Petro Matad Live Discussion

Pro_S2009 29 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Interview with one of the MATD Exploration Geologists. Bloomberg TV Mongolia - Хамгийн түрүүнд олж мэд Д.Буян-Аривжих: "Цэн тогоруу" талбайн нөөцийг урьдчилсан байдлаар XII сард... ... Sadly, all in Mongolian. However the key points are, as posted yesterday. No Water Cut at Heron-1 so Heron will be bigger than the current 25 MMBO recoverable. Gazelle still in play, looking for thick net pay elsewhere as current well hit the fringe as it was secondary target of Gazelle-1 - now they know the Strat Trap Play is a primary target.

Pro_S2009 28 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Very good interview with Mike which confirms all what was suspected. Heron-1 exploitation license application in process, we will see production in Q1 2020. Incremental well count using FCF (eg no plans for any placing, generate the cash, get another well done on Heron - basic option pending band debt or farm out). Confirms enough cash left for a cheap drill (2nd Heron well) Heron size upgrades possible. Gazelle - potential for thicker net pay meaning Gazelle may be a commercial size discovery. South Tamtsag Basin (Erdenetsagaan area) potential for sone very material sized prospects now following Gazelle strat trap play prove. No plans as yet for Phoenix or Raptor in 2020 however very interesting that they might consider using a truck mounted rig to drill bore holes into them in Block V, or at least VelociRaptor in Block V. The bore hole approach has been done before - very cheap way of proving oil or not. I like that, thinking outside the box. Certainly looks very exciting and Mike has intimated quite clearly they have the cash to move forward in a steady way, getting Block XX into production and incrementally increasing production and therefore incrementally increasing Free Cash Flow to then reinvest.

Pro_S2009 28 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Snippets coming out in the Mongolian media now after interviews with Mongolian staff. Expecting Heron to be much larger that 25 MMBO as no water cut found. Gazelle unable to test now due to the enforced delays at Heron-1 with the permit, they expect to flow oil to surface from the 3.2M section and believe that as this is on the edge, there is much thicker pay to be found at a different location. quote. According to estimates from the drill hole, 25 million barrels of oil can be extracted from this deposit. However, this number may increase due to the fact that no water has been released from this well. They are carrying out now a number of jobs, including exploration, resource estimation, development plans, and transfer of land use. Due to the barriers in the company’s work, the Chinese drilling company paid for the idle and lost time. If you worked on the plan, you could experiment with the “Gazelle” borehole. Interestingly, the oil in “Gazelle” was drilled 5 km east of the Heron. There was a period of 3.2 meters thick, which could contain oils that could flow into the bore. If it is drilled to the top of the embankment, it is more likely to have a thicker zone.

Pro_S2009 28 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 At this juncture its worth listening to this again : Vox Markets Petro Matad, Riverfort Global Opportunities and Alan Green on 4 small caps - Vox... Real time AIM Market investment news, RNS feeds, watchlists & expert insight from Fund Managers, CEO’s & Analysts. Vox Markets the definitive source for AIM Market news, insight & analysis. New interviews will be done this week/next week - ahead of the AGM. .

Pro_S2009 26 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 The derampers (and those who missed out or badly called MATD wrongly - like OilManJim) are going to ignore production, they are going to suggest this is like offshore and will take billions to develop - LOL, they are going to say no cashflow in 2020 - total horseshite - , they are going to lie it will be 2099 before first production - basically they are just going to spout lots of nonsense because either they are just jealous toads who missed out, or they want to buy in cheap so want to push the price down by getting people to sell. Anyone talking of the need for a placing - utter nonsense. They cancelled Velociraptor so they are fully funded in 2020 and can get Heron on to production in Q1. If they drill no more wildcats they can get Heron on production and then pursue bank debt to develop Heron - which means no placings - which means they are in a strong position to negotiate with PetroChina that they pay a big cost to farm in. EG…they are looking after shareholders interests. One would not rule out a fund raise when the share price is much higher and Heron is flowing well and cash is piling into the bank account, but it will not be below the 10p per share level the Directors purchased bucket loads of shares at imo. At that stage they will have all new leads and prospects on Block XX, the Raptors on Block V, cash flow coming in from Heron as its in production, farm out done - and so with that strong position, then its time to raise a little to do some exploration drills.

Pro_S2009 26 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 As for production. Firstly, the Mongolian PSC terms are one of the best in the world. You can even reclaim the cost of transport of the oil when you sell it… Heron-1 production requires very little. The plan is either to truck just up the road to the PetroChina facility and offload it, or truck just over the border and sell directly. PetroChina have expressed a desire to utilise their spare capacity, so its up to them to make a good offer to MATD (low cost) or MATD can truck across the border. Whatever, the cost of transport MATD can reclaim under the PSC terms. I would expect production flows from Q1. Very little further cost to MATD now for Heron-1 production as production will be trucked from the well head to sale. First up they need to do the reservoir work and submit all the into to the government to get the Exploitation License awarded. This allows them to go straight on to Test Production (in effect full production but classed as Test for the sake of the paperwork). So with production now just months away - which opens the bank debt route, and discussions to go on with PetroChina about farm in once the exploitation licenses is approved…exciting times. Ahead we have : Next week and the week after - interviews and PR events. Week after that AGM and further update. Heron-1 testing completed, maybe update. Exploitation award. Heron update. Gazelle update. Block XX update, new leads and prospects (expecting some big things from Erdenetsagaan area following Gazelle proving the Strat Trap Play) Farm in discussions. Production planning Loads going on.

fynne 25 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Pro_S2009: So short term down, long term big upside - so Gazelle is not over, and its why its been cased and suspended. I believe that Heron must shown greater potential during drilling and certainly before official testing was completed. The switch to devoting time, effort and money into Heron was a factor in putting Gazelle on hold. With Heron proving to be a quality discovery the focus should be clearly on getting it into production… (production = income!!) I have no doubts Gazelle will be reviewed in the near future. Just bad timing in that Heron came in first with such good results.

