Member Info for VerbierDave

WildOne - Again the 70 day drill ESTIMATE is not a timeline it's an ESTIMATE meaning it could take less or it could take longer, you have to remember this is the first drill for MATD in Western Mongolia so they have a lot to learn about the geology on the way down, which will make things much easier and faster on drills after SL-1. By the sounds of things you haven't worked on an oil field drilling operation in the past because although yes there are targets things don't always go to plan when you are drilling 3000m + below the earths surface or working in a developing country where lorry drivers that are supposed to be delivering fuel for generators just don't turn up etc

WildOne - it never said near month end in the RNS, PSB

The Snow Leopard 1 exploration well, located in the Taats Basin of Block V, was spudded on 9 July 2018 and drilling operations are ongoing. The prospect has estimated prospective resource potential of 90 million barrels of oil and the Company will announce the well results once drilling and logging is complete, later this month.

Later this month can mean any day after the date of the RNS as it's "later in the month". The fact that the 70 day expected drilling time would effectively be on the 17th of Sep I would definitely call that 'later in the month' and as stated by MB they will update once drilling and logging is complete, this is something they have stated all along so no goal posts have moved at this stage. Will it take more time to do the logging than expected? who knows but it it does then good as it means they have found something of interest.

As was said yesterday, they don't want to give false hope as past CEO's have done and make mistakes because they haven't confirmed with testing or they would have people jumping all over them with bad press calling them all the names under the sun.

And no RNS today - as we all concluded yesterday nobody knows whats going on until we get the next RNS but the days to the full expected 70 day drilling of SL gets closer and the AGM in ten days time. It's going to be a very interesting ten days and I'm sure we will all have a close eye on whats going on as news could drop anytime.

Fingers crossed we all get the news we have been waiting for.

Well I'm holding even if SL is a duster as I think it will be a rapid bounce as soon as WH spuds, if I can get more in the case of a duster then all well and good because in my view SL is just the starter before the main course and I'm very hungry.

Mike - yeah it's all just thinking out loud and the possibilities. All any of us know for sure is what is written in the RNS's and thats it and we all have to make our own choices and investment strategy from them.

Hopefully we all make a healthy profit, only time will tell.

Victor - Thats fair enough as it might have been that they couldn't or couldn't get a suitable one for the job in hand, there could be any number of reasons but theres one thing for sure you are right that we should find out soon on SL and it will be interesting for all of us to see how this plays out but I would also put money on it that Sinopec are the new drilling partner for XX when that plays out.

Victor - Sorry I forgot what I was getting at there, the reason being is that as I said they may have found something and the drill contractor has whispered hey we're interested BUT MATD would be nuts to say "hey Market we may have something" before confirming it because of what happened before when the company said the same thing and shares went to £2 but hey presto it wasn't viable or water. As you said in earlier posts they need to learn from previous errors and I believe thats what MB is trying to do as a new CEO to MATD and not follow in the footsteps as his predecessors, because can you imagine how people would slate him if he spoke to early and it all ended up to be a duff find???

Victor - until they have done EWT they aren't going to know what exactly they have found in volume / quality or even if it's commercially viable and I'm not saying they have found anything, it was just airing ideas but if your drilling contractor who has one hell of a lot of spending power in the E&P market knows you may have found something worth looking at do you not think they might have had a quiet word in your ear??

I'm guessing there could be several things that have happened and it could be most people on here with their views aren't far off in one way or another. Having worked with the proposed drilling contractor in the Middle East I know what a nightmare they are to work with and how their admin is well lets say less desirable than you would want let alone the living conditions on their rig sites barff (the toilets OMG gas mask on). So do I think there could have been delays in contracts or them changing their mind because they needed the rig themselves or more than lightly the one they had available had issues more than lightly......... Do I think the reason that MB said they were going to put the drilling back out to tender is because he's realised what a mare they are to work with - yes more than lightly.

However, he may also have had another reason to call it a day on the negotiations and that might be because they had some promising shows worth logging and potentially EWT's on SL. A reason I believe there could be something in this is because it was left so late in the drilling schedule of SL to tell us that XX was a no go for 2019.

How about this for food for thought - MB realises DQ are a nightmare to work with however Sinopec are doing a great job with the SL drill and are also one of the Major 4 that are looking to farmin. Sinopec as the drilling operator on SL know there is a find of some sort and want a slice of the action and tell MB to cancel the proposed drilling contract on XX with DQ as they will bring into country another rig for them to use on XX as part of an overall farmin agreement.

I'm just batting ideas around but you could see how that could pan out.

Victor - If it's not whats in the RNS does that mean we have struck 40 billion barrels of light crude too as that wasn't in the RNS either.........

Victor - If it's not whats in the RNS does that mean we have struck 40 billion barrels of light crude too as that wasn't in the RNS either.........

And core hole oil shows

Pro - I'm with you there but I think all it will take is an oil find at SL before the media gets into a frenzy due to WH being in the top 20 drills to watch in 2018 as per the Wood Mackenzie report. I can also see a lot of big money coming in after SL even if it's a duster however if theres an oil find then it will go ballistic as those that were waiting for the big one at WH will be desperate to get a position with the SP as low as possible.

But obviously this is just my personal view.

Well, I think this should be the week we have been waiting for, initial results could come in for SL and then we get an idea of a spud date for the big one at WH. I'm thinking rig down - move 300km - rig up approximately 14 days so expecting spud some time around the first week of Oct.

I'm in both MATD and AAOG and to be honest this could have worked in my favour if we get and good news from SL then what a great time to move some profits over to AAOG for R1 & R2 appraisals. What caught my eye in the RNS was the fact they said that results will be announced once drilling and 'logging' have been completed. Could someone with more drill experience answer would they bother logging if it was a duster? or would they do logging anyway for data analysis?

I believe he said 20 days to R1/R2 and they will want to drill through that layer so you can add a few days for that and then they have to wait from Local National approval of any RNS wording so I wouldn't expect any RNS until at least the end of the week or possibly Monday. But thats just my opinion.

Near time looks very good so bought a few 32k

Well I just managed my last top up before news of another 52k, now I'm ready for an RNS and hopefully good news.

Captain - time and date of the next RNS was the question of this particular thread as a bit of fun, please don't try and hijack it with stuff thats been spoken about time and time again for the last few weeks as it's getting boring.

So lets just have a bit of light hearted fun whilst waiting for the next RNS......... So when do you think the next RNS will come (for the purpose of fun lets pretend we don't care whats in it but when it will land)?
I'm going for......
Date and time
Wed 12th After hours1645hrs