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cash2, the original plan was Wildhorse and Falcon and Snow Leopard. As has been said the Falcon prospect looked much smaller on with the latest 3D. With the latest 3D they have found that the new Fox prospect looks excellent and so want to drill Fox-1 but that needs drilling permits applied. So they have simply removed Falcon, put SL-1 first and WH-1 second and will drill Fox in 2019.

I would say its encouraging that SL-1 is first. Listen to the Mike Buck audio again, he says he likes to drill the most promising ones first.........and he is drilling SL-1 and WH-1 first.............. If he could have drill permitting in place I am sure he would drill Fox-1 first........but as he says, needs to get those permits applied now so for sure can drill in 2019.

Snow Leopard-1 was always in the plans (used to be called Irves-1, name changed to Snow Leopard-1)

Listen to this, the CEO saying that Snow Leopard-1 was a favorite of BG. (download link below to download the audio which is 10th July Conference Call hosted by Mike Buck.

From 7 minutes in he talks about the 3D and that Snow Leopard-1 replaced Falcon and that it was a favorite of BG.

http://s000.tinyupload.com/?file_id=89956165754865029086

..

Download link for anyone who wants an easy link to download a copy of the Mike Buck audio.

http://s000.tinyupload.com/download.php?file_id=89956165754865029086

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All depends there are many scenarios here and each will end up with a different share price short term.

Complete duster - nothing at all..........Might be a 50% drop at first and then finish the day 20% down.

Oil shows - encouraging - Might be a 30% drop and finish the day 10% down.

However, imo, all drops will be short term as the herd and the watchers then all pile in for Wild Horse-1 in the days and weeks following SL-1 news.

Worth a listen. Its the (Petro Matad) MATD CEO talking last month.

HTTP://www.petromatadgroup.com/wp-content/uploads/2018/08/SM20180710-presentation.mp3

He says Super Majors have talked with MATD about farming in, and Shell is named as one as they want Wild Horse-1 drilled, but says that the Super Majors are just waiting in the wings.

They cannot get Frontier stuff through board approval for exploration, they want a discovery made and then very happy to pay a lot more money post initial discovery to farm in.

Which may be what happened with BPC, a similar low value up front offer to take an option on success........... so yes, it may be that BPC has to raise funds and drill a hole and strike oil before they will get a very good farm out deal.

Very interesting what Mike Buck says in relation to Super Majors wants for farm ins.

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Great post.

Super Majors waiting in the wings on discovery........and Shell is named................

.

I think they will be poking into the Main Target Monday......around then. With TD being around at the 60 day mark.

A few things :

AGM now on 20th Sept.

Interim results have to be released before 30th September.

So with SL-1 results coming soon, its likely SL-1 results first, then interims and operational update prior to the AGM.

The chart from Friday really does suggest that someone saw an RNS logged in the system at 2pm for release later in the day - and then sold and shorted MATD thinking it was drilling results duster being buried after hours on a Friday.

They got the AGM date RNS instead though............

Which suggests Tuesday morning (if no other news) they will be buying back what they shorted/sold - means we might start the day quite blue on Tuesday.

And to put some figures on mid-case values if they strike oil (which means no more risked values, they would be unrisked values in the event of an oil strike :

2018 Mid case oil strike - 100% owned

Snow Leopard-1 90 MMBO circa 60p a share (early Sep 2018 result)
Wild Horse-1 480 MMBO circa 320p a share (Nov 2018 result)
Gazelle 13 MMBO circa 8.5p a share (Oct 2018 result)
Drill TBC - ?? MMBO circa ?,? a share (tbc...will be in Block XX) (Nov 18 result)

2019 Mid case oil strike - 100% owned

Red Deer-1 48 MMBO circa 32p a share (May?jun 2019 result)
Fox-1 200 MMBO circa 132p a share (May/Jun 2019 result)

Of course, thats not taking into account all the other prospects being derisked if they do strike oil......which adds yet more value.

So there are plenty of back up all the way to mid next year.

Nobody needs to panic sell on a duster, nobody needs to get stressed, just don't use spread bets or other short term leverage imo, simply buy shares, sit back, relax and enjoy the drilling as it happens.

