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Yes Mikey, perhaps I'm too conservative. Permits are the tell, only fools would sell with that knowledge. M.Buck is terrible with comms, but I'm sure he's not a liar. The man said we're drilling XX, that's all I need to hear. Punters, ignore his words at your peril!
Exactly Dusty, volume is key and the pros are in it to win it. Everyone talks about the sells, but a substantial buyer scooped alot of stock this morning. All exploration shares rise into results, Matad will be no different. Block XX tender imminent IMO.
2010, I'm sure rig inspection would be first order of business, considering last year's Sinopec situation. You have a point about Matad's comms, they release "market moving" info all at once vs. as it happens and that's the problem
Difference being Petro China has drilled 100's of wells and rigs were available per M.Buck interview. Peteo China also been operating in Mongolia for several years. So I find the comparison with Sinopec to be like apples and oranges.
Before Fundy posts from his mental institution about Block XX, everyone should remember Snow Leopard was due to spud September 15 last year before Sinopec rig troubles. Snow Leopard is a 70 day we'll, whereas two drills in XX is 30-40 days with mobilization, given how shallow they are. Continue to believe commercial negotiations are being finalized, foolish to sell on hysterical delay rumors by Fundy
I put odds at 100% for Block XX tender being finalized this week. As M.Buck said, the rig is available and they will drill their first Block XX well in September.
Get ready for simultaneous drills, anyone selling here mine as well just give their shares away.
Comms is a persistent and so far unimproved problem with Matad.
With that said, this stock has a daily range of 5% and freaking out at the bottom of that range will cost you dearly.
Can wake up any day and see the stock +25%
Actually I do have some insights on how agreements like this typically take shape, though admittedly not with the Chinese.
I think the next 5 or so business days is a perfectly reasonable time frame for an RNS.
In the meantime, perhaps Matad should look at some of their more accomplished peers where PR is concerned and make sure they get the next RNS right!
Also, I might add, most of the Nervous Nellie's here haven't the foggiest on how multi-million dollar agreements typically come together, let alone with the Chinese. It could very well be that commercial terms for the Block XX rig were agreed to weeks ago, with the contract going back and forth over legal specifics. Just keep that in mind as you panic out of your shares over an immaterial amount of time without and RNS
Right you are 2010!
There are offshore wildcats the size of Snow Leopard, which more or less cost the same to drill as Matad's market cap. Let alone Matad's 6 drills, let alone we have a 450M bbl target coming shortly in Wild Horse.
I would say current market cap is pricing in Snow Leopard as a duster, yet in reality most explorers would die to have such a quality onshore prospect in their portfolio! Let alone owning 100% of everything and fully funded!