Member Info for Wigster77

"Matad is about to enter winter period."

Really? What planet would that be on then?

RNS just landed

What other options?

Abzzba: saying "if this is what they decide to do" is hardly indicative of a firm road map/plan is it? ((not a dig at you, rather the vagueness from the company)

Are there better CEOs out there, in terms of how passionate and dynamic they are about their company? Yes.

Are there CEOs out there who are more communicative with shareholders, out-lining future plans/contingencies etc and then sticking to them? Yes

However, I'm not sure that ousting MB would be the best option at this time. Yes, we are at all-time low SPs, but sometimes it's "better the devil you know". Also, if we are in the vinegar strokes of a company-making JV or even a TO, is now really the time to rock the boat? Finally, as has been mentioned, are there any high-calibre CEOs queuing up to take over a small oiler in the minefield of Mongolia?

As always, I may be wrong, but I think we should tread carefully. Maybe a show of shareholder discontent at the all-time low SP and lack of a concrete plan going forward may be enough to unblock the current news vacuum? Maybe the current news vacuum is a good thing, as Thorno attests to?

GLA & ATB

//"Reasonable Hat" off, as I don't want to upset TBT//

Yes Adw, fair point. So, to me then, that puts Gazelle top of the priority, followed by Gobi (assuming the results from the data analyses are as compelling as they say)...or we just carry on ticking over with H1 until a JV is sorted.

On another note, it's been nearly 5 weeks since the tax/customs issue was raised - hopefully a resolution to that isn't far off.

I've just run a question through Grok - hopefully this won't get me thrown into the "sly neg bin" again...

Q: With reference to recent Petro Matad RNS's, specifically potentially turning Heron 2 from a production well into an "injection well" to assist raising production of Heron 1, can you please give an overview of the works involved in this. Also, give estimated timelines and costs (worst and best-case scenarios) and risks etc. Would you say this is a more viable solution than trying to uplift Heron 2's production?

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Huge answer given, but main points:

Best-Case Scenario (6–12 months):

Feasibility Study and Planning: 1–2 months. Assumes existing data from Heron-2’s drilling and testing (completed in October 2024) can be quickly analyzed to confirm injection viability.

Well Modification and Equipment Installation: 2–4 months. Assumes minimal well integrity issues and readily available equipment (e.g., pumps and tubing) in Mongolia or nearby regions.

Regulatory Approvals: 1–2 months. Petro Matad has a history of working with MRPAM, and recent government support for Block XX operations suggests streamlined approvals.

Testing and Commissioning: 2–4 months. Includes initial injection tests and monitoring of Heron-1’s response.

Total: 6–12 months, assuming no major technical or logistical hurdles and leveraging existing infrastructure (e.g., PetroChina’s Block XIX facilities for water sourcing or disposal).

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Best-Case Scenario ($2–5 million):

Feasibility Study: $0.2–0.5 million. Utilizes existing data and in-house expertise.

Well Modification: $0.5–1 million. Minimal changes to Heron-2’s completion, with standard injection tubing and wellhead upgrades.

Surface Facilities: $1–2 million. Assumes access to existing water sources (e.g., produced water from Heron-1) and basic injection pumps shared with Heron-1 infrastructure.

Testing and Commissioning: $0.3–0.5 million. Short-term testing with existing monitoring equipment.

Regulatory and Miscellaneous: $0.2–0.5 million. Streamlined permitting with MRPAM support.

Assumptions: Leverages PetroChina’s Block XIX facilities for water treatment or disposal, and no major well integrity issues.

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Abzzba - do those costs seem fair? If so, that would add more weight towards trying one of the other wells.

100% agree. I remember looking into what was involved in turning H2 into an injector well and it didn't look like a 5 minute job. I appreciate that Gazelle is also not a "sure thing" and Gobi arguably even less so, but surely in the current circumstances you'd still concentrate on these, or (as Master says) just drill another hole closer to H1?

