Petro Matad Share Discussion Threads

[luckyvince] 22/7/2019 20:23

many may have jumped into JOG for a quick trade. I may have done if i were not so busy today.

[2solaris] 22/7/2019 17:05

Yes, it has been a really poor start to the week, it seems lots are prepared to sell out for a modest profit rather than waiting for the reason all this is going ahead. Last year was a fiasco because they didn't drill Heron which was the backstop in case of dusters. Now they are at last drilling Heron, people run to press the sell button. Well, I'm staying put.

[gaffer73] 22/7/2019 16:39

Disappointed with the SP, it appears people are wary given the last result.

[2solaris] 22/7/2019 14:12

Not many on this board but I agree there are too many in and out traders these days who say one thing and do another.

[pro_s2009] 22/7/2019 14:12

Shorters taking short term positions.... Expect a recovery in the share price in the weeks ahead as they close

[taxibabe] 22/7/2019 11:12

looks like this has peaked

[pro_s2009] 22/7/2019 07:57

Hope nobody misses the massive JOG news today :)

[pro_s2009] 21/7/2019 14:56

MATD mentioned:



.

[2solaris] 21/7/2019 07:58

I agree Pro, it could happen quicker than we think and catch a few napping. DQE have done a few very similar drills so know what to expect, perhaps MATD are just being cautious giving the extra time in case of any contingency.

[pro_s2009] 21/7/2019 02:58

Just for a bit of fun and note that any mechanical failure at all will totally delay everything....................


Based on other DQE drilling a rough schedule is averaging 130 meters per day (with no mechanical issues) over a well to TD.

Heron-1 is 3050 meters and so divided by 130m/d would give 24 days to get to TD, prior to initial wireline logging and then initial RNS at say day 30.

Red Deer-1 is 2106 meters and so divided by 130m/d would give 16 days to get to TD, prior to initial wireline logging and then initial RNS at say day 22.


Entering of the Primary Target at Heron-1 should be around 2800m onwards which would equate to day 22 of the drilling. Also secondary targets earlier.

Entering of the Primary Target at Red Deer-1 should be around 1650m onwards which would equate to day 13 of the drilling. Also secondary targets earlier.


Heron-1 spud was 19th July.

Volume spike time - anytime after 10th August. Results RNS after wireline anytime from 19th August.


Red Deer-1 spud ETD 29th July.

Volume spike time - anytime after 11th August. Results RNS after wireline anytime from 19th August.


So, from Monday 12th of August, if we get crazy volume spikes we will not know if its Heron or Red Deer or both.

Enjoy the ride.

[pro_s2009] 20/7/2019 09:30

2solaris.

I expect well results in 30 to 35 days for Heron-1

So anytime from August 19th onwards


I expect around 20 to 25 days for Red Deer-1.

So anytime from August 19th onwards.


Literally, provided they spud Red Deer-1 by end July - both wells can have the results at the same time.......going to be really exciting.

18p of upside from Heron-1 and 32p of upside from Red Deer-1, all on the table from late mid August onwards (and thats ignoring the de risking of other prospects on the licenses from any success)

No better stock that MATD for some serious % rise potential in the coming weeks.

.

[2solaris] 20/7/2019 08:36

Looking at page 10 of the presentation it would appear that the target is almost at TD so maybe we are unlikely to get any volume spikes until then. If the entire operation could take 40 days, anyone care to guess when that will be? The drill company said they could drill these in 3 weeks but the company reckon much longer, about 19 days longer.

[myamay16] 19/7/2019 22:25

Matd us stock PRTDF had 8 buys within 30 seconds totalling 131k in shares, then share price up by 12.5%.

[ducatiman] 19/7/2019 18:29

Now we await volume spikes

[2solaris] 19/7/2019 15:56

I am amazed there are so many sells now that Heron 1 has at last spudded. The share price has struggled to regain anywhere near where it was this time last year before the fundraise and it looks as though many are jumping ship in case Heron is a duster which is a unlikely in my opinion.
I presume some of the buys must be sells to drag it this low.

[pro_s2009] 19/7/2019 14:06

Petro Matad

Petro Matad has announced that it has spudded the Heron-1 exploration well which is targeting 25 MMbo of mean prospective recoverable resource and we should know the answer in around 40 days. Should testing be needed the company has a separate rig ready and a contract for that has been signed.
If you read the write-up of my recent meeting with MATD CEO Mike Buck you may be slightly confused by the description of the well as an ‘exploration well’ and even more so as in the first paragraph of the RNS it is described as both an exploration and appraisal well. Indeed the important line is as follows ‘The well is an appraisal of the T19-46 oil field immediately to the north in Block XIX’ which I read as appraisal but apparently the answer is that when you move across the block boundary it immediately becomes an exploration well, I hope you got that…Wells don’t come much more crucial than this so an important time for shareholders.


.

[pro_s2009] 19/7/2019 11:07

Looks like a few shorters tried to sell to invoke a spud fall in the share price.

Some sold, others appear to be buying...... all to be expected really.

Got to watch for volume spikes now around 19th August onwards, the moment they see some oil in the drilling mud (if there is) then expect a large volume day.

[tomford8] 19/7/2019 08:47

July 2019
Mike Buck CEO interview explains in detail up and coming drills for Petro-Matad

[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.