Petro Matad Investors - MATD

Petro Matad Investors - MATD

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Stock Name Stock Symbol Market Stock Type
Petro Matad Limited MATD London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-0.05 -1.82% 2.70 16:35:04
Open Price Low Price High Price Close Price Previous Close
2.775 2.725 2.775 2.70 2.75
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Top Investor Posts

pro_s2009: .
pro_s2009: Try : .
marketanalyst1: Profoundly mispriced.
mpls: There's also an investor call, I presume around the time of the AGM. As well as media interviews, when Mike is in the UK the week of the oil and gas investor meeting. Likely news before those events so there's no disclosure issues.
matunde24: Best of the best is u.. And best of That best is investors like us... Well done big sista in da tree house.. Big daddy watching you... Big daddy change ur nappy... And nig mamma stiff dummy in ur nose.. Sorry... Big daddy and mamma out dummy in ur jaws teeth mouth... Big daddy warning u... U not write here again or big daddy send you back home to big familia... Capiche!
ranald: GoM: Are you the type of guy who has to think carefully before getting out of bed in the morning because of the risk that you might fall down the stairs? Life is a risk, just think of your normal daily routine where risks are everywhere, from burning yourself when making a cup of tea, to being involved in a car crash or being knocked down by a bus. We accept these daily risks without really thinking about it because we have come to understand that they are acceptable in the scheme of what we are trying to do. Sometimes we are wrong (people get killed on the roads every day) but that does not stop us from taking these risks. It is all a matter of perception and degree. Oil exploration is a risky business, that is a fact. And like in our everyday lives oil investors have deemed these risks acceptable to them in return for a possible reward. As an aside that perhaps illustrates this, I was reading an article at the weekend about 2 guys who 8 years ago sunk all their savings into starting a cannabis investment company. Almost everyone they spoke to thought that they were nuts but they were undaunted and now their company is worth $2.4Bn. We all have the choice, either accept who we are and what we have and be happy with that, or shoot for something better. There are many vehicles to do this and oil investing is one of them. Just remember that when North Sea oil exploration started everyone thought it a complete waste of time. I rest my case!
gunsofmarscapone: Morning All. Well done any punters who took the lower risk gamble on well test rather than a wildcat. I would be very cautious in blindly accepting Pro’s assertion that 1000-1500 bopd is possible. It all looks reasonable, one or two observations. The well head flowing pressure is fairly ordinary at 250 psi which tends to support the moderate flow rate of 200Bpd. It is unwise for the moment to infer any positives from the headline rate of 821bpd. Wisdom dictates that time should be taken to review and evaluate this, so far, good set of results: it is probable that more wells will be required in order to create a field development plan which will optimise recoverability, this will cost money. So, Matd now have the opportunity to become a producer, which could have been the case two or even ten years ago. Still, now success seems almost certain and accordingly the wiser investors will now arrive, maybe over the winter or next year... An interesting and to be honest occasionally comical story. Flows of Yak herds causing cultural conflict, botched visa applications, free diggers and playgrounds donated, permit disputes, dusters (a lot), and the annual brainfogging time pressure created by rapid onset of winter weather. It ought to serve as a lesson for any newbies entering AIM. How many are in profit this week? Probably only those who joined the party at 3 pence. This is the reality. In conclusion though, well done to Mike and Petro Matad. Most of the risks were out of their direct control but perhaps lessons have been learnt and more judicious strategies evolved in the future?
catchingmice: They are running out of funds and don't have any wells worth drillingThis one is another typical oiler that has fooled many investors
bad gateway: Apologies for the length of the piece advfn wouldn't allow any sort of link from proactive??? Petro Matad Limited Petro Matad reports third oil find in eastern Mongolia Whilst Petro Matad has found oil in its third exploration well, the result did not confirm hydrocarbon continuity between the previous two discoveries. With the Mongolian winter looming on the horizon the company has now called an end to the successful 2010 exploration program. Petro Matad (LON:MATD) shares came under pressure following mixed results from the third Davsan Tolgoi (DT-3) well in eastern Mongolia. DT-3 is the third well to successfully find oil on Block XX, but initial analysis has raised a question mark over the previously considered model for the prospect. The well encountered significant hydrocarbon shows whilst drilling both the Lower Tsagaantsav formation and the overlying Upper Zuunbayan formation. However further analysis indicates that