Petro Matad Share Discussion Threads

[2solaris] 30/8/2019 12:50

I imagine the 35 days gives a bit of wriggle room in case of any delay. Otherwise, they are drilling 57m a day whereas Heron at the 40 days there represents 75m a day.

I am sure they know the initial results of RD by now, ie: oil or dust.

[cashandcard] 30/8/2019 12:41

grannyboy,


I agree with your post. If they are aware of both results (which they should do in the next week or so) one being bad and the other good, get the bad one out the way first. Other wise the good result will not even register the way this market works.

Not invested but a follower and watching to see IF they can discover oil. Plenty of opportunity to invest after an initial discovery - lets see what happens.


Cash

[alistair4444] 30/8/2019 12:34

reminder on Red Deer 1 - spudded 4 August 2019

We are at day 27 of a 35 day drilling operation

Petro Matad announces that the Red Deer-1 exploration well in the Asgat Sag Basin of Block XX in eastern Mongolia spudded on 4 August. The well is being drilled with the Daton Petroleum Engineering and Oilfield Service LLC rig, DXZ1.

The Red Deer-1 well is targeting a prospect with 48MMbo of Mean Prospective Recoverable Resource and is planned to be drilled to a total depth (TD) of 2,100 metres. The well is expected to take up to 35 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.

[pooler1] 30/8/2019 12:07

Hi grannyboy, depends how its all worded, if bad Red Deer news and good Heron news then I don't think the share price will get above 10p. That will be my take on it, Red Deer is the company making drill. Heron will just keep the company alive.
Both sets of news coming out together is the best method imo.

Edit: Mind you if bad Red Deer news then the share price will be hammered, that would give a good entry point for good news on Heron. Keep some money aside in case this happens I suggest.

[lovegod] 30/8/2019 11:47

Thanks Pro...keep busy...I remember you from 2010...with RKH....and we all did rather well with that one.

[grannyboy] 30/8/2019 11:42

Doubt if they hold back the Red Deer result, announcing both RD and Heron together would just cancel each other out...best to get RD out the way(hopefully an oil find)if a duster, then it gives Heron the chance to regain the share price drop and more...

[taxibabe] 30/8/2019 11:24

Cheaper re entry point

[2solaris] 30/8/2019 11:17

My thoughts pooler1. Is it just coincidence that a big seller is jumping ship at the time RD results may be known by the few in the know?

[pooler1] 30/8/2019 10:57

Wonder if they will hold any bad news (if it is) on red deer 1 until Heron is known and release rns with both included?

[pro_s2009] 30/8/2019 10:48

Hello.

I am just watching, busy doing some DIY. Nothing more to say really, results of the 2 wells will determine the share price. And so, we wait for the official results. The rest is just noise.

Does not appear to look good for Red Deer-1, however, looks can be deceiving. Just wait for news. I hold, relaxed and busy with my DIY.

I suggest everyone just wait for news......news is all that matters now.





lovegod 30 Aug '19 - 10:28 - 3090 of 3091

Pro?

[tomford8] 30/8/2019 10:26

taxiclown

I have filtered you and your constant drivel nonsense, twaddle, claptrap, balderdash, gibberish, rubbish, mumbo jumbo ha ha...good bye

[taxibabe] 30/8/2019 10:16

Very suspicious governor has not signed off on heron

[taxibabe] 30/8/2019 09:59

MATD is drilling the well and the Mongolians will seize it

[taxibabe] 30/8/2019 09:42

The market knows my friend it's a duster

[gaffer73] 30/8/2019 09:38

Bit of panic selling that's all.

[matunde24] 30/8/2019 09:26

Where is pro at? I think someone has info...

[2solaris] 30/8/2019 09:11

Much of this is because one loose end was not tied up. Heron should have come in first but they omitted to get a signature. Otherwise this would never have fallen and would probably have been twice this price. There is obviously a large seller offloading, perhaps they have wind of something we don't know, who knows, but it is not helping matters.
I still believe Heron will be a positive result and I will not sell but I wonder if the RD results aren't already known, it was only circ 2000m.

[under the radar] 30/8/2019 08:51

Still holding for the rns regardless of share price.Dont get emotional and remember why you invested in the first place.

It’s too early to be anywhere nearer target depth so its still all to play. I’m keeping the faith and will hopefully get rewarded for doing so.

Need balls of steel in this game and it seems a lot are not cut out for it (lols)

[catchingmice] 30/8/2019 08:46

More selling somebody has heard something i suspect

[under the radar] 29/8/2019 23:32

There will be a scramble for shares at open imo.