Petro Matad Share Discussion Threads

[taxibabe] 13/8/2019 09:06

the chinese were never going to let MATD drill into their own pet system. They own mongolia

[taxibabe] 13/8/2019 08:58

got out at 6.40p thanks

[taxibabe] 13/8/2019 08:45

AIM stocks bury their bad NUwS. Look at Nuog. Mike will say little at this stage but the market says everything. MATD has lost credibility now.

[tomford8] 13/8/2019 08:41

Come on guys if you are upset about situation phone Mike number below is his direct office telephone number including Mongolian dialing code

Mike Buck, CEO

[phone] / [phone]

[2solaris] 13/8/2019 08:34

I have had a response to questions in the past but I doubt anyone will get a response at the moment for obvious reasons.
The share price is being trashed, even though it is not the direct fault of PM, surely they must have been aware of the local government requirements? They couldn't drill Heron last year for some reason we don't really know and it was started very late this year. They have had ample time to have everything in place and yet this fiasco happens.
All we can do is hope Red Deer produces something, bad news on top of this would be crippling.
I feel that if there is hope of retrieving Heron, MB should tell us and not keep us in the dark as he appears to have done when this disaster was first known.

[taxibabe] 13/8/2019 08:29

None of what you say PRO changes the fact that from being a well programme with 4 more outstanding wells its turned into a one well programme; something not right there.

[tomford8] 13/8/2019 08:28

Good idea there abbot give Mike a phone its +8 hours in Mongolian office give Mike a call

Petro Matad Limited

Mike Buck, CEO

[phone] / [phone]

[pro_s2009] 13/8/2019 01:50

Share price movements in the short term are pure emotion.

That does not detract from the overriding situation, which is MATD are drilling Red Deer-1 and the result of this well is now just weeks away.

Upside is over 30p a share.

Thats the reality......... if they strike then its multibagging time. If its a duster then its back to below 2p levels.

Holders of MATD stock are very excited.......news is not far away and IF its good news, then its clear blue sky.


So it does not matter how much you want to slag the company off, to deramp, it or whatever - the drillbit is turning and only that will answer whether MATD goes to 30p or 2p.

Red Deer-1 results around 2 weeks away, potential indicators just a week away.

[ken chung] 13/8/2019 00:15

Holdup costing them over £12k a day and no end in sight. Meanwhile the winter is drawing closer and the drilling window is narrowing.Doesn't seem very professional if you ask me but they can always tap the market for more dilutive cash and re-book the rig for next year.Lemmings and mushrooms only

[taxibabe] 12/8/2019 23:10

Pro get a grip man its below 6p and its heading down all this pumping achieves zero

[pro_s2009] 12/8/2019 23:02

Red Deer-1 is also a basin opening play, with very significant follow on leads which would all be derisked considerably.

The leads around Red Deer-1 are worth well over 150p a share to MATD.......so if Red Deer-1 comes in then you not only get that uplift (circa 30p a share), but then the uplift from the potential of the other leads.

[pro_s2009] 12/8/2019 22:56

Officially its going to take up to 35 days to drill and log.

4th August plus 35 days..... Would point to say 6th Sept.

However, the Chinese drilling rig company say 20 to 25 days.

So for them they are saying by 24th to 29th August will be drilled and logged.

Completion and logging will take a week.


This is why the expectation is that they will be drilling through target zones from the 19th August....and will be able to see oil in the mud returns.........so any good spikes from the 19th August onwards may mean oil has been struck.

[matunde24] 12/8/2019 22:53

When is red deer going to complete drilling and hope for oil? By 19th?

[pro_s2009] 12/8/2019 22:24

End of the day MATD have done nothing wrong. They have complied with everything. It is an oversight between Central Government and Provincial Council.

So MATD are blameless.

Heron-1 is delayed - thats it, get over it. Its not cancelled and it will be completed drilling whenever the issue is sorted.

Red Deer-1 is ongoing - massive upside if that strikes oil.

If Heron-1 is stopped pending later resolution that rig can either go off to drill Block V one of the Raptor or be moved to Red Deer-1 for an appraisal or drill one of the other prospects in Block XX derisked by Red-Deer success.

All to play for........and it gets exciting from next week onwards.

[matunde24] 12/8/2019 20:18

I havnt bought yet but thinking of buying at 5.8p tomorrow.... Only way is up unless it goes even more bust before the 19th

[2solaris] 12/8/2019 19:58

Oh dear, did you miss out on the cheap buying opportunity?
Anyone know how many metres a day they can drill Red Deer?

[2solaris] 12/8/2019 15:39

Whatever, MB needs to give shareholders some reassurance that he hasn't run off to Mongolia with all their money - oh, he's already there!

[alistair4444] 12/8/2019 15:38

I am pretty sure if Heron was slightly further away from Chinese drilling area there would have been no delay However Red Deer larger target so still good prospects of a positive result. Maybe even fit in the large Velocirptor Prospect with 201MMbo potential who knows

[pro_s2009] 12/8/2019 13:25

Mike Buck said it during an interview......he said the Chinese said they can drill it very quickly, but MATD were going to be using a conservative estimate of total drilling time.