Petro Matad Share Discussion Threads

[matunde24] 12/8/2019 13:23

Is a specific rns for this or inside info?

[pro_s2009] 12/8/2019 12:01

It based on the what the Chinese drilling rig crew estimated for completion of the well. Based on their timescales, they should be into the 1st zone of interest by around Monday the 19th August.

Who knows ?

[matunde24] 12/8/2019 11:51

Whats exactly planned for the 19th of August? Has this been mentioned on any rns with that specific date?

[robertjbeck] 12/8/2019 11:42

Another case of poor management. Good job I had exposure in ECO. Trust those Tullow boys to deliver.

[alistair4444] 12/8/2019 09:45

I expect news flow on Red Deer to start to filter though by end of this week into start of next judging by expectations/results of theexperience local drill team...

[2solaris] 12/8/2019 09:45

I think you said about the 19th for the first of the three Red Deer target zones. If there is oil, I wonder if they will tell us and give some decent news for the first time.

[pro_s2009] 12/8/2019 09:30

New thread up and running for I3 Energy. Another one to drill soon, more North Sea than Mongolia, so less provincial risk LOL :) Although not the unbridled upside of MATD if Red Deer-1 strikes oil.



.

[pro_s2009] 12/8/2019 01:59

If they dont drill Heron and Red Deer srikes oil - they can pile everything into Red Deer.

Heron not being drilled means Gazelle not drilled, which means they can drill a 2nd well on Red Deer to appraise it.

Not all scenarios are bad.......just got to wait and see what pans out. At this moment in time Central Government has made a mistake in not getting the Provincial paperwork sorted. It is up to Central Government to resolve this, not MATD. MATD have done everything to the rules.

[grannyboy] 11/8/2019 23:32

IF they get the permission to drill from the regional government in the next few days, fine, but if it drags on then Heron won't be completed this year and they will need to do a fundraise.

As to "those who sold out are doing their level best to see the share price down or subdued"

I have not been selling any..YET!, and I certainly don't want the share price to fall...but it's down to MATD and the Mangolian authorities incompetence that has facilitated this scenario ..

[pro_s2009] 11/8/2019 22:43

If they strike oil at Heron-1 then there is no cost to the company as all costs in explo, production and sales can be recovered from oil production and sales.

There certainly is time to get the rig to Block V and drill there..... no issues on that.

Anyway, lets see how the week goes.

I am expecting an update this week on Heron-1. Lets wait and see shall we. Obviously those who sold out are doing their level best to see the share price down or subdued as much as possible.

:)

[grannyboy] 11/8/2019 21:48

If, as the company want us to believe that they thought everything was kosha and the permission from ALL parties had been agreed by the tripartite then the company should have a claim against these three parts of government, for the cost of downtime caused and also if MATD have to drill before a certain date in 2020 otherwise lose the licence, then this threat should be recinded due to it being the fault of the tripartite group and an extension granted..

[taxibabe] 11/8/2019 21:40

maybe they knew and just glossed it over hoping it would go away. A bit odd them drilling 500m before getting cold feet and suspending the well.

[grannyboy] 11/8/2019 21:03

Well if they don't get the Heron problem sorted in short order and Red Deer is a duster then that will be it for this year and another fundraise will be needed...I think it's been total incompetence by MATD management that this has happened...they are well paid to pre-empt these kind of things.

[gaffer73] 11/8/2019 20:43

Yes, the only thing certain in life is death.

[taxibabe] 11/8/2019 20:32

If and its 43% chance not 75% like Heron so it's hardly certain

[gaffer73] 11/8/2019 20:00

And if they strike oil all will be forgiven :)

[taxibabe] 11/8/2019 16:51

I see the standby rates business as merely an attempt to let shareholders down gently and play for time until red deer is drilled. If it succeeds they will promptly drill another well there and pull the heron gazelle plans if it fails its game over and block v won't happen as they wi?l need to conserve their cash for wages. Another rights issue won't happen as their credibility will be gone.

[taxibabe] 11/8/2019 16:47

i see so block v it is only it won't happen until next year cause of the distance and by then they will almost certainly need more money. I can see well programme has been diluted down to 1 red deer.

[pro_s2009] 11/8/2019 16:23

Gazelle cannot be drilled if Heron is stopped - same area.

Which means that they will be moving to Block V and drilling there instead as the rig at Heron-1 cannot drill any more wells in that area of Block XX.

The simple fact they are paying standby rates means that the company think the issue can be resolved. Its Central Government against Local Council......lets see who wins that one.........

[taxibabe] 11/8/2019 16:17

drilling has stopped over permitting issues which suggests that the heron well did not comply with local gov permitting requirements. I don't think that well wiĺl be resolved anytime soon. So it all hinges on red deer, and to a lesser e extent gazelle. Velicoraptor had been postponed to 2020 and will probably not happen unless they strike oil elsewhere.

[alistair4444] 11/8/2019 15:30

Petro Matad Heron1 drill offical PSC

Companies that are conducting petroleum activities according to the Mongolian Goverment PSCs including Sukhbaatar district : Petro Matad drilling PSC for Heron 1 well located in block Matad-XX -

Contact detail; Ulaanbaatar city, Sukhbaatar district, khoroo 8, prime minister Amar’s street, NIK company building

[knowing] 09/8/2019 13:36

Keeping a close on on this one along with SIA which is attracting some interest.

[grannyboy] 09/8/2019 09:21

Informative find Alistair4444, looks like there needs to be an express job creation dept set up in the MATD organisation to facilitate the completion of the Heron well and any future wells.