Petro Matad Share Discussion Threads

[trulyscrumptious] 19/7/2019 08:32

Good to see Red Deer is still on track, that well could be a company maker on it's own. Mind you Heron will double the share price from here if it comes in as expected. Time will tell.

[pauliewonder] 19/7/2019 07:57

Going to be a very exciting and most likely transformational next 6 months starting today. Likely to be a commercial oil strike panda find of 25m would underpin the companies value at double levels figures at the very least in my view. A matter of time here, not chance.

[grannyboy] 19/7/2019 07:47

At last...They are OFF !!!

[alistair4444] 19/7/2019 07:30

Petro Matad Ltd
Spud of the Heron-1 Exploration Well
RNS Number : 0492G
Petro Matad Limited

19 July 2019

Petro Matad Limited


Spud of the Heron-1 Exploration Well


Petro Matad Limited ("Petro Matad" or "the Company"), the AIM quoted Mongolian oil explorer, is pleased to announce the spud today of the Heron-1 exploration well in the Tamsag Basin of Block XX. The well is an appraisal of the T19-46 oil field immediately to the north in Block XIX and is being drilled with the DQE International 40105 rig.

The Heron-1 well is targeting a prospect with 25MMbo of Mean Prospective Recoverable Resource and is planned to drill to a total depth of 3,050 metres. The well is expected to take up to 40 days to complete. In the event of a discovery, the Company will bring in a separate rig for testing. A call-off testing contract has been signed, which ensures testing operations, if warranted, can commence soon after discovery.

Upon completion of drilling operations at Heron-1 the rig will move c. 5 km to the Gazelle-1 location.

Mobilisation of the Company's second contracted rig to the Red Deer-1 location is ongoing with a targeted spud date before the end of July.


Further operational updates will be provided in due course.


Mike Buck, the CEO of Petro Matad said:


"We are delighted to announce the spudding of the Heron-1 exploration well in Block XX to commence our fully-funded 2019 drilling programme. The second half of the year has the potential to be a transformational period for Petro Matad and we look forward to updating you on our progress."


Further information please contact:


Petro Matad Limited


Mike Buck, CEO

[phone] / [phone]



___________________________________________________________________________________


Petro Matad Ltd
Change of Adviser
RNS Number : 0490G
Petro Matad Limited
19 July 2019

19 July 2019

Petro Matad Limited ("Petro Matad" or "the Company")

Change of Adviser

Petro Matad (AIM: MATD), the AIM-quoted Mongolian oil explorer, announces the appointment of Shore Capital and Corporate Limited as Nominated Adviser and Shore Capital Stockbrokers Limited as joint Broker, with immediate effect. This follows the acquisition of Stockdale Securities Limited by Shore Capital Market Limited.


Further information please contact:


Petro Matad Limited


Mike Buck, CEO

[phone] / [phone]


Shore Capital (Nominated Adviser and Broker)

Richard Johnson

Andy Crossley

David Coaten

[phone]


Stifel Nicolaus Europe Limited (Broker)


Callum Stewart

Nicholas Rhodes

Ashton Clanfield

[phone]


FTI Consulting (Communications Advisory Firm)

Sara Powell

Ben Brewerton

Genevieve Ryan

[phone]


About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds 100% working interest and the operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,367 square kilometres in the far eastern part of the country, and Blocks IV and V have an area of 29,062 square kilometres and 21,143 square kilometres, respectively, in the central western part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

[2solaris] 19/7/2019 07:16

There's the bait! We may see some photos on Twitter later.

[gaffer73] 18/7/2019 15:54

Low volume today. Everyone waiting with baited breath?

[pro_s2009] 17/7/2019 11:18

So they did.



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[myamay16] 17/7/2019 08:26

930,000 bought in one tranch on us market yesterday.

[pro_s2009] 16/7/2019 11:28

Quiet is good, the share price seems to have consolidated well, some have taken profits and others have bought in.

Spud must be imminent.

[grannyboy] 16/7/2019 11:18

Yes that's what's needed to get these going...

