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Why would anyone sell when Heron-1, an appraisal well, just 1km from a well drilled that discovered oil, testing the same formation....of proven oil.......worth 18p a share to MATD........is due to go through target this week and news on it next week.

I mean.....if the share price was 30p then ok........but not when its 6p or 7p and you have 18p of potential upside just a week away and Red Deer-1 worth 32p a share in for free.........

Something is brewing in the background........and its not the meeting room coffee...........

PetroMatad FinancialsToday 07:31
2019 Mongolia drilling campaign kick-off

Petro Matad 12 July 2019 Update

Financials

Petro Matad closed FY18 with $2.1m of cash and $19.2m of financial assets, enough to cover its four-well 2019/20 exploration and appraisal campaign. Additional funding would be required to commit to an exploration programme and to support group G&A beyond 2020. We assume a short-term debt facility for the initial two years of development (over 2021 and 2022).

We assume a capex cost of $15m for the 2019/20 well programme including contingency but excluding overheads and PSC costs, with a cost of $3m for Heron, $3m for Gazelle, $3m for Red Deer, $4m for Velociraptor and $2m for geological studies.
https://tinyurl.com/y3egbpn9

Red Deer-1 32p a share
Heron-1 18p a share
Gazelle-1 8p a share

Any of those strike they can farm out 50% .

And money left over for the 4th well which will not be drilled this year. No placing needed.

Wait for drill results . I hold all my shares.........happy to hold and wait for news.

Heron-1 well should be into target zones this week.

Red Deer-1 update expected later this week I think, 50/50 as to good or bad still, duster or gusher....nobody knows.

I am holding all my MATD awaiting RD-1 and Heron-1 and Gazelle-1 drilling results. Even little Gazelle-1 is worth 8p a share on Pmean.

Hope everyone had a good weekend. Whats this crap about PLACING ? Have people sold and want to get the price down ? MATD are funded for 4 wells including testing of them. They dont need to raise money at the moment. If they strike oil and farm out 50% to PetroChina they wont need to raise money at all. That is their plan, if they strike oil they farm out 50%.......

Hallowed. Based on NPV10 value for the Pmean figure for Heron

Some are saying that its the IC (print version) buy comment on JOG that caused the rise yesterday. I dont buy that.

We all knew the the internet links early in the week that IC would again say buy. Thats a known. Its actually just a reiteration of their ongoing buy rating. The print version is not going to incite sudden buying when its known already.

What I would say is that sometimes some astute buying is timed in to when the IC is released..... so someone knows something but does not want to draw attention to it so they wait for the opportune moment (day IC is released in print) and then buy a load of shares so everyone says....Ahh...IC is out thats why sudden buying of lumps.

Bodes well, some kind of news is not too far away I think.

I never use stop losses. Been glad I never did after watching that RKH treeshake nearly a decade ago.....where the price was taken down 60% and knocked out all the stop losses before rising hundreds of percent back upwards.

What I find most strange this time with MATD, is normally on a duster they pump the price and offload.

The last dusters there has never been a drop like this. The big well for MATD is Heron - worth 18p and their best chance - and that will not be into target zones until next week.

So why after all the dusters and never a sell off, is there a sell off this time and for Red Deer which is their most risky well (lowest CoS) ?

Most strange, anyway, I hold, none sold. Wait for news. Expecting the worst but equally happy to celebrate success if that happens.

All the matters is official news, be it bad or good, so be it. But I will wait for it.

I just hold for news now....no point reading BB's.

I mean, this is in fact the total inverse of last time.

Snow Leopard-1 volume spike, move upwards - later duster.

Wild Horse-1 volume spike, move upwards - later duster.

Red Deer-1 volume spike, move downwards........its either someone knows its a duster, or someone is shaking the hell out of the price to hoover up as much stock as possible before an oil strike.

Still is 50/50........Duster or Gusher.......just wait for the news. Expect a duster and jump for joy if its not. Same as every oil drill for every company.

Enjoy the ride !!!

By the way, this week (the late summer bank holiday weekend week) is normally one of the very lowest volume weeks on the markets. Meaning small selling or buying has a big effect on share prices as there is no liquidity - minimal volume.

