Member Info for Proquo

I'm pretty clear that they wouldn't have sourced a beam pump, storage tanks and installed a completion string if they felt the well wasn't eventually going to come onstream. Also, there were better oil and gas shows than the original test in 2024 just on the first swab and clean-up ie before the acid wash was introduced to create even greater permeability. Everything points to there being a commercial rate going forward.

Doh!

Whoopsadaisy. Bouncing!

But you stay invested Master. That must tell you something.

This company still excites me. More going on than any other AIM oiler/green energy outfit. Just very clear who shouldn't be investing in AIM companies.

I think Buck is doing a great job. Making progress consistently, building a solid platform for sustainable growth.

Totally agree Abzzba.

It's clear to me from re-reading the RNS that the company has every expectation that H2 will come onstream. The greater oil and gas shows were actually before they even did the acid wash to free up the flow, they've sourced both a beam pump and storage facilities which are basically for future production - surely they wouldn't have gone as far as putting in a beam pump just for 640 barrels of injecting fluids? I'm reading this RNS as saying that they expect H2 to come onstream but can't yet say so definitively wrt flow rates etc.

And I say again, there's a reason Buck is crediting PetroChina so fulsomely. His stated wish is to have a Chinese partner.

Very satisfied with the update as an LTH.

We are the market!

I think the RNS is pretty straightforward. They need to pump out the existing well fluid accumulations to get a better idea of what's there but there are already stronger oil shows post-acidization than there were before. I'd say that's positive. Putting a beam pump in place straightaway seems to indicate that they're hopeful, if not expecting, to put the well into production.

Petrochina seem to be very helpful and Buck is going out of his way to praise them.

Yep, I had another decent top up this afternoon. Rude not to!

Oof! Hahaha

BTW, I still think that there is enough potential wriggle room in corporate disclosure rules for a farmee entity to ask Matad to hold off on releasing H2 results. MATD would be allowed to do so if they argued that releasing them whilst confidential discussions are ongoing would prejudice the company's legitimate interests.

Thanks for answering my next question in advance - I've been trying to find out if the injectivity test procedure is done using the workover rig. Thanks.

Of course, another real possibility is that the farmee entity has asked for H2 results to not be made public whilst negotiations are ongoing.

Plus there should still be ample time to get back to Gazelle but it seems that proving up the extent of resources through Gobi test has become a priority. Of course, such speculation depends on us reading the Gobi satellite image correctly!

Yes, it could be to do with farm-in. The 30th July RNS doesn't mention attempting to bring Gobi onstream this year but to test it to prove 'significant resource potential'. Bypassing Gazelle at this stage would suggest that proving resources has become more important than increasing production at Gazelle after the H2 works. Maybe. Maybe not.

It could be that. I'm certain Buck will want to issue a bombproof, watertight RNS based on exact figures of actual oil coming to surface over time. He'll want to avoid ambiguity for sure. Tbh there are still no real conclusions of success or failure to be taken from the time this has taken so far.

Just to point out that the RNS stated that the 'first phase' of works at H2 would take circa 20 days from the 25th August. Each person can decide for themselves what the first phase entailed.