Member Info for MisterPositive

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.

ShinFalls, Some great posts dude. Keep up the good work. ATB.

TerryAli, I for one am very thankful to you to attend and providing clarification of interim RNS for any oil discovery on route to TD by Mike Buck to prevent news leaks. That would also be in line with normal market practice. Agree cheap as chips. Drill bit is turning. Many could be well caught out on Snow Leopard strike from any of the 5 zones. ATB.

Manro, Well said brother. We all know communications could be better. There is always room for improvement. Mike Buck is quite receptive to ideas & suggestions from shareholders. He has his own money at stake here....let's not forget. Spud RNS could have been written slightly better....think we all agree on that. There was no need for that last line in the RNS, which simply caused confusion. Confirmation by Mike Buck later during Q&A session, that any discovery will be announced to market as soon hit....coz such news would leak one way or another. That leaves it open in terms of timing as to which of the 5 zones Snow Leopard will strike Oil.....if not all zones. Again it is "upto 70 days" guidance for complete set of tests after TD is hit which could be much earlier than guidance. Previous years guidance was 50 days...so they built in extra 20 days contingency.

SBB, There is a section on Sinopec website. They achieved between 7.25 to 7.42 metres/hour drill rate. Agree with some comments with respect to surface and hard ground etc. Guidance provided is 'Up to' 70 days.... Will be nice surprise if all comes good by 50 days which was the original guidance provided last year.

By the way, RNS says 'up to' 70 days. That would be for full set of tests to be completed. There are multiple stages, early indication of hydrocarbons, wire log tests, flow rates, etc. That already has 20 days contingency built in from last year 50 day guidance. Think Company has been extra generous with their estimates. Snow Leopard could come in well ahead of timescales provided in my view.

Hamm, Will open 30% higher. After Oil struck, this will be going into £££s.

David, Yes indeed.

Buccaneer, Many thanks for the confirmation.

Mike Buck clarified, they will report discoveries.....as and when they come huin.....otherwise news will leak out. Makes total sense. That would catch out lot of folks still on the sidelines on the day?as this would probably open +30% higher in my view. at least when that RNS drops ;-)

I think from next week, things will start getting very interesting as the drill bit keeps turning on route to TD. Hit those turbidites early and you looking at over +200MMBO and overall recoverable +500 MMBO just from this Basin only. Edison have assigned 8.3p Risked value just for Snow Leopard. So if SL comes in, price could more than double from current levels to 18-20p in my view. Also any subsequent drills in this Basin will no longer be Wild cat anymore.

Kiwi, That's a nice summary. I am not sure about the drilling hours on this Sinopec Rig. It is 100% certified to International Standards. Either way it will be nice to catch a few out when there is a nice upside surprise.

Don't think drills run 24 hrs.... I am assuming 12.5 hour day and 7.3m/hour dril rate. Should be around 350m depth by now as a rough guide in my view.

I think lot of folks assuming SL to be a duster....? With 5 zones, both shallow and deeper, Snow Leopard could easily surprise all on the Upside....time will tell. Edison Research 'risked' valuation of 62.1p is broken down by drill. They have assigned 8.3p valuation just for Snow Leopard and shade under 30p for Wild Horse. Fox valuation I think was 19-20p. Sum valuation of all 5 wells is 62.1p

Ojay, Firmly staying put..., Great Buying opportunity. Surely must be getting close to clearing off these flippers. Bounce soon after 1st Placing flippers cleared came almost at same level today. This 2nd lot should be done soon also. MMs will shift gears soon

My own gut feeling is that some punters might have put on Shorts using little window of the 70 days that was being debated here on the RNS day. They only play with a small window of opportunity. Even though Snow Leopard could come in early. Beauty however of keeping timelines Open for all 5 zones, will keep them guessing as Shallow targets get hit early.....If they strike Oil early on, then we could see a massive short squeeze as Shorters scramble to Buy back stock in the Open market. Also could see a bounce to 13p from these 8.9-9.00p Oversold levels as seen twice recently. Triple bottom hit today. Bounce is due. Sellers will only feed Shorters profits. I would put high sell limit orders to try and lock your shares at the desired levels to prevent them being lent by brokers. Imho.

Drop way over done.

below 9p for third time.....expect a bounce here in the run up to those shallow targets at Snow Leopard soon.... using Sinopec average drill rate of 7.33 metres / hour. Those looking for 7p.....no chance. IMO. 4.5p/share is just the CASH value here.

Fundraiser, You really think FCA is going to respond to your email/ letter? They have truck loads of back log and money-laundering & other regulatory and non-compliance cases to deal with.....get real. They don't even have enough resources/staff to deal with small chicken feed cases like this. This issue is common actoss so many other AIM companies also. Yes, was little naughty, may be an oversight being non-Exec director considering the sell amount is so tiny. It's not as if she sold it all ? She had transferred stock in the past to her children also for Tax efficient reasons. Together as family they own bulk of Petrovis. Hell she still owns 20% of Petrovis directly and founder of Petrovis and was the one who launched Petro Matad as their exploration arm and subsequently listed MATD on AIM. Her MATD Holding after this tiny sale is virtually Unchanged. It's not FCA, it's AIM disclosure rules, that govern reporting such matters. You not going to get your lower entry by scare mongering.

Half of current MCap is just the Cash balance company got here. So market effectively pricing upside from ALL 6 drills @ 4.5p only???? Defies all common sense.