[pjackson2] 16/7/2019 11:16

Very quiet on here with spud imminent

[2solaris] 14/7/2019 12:55

Mike Buck has already said they have been in talks regarding unitisation with Petrochina but PC want to see oil first. He also said PM have the largest share of the Heron structure so we will obviously get a good deal.
Basically, there will be one operator (PC+PM)working together. This will give PM an almost instant income that will help towards other areas such as Velociraptor where costs are only about $3m a well. We may not even need a loan.

PS Petrochina need more oil to run their refinery at maximum, they know (or are 99% certain) there is oil on the Mongolian side so it would seem sensible to join forces and share the seismic with MATD. After all, their flow rates are in decline and they make money from the refinery as well as just the oil.

If MATD could have drilled either Velociraptor ($3m) or Fox ($7m), it would seem they will have cash to spare by going for Velociraptor. If they go for Heron 2 and unitisation Heron 2 will cost less than $2m, possibly nearer $1.5m and will become a producer with money flowing in very quickly.

[pro_s2009] 14/7/2019 12:09

It will be interesting, and certainly if Heron-1 strikes then we will get to know what the plans are with PetroChina and farm out very soon.

A strike at Heron-1 will make the company firm and secure (and the share price much higher), the real big upside wells are Red Deer-1 and anything on Block V.

Not long to wait, Heron-1 should spud this coming week and Red Deer-1 before the end of July.

[spangle93] 14/7/2019 08:04

Hi Pro_S

I was coming at it from a different angle, namely that the list of potential candidates who would consider farming in is pretty low, IMHO. Possibly just the one that you mentioned.

Also, if the early wells (at least) could produce into Petrochina's facilities, then production could generate MATD cash flow and reclaim of costs and minimise the capex pretty much to wells and small onsite facilities. Because it's to fund production, MATD would be able to secure loans rather than raise equity (or alternatively, raise equity at what would be a higher share price after discovery, restricting the degree of dilution).

Petrochina wouldn't need to farm in the get higher production efficiency, just agree terms to accept and separate the MATD oil.

And why 50%, rather than 75% or 25%?

However, your argument is indeed plausible (apart from the 2nd paragraph - standard terms would be that the farm-in partner would most likely pay half the sunk cost and half the cost going forward)

Plus in-house analysts don't make stuff up, and although this is Edison I'd have thought it would have been run by MATD first.

[pro_s2009] 14/7/2019 04:24

I also think its highly relative that Petro China gave MATD access to the 3D seismic.

Petro China production volumes are falling and their infrastructure is under utilised. To raise production and maximize efficiency it would be highly likely they are already in discussions to farm in in the event of oil strike at the Block XX wells.

[pro_s2009] 13/7/2019 03:28

Spangle, the assumption of a 50% farm out for Block XX is based on this delivers the best value.

The farm in partner pays for all the development wells to be drilled and also the necessary infrastructure and MATD just sits back and takes the money.

Far more value for MATD by farming out 50% (Petro China ?) than trying to raise money and do it themselves, which would be far more dilutive.

Mongolian production contracts are wonderful, you can claim back all explo costs, all development costs, all production costs and all transport/sales costs.......so the oil is very valuable and the farm in partner will pay a lot (or give a lot) to get 50%.

[tomford8] 12/7/2019 18:03

Fri 12th July

Heron

I think Heron will be Matd's defining moment. If you look at the 2019 presentation what is very encouraging is that Petro China gave Matd the 3d seismic to remap the block xx prospect. This already confirmed and enhanced Matds understanding that Heron is an extension of T19 46 field and seeing as Petro China has found oil multiple times I personally trust that their data is good. I also believe in the integrity of Mike Buck and think he will lead the company to success this year.

- posted by cosmiclightning on lse -

[pro_s2009] 12/7/2019 13:42

Directors purchased at 10p in the last fund raise.

[black bird] 12/7/2019 12:50

director buys absent BB

[spangle93] 12/7/2019 11:41

Thanks Pro_S and Mirabeau

Interesting reading - shows the value of Heron, but they assume much lower CoS (50%) than recent values on this BB, and also assume that it will be a 50% farm out in the case of success, which I would't have thought too likely for Block XX when they can use Block XIX infrastructure (the Jurassic Park assets are a different story).

[pro_s2009] 12/7/2019 10:55

Thanks.

Download link :



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