It's easily provable that I'm not (I've done it before), but I'll leave you to your fantasy!! Don't forget, I'm also "Professional", "Jimithebrush" and of course "Adw198". I'm a busy boy, that's for sure. Just think of all that money I'm raking in from my masters!!! Oh, there's another one...I'm Master82 too!!

Sweet to see that you're good mates with Tenbag now I33, especially after these words from him last year:

"Investor 33 called out for his Nasdaq Ponzi scheme and fake guru who uses fake screen shots to dupe naive investors."

:-)

Investor33 once again being either tragically thick or deliberately misleading (likely both come to think of it):

"Adw has no idea about how the share price is pumped prior to a raise, as he's not bright enough to notice patterns of price action, except to obsess about it on any given day, which is useless really.

If he did realise, then he would know that his much longed for raise will actually inflate the share price for a while. In his world a raise would happen from a low, like we are more or less at now. So therefore it would have to be sub 1p. That's how his mind works - same for Doc, and all the others who have never bothered to study patterns of price action. Check out every raise going back years - the share price was always pumped in the weeks leading to the raise, including the one last year, when the share price hit its peak in early June."

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So, the rise in Early June was nothing to do with the RNS on 29th May?:

Key Company Updates

· The Company has received the remaining approvals necessary from Matad District to allow the 2024 operational programme to commence. Land use certificates have been issued for the three areas of operation selected by the Company.

· Discussions on timing of mobilisation to re-enter and complete the Heron 1 well for production are ongoing with service provider DQE.

· Petro Matad continues to push the central government to complete the certification process and confirm Block XX as State Special Purpose land to streamline the permitting process in future years. MRPAM has written to the Provincial authorities telling them to revise the coordinates of the area which overlaps with Petro Matad's Exploitation Licence.

· The Company's renewable energy joint venture is progressing its two high-graded projects and has a number of new opportunities including a potential export to China initiative.

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Also, as has been pointed out the SP then drifted from a high of c5p, down to c3.5p prior to the raise announcement.

To confirm, I'm not saying that I believe there will be a raise, just pointing out the utter crap Investor33 comes out with on a daily basis, fueled by his obsession with charts that he clearly can't read.

"And work out what the mcap ( briefly ) was in early 2017 when the MMs decided to spike it from 2.5p all the way up to 38p...."

Roughly £125M.

Why am I a scumbag Dozzawba? Looking at the tone of your post, I think people can easily see that you're definitely one. A shame, as a year or so ago you used to actually be quite a balanced and useful poster on here.

Lovely!!

If you think someone's an attention-seeking troll and you really want to teach them a lesson, make sure that after you filter them you then refer to them in every single post you make afterwards. They will hate that!!

RPT/WOS, how would you define "Major Re-rates"? 100%, 200%...?

Also, your point of "If we take a planned accelerated field development on a verybmodest 75bbl daily production over 30 Wells at a 60:40 split, resulting in a net payback of $20M annually..." refers to the bits that happen in the months/years after the periods of SP movement I described, so yes I would hope the SP would continue to rise much more as things progress.

Of course, you knew this, but couldn't resist having a dig..

Sorry, final bit should read:

Final sign off, no idea - possibly an initial 30% rise again (obviously from a lot higher than today), then similar daily rises until it naturally peters out and finds the "correct" level.

My thoughts on SP on JV/Farm In:

Further substantial JV news (i.e. partner chosen, MOUs signed etc) could see an initial 30% or more lift to the SP on the day of the RNS maybe.

FOMO/people taking positions in anticipation for the next RNS(s) with facts/figures and final sign-off should give us steady 5% rises per day on average.

Final sign off, no idea, initial 30% rise again (obviously from a lot higher than today), then similar daily rises until it naturally peters out and finds the "correct" level.

What you on about Dozza?

Abzzba - are you happy and "Tickled Pink" that the SP is a quarter of your predicted "5p by June" and the numerous things that you said over and over and over again were "the most likely outcome" actually weren't?

Maybe a lesson to listen to those who are a bit more balanced. (Not the likes of Stock Maiden and Aquisace, who are indeed mental-case agenda-driven idiots).