RE: Approx. 800MMBO from just 3 targets14 May 2018 11:00
reading the RNS again this is brilliant news and might not be as delayed as people think as the visa process might be sorted a little sooner, it's just a worst case scenerio.
''Permitting for the Snow Leopard 1 well has been completed and the notice to mobilise the rig has been issued to Sinopec. The rig and consumable materials are already in Mongolia. Sinopec is now moving logging and cementing units from China and will move all equipment to site once the drill site construction has been completed. Unfortunately, there has been a delay in obtaining foreign worker visas for the Sinopec drilling team and this will likely move the spud of Snow Leopard 1 into July 2018. This will not, however, impact Petro Matad's ability to drill both Snow Leopard and Wild Horse during the 2018 drilling season based on our best estimates of well duration.''
-Delays were always on the cards to save on drilling costs(smart move)
-3D seismics has helped identify the targets better and re-jig the schedule with added resource bonus(smart move)
-site prep is underway and the rig will mobilise once complete which shouldn't take too long.
This is ready to pop real soon as rig mob will happen a lot sooner than July and could be a couple of weeks away putting to bed any fears of this drill not happening.