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Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

dspp
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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#236244

Postby dspp » July 12th, 2019, 4:11 pm



This could be a perfect sandpit for our resident shorter :)

- dspp

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#236259

Postby spasmodicus » July 12th, 2019, 5:28 pm

This could be a perfect sandpit for our resident shorter


....but perchance he burned his fingers when HUR jumped 17% yesterday?

this well looks more like a straight punt on the 3.30 at Kempton Park, at maybe about 3:1. I've got a modest stake on it, more than I ever bet on a gee-gee, I have to say. Only trouble is, unlike a 4 horse accumulator, the second well is more likely to be a dud if the first one was.

S

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#236330

Postby dspp » July 12th, 2019, 10:46 pm

spasmodicus wrote:
This could be a perfect sandpit for our resident shorter


....but perchance he burned his fingers when HUR jumped 17% yesterday?

this well looks more like a straight punt on the 3.30 at Kempton Park, at maybe about 3:1. I've got a modest stake on it, more than I ever bet on a gee-gee, I have to say. Only trouble is, unlike a 4 horse accumulator, the second well is more likely to be a dud if the first one was.

S


Yes, I'm not sure he is used to real fundamental analysis. The sort that comes out of rocks & etc.

Personally I am not in this one because of the insider risks as well as other issues.

- dspp

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#237703

Postby Proselenes » July 19th, 2019, 8:37 am

Image

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#238137

Postby Proselenes » July 21st, 2019, 3:00 am

Just for a bit of fun and note that any mechanical failure at all will totally delay everything....................


Based on other DQE drilling a rough schedule is averaging 130 meters per day (with no mechanical issues) over a well to TD.

Heron-1 is 3050 meters and so divided by 130m/d would give 24 days to get to TD, prior to initial wireline logging and then initial RNS at say day 30.

Red Deer-1 is 2106 meters and so divided by 130m/d would give 16 days to get to TD, prior to initial wireline logging and then initial RNS at say day 22.


Entering of the Primary Target at Heron-1 should be around 2800m onwards which would equate to day 22 of the drilling. Also secondary targets earlier.

Entering of the Primary Target at Red Deer-1 should be around 1650m onwards which would equate to day 13 of the drilling. Also secondary targets earlier.


Heron-1 spud was 19th July.

Volume spike time - anytime after 10th August. Results RNS after wireline anytime from 19th August.


Red Deer-1 spud ETD 29th July.

Volume spike time - anytime after 11th August. Results RNS after wireline anytime from 19th August.


So, from Monday 12th of August, if we get crazy volume spikes we will not know if its Heron or Red Deer or both.

Enjoy the ride.

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#238250

Postby dspp » July 21st, 2019, 4:27 pm

Proselenes wrote:So, from Monday 12th of August, if we get crazy volume spikes we will not know if its Heron or Red Deer or both.

Enjoy the ride.


Pro,
There shouldn't be any volume spikes at all. But there is a good deal of that sort of thing going on here, which is precisely why I am not involved. But it is interesting to watch from the sidelines.
regards,
dspp

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#240455

Postby Proselenes » July 30th, 2019, 12:32 pm

Share price moving up now. Maybe too early for Heron-1 news, however the Chinese said they could drill and log it in 19 days.....however, I think they need quite a bit longer than that. My expectation is for them to be in the target zone around 12th August........but who knows.

Will Red Deer-1 spud this week as well ?

.

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#244146

Postby Proselenes » August 14th, 2019, 7:53 am

Quicker than was expected....with Heron-1 resolution....off we go.

https://www.investegate.co.uk/petro-mat ... 34569950I/

Heron-1 and Red Deer-1 both drilling ahead.........

50p a share of oil potential to be found :)

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#244225

Postby Proselenes » August 14th, 2019, 1:14 pm

Mongolian oil is very valuable. The PSC terms are rather wonderful......the oil has very high value in real terms to the producing company.

In case MATD do strike oil - then these are the PSC terms for Block XX


Petroleum Sharing Contract (PSC)

Royalty: Block XX 5%


Low cost in comparison to other jurisdictions
----------------------------------------------------------------
Corporate tax: 0%

Speaks for itself, designed to encourage foreign investment
----------------------------------------------------------------
Cost recovery mechanism: Exploration, development and operations costs recoverable against oil production with annual cap of 40% of total gross revenue. The remainder is carried over. Transportation costs are recoverable

This really needs shouting about!! Costs of Exploration, Development, Operations and Transport can be recovered in the success case. The implication for this is that on any success, when coming to arrange finance, this puts the company in a very strong position. This is something quite special
----------------------------------------------------------------
Contractor Profit oil split: Block XX 45% to 60%

This highlights just how aligned the Mongolian government is with the success case. Implications are to enable a significant cash flow from production.

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Re: Petro Matad - Fully funded 6 well campaign for H2 2018/H1 2019

#244402

Postby Proselenes » August 15th, 2019, 3:01 am

My estimates now :

Red Deer-1 well will be into Secondary target during week commencing 19th August.

Red Deer-1 well will be into Primary target during week commencing 26th August.

Red Deer-1 well results and RNS week commencing 2nd Sept.

Heron-1 well into Primary target week commencing 9th Sept.

Heron-1 well results and RNS week commencing 16th Sept.

Gazelle-1 spud October.


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