Pro_S2009
19 Oct 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Gazelle is not over yet…they have the money to do a sidetrack or drill in another location at Gazelle. Thats because Block V drill has been put on the back burner. The question now for me is : Is Gazelle-1 on the edge of the pinch out and so its a material discovery which may be commercial (which is backed up by them running production casing and suspending the well). Will Heron-1 be commercial ? If it is then its a company maker for MATD and moves them straight into Test Production phase of commercial development - meaning they can immediately install a pump, produce and sell the oil. What size is Heron ? 25 MMBO Pmean ? Thats 18p a share value. Is it 40 MMBO due to the higher location of the reservoir and also the better porosity ? Thats worth 32p a share… Will the company focus, in the event Gazelle post well evaluation studies prove its a significant size - get Heron on production by year end and then move Gazelle into production early next year (via a sidetrack or new well) - giving them 2 producing areas and allowing higher levels of bank debt finance, and then look later next year at drilling Block V. If Gazelle is proven to be significant (and nobody has said its not so far - the company is running casing to prepare for the future) then what size is it ? There are more questions, lots more…but the main focus now is the Heron-1 flow rates, once thats done I think they will then later be giving positive news on Gazelle-1 post well evaluation studies…
Pro_S2009
17 Oct 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Edison Flash Note out. edisongroup.com Petro-Matad-Gazelle-1-results-2.pdf 164.82 KB .
Pro_S2009
11 Oct 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 20% rise…wonder if there is a leak. If there is any leak it will not be Gazelle. Gazelle will undergo the same process as Heron…there will be news on oil shows or not and that the well has to be tested… with the same testing rig currently at Heron. Therefore, as with Heron, any declaration of commerciality can only come after flow testing with the testing rig. If there has been any leak…it will be a leak of flow testing news…perhaps the first zone tested has flowed well…and thats now leaking. Each zone will be tested on its own in isolation of the other zones in the well to be tested. Results of flow testing will be released when all zones are tested…so it may be some time away yet ?
Pro_S2009
10 Oct 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Just a reminder what is at stake here with Heron-1. Size estimate on Pmean pre drill is 25 MMBO. Worth 18p a share, and would be 9p a share post any 50% farm out to PetroChina where PetroChina then pay for the development wells. MATD have 3 pumps in stock, so if the well flows they can simply put a pump in place and start production very very soon, the CEO hoped maybe before year end, although Q1 looks more likely, but who knows. The reservoir in this southerly location has better permeability and better porosity than pre drill estimates. This means that more oil and easier to flow. Therefore potentially the 25MMBO might be higher. The reservoir was also encountered higher than expected, this means that there should be a greater area as there will be more before the water/oil line is hit…bigger area means more oil as well. Potentially Heron maybe 40MMBO…which would be 29p a share to MATD, or 14.5p a share post a 50% farm out to PetroChina. Thats ignoring Gazelle where drilling results are due end of October. So the upside is significant…if Heron-1 flows oil. And the flow tests results are due before the end of October all being well.
Pro_S2009
03 Oct 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Testing at Heron-1 commences !!! [link] .
Pro_S2009
28 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Edison update on MATD: edisongroup.com Petro-Matad-Oil-established-in-Block-XX.pdf 829.57 KB .
fynne
19 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 … not been very lucky in there choice of exploration wells! Thankfully Heron 1 as an appraisal well has hit oil. . I’d be happy with 200 bopd and a link into PetroChina’s facilities, … it would create income and stability for the future. Gazelle also has a higher chance of success so despite this setback I’m expecting more positive news flow … 10p is 100% gain from current price.
Pro_S2009
19 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Edison note is in the link below: edisongroup.com Petro-Matad-Mixed-results-in-Block-XX-1.pdf 156.98 KB You will notice that Net Cash at end of Year 2020 (Dec 31st 2020) is forecast to be 1.5m US$ This is still based upon them drilling one well in Block V in 2020 and then zero production income, which is the current situation pending flow tests of Heron-1 and it being confirmed commercial. Once that is done then the forecasts will be changed to then take into account revenue in 2020 from Heron. The situation with forecasting now all hangs on Heron-1 proving commercial, from there then forecasts for 2020 will change dramatically. PetroChina farm in has to be taken in then, and production income etc. etc. etc. etc… the outlook and status of MATD will be completely different once they have production. We all now await the Heron-1 flow testing results - from there - things should fundamentally change for MATD as they more from pure exploration into being a producer of oil getting revenues from oil sales from Q1 2020 onwards. .
