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MATD Petro Matad Limited

-0.35 (-8.97%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petro Matad Limited LSE:MATD London Ordinary Share IM00B292WR19 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.35 -8.97% 3.55 3.50 3.60 3.90 3.55 3.90 9,172,876 16:10:56
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 201k -2.95M -0.0026 -13.65 39.54M
Petro Matad Limited is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker MATD. The last closing price for Petro Matad was 3.90p. Over the last year, Petro Matad shares have traded in a share price range of 1.65p to 6.40p.

Petro Matad currently has 1,113,883,601 shares in issue. The market capitalisation of Petro Matad is £39.54 million. Petro Matad has a price to earnings ratio (PE ratio) of -13.65.

Petro Matad Share Discussion Threads

Showing 12476 to 12499 of 12500 messages
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Getting really smashed now, we should have a rig agreement by now. I hope that this is not yet another false dawn with a signature we had no knowledge of being required before the rig can be mobilised. More waiting I guess.
Priority was Heron and think they want to bring as many wells as possible for them to generate enough revenue to then focus on other areas namely Gazelle for which Lp is a necessity as Heron greenlight is for next 5 years and like anyone theyd want to bring wells online as quickly as they can.DQE will want to be part of Heron wells as this will give cp enough oil to counter their depleting wells and their depleting oil production.
There are still uncertainties:

The Matad authorities still ignoring full extent of license area by overlapping their exclusion - they've been told bu central govt to amend, but haven't

The central govt still seems incapable of actually formalising the special purpose land - why, who knows!

Both above give a degree of uncertainty point forward and both need resolution, the special purpose categorisation now not until after elections so again probably falling into the governmental abyss

As I understand it the rig dates still to be secured and oil offtake agreement sorted (I may be out of date though).

With all the above this is going to struggle and will pull back... need the BoD to get all the above sorted ASAP but not necessarily in their hands. If it does get sorted I would not be surprised to see this more than double, I have all crossed for a positive outcome.

This isn't what was expected? ....
Oops, wrong BB!
Well one weeks advances smashed in an afternoon. Not sure the reasons why, but certainly organised, the pattern of the selling was so obvious. Back under a penny. Short lived hope, more waiting needed.
I think it's undervalued as well. Especially considering that it has recently been much higher with no news. Maybe it's fatigue from constant set backs each time that news looks imminent and people just expect there to be a spanner in the works.
Once an RNS lands stating a specific date that oil extraction begins the share price will double at the least. All IMHO of course.
Some decent sized buys today though which is re-assuring. People are confident enough put that kind of money down.
Fingers crossed we don't have to wait long now.

mr royle
The potential wealth of the recent news is currently undervalued imho..
Once we are pumping oil, they share price should be in double figures. Then any raise will be half the share dilution it is right now. It's a long long game, but one which is starting to look and feel better :)
It's usually just after good news - although I can't see a placing being less than 4p?
I hear you @telbap, and I do agree in as much as we don't know until it happens or it doesn't happen.

I just can't see the reason for doing it, but who knows what the BOD are thinking ..

I'll be bloody furious if they do it again though, been shafted by the rise after they got the EL when I was in decent profit for about 24 hours. Lol

Keep them fingers crossed that we just get a nice RNS stating that DQE or someone else is ready to roll and that we'll soon be pumping Oil for the first time :)

mr royle
@mr royle, as I said, supposition.May it or may happen. Who knows....other than the BOD ;)
Mike Buck stated recently that we have enough money to see us all the way through into 2025 and we also have a soft loan available as well so there is no need for a raise.

There may well be a raise further down the line of course, but I would imagine it would be after production begins and the share price would already be much higher then.

A raise now doesn't make sense as it isn't needed.

mr royle
There might be a new one coming, they have not raised for Some time now, might be getting short of cash?All supposition, trying to home in on a reasoning.
Was there a placing at 4p?
Yes but why get out now when there's all to play for?
Someone I wonder who is selling large chunks Wonder how many more they have ?
Shares never go up in a straight line ...patience. ..
Heron news will set this on fire
That's the rampers for you.
So much for the 7p finish!
must be some big sells in the back ground as keeps going down
Can I say BOOM yet or do I have to wait for the official RNS? Here is the new brokers note!



Local approvals received – ready to roll
Petro Matad released an operational update on 29 May. The key message
is that local approvals for land rights have been approved to allow the 2024
operational programme to start. This will allow Petro Matad to move ahead
with the initial development of the Heron oil discovery. Management is in
discussions with DQE, the leading oil service provider, to mobilise a
completion crew to the Heron-1 well. Although Mongolia’s parliamentary
elections could cause a delay, it is hoped that the crew will be on site in the
next month. This is good news for Petro Matad and its shareholders as it
will allow the company to complete the Heron-1 oil discovery well as a
producer and be in a position to start generating cash flow.
▪ Remaining approvals from Matad District. Petro Matad announced that
it has received the remaining approvals of land use by the local
authorities. This covers three areas selected by the company and is valid
for five years. Although the central government has still to approve Block
XX as State Special Purpose Land, this local approval gives the company
the ability to move ahead with the development of the Heron oil discovery
and to be in a position to start generating cash flow.
▪ Lining up logistics. With the approvals, management is now moving ahead
on the development. Petro Matad is in discussion with DQE, the leading
Chinese oil service provider in Mongolia, about the timing of a completion
crew on the Heron-1 field. Although the parliamentary elections on 28
June could prove to be disruptive, it is hoped that this could happen in the
next month. This would see the initial discovery well completed into a
production well, and be in a position to start oil production and generating
cash flows. The company is in discussions with PetroChina over details on
oil processing, export and sales through the adjacent facilities.
Management wants the well to be ready to produce once these
agreements with PetroChina are finalised.
▪ State certification slow. Petro Matad would still like to have certification
of Block XX as State Special Purpose Land, which would allow a long-term
resolution of the land access issue. MRPAM (Mineral Resources and
Petroleum Authority of Mongolia) has written to the provincial authorities
instructing them to revise co-ordinates in disputed areas. The Ministry for
Economic Development has advised that it is preparing a submission to
Cabinet to remove any obstacles to the certification progress. Although
the rhetoric is positive, progress is slow. Petro Matad does not expect that
there will be any major progress on this issue until after the elections.
▪ Renewables moving ahead. As in the trading update of 25 April (see
Renewables JV excites as frustrations persist, 2 May) the renewables joint
venture SRE (SunSteppe Renewable Energy) is progressing well. At the
Oyu Tolgoi gold and copper mine, Wood Group is now conducting a
technical and commercial evaluation, which is expected to be completed
in Q3 2024. On the Choir Battery Energy Storage System, environmental
studies have started in preparation to submit an application to start
construction. SRE is now advancing a third project, which, following the
signing of an exclusive cooperation agreement, is looking at the potential
of exporting 1.5 GW of renewable energy to China.

Consolidated at 5p and some profit takers. Once they are done, this will start pushing to 6p and will likely finish around 7p today. Surprised it isn't in double digits yet but then again RNS drop was midday and wasn't digested by the masses. Looks like investors are finally looking into Heron and recognising this could do a HE1 style rise. Look at previous highs and what this company is on the verge of.

See you at 10p

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