Petro Matad Share Discussion Threads

[pro_s2009] 03/9/2019 15:45

Vertical take off engaged.........

[pro_s2009] 03/9/2019 15:45

Up through 8p......onwards..........oil at Heron-1 fingers crossed.

[pro_s2009] 03/9/2019 15:37

Next target for me is 18p with good Heron-1 oil discovery.

[theaviator] 03/9/2019 15:35

We took off from a nice higher low so next target for me 10p

[pro_s2009] 03/9/2019 15:33

Do you think we are drilling into the Heron-1 target zone now......... :)

[grannyboy] 03/9/2019 10:18

Yes you will get a lot clambering in over the next few days into the weekend for the possible Monday morning RNS...

[trulyscrumptious] 03/9/2019 10:13

I wouldn't want to be out over the weekend!!!
(Or before)

[theaviator] 03/9/2019 09:45

Took some at 7.32 earlier. Was being hounded by a mate lol

[2solaris] 03/9/2019 09:05

It seems the sensible option that will allow them to become self-funding although they may need the option of a loan for next year.

[jamie414] 03/9/2019 08:25

https://youtu.be/sfmAeijj5cM

[pro_s2009] 03/9/2019 08:22

Yes........save the money.

Might be Heron-2 appraisal well.

Might be Red Deer-2 appraisal well.

Might be production facilities instead to get Heron and Red Deer oil discoveries (if they are) on line and making money.

Might hold the cash back and wait for farm in to Heron or Red Deer.......let the farm in generate cash then drill more.

Loads of options - better keep the cash in the bank and have a strong hand.

[grannyboy] 03/9/2019 08:21

It dosn't look like they are intending to go over to block IV/V this year, and look to be concentrating on block XX, RD, Heron, Gazelle if any oil found ....

[2solaris] 03/9/2019 08:20

No mention of 4th well so undecided until results I suppose.

[pro_s2009] 03/9/2019 08:14

50p a share of upside potential in the next 2 weeks.

18p for Heron-1

32p for Red Deer-1


Present price just over 7p.

Better than a lottery ticket for sure :)

[jamie414] 03/9/2019 08:12

Be careful on your ladder today whilst cleaning windows, it would be a shame for you to fall and break your neck ;)

[avsome1968] 03/9/2019 08:06

wow flying 7.75

[2solaris] 03/9/2019 08:04

This fell too far and should never be under 10p with drill results about to come in.
Great photo!

[avsome1968] 03/9/2019 08:02

open 7.25 to buy

[tomford8] 03/9/2019 08:01

Entering the big league?

The RNS was indeed one of the best I have read from Petro Matad, extremely professional accurate and to the point – they seem almost knowingly to have answered all the questions posed by us here, have they been reading the LSE forum!

My take is a little more than just a read, the RNS speaks volumes in my opinion; it confirms concerns regarding;
- Funding or placing
- Order of Drilling / Reporting
- Reiterates the size of well and that Gazelle will be drilled also this year

Firstly, they confirm they had USD 3.79 million in cash in June and further confirm “Following the two successful placings in 2018, no new fund raises have been undertaken in 2019 as the Company's cash resources are sufficient to fully meet the costs of the planned 2019 drilling programme.”

Thus my take – they have dispelled the placing rumour.

Next, they have confirmed the order;

“The Company expects to be in a position to announce the results of the drilling and logging of the well during the week commencing 9 September 2019.”
“Drilling operations continue towards the planned TD of 2,100 metres. Results from the drilling and logging of the well are expected to be completed by mid-September 2019.”

Thus Heron first, Red deer second, the best result imo. (although they could deliver together)

Do you feel like that RNS was written by a far more professional company, maybe even one stepping up to the big league. - posted cheers to JAdam lse

[grannyboy] 03/9/2019 08:01

I was expecting Red Deer to announce first but they must have made up the time at Heron...but no big deal either way, onward and up.

[avsome1968] 03/9/2019 07:50

True Pro but done ok out of it 7,15 Average sell 50k to ride on results got to admit tempted to buy a few this morning depends on price .

[big brother8] 03/9/2019 07:47

STAMPEDE TODAY.

NOT AROUND, HE'S HEADING HIS LOCAL KINDERGARTEN WITH SWEETS IN HIS HANDS.