DT-3 lies within a separate compartment from the previous two wells. With the harsh Mongolian winter closing in, Petro Matad has effectively called an end to the 2010 work programme, however a specialised rig may still be deployed to drill an extra well in the coming weeks. Westhouse Securities oil and gas expert David Hart said it was a mixed announcement. Speaking with Proactive Investors, Hart said that whilst the market seems fixated on the weaker parts, there are equally some very positive things to take from the update. The main points the analyst highlighted were: the new opportunity to drill a fourth well; the thicker reservoir rock - compared to the thickness assumed in the previous 122 million barrel estimate; and the continuation of seismic exploration through the winter. The analyst wouldn’t be drawn on any concrete conclusions regarding the impact to the company’s valuation, but noted that he has not made changes to his current rating so far. In a note to clients on the 21 October Hart reiterated his ‘buy’ rating on Petro Matad targeting 250p. Overall the 2010 programme has proved to be a success despite its initial delays, technical complications and a slightly premature end. "In its maiden year of drilling, Petro Matad is pleased to have discovered hydrocarbons on all three wells,” chief executive Douglas McGay said. Investors piled the pressure on the shares in light of this latest development, with Petro Matad shares down around 20 percent at around 108 pence in afternoon deals. Although today’s update has prompted something of a sell-off, a glance at the Petro Matad’s chart will quickly put the company’s progress into perspective. The shares have more than doubled in value since the start of the drilling campaign, when they were trading ataround 45 pence each. Petro Matad then hit a new high at 199 pence with the DT-2 results announcement on 6 October. The DT-3 well was drilled to 1,266 metres on 27 October 2010. The well primarily targeted the Lower Tsagaantsav formation. It was designed to test the continuity of hydrocarbons in Tsagaantsav reservoirs between the DT-1 and DT-2. Petro Matad said that preliminary analysis shows more than 50 metres of high-quality reservoir rocks with average porosities above 20 percent. Additionally the Lower Tsagaantsav sandstones included 10m of weak live oil shows, including elevated levels of pentane gas. However the calculated hydrocarbon saturations are low throughout the reservoir. With both DT-1 and DT-2 showing high hydrocarbon saturation Petro Matad believes that DT-3 lies within a separate fluid compartment. Subsequently each compartment will be evaluated by the remapping of the 3D seismic survey. In the Upper Zuunbayan preliminary analysis has delineated 5.5 metres of potential net oil pay, with average porosity of 23 percent. "While the results from DT-3 have not proven very positive for hydrocarbons in the Tsagaantsav formation at this location, we consider it important that the well encountered a significant hydrocarbon interval in the overlying Zuunbayan Formation,” McGay added. “The elevated gas levels and the reservoir quality of the Tsagaantsav are also technically meaningful, demonstrating the capability of long-range oil and gas migration to the Greater Davsan Tolgoi prospect.” Petro Matad began the 2010 drilling campaign on the back-foot after an unusually long Mongolian winter. This delayed start was exacerbated further by a foot-and-mouth outbreak that isolated the first well site until June 2010. Now with the Mongolian winter looming once again Petro Matad’s engineering consultant has recommended that the testing phase of the program is deferred until the spring. Consequently it has now released it drilling contractor for 2010. "Other exploration programmes are being advanced at this time,” McGay said. The company has located a ‘partially winterised’ rig team that has drilled until mid-December in similar circumstances. “The most significant current development is the possibility of a further add-on drilling programme at Davsan Tolgoi before the end of this year.” Petro Matad said that negotiations to secure that rig are in the final stages, and it plans to drill at least one well, starting in mid-November, if it can contract the rig and its crew. This well would be drilled on a separate closure to the Greater Davsan Tolgoi prospect. “Additionally, tenders for 2D and 3D seismic surveys on Block XX are currently being evaluated, with a view to undertaking those surveys during the winter months.”
2solaris: gaffer73. You may be right but the 3m+ sell indicates someone is off-loading larger amounts than most private investors have. Yesterday there were more buys than sells, or so it appears. There may be a few scenarios, any thoughts anyone? It could be: 1. People selling in advance of news through fear. 2. Big seller spooking everyone into selling. 3. Big seller spooking many to buy. 4. Big seller selling in order to buy at a small placing. 5. But why a placing, we were told there was enough for a 6 well programme? 6. Placing to fund for an extra well as there is oil at Red Deer. 7. Investors exhibiting sheep syndrome, or perhaps in this case, yak syndrome. Any other scenarios?
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