Petro Matad Live Discussion

Pro_S2009 12 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Interview with CEO Mike Buck today : Value the Markets – 12 Sep 19 ValueTheMarkets Podcast 020 - with Mike Buck, CEO of Petro Matad (MATD) Today’s guest is Mike Buck, CEO of Petro Matad (LSE:MATD). The company is focussed on oil exploration in Mongolia and is targeting 3 Production Sharing Contract (PSC) Blocks ((IV, V, and XX) in which it holds a 100% working interest. Blocks IV and V... …

Pro_S2009 10 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 PetroChina wells produce on average at up to 200 bopd. These are all pumped wells. It will be interesting to see the flow rates from Heron-1, will they match the 200 bopd of the PetroChina wells ? or will it be better than that given the better porosity and permeability ?

Pro_S2009 10 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 From 13 minutes 10 seconds in for MATD. Total Market Solutions – 10 Sep 19 Malcy Talks Oil & Gas XIV - Total Market Solutions Malcy’s Oil & Gas Review Doc Holiday caught up with independent Oil analyst Malcolm Graham-Wood once again to discuss all the latest Junior Oil & Gas News, after a number of high impact announcements on Monday the duo addressed the... Read More › . .

Pro_S2009 10 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 If you take the 2 key upsides from what Mike has said : Heron-1 reservoir appears to have better porosity than pre-drill estimates. Heron-1 pay zones were encountered 5 meters shallower than pre-drill estimates. Better porosity means the whole structure can contain more oil - higher porosity means more oil inside. 5 meters shallower means over the structure there is more oil bearing reservoir potential at the boundaries. Those 2 key things mean that Heron may well be over 40 MMBO recoverable in size, not the Pmean estimate pre-drill of 25 MMBO. The other key thing was permeability was better than expected, that should mean flow is not an issue and the reservoir will be able to produce at higher rates than the PetroChina wells to the North. We know that reservoir properties get better as you go West…looks like they also get better as you go South. Gazelle is further West, and Red Deer-1 is South-West of Heron.

Pro_S2009 09 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Mike seems confident, going for Velociraptor as the 4th well…the biggie in Block V. …He revealed the fourth and final well of the campaign will target a prospect dubbed Velociraptor - named after a dinosaur in the Jurassic Park movies - in its Block V in the west of the country that has prospective resource potential of as much as 200 million barrels… Upstream Online | Latest oil and gas news – 9 Sep 19 Petro Matad in Mongolia oil strike London-listed explorer hoping for commercial flows from discovery amid talks with PetroChina for possible early development Petro Matad in Mongolia oil strike London-listed explorer hoping for commercial flows from discovery amid talks with PetroChina for possible early development Steve Marshall 9 Sep 2019 07:29 GMT Updated 9 Sep 2019 144 GMT Share: Petro Matad has hit oil pay with the Heron-1 exploration well sunk on its Block XX in eastern Mongolia. The probe, which was earlier stalled by land use issues after being spudded in July this year, encountered a 77-metre gross interval of potential oil reservoir after being drilled to a total depth of 2960 metres into the primary target in the Lower Tsagaantsav reservoir, the London-listed company said in a statement. It stated the reservoir interval, which included both oil and gas shows, was “very similar” to productive reservoirs found in wells at the T19-46 oilfield immediately to the north in PetroChina-operated Block XIX in the landlocked East Asian country. The well, which was drilled as an appraisal to the latter oilfield, had a pre-drill resource estimate of 25 million barrels of mean prospective recoverable resources. Casing of the well is now being carried out ahead of a testing effort that is likely to require a further rig to be brought in. Petro Matad chief executive Mike Buck said the test is aimed at delivering commercial oil flow rates so the company can move into the exploitation phase at the discovery once its exploration licence on the tract expires in July 2020. “We have already been in dialogue with PetroChina with a view to using its existing field infrastructure to develop the find so that we can move into early production, contingent on commercial flows,” Buck told Upstream. He added that commercialising the discovery would enable it to retain the block so that it could continue to appraise further possible finds on the acreage. The well was drilled by DQE International’s rig 40105 that will now suspend it and then be mobilised to drill the Gazelle-1 hole in the same block, one of three Mongolia tracts wholly owned and operated by Petro Matad. The Gazelle prospect lies roughly five kilometres west of Heron-1 and has been estimated to hold mean recoverable prospective resource potential of 13 million barrels. Petro Matad aims to spud the Gazelle-1 well by the end of September targeting a structure that is on trend with a pair of oilfields operated by PetroChina to the north, with a 50% to 65% chance of success for the probe, according to Buck. The company is meantime also drilling the Red Deer-1 well in the southern part of the block that was spudded last month and has mean recoverable prospective resource potential of 48 million barrels of oil. The well is being drilled using rig DXZ1 supplied by Daton Petroleum Engineering and Oilfield Service but has been delayed due to equipment-related issues, with drilling results due in mid-September. Buck said progress with the well has been in line with expectations and “there have been no surprises” in terms of the stratigraphy of the targeted structure, adding that this was “positive”. “We thought we understood the geology here and that has been borne out,” he said. He revealed the fourth and final well of the campaign will target a prospect dubbed Velociraptor - named after a dinosaur in the Jurassic Park movies - in its Block V in the west of the country that has prospective resource potential of as much as 200 million barrels. The company will thus be returning to the block where it came up dry with the Snow Leopard-1 well drilled last year, although Buck said this probe also demonstrated there was a working petroleum system in the tract. He said there was additional prospectivity of around 200 million barrels on either side of the prospect that could potentially double resources in the event of a discovery. “The block has larger high-impact prospects that we hope can build on what we have going on in the east where we hope to generate early production revenue from possible discoveries,” he said. However, the drilling campaign could be extended with further wells as Petro Matad would be keen to use the rig to drill more than one prospect in the east, he added. He admitted though “we are still scratching our heads” over prospectivity in the company’s Block IV in the west where the Wild Horse-1 well drilled last year came up dry but showed source rocks exist. Petro Matad has recently gained a two-year extension of the exploration period for blocks IV and V to July 2021.

