Petro Matad Share Discussion Threads

[pro_s2009] 20/9/2018 13:57

I think 5km per hour average is fair. Going to be some breakdowns, punctures, stuck vehicles..........so 7 days fair I feel.

[s1zematters] 20/9/2018 13:55

j_v_e_r_n_e_y if I wanted to I could get a blue name in 'the group' to copy and paste every single post he deletes from his thread back on there.
I could destroy his little ramp fest thread like we have done many others like him,but this time I thought I would let him hang himself as he has already, the locals are already turning on him./

[pro_s2009] 20/9/2018 13:53

You would expect them to make the move to Wild Horse-1 location in about 7 days........

12 hours drive per day and average 5 km per hour.

So demob - pack - drive - mob..........estimate 2.5 weeks.

Spud should be early October with results of drilling end of October. That is the plan as before......results of WH-1 late October to early November. No deviation from plan.

[s1zematters] 20/9/2018 13:51

j_v_e_r_n_e_y - not only does he read the thread he plagiarises my posts regarding drilling and oil companies proceedings.
Anyone who trusts this snake should look at AAOG , he spent months ramping it just like this and then he flipped negative presumably when it fell 60% and he did his balls in again!

[on target] 20/9/2018 13:49

What is the speed limit in Mongolia?

[gunsofmarscapone] 20/9/2018 13:23

Yet, they did not explain to the market exactly what moving all that kit involves, but rather inferred it in just one word prefixed to the actual distance.

V=D/T

T=D/V etc etc

[pro_s2009] 20/9/2018 12:37

GoM, nobody can predict the weather. The forecast appears good this year, no real cold weather until late November, so drilling season should end at the end of Nov.

However, yes, they have to move 150 trucks a distance of 450km. On the move to SL-1 location they got bogged down a few times. There will always be a risk that WH-1 will not spud this year..........anything can happen......look at AAOG, JOG etc... all delays out of their hands. I think the wording is suitable, they plan to spud, if all goes well they will spud........but if something untoward happens then delays will happen.

Thats quite fair, I don't read it as negative - purely they are being honest.

[gunsofmarscapone] 20/9/2018 12:28

Pro, you replied only nine minutes after my post. There is an inference to be drawn from the rns, although I have been 100% correct so far regarding Matd I am not a ‘basher’ and am cautious about publishing anything on any subject.

[pro_s2009] 20/9/2018 12:16

bmcb5 Fox-1 is a different basin.

Not related to Snow Leopard-1 at all.

All three wells in Blocks IV and V are unrelated. Different basins.


Fox-1 has bright spot on 3D and also live oil in a nearby coring well, its the most low risk of the three Block IV and V wells. Very likely to strike imo.

Snow Leopard-1 was a fill in well if you like, the original plan was for Falcon-1 in Block V and Wild Horse-1 in Block IV.

However the 3D which highlighted how good Fox-1 is, also showed Falcon-1 to be much smaller and so it was decided to drop Falcon-1. The only drill ready target left on Block V was Snow Leopard-1 and so this is why they drilled Snow Leopard-1 to comply with the spend requirement on the license block. They had under spent on Block V, now with SL-1 the spend is over the government requirement and so the license is in full compliance. So sadly SL-1 fulfills the spend requirement but allows Fox-1 to be drilled in Block V next year............and Fox-1 is the highly prospective target with live oil in coring and bright spot on 3D.

Biggest hope for me is around Fox-1.........thats the Hail Mary savior for big upside should WH-1 fail.

So yes, thats where we are, SL-1 on Block V was a quickly moved to the front given the new 3D showing Falcon-1 on Block V was not ideal and Fox-1 was new and unapproved (no drill permit). A well had to be drilled on Block V to comply with the license terms, and so it was SL-1.

However.......... Wild Horse-1 was always planned and its the well that Shell want to see drilled. And so it is, its up next........not long to wait.

[bmcb5] 20/9/2018 12:06

So that makes the drill of Fox-1 on block V more risky, imo. I've not looked at the acreage in detail, but how closely connected are the other wells, to block V?

[cashandcard] 20/9/2018 11:55

GoM


'No sands were encountered at the shallower of the two primary targets of the well although drilling gases (C(1) to C(5) ) and an oil sheen in the drilling mud were observed across the interval. The gases are believed to be indicative of an active petroleum system in the basin and the oil observed in the mud is suspected to have entered the well from one of the prospect bounding faults which may be acting as a conduit for migrating oil'

Alarming! No sands encountered in upper two reservoirs targets - what does this mean for WH which is a shallow target?

Also, the faulting could be a huge issue.


Cash

[pro_s2009] 20/9/2018 11:54

Gom.

Whats the negatives you are seeing..... are you taking the stating that they have done all the groundwork for Wild Horse-1 to mean that actually, they are not going to spud Wild Horse-1 because they said all the groundwork is done, therefore it means they are drawing attention to the groundwork being done as the reason why its not MATD's fault if the Wild Horse-1 spud does not happen and so therefore due to this the spud is not going to happen this year, because they said they have done all the groundwork and will RNS next when it spuds.............so its not going happen ?

[bmcb5] 20/9/2018 11:45

GoM.

I ALWAYS like to hear bearish views on stocks I own. Hiding away from potential negatives, does nothing to reduce the probability of them occurring. It just changes the probability of being exposed to the impact.

I, for one, appreciate your negative viewpoint. Keep it up!

[gunsofmarscapone] 20/9/2018 11:42

Hello Pro.

I have been totally consistent in my negative viewpoint of this company’s operations particularly relating to severe delays, finally confirmed by the company in the rns of May 14.

Now, before you drag any new o and g investors into this party I would strongly suggest that you read and re-read today’r rns until you can spot the glaring potential negatives (apart from water/ dead oil etc etc) and then publish those negatives here on this site!

I am not going to do syllogistic reasoning for free tbh. Atb GoM

[grannyboy] 20/9/2018 11:31

bmcb5 951....exactly how I saw my investment in here, and will continue to hold the same amount as the original stake, and IF WH comes will then evaluate the sitution , but happy to wait.

And that's how I looked at it Pro (952).

[cashandcard] 20/9/2018 11:30

Taken a small punt here. Intend to get out prior to WH spud or thereabouts, I expect it to fail. Ride the momentum as they say. 2Months of drilling window left now before winter ends this drilling season.


Cash

[pro_s2009] 20/9/2018 11:29

She holds powerful positions in many companies........that can only be good for MATD in dealing with the government and regulations and approvals.

Petrovis are the major shareholder and so, if they nominate her, they must be sure she will help the company moving forward.

[pro_s2009] 20/9/2018 11:11

Yep bmcb5, ultimately there are 5 drills left, all are fully funded. So same for me, sit back and relax and wait for the next drill now.

Nice little averaging down done today buying........means my total holding in the run up to Wild Horse-1 results are now at 7p. If the price hangs around these levels for a couple more weeks I will be tempted to drive that average down to 6.5p with some more buying.

Wild Horse-1 is potentially 480 MMBO.......... and thats 100% owned. Its massive.

320p a share upside if they strike oil based on the 480MMBO estimate. Half of that on an oil strike, so looking for a good 160p if WH-1 strikes oil.