Petro Matad Share Discussion Threads

[pro_s2009] 30/5/2019 08:39

When and if they strike oil at Heron-1 or Red Dear-1 wells in August.

I am expecting both to be at TD mid to late August.

[markstevenkirby80] 30/5/2019 08:33

When's the boom

[myamay16] 29/5/2019 17:09

Chart looking good, share price has crossed 15,45,200 sma line.


free stock charts from uk.advfn.com

[gaffer73] 29/5/2019 11:24

Is that a pyramid in the background? I thought they were in Mongolia??

[pro_s2009] 28/5/2019 23:00

Petro Matad @Petro_Matad

Site construction is underway at #Heron1 and is expected to be completed within 10 days #MATD

[la forge] 28/5/2019 22:13

Mongolian explorer Petro Matad reports operations update
5/28/2019

LONDON -- Petro Matad Limited, the AIM-quoted Mongolian oil explorer, is pleased to provide an update on preparations for the 2019 drilling campaign in Block XX and PSC extension applications for Blocks IV and V.

Block XX

Well site construction has commenced on the Heron 1 location and is expected to be completed within 10 days. The site construction contractor will then move to the Gazelle 1 location and from there to Red Deer 1. All three sites are expected to be complete by the end of June. The work is being carried out by the same construction contractor that successfully prepared the sites for the Company’s 2018 drilling campaign.

A contractor has been chosen to drill two water supply wells, one for operations at Heron and Gazelle and one for Red Deer. The contractor will mobilize to Heron in early June.

Permitting, procurement activities and rig preparations are progressing well, ahead of the exploration drilling campaign. The DQE rig has completed its pre-move testing and certification and the required electrical upgrade is expected to be completed in the first week of June.

The company continues to target an early July spud date for the Heron well with the Red Deer well expected to spud in the second half of July. Drilling of the Gazelle well will immediately follow Heron, after a short rig move.

Blocks IV and V

The applications for entry into the final two-year term (to July 2021) of the exploration phases of Blocks IV and V, submitted in mid-April 2019, are under review by the regulator (MRPAM), with final clarification meetings expected shortly.

[trulyscrumptious] 28/5/2019 13:33

Good to see the photo, someone is good at keeping us in the picture (I am there in my astral body!). Topped up again first thing.
The weather must be warm out there as the man in the photo has his sleeves rolled up.

[2solaris] 28/5/2019 13:25

Any chance you could upload the photo from Twitter please Pro?

[2solaris] 28/5/2019 12:55

And if the third comes in we are looking at 50p... the fourth if it's block v, £1.

[pro_s2009] 28/5/2019 11:54

neo26.......if both wells come in, the share price will be 30p, not 5p.

[2solaris] 28/5/2019 10:05

From Malcy:

Petro Matad
An update from MATD this morning where all appears to be going pretty much according to plan. On Block XX well site construction has commenced at the Heron 1 location which should be completed in ten days after which it will do the same at Gazelle 1 and hopefully complete at Red Deer 1 at the end of June. A water well is being drilled for Heron and Gazelle and also for Red Deer and the company consider that all necessary work is on time and will be completed by an electrical upgrade on the DQE rig in the first week of June.

So to spud dates, Heron goes first in early July followed by Gazelle with the anticipated drilling at Red Deer expected to start in the second half of July. With the company having submitted extensions for Blocks IV and V in April to extend to July 2021 to the regulator, clarification meetings are expected shortly. It is not clear from the announcement whether this is the reason for only having firm plans to drill Block XX at the start of this season but I assume so. (Also the key area at present is the appraisal of Heron and potential for Gazelle.) I hope to catch up with Mike Buck at some stage if he returns to these shores before the drilling starts…

[neo26] 28/5/2019 09:57

Both wells already priced in.

[trulyscrumptious] 28/5/2019 07:59

Expected means just that, nothing in this world is a certainty until it actually happens, a meteor could land on Mongolia!

[pro_s2009] 28/5/2019 07:48

Exactly as per the update I put in the header last week. Which is great, as I said earlier, Heron-1 and Red Deer-1 will both be at target zone same time. Double whammy, or win and lose or double loss.........but at least 2 in play at the same time.


2019 Drilling :

1/ Heron-1 due to spud early to mid July 2019 - 30 to 40 days to drill - Block 20
2/ Gazelle-1 due to spud late August 2019 - 25 to 35 days to drill - Block 20
3/ Red Deer 1 due to spud mid to late July 2019 - 25 to 35 days to drill - Block 20

4th well - To Be Decided Either in Block 5 (Raptors) or another in Block 20

.

[jailbird] 28/5/2019 07:45

Nothing new there.. just an confirmation .. used 'expected ' alot considering July is not far.. should be certain on track I guess reassuring the market as the Co is known to disappoint I expect any spike rise to be short term though .. traders will be looking at this

[trulyscrumptious] 28/5/2019 07:30

Yes, great update from Mike Buck. I had a feeling we would hear something from him this week. This is an absolute steal and I am very hopeful of another Sea Lion type of discovery at Velociraptor later on this year, wasn't Tim Bushell present at that one as well? Bodes well.
I expect this will attract a lot of riff raff now so it could be tin hat time! But with a monster of a well to drill, who cares?

[basem1] 28/5/2019 07:29

Yep I'm in for a few more for sure

[2solaris] 28/5/2019 07:18

Excellent update, that should settle the nerves of anyone suffering from the jitters and encourage those on the fence to jump in while the share price is still so low. Good luck to all holders, the summer of fun is about to begin!

[pro_s2009] 26/5/2019 13:40

Thats just the start chap. Will be a million before mid July and drilling starts :)

[jailbird] 26/5/2019 08:32

Oh great Pro is back ready to ramp his 300k trade

[pro_s2009] 26/5/2019 03:18

:)


Its good that they have Heron and Red Dear going at the same time - Red Dear is a biggie for MATD but higher risk and Heron is still significant size for MATD but lower risk.

So, hopefully one will come in resulting in a big rise, if both come in, or Red Dear comes in alone, then it will be a massive rise.

[grannyboy] 25/5/2019 22:59

I'll give you a clue...It's under the video above and comes under the heading....

2019 Drilling: ....

[muddyfox0151] 25/5/2019 20:48

What's happening here when they starting the drills ?

[taxibabe] 23/5/2019 12:39

If that gives way its 4.20p