Pro_S2009 09 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Malcy's Blog – 9 Sep 19 Malcy's Blog: Oil price, Hurricane, Petro Matad, IOG, Reabold, Touchstone, Range... Malcy's Blog: Malcy's reaction to oil sector news as it arises. Oil price, Hurricane, Petro Matad, IOG, Reabold, Touchstone, Range - And finally... Petro Matad The company announces that at Heron-1 TD of 2,60m has been reached with gross reservoir intervals appearing to be very similar to the productive reservoirs found immediately to the north in block XIX. Casing is now underway and discussions have taken place with the testing contractor to determine how quickly kit can be mobilised to the location. The timescale should be within one month and hopefully a great deal less, as the company are keen to get a flow rate and to get stimulation of the well underway. The primary target was encountered at 2,803m some five metres shallower than expected which I am told is a good sign as was the predominantly sandstone interbedded with shales and siltstones found slightly deeper. The company are ‘encouraged and the well is better than expected’ and in my call with CEO Mike Buck this morning he was clearly delighted, particularly with the porosity and permeability in the formation a pleasant surprise. Petro Matad is only up 5% today which is a touch parsimonious but to be fair puts it up at or near recent peaks and the market knows that they are also drilling the Red Deer well at the moment. Recent speculation about that well is just that, after some slight delays due to kit on site the bit is only ‘close to objective depth’ but should reach TD in mid September before logging. The rig will shortly move off this site and move to drill the Gazelle-1 well which it should spud in late September which means that there is still plenty of excitement due for the company. Should Heron go on and be the success that it seems they will be able to kick on with plans to make the next steps of the operation to start producing commercial hydrocarbons from Mongolia, which they thoroughly deserve, after all some of us have been waiting a long time for this moment…

fynne 09 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Good news at last … casing the well for testing so they seem confident it will be a productive well. One down two to go

Pro_S2009 09 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Time to start testing…better than expected results. MATD first oil discovery. [link] .

Pro_S2009 07 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 To show how close it is…look at the 3 images below which show just how close it is to the PetroChina 19-46-3 well… 1/ [link] Overview Map 2/ [link] Satellite image 3/ [link] Close up .

Pro_S2009 07 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Well worth a watch ahead of Heron-1 news this coming week: .

