Petro Matad Share Discussion Threads

[spangle93] 09/9/2019 07:58

Pro - agreed ref better properties, and without a CPR, we don't know what the key drivers of volume uncertainty are.

But, given the relatively flat structure, if there is an underlying water leg the extra volumes from being 5m higher could be very large

[ken chung] 09/9/2019 07:52

There seems to be some some doubt reading between the lines. No reference to oil flowing. The RNS is more about what was omitted.

[pro_s2009] 09/9/2019 07:50

No....we will know soon what the market thinks BEFORE flow testing.

Flow testing of Heron is the next important step....once that is done and good flow test results then the share price will take off upwards. Thats the real thing we await now.

Just a case of being patient now, wait for flow test when the testing rig gets on site........accumulate more MATD shares on any weakness or dips.

[avsome1968] 09/9/2019 07:48

well you will all know soon what Mr market thinks .

[pro_s2009] 09/9/2019 07:45

The excitement builds.......... Red Deer-1 next week

Can MATD get 2 oil strikes in a row ? Or is that too much to ask for.....

For info in case MATD strike oil :

Heron-1 smallest size 11 MMBO recoverable - 8p a share
Heron-1 Pmean size 25 MMBO recoverable - 18p a share
Heron-1 Best case size 42 MMBO recoverable - 30p a share


Red Deer-1 smallest size 20 MMBO recoverable - 15p a share
Red Deer-1 Pmean size 43 MMBO recoverable - 32p a share
Red Deer-1 Best case size 82 MMBO recoverable - 61p a share

Gazelle-1 smallest size 6 MMBO recoverable - 4p a share
Gazelle-1 Pmean size 12 MMBO recoverable - 8p a share
Gazelle-1 Best case size 22 MMBO recoverable - 14p a share

[ducatiman] 09/9/2019 07:45

8.5p offer, wonder if I can buy some more at open at that price?

[pro_s2009] 09/9/2019 07:42

Yes......would expect PetroChina to farm in to develop the whole Heron structure.

What we need to know now is flow test results.........then........we get size estimates........ I am going for a good 40 MMBO recoverable now as the end result for Heron.

[steephill cove] 09/9/2019 07:42

And more money in the bank to get after Velociraptor +

[steephill cove] 09/9/2019 07:40

Expect a farm in after testing...

[steephill cove] 09/9/2019 07:40

Definitely towards the upper end of pre drill expectations...

[steephill cove] 09/9/2019 07:39

Well done all holders of which I am one. Looking perky already this morning for a decent blue opening & day!

[sbb1x] 09/9/2019 07:38

Well done chaps. Finally

[pro_s2009] 09/9/2019 07:35

avsome..... Pre Drill estimates were 25 MMBO recoverable.

Everything in the RNS says everything was as expected - BUT

More reservoir - better reservoir.

That means likely pushing the Pmean figure of 25 MMBO upwards to 40 MMBO recoverable.


Mike clearly states everything is as per the PetroChina producing wells - so - perfect. Those trying to say its not a good result are those currently who hold no MATD stock or who sold out.........

LOL :)

[2solaris] 09/9/2019 07:34

Read again avsome1968. Your figure is for the 'better porosity and permeability characteristics' compared to other producing wells.

[2solaris] 09/9/2019 07:31

'77 metre gross interval of potential oil reservoir.'

'very similar to the productive reservoirs found in oil wells immediately to the north in Block XIX.'

'Within this interval the logs also define three zones with a total gross thickness of 22 metres (14 metres net) exhibiting better porosity and permeability characteristics than is generally seen within the Lower Tsagaantsav at this depth including in the nearby wells in the T19-46 oil field in Block XIX.'

This certainly looks to be at the higher end of the scale. Thank goodness MB is not one of those embarrassing CEO's who embelishes every paragraph with a 'delighted' or 'wonderful', he just gives the facts. And the facts here are good, better than expected. Now for the testing.

[avsome1968] 09/9/2019 07:30

Pro 14m net pay thickness ? yes its oil but not a lot what's others think.

[pro_s2009] 09/9/2019 07:29

Yes Spangle it does. But better reservoir characteristics will deliver more recoverable oil....and also potentially make development require less wells.

All is looking very good.

If Heron delivers topside estimates........thats over 40 MMBO recoverable, its a massive find for small cap oiler given its onshore, simple and cheap to get online and 100% owned allowing easy farm out.

[ducatiman] 09/9/2019 07:29

Guesses as to opening SP?

[under the radar] 09/9/2019 07:28

HAPPY DAYS 😜👍

m.youtube.com/watch?v=6W6y7YhHdVE&feature=youtu.be

[spangle93] 09/9/2019 07:26

Pro - 5m Higher than expected pushes the volume to the high side more so than better properties :-)

Well done all holders

Now to go beyond 2010 and actually get it to flow!!

[gaffer73] 09/9/2019 07:26

Well we've just moved from 'potential'!

[pro_s2009] 09/9/2019 07:25

And to put that into perspective...... If Heron delivers upside......42 MMBO recoverable.........thats 100% owned......and so MATD would have more oil than ECO currently have with their small share of Jethro........

Whats the ECO market cap ?

Hopefully both ECO and MATD deliver more oil next week...... with Red Deer and Joe !! Fingers crossed for more oil discoveries for the AIM small companies.

[pro_s2009] 09/9/2019 07:21

Also looks like Gazelle to spud BEFORE end of September.


.........DQE's drilling rig will move to the Gazelle location with a view to spudding Gazelle-1 before the end of September............

[trulyscrumptious] 09/9/2019 07:19

He has said previously that the oil was flowing our way so things are looking excellent. Congratulations to Mike and the team for 'getting some runs on the board.' This oil can be monetised very quickly so we will shortly be a producer.