Member Info for Proselenes

Dont forget, they are presenting in London at the Proactive Investors Oil Capital event this Thursday

https://www.proactiveinvestors.co.uk/register/event_details/225

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Serenity at this size........worth 250p

Share price of I3E might take a day or two to reflect a lump of that. Looking for 150p short term now.

Should rise to about 150p ahead of the next drill.

Dont let the shorters buy back cheap.......hold on, hold them shares tight, make the shorters suffer.......... :)

Highlights:

-- The Serenity 13/23c-10 well was successfully drilled on the Company's 100% owned Serenity prospect and is an oil discovery, with preliminary well results that are consistent with i3 Energy's pre-drill estimate of 197 MMbbls STOIIP for the entire Serenity closure within the Company's licence area

-- The Liberator 13/23c-9 well findings have now been integrated with recently acquired seismic data, resulting in Liberator remapping as follows:

o Phase I development area to target 63 MMbbls STOIIP via up to 4 wells with the Company's revised expected recoverable reserves of 23 MMbbls

o Phase II prospective area to target 396 MMbbls STOIIP through future exploration drilling

o Liberator findings presentation available today on i3's website at http://www.i3.energy

-- After planned plugging and abandonment of Serenity well 13/23c-10, the Borgland Dolphin semi-submersible rig will mobilise back to the Liberator field to drill a pilot hole at a future development well at the remapped L2 structural high (approximately 500 meters north east of the 13/23c-9 well)

:)

Working link :

http://bloombergtv.mn/post/58338/

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A White Crane...... is of course.........A Heron

mpls, yes, expect reinterpretaton to be complete in December, if not before.

Expect big prospects at the south of the Tamtsag basin now......around Erdenetsagaan. Mike said he wants that area included in the exploitation license.......I know why :)

Looks like dusterhater has given up pretending to own MATD shares and resumed all out deramping now.... LOL

What a prize idiot. More lies and twists to come from him.

Alll we are seeing now is profit taking, it will end soon. The share price was down at 3p to buy recently. Once thats done the buyers will take over and the share price will stabilise and rise again. Just a case of fill yer boots now and be patient.

Lots of news flow ahead and we will soon be into production. Upgrades and upsides to come. The derampers will keep hammering on about a placing now as they want people to sell - just ignore the muppets, they have no clue whatsoever. Fill yer boots is what should be going on, the future is very bright.

You will notice say like ECO - who have no cash to develop, no chance to pay to develop and only money left for 3 or 4 more drills..............then they are bankrupt - do you see the same derampers posting there ? No ? or are they ramping that under a different user name ? ECO has no cash to develop and is bankrupt next year when the next drills are done - maybe they should focus their deramping over there as they have no funds to develop any assets they have.

I dont see dilution as an option, and Mike refers to Free Cash Flow significantly and incremental increases.

His game plan will be, so move ahead and get Heron-1 on production asap and move ahead with Heron-2 - and try to get some bank debt and/or farm out done. If those come in he can move ahead more quickly, if not then just want for the FCF to allow the next well to be drilled.

Anyone talking of a placing now is talking complete and utter nonsense. If they would do that it would only be after Exploitation License is awarded and Heron-1 is on production already - with the reason being for the fund raise then - to drill Velociraptor and Phoenix.

They are talking about it as they want to scare people into selling, get the share price down, then they will buy.

After they buy they will then say......no placing needed, well done Mike. This is standard behavior.

Generally with Derampers :

When a share they are deramping has good news - they suddenly bought in before the good news. (imaginary trades)

then

They sold out for a profit (imaginary trades)

Then

They think a placing is coming (eg I am ****ed off its had good news and want the share price to go back down again)

They can decamp as an outsider but its better if they deramp as an insider.....so claim to hold shares, then they think its more powerful when they try to scare people. MATD has its derampers........

Very good interview with Mike which confirms all what was suspected.

https://audioboom.com/posts/7407804-valuethemarkets-podcast-027-with-mike-buck-ceo-of-petro-matad-matd

Heron-1 exploitation license application in process, we will see production in Q1 2020.

Incremental well count using FCF (eg no plans for any placing, generate the cash, get another well done on Heron - basic option pending band debt or farm out).

Confirms enough cash left for a cheap drill (2nd Heron well)

Heron size upgrades possible.

Gazelle - potential for thicker net pay meaning Gazelle may be a commercial size discovery.

South Tamtsag Basin (Erdenetsagaan area) potential for sone very material sized prospects now following Gazelle strat trap play prove.

No plans as yet for Phoenix or Raptor in 2020 however very interesting that they might consider using a truck mounted rig to drill bore holes into them in Block V, or at least VelociRaptor in Block V. The bore hole approach has been done before - very cheap way of proving oil or not. I like that, thinking outside the box.

Certainly looks very exciting and Mike has intimated quite clearly they have the cash to move forward in a steady way, getting Block XX into production and incrementally increasing production and therefore incrementally increasing Free Cash Flow to then reinvest.

Try this one.....

https://tinyurl.com/y3evd6nr

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http://unuudur.mn/petro-matad-??-????????-???-???????-?????????-??????-???-?????????-?????????-??????-????-????/

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Snippets coming out in the Mongolian media now after interviews with Mongolian staff.

Expecting Heron to be much larger that 25 MMBO as no water cut found.

Gazelle unable to test now due to the enforced delays at Heron-1 with the permit, they expect to flow oil to surface from the 3.2M section and believe that as this is on the edge, there is much thicker pay to be found at a different location.

quote.

According to estimates from the drill hole, 25 million barrels of oil can be extracted from this deposit. However, this number may increase due to the fact that no water has been released from this well. They are carrying out now a number of jobs, including exploration, resource estimation, development plans, and transfer of land use.

Due to the barriers in the company's work, the Chinese drilling company paid for the idle and lost time. If you worked on the plan, you could experiment with the "Gazelle" borehole. Interestingly, the oil in "Gazelle" was drilled 5 km east of the Heron. There was a period of 3.2 meters thick, which could contain oils that could flow into the bore. If it is drilled to the top of the embankment, it is more likely to have a thicker zone.

I think they will not raise anything and will use bank debt and farm out................ simple, most effective in shareholder value creation.

Mike and the other directors purchased loads of shares at 10p.............they want their shares making profit.

All companies in the AGM's renew or increase the ability to issue shares, its very normal. It has to be renewed each year. Like the directors nomination.

There is no need for any placing. They have enough cash for Heron-2 as they did not complete the 2019 drilling, Velociraptor was not drilled and so all that money is saved.

They can borrow money against Heron, once its got the Exploitation License done. All this talk of placing is just to try to scare people into selling.

This is the link to listen to:

https://tinyurl.com/y2wt6538

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At this juncture its worth listening to this again :

****************************/media/5d1c7c24052336001724ebdf/

New interviews will be done this week/next week - ahead of the AGM.

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