Member Info for VerbierDave

As we speak II
BID OFFER
9.26p 9.40p
DAY CHANGE
+0.745p (+8.64%)

The SP doesn't half get a motor on when it wants, just imagine whats going to happen if we do hit the black gold lol

Mr P,

I'm actually praying it doesn't go today as I want to buy more on Tuesday morning at a decent SP, then it can go to the moon lol

II as we speak
BID OFFER
9.50p 9.70p
DAY CHANGE
+1.025p (+11.88%)

Seems like it has run to 10p and bounced off it again, the 10p placing resistance is causing a bit of hurdle.

Hi all just thought I would throw out there that non of us know what is happening but I think you will only need to be patient for another couple of weeks before it all unfolds.

There could be any number of reasons that news on XX hasn't been released as yet and I aired one idea over the weekend that it could be that they got a Farm-in offer for XX whilst negotiating the rig contract and so it's taking longer because of a change in terms of the contract. Another train of thought could be along the lines of what has been spoken about today that they hit something whilst drilling SL and finalising the Rig contract for XX and just want to bide their time to do the testing on SL to figure out what it is and their next move (could explain the spike in volume we had two Fridays ago).

More than anything non of us know when the news is going to come of SL result or XX drill or a complete change of plans due to Farm-in so it's just a waiting game but it will come and soon. Patients is a virtue

Manro lol If I had it free I would have bought today but need to wait for funds to clear from other areas first grrr I'll have bought mine by this time next week buddy.

My personal view is at these prices it's a win win because I feel by the time we get to TD on WH it's going to be bare minimum 100% up from todays SP. Thats just my own view and everyone has to make their own choices of course.

I'll be buying another 50k next Tuesday, fingers crossed no news before than.

Its a waiting game for us all but we will all know soon enough, you never know we could all be wrong and other news completely different comes out to what any of us expect.

Victor - they may have got an offer of a Farm-in by the rig contractor or by Petro China that is the producer in the next block and therefore needed more time for the legal teams to finalise contracts.

Also obviously Farming out block XX and hopefully getting an income stream / funds from the Farm-in would put MATD in an even stronger financial position to fend off takeovers or to be strong armed by potential Farm-in partners on the other licences where the prize is heck of a lot bigger.

Victor - For information like that yes they would have to release information via an RNS to the market prior to the AGM i.e. the night before or the morning of and then the AGM can be used for the CEO to explain to the shareholders what they have been working on and future vision in more detail.

I've got a funny feeling that the AGM might be to announce a Farmin on block XX and this is the reason news has been delayed on the rig contract. On the conference call audio MB mentioned a potential farminee taking away data about areas in the south of the licence and when you look at the COS for the XX area it's great if you are one of the Chinese companies involved with either the drilling or production in the next block with capacity in your pipeline for further export.

It wouldn't surprise me if we see a Farmin this year and much larger drilling campaign on the XX licence next year because as MB mentioned in the audio also that they have permits in place for all five drill ready prospects for the XX license thus giving Petro MATAD a quick route to production and income to continue exploration in the other licences with the larger prizes.

These are just my thoughts and I might be a million miles away but would certainly explain why there has been a delay on the rig contract that was being finalised over a month ago.

Hallowed - That bit made me giggle too and made me wonder if they could be one of the Super Majors waiting in the wings to come back in when and if we de-risk......

Nice Post - I really enjoyed listening to that and found it really quite informative and as a reminder on everything I've been reading for many months.

Yeah that was an RNS they weren't expecting this morning Ouch!! this is the benefit of Matd, we have six bites of the cherry and they had one that just came up duff. Expect volume to go up today quite a lot I think.

Well, as I kind of guessed this morning it was a blue day, not as much as I hoped for as I thought it could get up to the 9.5p area but I got that bit wrong but blue non the less.

Tomorrow I'm going blue again and hope the 10p might get a look in again but if its similar volumes as today then I don't think we will get through it, however, if there are a lot of people getting in ready for the long weekend with similar volumes to last Friday then theres a real good chance to be in double digits for the weekend.

We have 9 trading days to go until we hit that magic 60 days (I'm saying magic because I will have managed to get in my last top up and I believe we will get news around the 60 day mark) since spud so I think next week could get choppy if we manage to get back around the 12-13p mark as some of those placing shares could get flipped and others could top slice prior to news although if it was me as the fund manager I would look to be top slicing prior to WH TD.

Good luck all and have a great bank holiday weekend.

2010PM - a lot better description than mine lol

ARahim - They will drill to a depth of 3350 meters this is a depth that they believe they will have drilled through all of the potential targets, and yes normally if they were to hit a payload they would drill through it so they can then find out the depth of the potential basin, this along with pressure testing and other calculations then helps them estimate how much they have found. This is in very simple terms because obviously there are a lot of other factors ie it may not be just oil they find but also other hydro carbons such as gas or it could be just water or nothing at all. It's just a waiting game now but not for much longer.

Great post 2010PM and I tend to agree with the time frame of 60 days too and with that in mind I believe that we should be breaking into the main target either over the weekend or very early next week and this is why I think people will be positioning themselves prior to the weekend just incase there are any leaks. Fingers crossed there's no mobile signal though and it's kept a tight hole so I can buy more. Had a 6k top up this morning but want at least another 50k next week. My personal belief is you can't go wrong at this sp because a lot of the big guns will be waiting for WH.

Anyway lets have a strong finish to the week, two blue days please.