Member Info for Proselenes

Red Deer is a key well......... massive upside (600 MMBO recoverable in nearby leads and prospects and all 600 MMBO recoverable is 100% owned).

It would be mean a new basin open in Mongolia and it would mean MATD are going to be a very large cap company in future.

The downside is now limited, as Heron is good.

Whilst the share price would be hit if Red Deer-1 fails, it will recover on flow testing and commercial declaration of Heron later.

Next week is now the point at which the share price will fly on Red Deer-1 news, or people can get in cheap before Heron-1 gets flow tested and declared commercial.

For those holding, like me - you keep holding and add more........there is limited downside IMO as any Red Deer-1 bad result will be wiped away with Heron-1 flow testing news later. You can either win the lottery with Red Deer-1 good news, or just suffer short term pain before on Red Deer bad news before recovery with Heron flow testing and Gazelle.

Red Deer is next..............Less hopeful on Red Deer but it opens up 600 MMBO of recoverable oil for MATD in Block XX South with what would be other derisked leads and prospects, so if it comes in, its massive - so a high risk high rewards well is RD-1.

Thats next week news :)............roll on that.

Flow test results and the declaration of commerciality that should be coming once the test rig gets on site will be the RNS that fires MATD up on Heron-1 results.

Of course, before that comes Red Deer-1.......... which may of course fire the share price up as well.

The SP will surge strongly once flow testing is done.

Flow testing is key now, once that box is ticked off the true value will be shown on the share price. Now is the time to fill yer boots.................

Get flow testing ticked off and we will then get an update on recoverable MMBO for Heron. I would expect now around 40 MMBO recoverable from Heron. Thats worth 30p a share.

So just got to hold on now and wait for flow test results - once flow testing is done then the major rerating can occur upwards..........patience and accumulate on any dips.

To be fair.......... you SHOULD KNOW.......that they have to flow test it before they can class it as an oil discovery. Given you should know that you are trying to be extremely disingenuous this morning.

Let me guess........you want to buy some MATD stock but dont want the price to rise too much....... ?? LOL

When Mike says 5 meters earlier, Better than Expected..........it means..............this is better than was expected.........upside :)

5 meters earlier than expected means upside........means bigger reservoir size. Better properties mean more recoverable oil.......looks like Heron may well deliver 40 MMBO.

They cannot announce oil discovery until its flow tested............the testing rig is being made ready now. Once its flow tested then it moves to oil discovery................. thats all we await now, the testing rig to get on site, flow test it and then bang...............massive upside.

And to put that into perspective...... If Heron delivers upside......42 MMBO recoverable.........thats 100% owned......and so MATD would have more oil than ECO currently have with their small share of Jethro........

Whats the ECO market cap ?

Hopefully both ECO and MATD deliver more oil next week...... with Red Deer and Joe !! Fingers crossed for more oil discoveries for the AIM small companies.

I like the way that every was in line with pre-drill estimates and in line with the PetroChina producing wells - that tells you prior to testing its 99.9% going to be a producer. However, Mike also hints at upside and better reservoir.......which means.......recoverable oil estimates likely to be to the high side, above the mean figure of 25 MMBO recoverable.

Lovely news........... Finally..........Oil for MATD

For info in case MATD strike oil :

Heron-1 smallest size 11 MMBO recoverable - 8p a share
Heron-1 Pmean size 25 MMBO recoverable - 18p a share
Heron-1 Best case size 42 MMBO recoverable - 30p a share

Hurrrrahhhh.............. we have oil and we have zones that were better than pre-drill expectations.

Cannot ask for more.

Heron to be 40 MMBO recoverable.......top side of estimates ?

Excellent results..........better than expected.

Now on to flow testing of Heron-1

RNS later in the week good news.

All some people are trying to do is panic people into selling.............RNS expected Wed or Thu. The later it is, the better.

So that would be my estimate, initial Heron-1 news can double the share price if oil strike. Further upside on flow testing and then reservoir estimates.

The one that could send MATD into blue sky gains is the week after next and Red Deer-1, if that strikes oil then a double again to 30p levels should be easy to achieve.

Again, both will offer more upside once flow testing results are out and estimates of reservoir size are known.

PetroChina flow tested 19-46-3 at commercial rates, so there is no reason to think that Heron-1 will also not flow at commercial rates if/when oil is struck.

Need to get that testing rig in asap if its an oil strike, get some reservoir data and then they can start to suggest on potential size. Heron could be between 11 MMBO and 42 MMBO recoverable........so there is a big price range that MATD could be.

I would expect at 15p to 20p range on Heron-1 oil strike........and then we await the testing data from the testing rig to see if we get an upgrade on potential reserves...... Heron alone could be worth up to 30p a share if it comes in to top sides of estimates.

But that upside from the flow testing will come later as before that comes Red Deer-1 result. Higher risk is Red Deer-1 but also bigger size and the key to derisking some 600 MMBO recoverable in Block XX South prospects/leads. Red Deer alone ranges from 20 MMBO to 82 MMBO recoverable and thats up to 61p a share on its own - not including the other prospects and leads that might be derisked leading to 600 MMBO recoverable more in potential in Block XX South.

Bloody exciting few weeks/months ahead......no other stock on AIM has this upside potential, where the share price could be over 1000% higher by the end of the year in the success case of wells and then flow testing.

If Petro Matad strike oil then PetroChina will attempt to farm in.

PetroChina will develop oil discoveries.

They will not go exploring - so the basics are Petro Matad explores and then on discoveries PetroChina farm in and help development.

Petro Matad then becomes a producer/explorer and is able to fund going elephant hunting in Blocks V and IV from their own free cash flow.......and not go about diluting with placings.

This is why they have held back drill 4...........because they dont want to run out of cash.

If Heron-1 or Red Deer-1 or Gazelle-1 or all of them strike oil they can get these fast tracked into production and generate funds........ and they can use drill 4 funds to do that or they can farm out to PetroChina for development which releases drill 4 money to go drill another well. In the meantime production starts (they have pumps already as Mike has said in the presentation) and they start generating cash.

All looks very rosy, just need Heron-1 to deliver oil this coming week.

To show how close it is.....look at the 3 images below which show just how close it is to the PetroChina 19-46-3 well.....

1/ https://i.ibb.co/VQcF4YQ/MAP.jpg Overview Map

2/ https://i.ibb.co/C2hmKPN/Heron.jpg Satellite image

3/ https://i.ibb.co/3Mst5Gz/Close-up.jpg Close up

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Everyone should watch the March 2019 presentation video over and over and over............

https://www.youtube.com/watch?v=vwg5tW00E6A

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My values:

For info in case MATD strike oil :

Heron-1 smallest size 11 MMBO recoverable - 8p a share
Heron-1 Pmean size 25 MMBO recoverable - 18p a share
Heron-1 Best case size 42 MMBO recoverable - 30p a share

Red Deer-1 smallest size 20 MMBO recoverable - 15p a share
Red Deer-1 Pmean size 43 MMBO recoverable - 32p a share
Red Deer-1 Best case size 82 MMBO recoverable - 61p a share

Gazelle-1 smallest size 6 MMBO recoverable - 4p a share
Gazelle-1 Pmean size 12 MMBO recoverable - 8p a share
Gazelle-1 Best case size 22 MMBO recoverable - 14p a share

Heron-1 high chance of success (appraisal)
Red Deer-1 lowest chance of success (exploration)
Gazelle-1 high chance of success (appraisal)