Petro Matad Share Discussion Threads

[bungeetrader] 09/9/2019 14:17

Well, what an unbelievable reaction to great news. Wish I had some spare cash!

[unlikely2] 09/9/2019 14:17

2 solaris

I do wonder sometimes if people actually read RNS's to the end.

Quote from M.Buck at the end:-

"The results of the Heron-1 well are encouraging. Along with the well and wireline logging data being consistent with our pre-drill prognosis, there is also evidence of zones with better than expected porosity/permeability characteristics. The well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible. Further updates will be provided in due course."

Personally very satisfied with progress to date, and manner in which it has been communicated. Understated and factual.
The market re-action is simply an opportunity to top up at bargain prices.

[trulyscrumptious] 09/9/2019 14:17

Yes, it seems to have been a typo, what numpties. They appear to have realised they never wrote, 'Pleased', in the initial RNS. Now they are rectifying this but they need to rewrite the RNS, not just add it on Twitter.

[under the radar] 09/9/2019 14:16

7.625p was gap

7.63 was hit and bounced off it

[2solaris] 09/9/2019 14:11

Did they forget to omit one word in the original RNS and the penny has dropped?

[2solaris] 09/9/2019 14:10

And, please note the inclusion of the word 'PLEASED':


Petro Matad
@Petro_Matad
·
6h
We are pleased to announce the results of drilling and wireline logging at Heron-1. #MATD Please see the full announcement here:

[78steve] 09/9/2019 14:09

Going red now...

[2solaris] 09/9/2019 14:08

Slighty more positive than the RNS:


Petro Matad
@Petro_Matad
·
2h
"The results of the Heron-1 well are encouraging...the well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible.” Our CEO, Mike Buck on #Heron-1 #MATD

[under the radar] 09/9/2019 14:06

Waiting patiently ...

😃

[2solaris] 09/9/2019 13:58

I guess this RNS may have arrived in London last Friday pm about 14.20pm and is why the share price fell, 7 hrs time difference so 9.20pm in Mongolia.

[magnetformoney] 09/9/2019 13:44

Yeah stochs high and crossing and my other bespoke indicators gone flat. Expecting a retrace to low 7's now. You'll see...

[pro_s2009] 09/9/2019 13:31

For those not aware of the MATD past.......they have, many years ago and under different and useless management declared potential pay only to then flow water.........like DES did in the Falklands........like many oil companies have done - super excited RNS about hydrocarbons only to later limply say it flowed water...........

It is therefore very prudent to not to get the fireworks out until Heron-1 has flowed oil and can be declared commercial.

The fireworks in the share price will happen for Heron-1 - once the testing rig is on site and its flowed oil........... :)

Patience is the virtue. Until then......well not actually, next up is Red Deer-1 drill results..... :)

[under the radar] 09/9/2019 12:30

We’re not worthy!!!

RROFL

[theaviator] 09/9/2019 12:06

*following

[theaviator] 09/9/2019 12:05

Just flowing the chart. You should do a little research in my history ;)

[tomford8] 09/9/2019 12:04

no you got it wrong pal, your gap is bigger

[theaviator] 09/9/2019 12:01

Gap between your ears son. 7p next tbh

[tomford8] 09/9/2019 11:59

"not overly concerned with the price movement thus far, as now we have the initial indications of Oil and the 'better than expected' references, we can look forward to the further drilling activity in the nearer term, with a greater level of confidence that todays RNS has provided"...lse

absolutely!

Mike Buck CEO answers question on Heron 1 - re PetroChina

[under the radar] 09/9/2019 11:44

Gap nearly filled

[catchingmice] 09/9/2019 11:26

Why are people selling ?Sell on news understandably i didn't expect anything differentPlay them at their own game a bit like putting your towels out on holiday before the germans do it's the only way of playing the markets.The MICE

[cashandcard] 09/9/2019 11:24

spangle,

I take your point. However, there is a huge difference in scale, gross-netpay and nature of project - major offshore producer that is being quoted as having some of the lowest offshore costs in the world. ECO is more like COV, it will not be around for long as it does not have the clout to move towards multibillion barrel developments even for its 15% - in effect its a takeover play. Like COV at 8.5%, they will prove more and put the for sale sign up.

Today is an important day for MATD but when you have a track record that bad, it explains why the shareprice has barely managed to keep the mornings gains. They will have to do a lot more to instill confidence. What rates are the Chinese owned wells flowing?

Sorry for O/T folks, I await the results of Red Deer. If that comes in, it will be a game changer, which changes the dial for me in relation to building a position here.


Cash

[ducatiman] 09/9/2019 11:20

Amazed at the mkt reaction. Added.

[catchingmice] 09/9/2019 09:57

This PRO poster saying this stock has the best potential anywhere to rise 1000% by year end ?' Come on guys get real 'It's hit oil but it might not be commercial as judging by the rise the market is pretty dubious about the amount of oil ( If Commercial ) ?Like i said far better oilers out there than this.Not here offering advice as shares can go up and down so tread with caution.GLTHE MICE