The Lemon Fool

Weather has been excellent really.

https://www.accuweather.com/en/mn/bayan ... =11/1/2018


This coming week they should enter the Main Target Zone, if not already. Fingers crossed something good happens, but as always, be prepared for the duster, its the most likely outcome.

.

Wild Horse-1 is a duster as per todays RNS.

Got to wait for the drills in 2019 now (all of which are fully funded based on the current plans for 4 drills.


If you take the content of the RNS it looks like :

Next up will be the three low cost Block XX drills. These are all in effect appraisal and have very high chance of success. Each and every one of them is worth more than the current share price.

Drill these three first seems to be the plan, then I think a fund raising at a much higher price.

Fund raising will be for drilling in Block V where they now have (based on the SL-1 drill and latest seismic) three very large 4 way dip prospects. The fund raising will therefore pave the way for a 2 or 3 well drill campaign in Block 5. This is when the rig will drill Fox-1 and then one or two other new prospects they are working on.

So thats how I see it panning out.

1st Drill Block XX (already funded - no need for fund raise)
2nd Drill Block XX (already funded - no need for fund raise)
Fund raising based on success in Block XX and new leads.
3rd Drill Block XX (already funded - no need for fund raise)
1st Drill Block V (Fox-1) (already funded - no need for fund raise)
2nd Drill Block V (new prospect in the south of the license) Fund raise required.
3rd Drill Block V (new prospect in the south of the license) Fund raise required.

Thank you Prosolenes. Just goes to show how risk small exploration companies are, even in the most benign of locations.

Full RNs available here is worth reading imho : https://www.proactiveinvestors.co.uk/LO ... 7_13879407

Fortunately I had only cookie jar quantities in this, not beer money quantities. That's because when HUR went to 40p I switched some across

regards, dspp

I purchased another chunk of HUR yesterday as the price was 40p.

Got another load of JOG too as that was below 180p again.

Both bargain prices.

RNS ops update out today
http://irpages2.equitystory.com/website ... e=28487347

and 2019 investor presentation
https://www.petromatadgroup.com/wp-cont ... -Matad.pdf

(personally when HUR went down to 40p I sold my small MATD and added extra HUR)

- dspp

RNS ops update out today

http://irpages2.equitystory.com/website ... e=28727022

Highlights

- 2019 four well drilling campaign: Heron, Gazelle, Red Deer (all Block XX) and a further exploration well in Block V, or appraisal of a Block XX discovery

- Heron

o Heron 1 well planned as first well of 2019 campaign, with spudding targeted for Q2 2019

o More than 50% resource uplift at Heron Prospect to 25 MMbo from 16 MMbo following mapping of reprocessed 2D seismic

o Analysis indicates the Heron Prospect is the southerly extension of a proven oil-bearing structure drilled in Petro China's adjacent Block XIX

- Gazelle high-graded to second Block XX well as new mapping shows it to be directly up dip of a Petro China discovery well on the same migration path

- Red Deer Prospect location remains unchanged, targeting 48 MMbo of mean prospective recoverable resource

- Heron, Gazelle and Red Deer environmental permits for drilling approved and CSR teams mobilised to well sites

- Regulatory approval received for two-rig strategy for limited additional cost to allow for simultaneous drilling of prospects - negotiations with rig contractors nearing finalisation

- Applications for Block IV and V PSCs being prepared for two-year extensions, with submission expected shortly

- Ongoing analysis of Snow Leopard 1 well, Block V, has significantly enhanced the prospectivity of the Block and in particular the Raptor trend


etc ...... dspp

(personally I remain out of this, but it is an interesting one to watch)

2019 Drilling :

1/ Heron-1 due to spud early to mid July 2019 - 30 to 40 days to drill - Block 20
2/ Gazelle-1 due to spud late August 2019 - 25 to 35 days to drill - Block 20
3/ Red Deer 1 due to spud mid to late July 2019 - 25 to 35 days to drill- Block 20

4th well - To Be Decided Either in Block 5 (Raptors) or another in Block 20

.

Petro Matad @Petro_Matad

Site construction is underway at #Heron1 and is expected to be completed within 10 days #MATD

I believe Heron COS is 75% and Red Deer COS was over 40%.

Red Deer is a basin opening play, if that comes in thats worth a load plus a lot more.

Heron 25 MMBO circa 18p a share
Red Deer-1 48 MMBO circa 32p a share (plus loads of follow on leads)
Gazelle 13 MMBO circa 8.5p a share

Drill 4.......depending on where it is, if Block V then its a biggie, 200p a share potential, if its Block XX again then maybe another 20p to 30p a share size drill.

Both Heron and Red Deer one due to be at TD at the same time, mid August.

Update:

https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/operational-update/201906260700044041D/


.

The key bits in the RNS are :

· The Company is on track to spud the Heron 1 during July 2019, using DQE's rig 40105. The Gazelle 1 well will follow immediately after Heron 1 operations, allowing for a short rig move

· Red Deer 1 is expected to spud before the end of July 2019, using Daton's rig DXZ1

- dspp

New Corporate Presentation out:

https://www.petromatadgroup.com/wp-content/uploads/2019/06/Corporate-Presentation-28_06_19-Petro-Matad.pdf

.

Mike Buck CEO of MATD interview:

HTTPS://www.voxmarkets.co.uk/articles/petro-matad-riverfort-global-opportunities-and-alan-green-on-4-small-caps-25ab3d9/


.

https://www.malcysblog.com/2019/07/oil-price-eco-atlantic-gulf-keystone-igas-petro-matad-and-finally/


.

https://www.edisongroup.com/wp-content/uploads/2019/07/PetroMatad-2019-Mongolia-drilling-campaign-kick-off.pdf


.