At the present share price even an oil strike at little high COS Gazelle later this year will cover the current share price based on mid-case size.
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Couple of tweaks to my earlier post

Petro Matad (MATD)

Fully funded six well high impact drilling program in Mongolia, total prospective resources targeted 850 MMBO, ranging from near field E&A to basin opener potential:

1) Snow Leopard-1 well (Block V)
- Spudded 9 Jul 2018, 70 days max to complete, "results end Aug, early September".

a) 90 mmbo recoverable from two main target depths (20 mmbo + 70 mmbo) ("Snow Leopard has 2 main target sections with c.90MMbo recoverable potential [mid case])"; plus

b) There could be oil in the shallow turbidite deposits opening up an extra 200+ mmbo play even before they hit the deeper levels. ("If shallow turbidite concept is proven then a large (200+ MMbo) combination trap play opens").

c) Additionally, there are "3 or more additional stacked pay zones identified as potential upside."

There are also 13 or 14 prospects/leads of up to 500 - 600 mmbo recoverable within 35 km of Snow Leopard 1 on their acreage. ("Success de-risks 14 prospects/leads with resource potential of c.500MMbo").

Slide 26: First Well 2018: Snow Leopard Prospect, Block V
hTTp://www.petromatadgroup.com/wp-content/uploads/2018/06/Company-presentation-June-2018-final.pdf.

2) Wild Horse-1 (Block IV)
- Spud Sep 2018, "results late Oct, early Nov".
- Targeting 480 MMBO.
- Named by Wood Mackenzie as in top 20 exploration wells worldwide to watch in 2018.

3) Block XX
- Near field Gazelle prospect targeting 13MMbo & rapid commercialization.
- Spud late Sep 2018, complete Oct 2018 (3 weeks).

4) Block XX
-TBC
-rapid commercialization
- Spud late Oct 2018, complete Nov 2018 (3 weeks).

5) New Red Deer prospect, 48MMbo in a basin analogous to nearby producing basins in Mongolia + northern China, within easy reach of existing infrastructure.
- Spud late April 2019, complete May 2019 (3 weeks).

6) Fox-1 (Block V)
- Spud early Q2 2019.
- Mean prospective resource 200 MMBO. High-quality 3D seismic late 2017.

5) Fully funded
- Oversubscribed placing in Jun 2018 provided final tranche of funding for all six wells above and management participated in placing.

- Country already produces 21,000 BOPD (2017) from fields close to Chinese border, including from Blocks XIX + XXI adjacent to Petro Matad’s Block XX. Very attractive fiscal terms).

And to put some figures on mid-case values :

Snow Leopard-1 90 MMBO circa 60p a share
Wild Horse-1 480 MMBO circa 320p a share
Red Dear-1 48 MMBO circa 32p a share
Gazelle 13 MMBO circa 8.5p a share

Of course, thats not taking into account all the other prospects being derisked if they do strike oil......which adds yet more value.

.

And to put some figures on mid-case values :

Snow Leopard-1 90 MMBO circa 60p a share
Wild Horse-1 480 MMBO circa 320p a share
Red Dear-1 48 MMBO circa 32p a share

Of course, thats not taking into account all the other prospects being derisked if they do strike oil......which adds yet more value.

.
Gazelle 13 MMBO circa 8.5p a share

Is the plan :

Snow Leopard-1
Wild Horse-1
Red Dear-1
Gazelle

All to be drilled and completed in the next 13 weeks.

So lots going on................... :)

Watch the video from 4 minutes 30 seconds........

DRILLING SEASON ENDS AT THE END OF NOVEMBER.

https://www.youtube.com/watch?v=ra79wR0_jS0

As stated by CEO Mike Buck.

:)

Viktor

I have just posted a video link where Mike Buck says (from 4 minutes and 30 seconds onwards) that the drilling season ends at the end of November.

Do you still want to argue, if so, go see Mike Buck and argue with him.

Watch the video from 4 minutes 30 seconds........

DRILLING SEASON ENDS AT THE END OF NOVEMBER.

https://www.youtube.com/watch?v=ra79wR0_jS0

As stated by CEO Mike Buck.

:)

Ends late November.........

