Petro Matad Share Discussion Threads

[pro_s2009] 15/8/2019 13:16

Errr...that news was from 2012......only 7 years ago..........

[under the radar] 15/8/2019 13:07

From lse

Guys,
I found this, but when they released or report this news? Any idea?

hxxps://www.oilcapital.com/companies/news/7759/petro-matad-biggest-shareholder-petrovis-raises-stake-to-4588-pct--9877.html

[2solaris] 15/8/2019 10:22

Full steam ahead now, thanks for you input Pro, much appreciated once again.

[daniel levi bmd] 15/8/2019 09:59

FYI

West Newton. Oil Discovery Briefed To The Corporates Behind The Scenes.

Dan
x

[ken chung] 15/8/2019 09:54

T 19-46-3 is only 1 km from MATD's drill and there is a danger it already extracted any oil leaving nothing left for MATD.

Binding inter-ministerial permissions still not yet obtained.

Lemmings and mushrooms only.

[pro_s2009] 15/8/2019 09:23

Albeit many a long term MATD holder will say you can be this unlucky.... LOL.


All change through, new era, new times, oil discovery from one of the 2 ongoing wells and its fireworks time.....finally.

[datait2019] 15/8/2019 09:12

Watch most bail on any news

[datait2019] 15/8/2019 09:12

This should be below 4p until results are known

[datait2019] 15/8/2019 09:11

Ramping has started again by pro and gang

[pro_s2009] 15/8/2019 09:07

Yes the abbot, thats why I said before that if this Heron-1 well does not strike oil then I will believe without a doubt that MATD have been cursed with voodoo and witchcraft.

Because you cannot be this unlucky.........

[pro_s2009] 15/8/2019 08:50

Yep, they drilled T 19-46-3 as well I believe........and so, there should really be no changes as its only a short distance to Heron-1, hence their confidence.

[spangle93] 15/8/2019 08:46

OK, thanks for the picture - guess we are both right. Conventionally you'd set a casing just above, or into, a reservoir, because the overburden needs higher mud weight than the reservoir, but sounds like the experience of Block XIX is that the geology is boring enough that they don't need to. Saves the cost of a casing string too.

[pro_s2009] 15/8/2019 08:44

And if you look at that, and T 19-46-3 is a producer........then, baring any amazing upsets.......Heron-1 will also be a producer as its same formation and no faults between the two.

Location seems to have been chosen to ensure no faults and continuous from T 19-46-3. If Heron-1 is good an appraisal will be more to the southern edge away from T 19-46-3 and Heron-1

[pro_s2009] 15/8/2019 08:41

Spangle, from the earlier RNS.

....Meanwhile, at Heron-1, the first casing point at 551 metres was reached on schedule and casing has been run and cemented. The DQE rig 40105 is now ready to drill out cement and then drill 8 1/2 inch hole to the prognosed TD of 3,050 metres........


They are currently at the red arrow. The drilling rig contractor says they know this area like the back of their hand (they have drilled so many times for PetroChina in this area all over the place) and can drill quickly without issue. They must be happy with the well design and not worry about any geologic surprises.

[done deal] 15/8/2019 08:37

Share price about to jump.

Could see 9p today.

[spangle93] 15/8/2019 08:26

Hi Pro

Ref your timing scenarios, the sentence that caught my eye in the RNS is "Preparations are now being made to drill the 8 1/2 inch hole section on the well and simultaneously the Company is working with the local Governor to sign a land use agreement."

Conventionally, reservoir sections are drilled in 8.1/2-in hole.

Seems a bit fast, admittedly, but all industry standard formation evaluation kit is designed for this size. You can do it in 6-in hole, but not many plan for this (1) because tools are scarcer and (2) if the hole falls in on you and you need a contingent string or a sidetrack, you can do it from 8.1/2-in down to 6-in, but you are stuffed if it happens in 6-in

[pro_s2009] 15/8/2019 08:23

Dont think so.

Markets are weak now. Lots of money sat on the sidelines waiting to come in. People will be watching MATD next week....any sudden volume spikes and big buying and the hot money will pile in then.

Next 2 weeks is just watching for volume spikes as Red Deer goes through the secondary and then finally the primary target zones.

[done deal] 15/8/2019 08:20

Think we will see 9p today.

[pro_s2009] 15/8/2019 08:19

And with any oil company, your only as good as your last drill.

Drill a duster - get hammered

Drill an oil strike - your a start until your next drilling result.

[pro_s2009] 15/8/2019 08:14

Red Deer is over 40% and Heron over 70%.

Heron upside 250% and Red Deer upside 500%


So if Red Deer fails there is no reason to sell, really, as Heron has a damn good chance of coming in good and worth over double the current share price.

Every dog has its day.............. an oil strike must be coming the way of MATD soon.......where the frog turns into a Prince.

[done deal] 15/8/2019 08:09

70% probability of success makes it a good bet at this price and if it comes good it will be many multiples of the current level.