Pro_S2009 25 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 I dont think Gazelle was bad news only, but it could be construed as such. I would class it more as “surprising”. Surprise downside in that the main target was not there, surprise upside as it confirmed that the secondary target was good, that the upper area is very much mature for oil generation (proven by NGL wet gas and a 3M net oil pay zone) and that this proves the stratigraphic trap play type of which there are a number of very big ones in Block XX. So short term down, long term big upside - so Gazelle is not over, and its why its been cased and suspended. Proven mature NGL and oil being generated in the shale. Proven good reservoir sands in the strat pinch out. Yes Gazelle was sub-optimal location for the secondary target as its aim was the primary, but what if now…for an optimal located well on Gazelle ? What I would say is that Mongolia is not a simple geologic area and with very limited number of wells drilled, its in its infancy. The more wells drilled, the more well data, the more geologic data the more it will progress and the easier it will be to find more oil. How many dusters have been drilled in the North Sea - many many. Its now mature with good understanding but still you will see duster after duster drilled by the big players. Geologically you have to test theories against data, refine the data, do it again, refine the data, do it again and over and over and success will follow. MATD in April were still guessing - Three wells later MATD’s knowledge is vastly improved - they know that Gazelle secondary strat trap play is proven. They know Heron is proven. They know primary targets at Red Deer and Gazelle are not proven. They have 3 wells of data now to reinterpret into the complete Block. This will lead to upgrades, new prospects, bigger prospects and all which will have a much higher CoS now. I think Block XX will be the focus of 2020 now - there is potentially another 600 MMBO of recoverable oil to be discovered there - so given the impressive data they now have - you exploit that. Block V they know oil is there, but only have 1 real well of data. I believe thats why they wanted to drill a quick and cheap well there to test the Raptor theory. Block V is very much at the first stages…might take 3 more dusters to find oil or the Raptors might deliver oil next drill. But its still much higher risk than simply now focusing on Block XX and unlocking that potential. My guess is that they may try to do Velociraptor late in 2020 once they have revenue coming in from Heron. This is why its no surprise to me to see them now openly saying they will reprocess and reevaluate all of Block XX. Gazelle has opened up new proven play types to be seriously looked into - large prospects around Erdenetsagaan. Heron could be 3 times bigger than the current estimate of 25 MMBO recoverable. So I believe the immediate focus is now Block XX and maybe one well on Block V late in 2020 once they have good revenue coming in from Block XX and any farm out is concluded. The company is in a very strong position now, much stronger than they were back in April. 10p a share for what they have now is not a high expectation, and with Mike soon to be out telling his story to the city and the institutions we should see some strong gains ahead and people begin to understand what a very good position MATD have now.

Pro_S2009 24 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019

Pro_S2009 24 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Lets play a game called make the bird fly. Pre-drill estimate Heron 165 MMBO OIP with 15% RF giving 25MMBO recoverable. So why is Mike so excited and delirious ? Net Pay is bigger than expected as per old RNS - TICK Porosity is way better than expected - TICK Permeability is way better than expected - TICK Structure 5 meters higher than pre-drill estimate, so its bigger - TICK Flow rates (not stimulated and natural flow - wow factor) - TICK 165MMBO plus 20% for better net pay = +33MMBO 165MMBO plus 15% for better porosity = +24 MMBO 165MMBO plus 10% as bigger area = +16.5 MMBO So now Heron might well be 165+33+24+16.5 = 238.5MMBO OIP Now…lets say the RF is not 15% but given the very light oil and the high permeability its more like 30%… Now means Heron is looking at being 71.5 MMBO recoverable. Which is currently 100% owned. Now you might see why Mike is pretty damn pleased and beaming from ear to ear.

fynne 24 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Excellent results on Heron !! Quality oil with good natural flow rates. Also the possibility to extend or increase production rates in the future with stimulation and pump. With all the attention directed to Heron I was hopeful things were good. … moving quickly to an exploration licence and production is the start of things to come.

Pro_S2009 24 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Outstanding result…exceptional. [link] .

Pro_S2009 20 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 I was excited with the Gazelle news in terms of the potential upside in the Southern Tamtsag basin which Mike Buck alluded to. If you look in the picture below…Heron is the part in Block XX identified as Tolson Uul. There are 2 large, very large prospects at the Southern End of the Tamtsag Basin, these are identified in the pic as Erdenetsagaan and East Erdenetsagaan. If these are now proven plays and derisked with Gazelle results - which Mike alludes to with the word “material” - you can see from their size, compared to Heron size in Block XX that these are not just material, they are potentially larger that the Raptors. For me I believe we will see the Raptors become a low priority and the 2020 priority apart from, all being well, production from Heron-1, farming out Heron and developing Heron with the farm out and bank debt… drilling most likely Erdenetsagaan… Depending on how Heron-1 flows, how much oil they get out as quick as possible, the terms of the farm out of Heron etc… maybe just 2 explo wells in 2020… Erdenetsagaan and the cheapest shallowest Raptor prospect.

fynne 19 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Gazelle was not the total disaster the drop in share price suggested imo The main target was dry but they did hit a tight pay zone. Clearly as the focus is all on Heron-1 now early indications must suggest it is worth the effort. Getting this well into production would be a big boost for MATD and the share price Gazelle can be revisited at any time

Pro_S2009 19 Oct 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 This was the scoping economics for Blocks IV, V and XX done some time ago (oil was 90US$ then). As can be seen, the company expects flow rates of between 100bopd to 200bopd per production well on any of the blocks. Link below, click on it to open the pic. [link] .