Petro Matad Share Discussion Threads

[2solaris] 03/9/2019 07:47

Can you post the pic please Pro.

[pro_s2009] 03/9/2019 07:46

Stop losses are not a good idea on oily stocks :)

In it to win it, happy to take a loss and happy to take the win.

[big brother8] 03/9/2019 07:40

hahahaha

Money is sinking fast.

Placing is coming


8m per drill and we have 4 .



BUST

BUST


NONCE JAMIE WILL HAVE KEEP WORKING AS A RENTBOY FOR NEXT 50 YEARS. :(

BORN A SPAZ WILL DIE A SPAZ

[avsome1968] 03/9/2019 07:40

There you go Pro heron 9th sept as I said, red dear mid September, no extra cash needed for other 2 drills, like how they got rig on standby by for testing , think they know they have oil at heron good news first. wish I didn't put stop loss on now but hey hoo still a few left roll on next week

[upgrade1] 03/9/2019 07:38

8.50p here we come

[under the radar] 03/9/2019 07:35

Onwards and UPWARDS....

Should see strong 💪 buying pressure from open as all the sheep 🐑 buy back in.

GLA

[pro_s2009] 03/9/2019 07:11

Both wells confirmed as still drilling towards TD.

Means both primary target zones not yet entered in either Heron or Red Deer.

[trulyscrumptious] 03/9/2019 07:10

This has certainly been a roller coaster and I have been trying to ignore all the ups and downs but this RNS seems very positive to me. I think this week will be the opposite of last week, except I am hoping we will go above 10p. GLA holders.

I have to agree about the logging and wonder if they have already found oil in the first target, why else is this taking so long? It all looks very promising.

[debz3] 03/9/2019 07:08

Big blue tick today.

[pro_s2009] 03/9/2019 07:06

Loads of cash on hand. Heron next week. Red Deer the week after.

Exciting 2 weeks ahead.




RNS Number : 0182L

Petro Matad Limited

03 September 2019

Petro Matad Limited

('Petro Matad' or the 'Company')

Interim results for the six months ended 30 June 2019

LONDON, 3 September 2019: Petro Matad Limited, the AIM quoted Mongolian oil explorer, announces its unaudited interim results for the six months ended 30 June 2019.

Financial Summary

The Group posted a loss of USD 4.41 million for the six-month period ended 30 June 2019, which compares to a loss of USD 6.65 million for the comparable period in 2018. The Company's cash balance at 30 June 2019 was USD 16.12 million (USD 3.79 million in cash and USD 12.33 million in Financial Assets), which compares to a cash balance of USD 15.55 million (USD 12.54 million in cash and USD 3.01 million in Financial Assets) on 30 June 2018.

Following the two successful placings in 2018, no new fund raises have been undertaken in 2019 as the Company's cash resources are sufficient to fully meet the costs of the planned 2019 drilling programme.

Operational Update

The Heron 1 exploration well in the Tamsag Basin of Block XX spudded with the DQE International 40105 rig on 19 July 2019. Land permits for Heron (and Gazelle) have been received and drilling operations continue towards a planned total depth (TD) of 3,050 metres. The well is an appraisal of the T19-46 oil field immediately to the north in Block XIX and is targeting a prospect with 25 MMbo of Mean Prospective Recoverable Resource. The Company expects to be in a position to announce the results of the drilling and logging of the well during the week commencing 9 September 2019.

The Gazelle 1 exploration well will follow Heron 1 after a six-kilometre rig move and will take approximately 35 days to drill and log. The planned TD is 2,500 metres and the Gazelle Prospect has an estimated Mean Prospective Recoverable Resource of 13 MMbo. Gazelle 1 is located updip of Petro China's T19-46-1 oil well on the western flank of the Tamsag Basin which is the primary source kitchen for the fields in Block XIX.

The Red Deer 1 exploration well in the Asgat Sag Basin of Block XX spudded with the Daton Petroleum Engineering and Oilfield Service LLC rig, DXZ1, on 4 August 2019. The well is targeting a prospect with 48 MMbo of Mean Prospective Recoverable Resource. Drilling operations continue towards the planned TD of 2,100 metres. Results from the drilling and logging of the well are expected to be completed by mid-September 2019.

In the event of a discovery in one or more of the 2019 exploration wells, 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.

The Company successfully obtained two-year PSC extensions for Blocks IV and V, as was announced on 26 June 2019.

Further operational updates will be provided in due course.

[big brother8] 03/9/2019 07:05

SUCK THEM SPAZ IN, BIG BRUTHA GONNA SPEND THEIR DISABILITY BENEFITS ON BOOOZE, DRUGS AND JAMIE HO MAMA. HEHEHEHE


COME TO BIG BRUTHA SLAUGHTERHOUSE WHERE ALL PIGS GET SLAUGHTERED.

MIND YOU JAMIE DO NOT POST EARLY THE VILE NONCE IS HANGING BY KINDGERTEN HANDING OUT SWEETS.

[2solaris] 03/9/2019 07:04

Well, they wouldn't log a duster at Red Deer, would they?

'Results from the drilling and logging of the well are expected to be completed by mid-September 2019.'

End of doubt for those questioning whether they had signatures on paper:

' Land permits for Heron (and Gazelle) have been received and drilling operations continue towards a planned total depth (TD) of 3,050 metres.'

[debz3] 03/9/2019 07:03

Great Heron results first.

[jamie414] 02/9/2019 23:16

Have a good time in Betfreds playing the machines tomorrow you degenerate. Toodle pip ;)

[jamie414] 02/9/2019 22:51

Anyone in this for more than a ‘punt’ is brave and fair play to them.
It’s a good punt and I hope you get your slimy fingers burnt with your short. If all 4 wells come to nothing? it wont even effect me AT ALL.
If they come in against you? sounds like you will be the one in the cardboard box you silly little man.

Here is hoping ;)

crack on sad sack.

[catchingmice] 02/9/2019 22:51

Are you all there Big Brother or are you smoking some heavy stuff ?