The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Haha duster! Luckily a figured out the basics from reading this board before investing back before Heron was even drilled :) first time I've seen placing mentioned so was eager to learn. Hopefully my next investment will be alot less stressful and more methodical, haha.
While I appreciate your concern Proffit, I'm going for the learning on the job approach, Matd has been a fascinating learning curve for me since August. Cheers for your concern. I'm a small fry fluttering 45k shares at 6.5p
Aha! I did try finding sonething, gracias
Can someone explain this term please? Thankyou in advance
So what happens now? Do they now calculate it's quantity and value and decide on pumping/sharing with China?
What we guessing? 10p?
Not just me then lol
Oh dear *head in hands*
I'm struggling understanding some parts of this RNS could someone explain the results of Gazelle? Cheers :)
I was under the impression "testing" means more than a flow test, but testing the casing for cracks, pressure testing ect before they even start seeing what oil comes out? Maybe I've been misunderstanding
Feeling relaxed too, I'm enjoying the ride even if I've been at a 50% loss for a month *nevermind emoji*
Half expected an RNS this morning but alas the wait continues :)
As long as that up takes it above 7p eventually I'll be happy to just get my money back lol
I've not gone quiet I'm just sitting back waiting for MATD to get some results so I can at least get my money back or maybe some profit... I'd be happy with breaking even at this point
Off on hols next week, hopefully something remotely interesting happens when I get back, itd help if that something caused a SP increase *optimistic emoji*
Just having a bit of fun in light of the not so great news, I know there's more opportunity coming :D
Anyone? *laughing but crying inside emoji*
End of September according to RNS
As my first go on trading today is going to be rough watching my shares become one big fat loss, but I need to try focus on the potential, I've sent a request to sell at a 10% loss minimum with intention of buying back low and try recoup the losses on the way back up... if it doesn't go through due to share price dropping, I'll just hold on regardless as it'd be daft to loose more than 10%... trying to stay calm and positive
Regulatory Story
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RNS Petro Matad Limited - MATD
Red Deer-1 well results and operational update
Released 07:00 17-Sep-2019
RNS Number : 5102M
Petro Matad Limited
17 September 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PETRO MATAD LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
17 September 2019
Petro Matad Limited
('Petro Matad' or the 'Company')
Red Deer-1 exploration well results and operational update
Petro Matad Limited, the AIM quoted Mongolian oil explorer, announces the drilling and logging results of the Red Deer-1 exploration well located in the south of Block XX and an operational update for Heron-1 and Gazelle-1 in the north of Block XX, eastern Mongolia.
Red Deer-1 has been drilled with Daton Petroleum Engineering and Oilfield Service LLC's Rig DXZ1 to a total depth of 2000 metres. No hydrocarbon bearing zones were identified during drilling and this has been confirmed with wireline logs. The well will therefore be plugged and abandoned.
The Lower Tsagaantsav primary reservoir target was encountered at 1632 metres, 30 metres shallower than the pre-drill prognosis, and comprised a thick interval of good quality sandstones interbedded with claystones. Drilling gas values remained low throughout with no increase and no significant oil shows observed upon entering the reservoir target. Petrophysical analysis of the wireline log data has confirmed the absence of hydrocarbons. Analysis of drilling gas data suggests the presence of potential source rocks shallower in the drilled section, but the absence of significant oil shows indicates that these source rocks are not fully mature for hydrocarbon generation in the vicinity of the Red Deer prospect.
Well abandonment operations are now beginning and upon completion the rig will move out and the well site will be restored to its pre-drill condition. The well was drilled on budget with total cost under $4 million.
In the northern part of Block XX, at Heron-1 the casing operation has been completed and the well has been temporarily suspended. Mobilisation of testing equipment will commence shortly and testing operations are forecast to begin in early October and to be completed during the month. DQE's Rig 40105 has been moved from Heron-1 to the Gazelle-1 well site where it is in process of being rigged up. Spud of Gazelle-1 is anticipated before the end of September.
Commencement of testing operations on Heron-1 and drilling operations at Gazelle-1 will be the subject of future announcements.
Mike Buck, the CEO of Petro Matad said:
"While the results of the Red Deer-1 well are disappointing, it was the first well to b