Re-read the plan :

Petro Matad (MATD)

Fully funded six well high impact drilling program in Mongolia, total prospective resources targeted 850 MMBO, ranging from near field E&A to basin opener potential:

1) Snow Leopard-1 well (Block V)
- Spudded 9 Jul 2018, 70 days max to complete, "results end Aug, early September".

a) 90 mmbo recoverable from two main target depths (20 mmbo + 70 mmbo) ("Snow Leopard has 2 main target sections with c.90MMbo recoverable potential [mid case])"; plus

b) There could be oil in the shallow turbidite deposits opening up an extra 200+ mmbo play even before they hit the deeper levels. ("If shallow turbidite concept is proven then a large (200+ MMbo) combination trap play opens").

c) Additionally, there are "3 or more additional stacked pay zones identified as potential upside."

There are also 13 or 14 prospects/leads of up to 500 - 600 mmbo recoverable within 35 km of Snow Leopard 1 on their acreage. ("Success de-risks 14 prospects/leads with resource potential of c.500MMbo").

Slide 26: First Well 2018: Snow Leopard Prospect, Block V
hTTp://www.petromatadgroup.com/wp-content/uploads/2018/06/Company-presentation-June-2018-final.pdf.

2) Wild Horse-1 (Block IV)
- Spud Sep 2018, "results late Oct, early Nov".
- Targeting 480 MMBO.
- Named by Wood Mackenzie as in top 20 exploration wells worldwide to watch in 2018.

3) Block XX
- Near field Gazelle prospect targeting 13MMbo & rapid commercialization.
- Spud late Sep 2018, complete Oct 2018 (3 weeks).

- New Red Deer prospect, 48MMbo in a basin analogous to nearby producing basins in Mongolia + northern China, within easy reach of existing infrastructure.
- Spud late Oct 2018, complete Nov 2018 (3 weeks).

4) Fox-1 (Block V)
- Spud early Q2 2019.
- Mean prospective resource 200 MMBO. High-quality 3D seismic late 2017.

5) Fully funded
- Oversubscribed placing in Jun 2018 provided final tranche of funding for all six wells above and management participated in placing.

- Country already produces 21,000 BOPD (2017) from fields close to Chinese border, including from Blocks XIX + XXI adjacent to Petro Matad’s Block XX. Very attractive fiscal terms).

Petro Matad (MATD)

Fully funded six well high impact drilling program in Mongolia, total prospective resources targeted 850 MMBO, ranging from near field E&A to basin opener potential:

1) Snow Leopard-1 well (Block V)
- Spudded 9 Jul 2018, 70 days max to complete, "results end Aug, early September".

a) 90 mmbo recoverable from two main target depths (20 mmbo + 70 mmbo) ("Snow Leopard has 2 main target sections with c.90MMbo recoverable potential [mid case])"; plus

b) There could be oil in the shallow turbidite deposits opening up an extra 200+ mmbo play even before they hit the deeper levels. ("If shallow turbidite concept is proven then a large (200+ MMbo) combination trap play opens").

c) Additionally, there are "3 or more additional stacked pay zones identified as potential upside."

There are also 13 or 14 prospects/leads of up to 500 - 600 mmbo recoverable within 35 km of Snow Leopard 1 on their acreage. ("Success de-risks 14 prospects/leads with resource potential of c.500MMbo").

Slide 26: First Well 2018: Snow Leopard Prospect, Block V
hTTp://www.petromatadgroup.com/wp-content/uploads/2018/06/Company-presentation-June-2018-final.pdf.

2) Wild Horse-1 (Block IV)
- Spud Sep 2018, "results late Oct, early Nov".
- Targeting 480 MMBO.
- Named by Wood Mackenzie as in top 20 exploration wells worldwide to watch in 2018.

3) Block XX
- Near field Gazelle prospect targeting 13MMbo & rapid commercialization.
- Spud late Sep 2018, complete Oct 2018 (3 weeks).

- New Red Deer prospect, 48MMbo in a basin analogous to nearby producing basins in Mongolia + northern China, within easy reach of existing infrastructure.
- Spud late Oct 2018, complete Nov 2018 (3 weeks).

4) Fox-1 (Block V)
- Spud early Q2 2019.
- Mean prospective resource 200 MMBO. High-quality 3D seismic late 2017.

5) Fully funded
- Oversubscribed placing in Jun 2018 provided final tranche of funding for all six wells above and management participated in placing.

- Country already produces 21,000 BOPD (2017) from fields close to Chinese border, including from Blocks XIX + XXI adjacent to Petro Matad’s Block XX. Very attractive fiscal terms).

Bang...no deal