Pro_S2009
17 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Malcy thinking the same as me… Malcy's Blog – 17 Sep 19 Malcy's Blog: Oil price, Petro Matad, Block Energy Malcy's Blog: Malcy's reaction to oil sector news as it arises. Oil price, Petro Matad, Block Energy Petro Matad Petro Matad will never go down in history as the luckiest company around and the fact that the Red Deer-1 well has come in dry rather proves that. However, the market has already forgotten the success of last week and that Red Deer was always a much higher risk prospect. Over at Heron-1 the casing is completed and the well is temporarily suspended awaiting the testing kit to arrive. This looks like being in the next fortnight and testing is scheduled to begin in early October and completed within the month. Meanwhile the rig has moved to the Gazelle-1 well site and will spud before the end of September. MATD has fallen over 25% this morning back to the recent lows although still well above those of January. Although Red Deer is a disappointment CEO Mike Buck is right to remind investors that it was a higher risk play and I would add that if all goes well at Heron the company could arguably be selling their own crude early next year, now that would be something to write home about…
Pro_S2009
17 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 So what happens next ? IMO: Gazelle-1 spuds end of Sept. Heron-1 testing starts early October. Heron-1 exceeds expectations on flow rate. Heron-1 is far bigger than Pmean estimates thanks to the structure being higher up and also better porosity. Heron-1 could be up to 40 MMBO recoverable. Share price is around 9p levels. Gazelle-1 strikes oil and reservoir is better than expected. Share price over 10p levels. Heron at 40 MMBO is worth 32p a share, Petro China farm in to Heron by agreeing to fund a bucket load of development and appraisal wells in return for 50% share. Heron is then worth 16p a share to MATD but no development costs. Share price now around 12p to 14p… Fund raising at 12p a share to drill the Raptors in 2020 and also some admin costs - MATD say this is the last one as now a production company and generating all their own cash from oil sales from Heron. And now its 2020…time to go off to the Raptors…
Pro_S2009
17 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Red Deer-1 results out. Nothing there…so thats not the result we all wished for, but it was a low CoS exploration well and so not unexpected. On to Heron-1 flow testing next and Gazelle-1 spud.
Pro_S2009
16 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Well, that Friday buying spree might also mean an RNS this morning about Red Deer and having some oil in it. Again, Mike would not commit to anything until it has been flow tested by the testing rig if they have oil shows and net oil pay. But to have some oil shows at Red Deer would be massive massive news for MATD. I was looking at SOCO news releases…2 of their commercial wells flow tested at 70 bopd after frac and the other at 120 bopd. So whilst the expectation is 200 bopd for any well after its been fracked, its still very commercial at much lower rates. And hopefully, with better reservoir the further south and west you go, the Heron-1 well might be able to beat those SOCO figures, and by some margin, fingers crossed. Anyway, Heron-1 news on flow testing is for later…this week is about any oil or not at Red Deer-1 location. [link] …INDIVIDUAL WELL RESULTS Well 19-20 was drilled to a total depth (“TDâ€) of 2,410 meters encountering good oil shows in the Tsagaantsav formation. The well was completed in this formation and fracture stimulated, which resulted in an initial production rate of approximately 70 barrels of oil per day (“BOPDâ€). Well 19-21 encountered good oil shows in the Zuunbayan and the Tsagaantsav while drilling to a TD of 2,625 meters. The well was completed in the Zuunbayan formation with an initial production rate of approximately 120 BOPD… Ed Story, President and Chief Executive of SOCO, commented: “The success of our exploratory drilling program in Mongolia this year increases our confidence in the reserve potential of the Tamtsag Basin. We will integrate the technical data from this year’s drilling program to improve our understanding of the highly prospective but complex area.†…
Pro_S2009
14 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 I believe the assumed flow rate after fracture stimulation for any Block XX North, Block XX South and Block V well is 200 bopd. So with 200 bopd after fracture stimulation as the target, its is going to be very interesting to see what flow rates Heron-1 can do naturally…and then if needed, after a fracture stimulation. All being well we will know before the end of September.
Pro_S2009
13 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 At this juncture, if I compare what SOCO had in Mongolia (SOCO sold the producing field to PetroChina who currently own it) - it seems we have better reservoir than SOCO found. Heron-1 has found more gross potential oil pay/net oil pay than a lot of the SOCO producing wells found. Read through the SOCO news releases…and expect similar from MATD in the coming months and years as they take Block XX into becoming the next producing field in Mongolia with the Heron discovery. socointernational.com Successful Drilling Results on First Two Wells in Mongolian Successful Drilling Results on First Two Wells in Mongolian socointernational.com Upgrade of Mongolia Project Upgrade of Mongolia Project socointernational.com Mongolia Operations Update Mongolia Operations Update socointernational.com Mongolia Operations Update Mongolia Operations Update socointernational.com Mongolia operations result in new oil field Mongolia operations result in new oil field Enjoy…given what SOCO found, what MATD have found with Heron-1 - its looking very rosy for Heron !!!
Pro_S2009
13 Sep 2019
Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Lots of news to come. Heron-1 flow test results should be before end of September. Red Deer-1 drilling results next week. Red Deer-1 flow test (if oil found) likely mid October. Gazelle-1 spud before end of September Gazelle-1 drill results before end of October.
