Member Info for MisterPositive

Few more days like this and any overhang will be history.

Fundy, Lots of flipping is good. Sooner it's done, sooner the overhang is removed. I am actually surprised you not bought back in yet.

Fundy, I think it's more apt....that you tried but there was nothing available... "Gone in 60 seconds"...like the movie.

Skenny, Yes. Agree. 850m barrels is what the company has identified so far. Basin opener wells, don't forget. Lot more to come from each Basin. This is just getting started finally after all the excruciating wait.

HH, There are all types out there. Flippers from recent Placing OR other holders. Add to that day traders. Generally speaking, lot of flippers 'Forward sell' from borrowing stock even before they get their hands on their new shares. Same happened with the previous Placing but took longer as we were months away from Spud at the time. This time around you could see the churn much faster. Also we make our own assumption that all II would flip immediately. Might not be true with just few weeks from Spud. Truth is we don't know who are the sellers...but shares are defo getting mopped up quick at these low prices.

Skenny, Read 16 Nov 2016 RNS. PETEX presentation. Estimated 90 Billion barrels STOIP. 9-23 Billion barrels using 10-25% recovery factor. I know it is mind boggling but not hard to believe as China found +100 Billion barrels on their side of the border because they explored their basins, with same geology and source rocks. Mongolia under Soviet occupation did nothing. Only now getting in on the act after gaining independence.

This share is in huge demand simply based on the mammoth size of these multi-Billion barrel basins. 90 Billion barrels STOIP estimate is from 6 of 12 basins. If I am correct, MATD current 6 drill campaign is tapping into either 4 or 5 of those 6 prospective basins. Apply 10-25% recovery rate and you get 1.5B - 4B barrels per Basin. IMHO. I am here for +1000% upside, not just 20-30% profit.

Zelmann , You won't get Buys cancelling out Sells. Variety of reasons for that: (1) MMs are Net long / Short stock at any given time. (2) Late reported trades account partly for the discrepancy. (3) Order filling by MMs where they sometimes fill big orders over few days, etc. Hope it helps.

For 850 MMBO prospective resource identified so far. 9-23 Billion recoverable at 10-25% recovery factor across 6 basins (90 Billion barrels estimated STOIP). HUR MCap is £924m ($1.24B) for total 2P reserves and 2C contingent 2.6B barrels. MATD will catch up eventually or might even exceed HUR MCap over time. IMHO.

Heavy volume today. Think with Spud so close, could see heavy volume days ahead.

...LoL....Awesome.

Wow....

Blimey....looks like a +15m Volume day here today.

ColonelDrake, Nice assessment. Exxon Mobil would certainly fit "New Country Entry"....that MATD keep referring to for those interested parties as potential Farm-In partners......now that would be nice :-))

Naz, Speculation on my part, but may be II wanted entry around 10p just before Spud date and approached company via their Brokers....who knows. They won't be flipping them at these prices. Yes company could have waited and raised at higher price, but I think there is FARM-IN angle here also. With spud so close, these II probably wanted in for +100% gain minimum. Plus MATD can negotiate Farm-In deal terms from a position of strength. IMHO.

Lot of folks follow the wrong myth with Placing price. Market adds the additional new shares and works out a Theoretical weighted Ave Market price. Price should eventually creep up towards 12.30 in coming days. Last Placing price 6.5 was never hit. Within days it was at 9p....+38% higher than 6.5 Placing. Applying same formula / trend, this should be around 13.8 in coming days. IMHO.

JohnHenry, I calculated 12.30 as Weighted average diluted market price after placing. I used 127m shares, but turns out they were +10m Oversubscribed.....demand is huge.

Significantly Oversubscribed....,,no surprise there. * 6 wells fully funded drill campaign - starting in July. * targeting 850 MMBO (Mid-case estimate). * 950 MMbo with Falcon 100 MMBO. Company can decide on that one next year.

with about 2 Billion shares in issue. MATD Mcap is peanuts vs 850 MMBO prospective resource (Mid-case).

If 40% of the 127m is taken up by Petrovis & MATD management to maintain their current holdings, then there will only be c.75m shares available to II, which ain't a lot.