Member Info for Proselenes

Yes, CoS in the Broker Note.

https://nofile.io/f/j90GYESdoet/MATD.pdf

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All three wells in Blocks IV and V are unrelated. Different basins.

Fox-1 has bright spot on 3D and also live oil in a nearby coring well, its the most low risk of the three Block IV and V wells. Very likely to strike.

Snow Leopard-1 was a fill in well if you like, the original plan was for Falcon-1 in Block V and Wild Horse-1 in Block IV.

However the 3D which highlighted how good Fox-1 is, also showed Falcon-1 to much smaller and so it was decided to drop Falcon-1. The only drill ready target left on Block V was Snow Leopard-1 and so this is why they drilled Snow Leopard-1 to comply with the spend requirement on the license block. They had underspent on Block V, now with SL-1 the spend is over the government requirement and so the license is in full compliance. So sadly SL-1 fulfills the spend requirement and allows Fox-1 next year............but Fox-1 is the highly prospective target with live oil in coring and bright spot on 3D.

Biggest hope for me is around Fox-1.........thats the Hail Mary savior for big upside should WH-1 fail.

So yes, thats where we are, SL-1 on Block V was a quickly moved to the front drill, given the new 3D showing Falcon-1 on Block V was not ideal and Fox-1 was new and unapproved. A well had to be drilled on Block V to comply with the license terms, and so it was SL-1.

However.......... Wild Horse-1 was always planned and its the well that Shell want to see drilled. And so it is, its up next........not long to wait.

Anybody with a brain would have checked the 2009 weather. It was an extremely cold year with minus 20 already at the start of Nov.

https://www.timeanddate.com/weather/mongolia/ulaanbaatar/historic?month=11&year=2009

Whereas 2018 is predicted to be a normal year, with minus 20 levels not seen until the more normal end of November. So 2018 the drilling season will end end of Nov.........unlike 2009, which you can see from the historic records in the link above, was an exceptionally cold year.

So my question to you is.........why did you not check ? You did not as you are just posting negative nonsense.

Wow...........so you are saying the weather in 2009 will be the same as in 2018.............like exactly the same............like there is no climate change.......and the weather is the same in every country every month of the year............

You are getting desperate as the price keeps going upwards.................. LOL

Embarassing ?

When you look at her current positions, education and all the influence she can bring in terms of dealing with government departments who can be tricky.............I think its excellent for MATD.

But of course, you are ignoring her positions, experience, education and just having the normal negative moan are you not............ LOL

Dear oh dear..................

I think it was an excellent shot to be holding for SL-1 results.

You could be holding stock around 8.5p levels and exposed to around 30p upside if they struck oil at SL-1.

Downside is the price is around 6.2p now and will rise above the 8.5p in the run up to WH-1 results.

So although down a bit now, the share price will rally back upwards as WH-1 progresses. Spud within 3 weeks and results by end of October. I'll wager now the share price is back above 8.5p some time before WH-1 results come in.

So all in all, if you waited you have got in around 1.5p cheaper per share entry point, but you run the risk of not getting 30p a share upside if SL-1 struck oil.

I like those kind of odds, minimal downside and marvelous upside potential, albeit it did not work this drill as it was a duster.

Have the idiots been buying at 2p today ? or 3p ? or 4p ? LOLOLOL

I have been buying, in the very low 6p levels this morning. My average price is now down to 7p. Wonder how long before my 7p is in profit. Not too many weeks I think :)

Lets see shall we............thread logged.........will revisit it in a few weeks :)

Have the idiots who forecast 2p, 3p, 4p and no Wild Horse-1 spud all showed themselves and posted and now we can name them ?

Thats the good thing about emotion, people say the most stupid things in the heat of the moment, now we can all look back through the mornings posts and note down the people who should be ignored and spout nonsense.

WH-1 should be completed by end of October now.

Off we go to Wild Horse-1.

480 Million barrels recoverable potential. Worth up to 320p a share.

Spud in the next 3 weeks.

The excitement builds again, and all those looking to buy in for Wild Horse-1 - now will be buying in.

Yes. On we go, next spud is WH-1 in the coming weeks.

