Member Info for Proselenes

Ojay, depends if they are filling buy orders.........if they are filling buy orders then they want the price to appear weak and shake out sellers to pick up stock cheaply.

Chunky buy, over the offer price....someone wanted that lump of stock.

Yes its a tight hole.

When a company says in their spudding RNS that there will be an update when drilling is completed, then its a tight hole. No updates until TD.

Location does help, there is no mobile phone signal there.

Comms is only via Satellite Phone. Drilling crew are all Chinese. So Comms is highly restricted and its not possible for Chinese to buy UK stocks, so no point in telling family members, they cannot buy any shares anyway.

These things happen. I would expect 4 to 6 weeks delay. Wonder if the hot AAOG money is going to fly into MATD today as they are on day 58 of the Snow Leopard-1 drill.

Hamm.

There are 2 main target zones and 2 secondary target zones, and also a couple of other zones of interest.

The 2 main (filled star) and 2 secondary (unfilled star) are in the pic link below :

http://oi63.tinypic.com/xdt5d3.jpg

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If you have a single target zone at the bottom near TD, yes you can drill fast and smash your way asap if you want.

You don't drill fast through target zones......you drill slow so as not to damage the formation for later testing.

SL-1 has about 6 target zones (2 primary and 4 secondary).

So its going to be drilled very slowly..........target zones all the way to TD.

It was the companies expectation that the well could be drilled in 50 days, however the drilling rig operator told the company the well would take 70 days.

As we stand now its day 58 and so............ 12 days or more to go to completion of drilling ops should be expected.....anything sooner is early.

Back to very low volume again, not even going to make 2.5 million total volume.

Should be into the main target zone now.......... sit back, relax and wait for news.

Friday might have just been a pump and dump.......opposite of the past days where the traders short MATD with a load of sells in the morning, try to snowball more selling and a drop in the price and then buy back in the afternoon.

So Friday morning they buy some hoping to trigger a quick rise in the price causing watchers to buy thinking news is coming, then they sell off in the afternoon for a quick 5% profit on the day.

8 million shares is not that much over normal averages for volume.

Easy to manipulate this one given nervous holders and watchers...........short attack for a few days until its not making any difference anymore and everyone who is selling has sold, then reverse and pump the price to get watchers buying in and trying to trigger a snowball effect of buyers.

Monday will reveal all, a big 20 million plus shares traded day and then something is leaking, if its back to normal of less than 6 million shares, then not a lot happening.

Always watch the volume imo.........if the volume is not there and not carrying through............its just being manipulated.

Exactly Manro, BG technical team were excellent...............they loved Blocks IV and V and in particular liked the Snow Leopard area of Block V.

In due course.............we shall see.

Snow Leopard 90 MMBO recoverable is worth 60p a share to MATD once tested and proven - and the upside of 500 MMBO to 700 MMBO recoverable in the surrounding area that is immediately derisked by an Snow Leopard success is worth......well........lots.

Dont forget, it was the drill rig operator that told MATD it would take 70 days to drill..................

The rigs are drilling in the known blocks in the north west, lots of wells are sunk there, they know the geology very well and can drill fast.

This is a drill in an area thats not been drilled before, so they are going to take it slow, dont take any risks. If they have oil shows in the dilling mud they would have slowed down so as not to damage the formation. Lots of things could make the drill slower than anticipated.

Perhaps we might be into the main target zone over the weekend ? Who knows....just sit back, relax and wait :)

I think the MM's are level book on this.

The regular selling (and buy back afternoon) appears to just have been shorters trying to make a snowball effect and get people to sell............then when they all sell and the price dips they buy back in the afternoon the lumps they sold in the morning to frighten people into selling.

Level book means.........if there is good news and its still an IF...........then if there is..........the share price is going to fly upwards.

Spread is nonsense.

Showing 8.2 / 8.5

Can sell at 8.36

Can buy at 8.485

Mid price is 8.35 so you can sell above mid price at this moment in time.

Another drifting day I think.

Volume is very low. Nobody knows whats happening.

Shorts are nervous as good news will hurt them badly, but they are paying the odds game.

Longs are nervous, nature of the game when the COF is much higher than the COS, but reward might favour the brave.

Watchers are waiting, hoping for a duster so they can buy cheaper ahead of Wild Horse-1

And so it will remain........until either a big volume day of 20 millions shares or more might point the direction, or news itself comes causing that big volume day.

Trades were interesting yesterday.

500K in sells and 500K in buys appear to be the same - looks like a shorter trying to keep a lid on the price for now and seeing if they can start an avalanche of sells by selling as buying pressure eases - failed yesterday, and they lost money buying back. I just hope they do the same if good news comes, like midday RNS to catch them cold)

5 off 100K sells timed earlier.......... failed to snowball selling. Then 100K, 125K, 25K and 250K buy backs into close once the snowball failed to happen.

Just mixing the pattern up to disguise its the same 500K sold earlier.

If they have a reasonable sized short they will day trade short like this to keep the price down, keep people nervous and try to make them sell. Obviously selling it off during the day to weaken the price, then buying back late in the day shows they dont want to increase their short, just keep a lid on the price so as not to run up losses on their short ahead of news.

Watch the trades........a pattern is emerging................

:)

Volume drop off continues.....might not even make 3 million traded today.

Florida, nothing has changed, yet.

All I am suggesting is that maybe the reason for the delay for the drilling rig contract for Block XX is maybe due to MB wanting to see if SL-1 is a discovery or not. If it is a discovery, then things may change, and if not, then no change.

Victor, I would say no.

If SL-1 is not good then you would proceed with the original plan. That would be the way I would handle it.

Only a small window for any SL-1 success or failure to switch things around.

Florida.........situations change.

Ahead of drilling MATD raised money with a plan and will work to the plan. Now, if something material happens (like a strike at SL-1) then MB can easily change the forward plan to suit the latest developments.

If they strike at SL-1 then nobody in their mind would question the sensibility of appraising that discovery asap, as it will add far more value to shareholders than drilling Block XX (which has issues and carries a legal risk).

What adds more value to shareholders........... ?

If you strike at SL-1 and then appraise it - that adds way more value than continuing with drilling Block XX which has issues.

If I were MB I would certainly scrap the plan for Block XX on a major development such as oil strike at SL-1.

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