion barrels.