Petro Matad Share Discussion Threads

[gaffer73] 09/9/2019 07:26

Well we've just moved from 'potential'!

[pro_s2009] 09/9/2019 07:25

And to put that into perspective...... If Heron delivers upside......42 MMBO recoverable.........thats 100% owned......and so MATD would have more oil than ECO currently have with their small share of Jethro........

Whats the ECO market cap ?

Hopefully both ECO and MATD deliver more oil next week...... with Red Deer and Joe !! Fingers crossed for more oil discoveries for the AIM small companies.

[pro_s2009] 09/9/2019 07:21

Also looks like Gazelle to spud BEFORE end of September.


.........DQE's drilling rig will move to the Gazelle location with a view to spudding Gazelle-1 before the end of September............

[trulyscrumptious] 09/9/2019 07:19

He has said previously that the oil was flowing our way so things are looking excellent. Congratulations to Mike and the team for 'getting some runs on the board.' This oil can be monetised very quickly so we will shortly be a producer.

[honestmarty] 09/9/2019 07:18

Hopefully good news here after testing.

RNS is somewhat guarded, MB is not fond of over-egging his predictions

[pro_s2009] 09/9/2019 07:18

Mike Buck says...... BETTER THAN EXPECTED.........Oh yes.......... :)

[1bonanza] 09/9/2019 07:17

Encouraging news. GLA holders

[1bonanza] 09/9/2019 07:16

This thread is very quiet this morning! Lol

[pro_s2009] 09/9/2019 07:14

I like the way that everything was in line with pre-drill estimates and in line with the PetroChina producing wells to the north - that tells you prior to testing its 99.9% going to be a producer. However, Mike also hints at upside and better reservoir.......which means.......recoverable oil estimates likely to be to the high side, above the mean figure of 25 MMBO recoverable.

Lovely news........... Finally..........Oil for MATD

[avsome1968] 09/9/2019 07:12

anyone know what the are producing further north at other wells

[pro_s2009] 09/9/2019 07:09

For info in case MATD strike oil :

Heron-1 smallest size 11 MMBO recoverable - 8p a share
Heron-1 Pmean size 25 MMBO recoverable - 18p a share
Heron-1 Best case size 42 MMBO recoverable - 30p a share

[pro_s2009] 09/9/2019 07:07

Hurrrrahhhh.............. we have oil and we have zones that were better than pre-drill expectations.

Cannot ask for more.

Heron to be 40 MMBO recoverable.......top side of estimates ?

[trulyscrumptious] 09/9/2019 07:07

Looks good,'better than expected', so at last we have a SUCCESS!!! OIL!!!

[2solaris] 09/9/2019 07:04

"The results of the Heron-1 well are encouraging. Along with the well and wireline logging data being consistent with our pre-drill prognosis, there is also evidence of zones with better than expected porosity/permeability characteristics. The well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible. Further updates will be provided in due course."

[pro_s2009] 09/9/2019 07:03

Time to start testing......better than expected results. MATD first oil discovery.



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[pro_s2009] 09/9/2019 04:37

Indeed Sapangle there is always room for error and surprises......Heron is as nailed on as you can get given its just 1000 meters away from another well which was successful BUT......there is always a chance for some weird reason that it fails.

[spangle93] 08/9/2019 23:46

Which particular posts were very interesting? Apart from Pro's.

I can't see anything grounded in reality of any note that isn't here.

Just a word about the map that suggests Heron is nailed on. A map looks factual but it's just the company's best interpretation of a limited set of data, and will be updated with the next piece of information that comes in. FWIW I think the error bar is sufficiently small, and that Heron will be successful, but you only have to look at the Colter well drilled earlier this year involving RBD, BOIL and UOG to see how a map can be redrawn after a well has thrown up surprises.

[under the radar] 08/9/2019 13:02

Been some very interesting posts on LSE over the weekend.

Seems most have overlooked them

BWTFDIK?

[gaffer73] 08/9/2019 12:44

I agree the potential is amazing, but for the moment it is just that, potential

[pro_s2009] 08/9/2019 11:49

So that would be my estimate, initial Heron-1 news can double the share price if oil strike. Further upside on flow testing and then reservoir estimates.

The one that could send MATD into blue sky gains is the week after next and Red Deer-1, if that strikes oil then a double again to 30p levels should be easy to achieve.

Again, both will offer more upside once flow testing results are out and estimates of reservoir size are known.

[pro_s2009] 08/9/2019 11:42

gaffer73, PetroChina flow tested 19-46-3 at commercial rates, so there is no reason to think that Heron-1 will also not flow at commercial rates if/when oil is struck.

Need to get that testing rig in asap if its an oil strike, get some reservoir data and then they can start to suggest on potential size. Heron could be between 11 MMBO and 42 MMBO recoverable........so there is a big price range that MATD could be.

I would expect at 15p to 20p range on Heron-1 oil strike........and then we await the testing data from the testing rig to see if we get an upgrade on potential reserves...... Heron alone could be worth up to 30p a share if it comes in to top sides of estimates.

But that upside from the flow testing will come later as before that comes Red Deer-1 result. Higher risk is Red Deer-1 but also bigger size and the key to derisking some 600 MMBO recoverable in Block XX South prospects/leads. Red Deer alone ranges from 20 MMBO to 82 MMBO recoverable and thats up to 61p a share on its own - not including the other prospects and leads that might be derisked leading to 600 MMBO recoverable more in potential in Block XX South.

Bloody exciting few weeks/months ahead......no other stock on AIM has this upside potential, where the share price could be over 1000% higher by the end of the year in the success case of wells and then flow testing.

[gaffer73] 08/9/2019 10:41

To be fair the mcap is 60m and we have not found any oil so far.When we hit oil it will completely change the status of the company and I would expect the share price to reflect it, as long as its commercial of course.

[pro_s2009] 08/9/2019 08:40

Yes, exactly........if Petro Matad strike oil then PetroChina will attempt to farm in.

PetroChina will develop oil discoveries.

They will not go exploring - so the basics are Petro Matad explores and then on discoveries PetroChina farm in and help development.

Petro Matad then becomes a producer/explorer and is able to fund going elephant hunting in Blocks V and IV from their own free cash flow.......and not go about diluting with placings.

This is why they have held back drill 4...........because they dont want to run out of cash.

If Heron-1 or Red Deer-1 or Gazelle-1 or all of them strike oil they can get these fast tracked into production and generate funds........ and they can use drill 4 funds to do that or they can farm out to PetroChina for development which releases drill 4 money to go drill another well. In the meantime production starts (they have pumps already as Mike has said in the presentation) and they start generating cash.

All looks very rosy, just need Heron-1 to deliver oil this coming week.

[2solaris] 08/9/2019 08:32

It's starting to come together at last. Yes, funny how people use this as a short term betting platform, that's their way of doing things but it's annoying to read the waffle they sometimes write, such as PetroChina will buy out PetroMatad. MB clearly states PC are a producer and not an explorer. I take this to mean they will not want a buy out but are likely to farm in to Heron as you say, because this falls within their business model.