Pro_S2009 07 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 I am expecting news Wednesday or Thursday on Heron-1

fynne 06 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 “The Company expects to be in a position to announce the results of the drilling and logging of the well during the week commencing 9 September 2019.“ From as recently as the 3rd September so they must be close if not already at TD. They really need a result on this one but as Heron 1 is an appraisal I think the big question will be “how much” … Monday could be interesting

Pro_S2009 06 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 For info in case MATD strike oil : Heron-1 smallest size 11 MMBO recoverable - 8p a share Heron-1 Pmean size 25 MMBO recoverable - 18p a share Heron-1 Best case size 42 MMBO recoverable - 30p a share Red Deer-1 smallest size 20 MMBO recoverable - 15p a share Red Deer-1 Pmean size 43 MMBO recoverable - 32p a share Red Deer-1 Best case size 82 MMBO recoverable - 61p a share Gazelle-1 smallest size 6 MMBO recoverable - 4p a share Gazelle-1 Pmean size 12 MMBO recoverable - 8p a share Gazelle-1 Best case size 22 MMBO recoverable - 14p a share Heron-1 high chance of success (appraisal) Red Deer-1 lowest chance of success (exploration) Gazelle-1 high chance of success (appraisal)

Pro_S2009 03 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Both wells confirmed as still drilling towards TD. Means both primary target zones not yet entered in either Heron or Red Deer.

Pro_S2009 03 Sep 2019

Petro Matad (MATD) - 6 fully funded wells to drill Q4 2018 to Q2 2019 Loads of cash on hand. Heron next week. Red Deer the week after. Exciting 2 weeks ahead. RNS Number : 0182L Petro Matad Limited 03 September 2019 Petro Matad Limited (‘Petro Matad’ or the ‘Company’) Interim results for the six months ended 30 June 2019 LONDON, 3 September 2019: Petro Matad Limited, the AIM quoted Mongolian oil explorer, announces its unaudited interim results for the six months ended 30 June 2019. Financial Summary The Group posted a loss of USD 4.41 million for the six-month period ended 30 June 2019, which compares to a loss of USD 6.65 million for the comparable period in 2018. The Company’s cash balance at 30 June 2019 was USD 16.12 million (USD 3.79 million in cash and USD 12.33 million in Financial Assets), which compares to a cash balance of USD 15.55 million (USD 12.54 million in cash and USD 3.01 million in Financial Assets) on 30 June 2018. Following the two successful placings in 2018, no new fund raises have been undertaken in 2019 as the Company’s cash resources are sufficient to fully meet the costs of the planned 2019 drilling programme. Operational Update The Heron 1 exploration well in the Tamsag Basin of Block XX spudded with the DQE International 40105 rig on 19 July 2019. Land permits for Heron (and Gazelle) have been received and drilling operations continue towards a planned total depth (TD) of 3,050 metres. The well is an appraisal of the T19-46 oil field immediately to the north in Block XIX and is targeting a prospect with 25 MMbo of Mean Prospective Recoverable Resource. The Company expects to be in a position to announce the results of the drilling and logging of the well during the week commencing 9 September 2019. The Gazelle 1 exploration well will follow Heron 1 after a six-kilometre rig move and will take approximately 35 days to drill and log. The planned TD is 2,500 metres and the Gazelle Prospect has an estimated Mean Prospective Recoverable Resource of 13 MMbo. Gazelle 1 is located updip of Petro China’s T19-46-1 oil well on the western flank of the Tamsag Basin which is the primary source kitchen for the fields in Block XIX. The Red Deer 1 exploration well in the Asgat Sag Basin of Block XX spudded with the Daton Petroleum Engineering and Oilfield Service LLC rig, DXZ1, on 4 August 2019. The well is targeting a prospect with 48 MMbo of Mean Prospective Recoverable Resource. Drilling operations continue towards the planned TD of 2,100 metres. Results from the drilling and logging of the well are expected to be completed by mid-September 2019. In the event of a discovery in one or more of the 2019 exploration wells, the Company will bring in a separate rig for testing. A call-off testing contract has been signed, which ensures testing operations, if warranted, can commence soon after discovery. The Company successfully obtained two-year PSC extensions for Blocks IV and V, as was announced on 26 June 2019. Further operational updates will be provided in due course.