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Less haste more speed. Mike Buck is talking about WH in the video and my drilling lengths are WH quotes in the rns. The point I should have made is that pro rata I believe the SL estimate of 70 days is likewise very generous and if it tallies with what he has said re WH, we could be hitting those Turbidite fans within 10-14 days of spud.
Apologies for the confusion.

I don't think we can rule anything out. Could be a Basin only deal with options attached.
Mr P those multi targets in the prospects are very important and in the example of SL effectively give us 5 bites at the cherry.
The first bite will come very early in proceedings as well. The point of re posting that segment of Mike Buck's Oil capital presentation may have got lost. He quotes Sinopec as costing based on a 25 day drill for SL and states that MATD are allowing 25-30 days. That was on the 14th March, yet in the rns of 13th February they quote 30-45 days. We could hit those shallow Turbidite fans within 7-14 days of spud.

"Afterall nothing much has changed (or happened) since all this 'potential farmi-in' bs started...."
I'm sorry to say the facts state otherwise Hoof.
MATD embarked on a 3D seismic campaign, very much at the request of potential farm in partners and as a result it has uncovered the Fox prospect with potential of 200MMbo for starters. Wild Horse prospective resources have increased from 290 MMbo to 480 MMbo and Red Deer, within the southern portion of Block XX, has been identified as of interest to other parties, with prospective resources of 48MMbo.You would have to be quite a bear to state that potential farm in partners wouldn't be impressed by these new findings.

Mr bucc, you saved me a job resourcing that presentation.
The section at 26 mins 45 secs is also highly relevant.
https://www.youtube.com/watch?v=oL9rbvLAjn4&feature=youtu.be

It goes without saying us Pi's only ever get part of the picture. Another analogy is getting intermittent pieces of the jigsaw and trying to knit them together. Continuing on my "pressure on potential farm in partners" MATD might well have said, right we can get a placing away to pay for Fox and Red Deer into 2019. We will give you a month to put up or shut up. They rather pertinently specifically stated that a farm in deal must be agreed before spud in today's RNS. The end of w/c 9th July is Friday 13th July. Perhaps they have given them a month from the placement announcement of 13th June to sign or walk away.
With a number of targets within Snow Leopard, the first of which is very shallow, we might get first results well before your 100 or so days is up. And why have you added 30 days onto the already very generous 70 days cited by the Company.

Listed companies should have the best interests of its share holders in mind when it adopts policy. Situations are constantly evolving and clearly the directors of MATD, decided that the longer term interests of us, the shareholders were best served by embarking upon a second placing. As has been stated by myself and others, this was probably to put pressure on the still engaged potential farm in partners and to secure the drilling of two of the most interesting prospects within the portfolio. Very importantly it also took pressure off the 2018 programme and acted as an insurance policy going forward. Not a panic move as some have suggested but a prudent move. Better now than say after Snow Leopard, which I half expected, had it not produced the results we all want.
Mr SM123, I know it's not very difficult but you have me confused. Last week you stated that you would not be surprised to see the shares drop to 7 or 8p and just now you posted that you are not selling at these prices. Does that mean that you expect the share price to rise from these levels?

is both interesting and significant.
The first relatively shallow turbidite concept is proven it opens up the whole 200 MMbo. The first primary target of 20 MMbo is quite shallow as well.

on a direct link:
http://www.petromatadgroup.com/wp-content/uploads/2018/06/Company-presentation-June-2018-final.pdf

that the 1,000,000 trades after yesterday's close were a sell and buy back. Indeed on one of the sites that I use the second trade was timed at 17.32.31, which makes more sense. I also note that SM123 would not be surprised to see us drop to 7-8p which rather begs the question, why doesn't he sell.

More than likely the same trade - one out and one back in. I suppose you could call that a flipper.

Perhaps Exxon Mobil are in the frame:) "getting extra funds not needed imminently" If Snow Leopard doesn't come in, I'd have expected a fund raise before the spud of Wild Horse. Short term pain, mid term gain.

I said previously that the placing puts pressure on potential partners to put up or shut up and gave next Spring (when they plan to drill the two new prospects in which farmees have shown specific interest) as the deadline cut off point. On reflection this is wrong. The first pressure point is between the announcement of the placing and the drilling of Snow Leopard. I say this because I believe the approval of the placing is a formality but admit that its approval date will focus the minds of parties that have shown an interest. Whether it would be cancelled or not who knows. But it does mean that PM would now get a better deal. Let's not forget BG Group got 78% for £24 million when MATD were up a creek without a paddle. Now we have 6 fully funded wells, with considerably more prospective resources. The reason I give Snow Leopard (and it follows subsequent drills) as the real pressure point for potential farm-ins, is because success would change the ball game completely. It would open up all sorts of financing possibilities with MATD potentially having to give up very little in terms of equity. It would probably retain 78% rather than have to give it up. So when potential partners are weighing up the risks vs rewards they will be fully aware that the clock is ticking.

As readers will know, I'm not a fan of the mystic megs but I do believe people's estimates of the share price rise on a strike are well wide of the mark on the downside. Interestingly the graphic for Snow Leopard on the Company's web site only shows 2 of the three secondary targets as well as the two main targets. I assume that the third has been identified by the technical team since November 2017. That gives 5 individual targets on the way to TD.

Yes but as I understand it, the secondary targets offer an upside for Snow Leopard of over 200 MMbo.

To be fair CHAR only had 10% of a prospective 768 MMbo. MATD on Snow Leopard are targetting a potential 200 MMbo with 100%. And as we all know the placing was more about the future than the present.

Yes, we shouldn't lose sight of the fact that whatever is posted on these boards, we all have access to the same information.

Quite likely I've missed it but where have you seen a COS for Red Deer? Also I believe it's prospective resources are around 4 times that of Gazelle, 140 kms to the north. 48 MMbo vs 13 MMbo.

from the two rns's: "The first well in the campaign is intended to drill the Snow Leopard prospect in the Taats Basin in Block V. The well has two main targets which management estimate has a mid-case recoverable prospective resource of 90MMbo. The well also has three additional secondary targets which provide upside potential including a lacustrine turbidite play fairway which, if proven, could offer substantial upside in the area of Snow Leopard of over 200MMbo. " "The Company currently anticipates spudding the Gazelle prospect in Q3 2018. " " This is the most significant exploration campaign in Mongolia for a number of years and I look forward to reporting on its progress once it kicks off in July 2018 with the spudding of the Snow Leopard-1 well."

https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/results-of-placing/201806140700043776R/

has a potential upside of 200 MMbo if secondary targets are included and surely with specific mention of the Tugrug Basin and the Red Deer prospect as having generated interest from potential farm in partners, this funding can only put pressure on those companies. In effect they have until next Spring to put up or shut up.