Petro Matad Share Discussion Threads

[pro_s2009] 10/11/2019 21:03

News expected Tuesday morning it seems.

[thebradski007] 10/11/2019 12:14

You my friend now?

[thebradski007] 10/11/2019 12:14

It's only a bit of fun anyway isn't it

[thebradski007] 10/11/2019 12:13

Warriors......come out to plaaaaaaaaay! Unfiltered you int I, kinda missed you in a creepy way.

[pro_s2009] 09/11/2019 22:48

mpls - not sure when meeting Malcy this coming week, all I know is Malcy said he is meeting up with Mike this week sometime.

[thebradski007] 09/11/2019 19:11

'Thread' thicko

[pro_s2009] 09/11/2019 03:56

Mike is going to be busy next week, so far he is :


Shareholder update and presentation meeting on November 12th morning 9am




Followed by

Presentation at LSE event, late afternoon on November 12th.




Also next week he is meeting with Malcy, so an update from Malcy will also be done.



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[pro_s2009] 08/11/2019 19:06

Decent end to the week..... News next week... Will it be Monday morning or Tuesday morning......??

[pro_s2009] 08/11/2019 08:48

We shall know more Spangle, after Tuesday next week.

[spangle93] 08/11/2019 08:43

Or indeed smaller

Though the fact that Heron came in higher than projected does support the view that volumes are likely to be raised relative to pre-drill.

[pro_s2009] 08/11/2019 00:07

Going over what the chief Mongolian geologist said it would seem they have found no oil/water contact as yet, therefore the area which Heron has oil in it, could be larger than previously thought as they expected to find an OWC.

[pro_s2009] 07/11/2019 19:09

Our chief Mongolian geologist was the one who said zero water and believes that this means Heron is potentially bigger.

[pro_s2009] 07/11/2019 19:02

Flow at surface is Outflow..... The Inflow capability downhole will be greater as it not pushing it up the bore to surface. Hence if downhole pressure is good a pump could deliver more.

With regards to water... Absolutely.... Heron has produced oil and associated gas only.... Zero water.

[mpls] 07/11/2019 11:17

Not clear from the RNS if Mike is expecting more than 821 or less than 821.
Been 2 weeks since the RNS so I anticipate the pressure data etc has been analysed to determine sustained rates. Expect RNS next Tuesday at the latest to confirm.

[mpls] 07/11/2019 11:14

From the Heron-1 testing RNS

Given the capacity of the well to flow naturally to surface at what is clearly a commercial flow rate ... test data will now be analysed to determine ... what rate the reservoir could be expected to sustain if the well is pumped

[spangle93] 07/11/2019 11:14

Sort of - interpreting well test results is a black art, and licence can be taken, just ask BLOE holders for whom the proportion of water was not shared. At least here they specifically stated bOpd


So for instance
- On the minus side it says peak rate was 820 bopd, but there's no law against taking a two minute surge and extrapolating to provide a daily rate.
- On the plus side, it was choked back, so the maximum rate could be more

What you'd look for is sustainable rate, so the part where it says "Through this period, the well flowed at an average rate of 200 bopd with a well head flowing pressure of 250 psi." would be my guess at where they'd try to land the production rate. Maybe a bit more with a lower pressure (wider choke), but not a "short life but a happy one" rate.

Maybe the question for Mike should ask about indicative production rates

[pro_s2009] 07/11/2019 08:36

Hi Spangle, well Mike did mention about the use of a pump to increase flows in future, will be looked into when all testing is completed and they have the reservoir pressure data.

What we have with Heron-1 is Outflow under natural pressure to surface of 821bopd.

What is the Inflow rate downhole ? Should be well above the 821bopd as measured at surface.

[spangle93] 07/11/2019 08:08

Will you be utilising a pump at Heron-1 to potentially flow at 1000bopd or higher?

Only if the reservoir can sustainably supply fluid to the well at the same rate.
Normally a pump is used to help with lifting the well if energy is low, or controlling flow, not increasing it.


Ref Velociraptor postponement. We has quite a vibrant discussion around April IIRC about whether 4 wells would be drilled this year, or just 3. Maybe those who used a bit of excessive force in their arguments that if he says 4, then 4 will happen should consider that in their future investing in the sector. The oilfield industry is all about giving guidance, making projections, or having aspirations and plans with the information that you have at the time, whether it's schedules or volumes. Each new data point constrains, or changes, those projections.

[pro_s2009] 06/11/2019 01:47

Most important is to get the Exploitation License awarded. Then MATD have an asset, with which they can farm out, borrow money against for development etc...

Mike was very clever to cancel the Velciraptor well, this leaves MATD with enough cash to run the whole of 2020, they are under no pressure.

If the Exploitation License takes an extra few months to award, they can wait.....once thats awarded then everything changes.

[mpls] 05/11/2019 16:47

I'd expect Mike knows, or has a good estimate that will be confirmed shortly, what the sustained flow rates at the various intervals are with or without stimulation or pumping and the costs involved to get the operation off the ground. That will feed into forward plans for cash generation and how quickly Heron-2, Heron-3... can be drilled.

I'm not sure the re-interpretation of the drilling results into the models will be complete yet. Perhaps from Red Deer and Gazelle and Heron drilling as they were complete a while ago but not all the flow data. Again, news on that may more time.

All of the above feeds into unitisation, possible farmin-in, synergies with other players etc. News on that will take a little more time.

[pro_s2009] 05/11/2019 10:28

Well, it means we will be getting an Operations Update on or before the 12th. Looking forward to the latest news.



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[gunsofmarscapone] 05/11/2019 10:14

Will have a look but imo still too early to invest, not that I will do. All out of hydrocarbons in the short term. Filthy stuff and to be honest Mongolia with its annual six months of static high pressure due Siberian high would have very high levels of pollution if the stuff was burnt on the continent.