I think there will be an update, between 7am and 9am with the AGM statement.

I believe there will be an update but I think it will simply be that drilling operations continue at SL-1 and they will update the market in the coming days (or weeks).

Drilling ongoing and update in the coming days (weeks) 50% chance

Duster and rig moving to WH-1 40% chance

Oil discovery and testing rig to be bought in 10% chance.

Thats pretty much where I think expectation is and that is reflected in the share price at the moment. As always though, things that are 90% may not happen and things that are 10% can happen. Just got to be patient and wait.

Still low volume. Only 2.5m at the moment, not even going to get anywhere near the average of around 4.5m shares traded volume for a day.

Was potentially strange that Malcy said on the 10th September he thinks results in 2 to 3 weeks.

So maybe he had a private chat with them after the interim results and got a feeling that things were a week or so behind the 70 day schedule and so to expect news later in September. Who knows.....................

Malcy said in his audio on the 10th September that he expected results anytime in the next 2 to 3 weeks - so prior to end September. Everyone wants the news now, but might have to wait for drilling to finish yet.

The audio is from 22 minutes and 55 seconds in, near the end. Link below.

https://tinyurl.com/ybd2uscb

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The update will either say :

We are still drilling

Drilling has completed and presently logging.

Duster and moving

Oil discovery and moving.

I think what a lot of people are missing is that Wild Horse-1 is expected to be drilled in 25 days by Sinopec as the geology is benign. Nothing untoward down there, easy and quick to drill. Sinopec said SL-1 would take 70 days as the geology is more complex and difficult. In these situations delays with more complex geology things are slower. Might take another week or two of drilling yet. Nobody knows........we may know some more tomorrow with either a 7am or 9am or 10am RNS.............

Looks to me like someone wanted a buy order filled, the 248K buy at 8.05p.

All trades this morning at 8p or below were sells - trigger by a quick move of the bid/offer down.............only trades over 8p were buys in the early opening trades.

Its just the way MM's fill buy orders.......shake it, knock stops, fill the buy order.

It is held in Mongolia as the Company Rules presently state that the AGM cannot be held in the United Kingdom. Also the Company Rules presently state the Chairman cannot be from the United Kingdom.

However, there are many amendments to the Company Rules up for vote at the AGM this year and two examples are that :

AGM can be held in the United Kingdom in future.
Chairman can be from the United Kingdom in future.

All the proposed changes are in the below, this will be voted on at the AGM.

www.petromatadgroup.com/wp-content/uploads/2018/08/Petro-Matad-Limited-MA-20-Sep-2018_blacklined.pdf

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You have to remember there are a lot of people wanting to buy in for Wild Horse-1. They want a duster at SL-1. They want the price to collapse so they can buy loads of shares cheap for WH-1.

They are the ones saying the price will collapse on a duster, they are ones saying winter is long, sell your shares. MATD is going to fund raise so sell your shares. Aliens are invading so sell your MATD shares.

They want people to sell, so they can buy cheaper.

The big difference between MATD and many other small oilers is that :

MATD are fully funded for 6 wells - each one of those 6 could be worth way more than the current share price.

Most junior oilers have enough money for 1 or maybe at best 2 wells. Everyone knows they have to raise money if the 1 drill fails( or even succeeds)..............so when they fail on that drill the price collapses.......... Not so with MATD.......... no need for fundraising, 6 wells to drill..........5 more if the first fails.

The MM's will mark down the price on a duster for sure............to gather sells and at the same time not allow anyone to buy...........and then, when the panic sellers have done the price will be raised sharply and then people will be allowed to buy. I would not expect MATD to end the trading day more than 10% down on a duster............simply too many people waiting to buy in for Wild Horse-1.

maestro, thats amazing.

Can you send me the links to these other companies that have released an RNS about oil shows on the way down BEFORE THEY HAVE DONE ANY LOGGING.

Would love to see them.................. so please send me the links to their RNS releases stating they have had some oil shows, continue drilling and not done any logging yet.

Seriously low volume today, will it even get to 1 million shares traded by close ?

I like it like this........news can then come into a flat market, leads to the biggest rises on good news and shallower drops on bad news.