The good news, next week everyone is back from summer holidays, at their desks and looking to reinvest their money.

MATD have got the absolute best time in the year to release good news (week commencing 2nd Sept)..........just got to hope its good and not bad news.

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The same negative vibes that saw the ECO share price plunge downwards over the days leading up to..............an oil discovery RNS.

LOL :) Volume is key for leaks........below 10 million shares traded in a day is a normal day for MATD. Over 10 million then start looking for news.......... if any leaks.

ECO.......proven oil 37 MMBO. NO PRODUCTION. NO REVENUE. Market cap nearly 300 million GBP.

Many examples out there if you want to know. JOG....proven oil 123 MMBO......market cap nowhere near ECO........way undervalued.

I would agree with that. Equinor sign on the dotted line and we should be around the 500p level. The discount to risked NAV will dramatically reduce once Equinor are on confirmed.

Does not matter if the price falls short term to 6p or up to 9p.......all the matters are the results of the wells.

Red Deer-1 - if its a duster, so be it. If it strikes oil, then MATD have a bigger discovery (net to the company) than ECO have with Jethro.

Heron-1 - If it strikes oil then MATD have a bigger discovery than ECO are trying to drill with Joe. The difference of having 100% of smaller sizes than just 15% of something bigger.

Its all huff and puff and waffle now...........all the matters is drill results. ECO have been successful and their market cap for 37MMBO net of Jethro is nearly 300 million pounds.

MATD are not successful and so market cap is 50 million pounds.

If MATD strike oil - multi bagger........and if not.......hello lower share price :)

Block XX South has prospects and leads of 600 MMBO recoverable, 100% owned by MATD. So if Red Deer-1 proves oil in Block XX South - then BOOM.

In ECO terms.......600 MMBO recoverable 100% owned by MATD is the same as ECO drilling for 4 Billion recoverable barrels with 15% ownership.

Hence.......ECO is a good comparison as to where MATD share price could be going, if they strike oil at Red Deer-1.

However, its exploration and Red Deer-1 is more likely to be a DUSTER than a strike. Thats reality.

However, with Heron-1 a very very high CoS appraisal, and it being worth 18p a share..........you basically get Red Deer-1 results for free and then wait for Heron-1 results. Only a muppet would sell Red Deer-1 news if bad as you just have to wait a week for Heron-1 news.

I have a fund ready to buy Red Deer-1 bad news, if the share price falls below 5p - so I can make a big profit then on Heron-1 news. However, if Red Deer-1 news is not bad, my current large MATD holding is going to make a very big profit.

Enjoy the ride !!!!

In the link below :

https://www.investorschronicle.co.uk/comment/2019/08/27/jersey-s-licensing-award-to-boost-shareholder-value/

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Well, I have been using 1 antivirus and 1 only for decades now. Never had a virus ever. I use it because it has very low system loading (so it does not slow your computer down) but also has over the years captured all viruses and eliminated them before they infect the computer. It costs something like 20 pounds a year, but its absolutely worth it. NOD32 from ESET cannot be more highly recommended.

https://www.eset.com/int/home/antivirus/download/

30 day trial or buy.

Once you remove these bloated antivirus programs like Norton or Mcafee or Avast or AVG which slow your computer down and use something like NOD32 you will I am pretty sure see your computer speed up like new again.

Anyway, enough on AV..........markets open again soon, back to JOG :)

For the paranoid, you can put any link into here and check for Malware and Virus before you open it. This is a virus check web page for links and files.

https://vms.drweb.com/online/?lng=en

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Trouble is some systems are so sensitive now they flag up any external files as potentially dangerous. I mean, do they expect you to live life in a cocoon.

Anyway, the files has zero virus and is totally clean.

Block XX South has leads and prospects totaling potential recoverable resources of over 600 MMBO of oil.

So if Red Deer-1 strikes oil, it derisks a large amount of other prospects and leads.

600 MMBO 100% owned potential recoverable resources is absolutely massive.

If Red Deer-1 is a duster, so be it, thats life in exploration. But if it strikes oil then the upside will be spectacular.