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It looks as though the sellers are done. Time for a leg up.
Agree. MATD has a habit of bigger gains in the days after the RNS....once rest of the market also get upto speed.
50%+ up today is while all the market is down.
However L2 is very strong and buys keep rolling in.
Another leg up today following tomorrow % up till next week with all the RNS on the way.
What is not to like.
Enjoy the ride.
I can see MM's are stopping it at certain percentage then sell and let it back up and continuing, think they will have to let it go
6.30p up it goes again.
Mms can't keep it down anymore.
Shocked this hasn’t hit 7p yet after getting the key to open that lovely oil door, early days and I ain’t slicing yet it’s way too cheap imho gla
Mark my words this would be double soon.
Nothing can stop MATD now.
3 weeks ago or so when we were waiting for LP the price reached 7.3p.
6p now is too cheap to sell. We have LP secured and V1 on the way. V2 then after. All cost paid.
Heron in production in a couple weeks following H2, 3 which all have found ready/secured + DQE for additional drilling. IOM contract. Renewable etc etc. RNS will be rolling one after another.
Mms definitely messing here. This should be at least 8p.
7.3 was before LP
.
Few days of 15 % 20% rises and ill be a happy man.
WOS must have big shopping list.
Buys keep coming.
We still have one more hour.
No use worrying about a sluggish sp, the fundamentals will out.
Heron 1 flowed 821 bopd 44° API to surface. 3rd best
exploration well test rate1 reported in Mongolia.
First oil forecast in 2023 using adjacent infrastructure
• 194 MMbo2 resource in place, 33 MMbo3 to >60 MMbo3
recoverable
• Low-cost appraisal/development
• Funded for production start up once the government
resolves land access issues
• Production equipment for Heron 1 acquired
• Negotiations for a multi-year multi-well drilling contract at
an advanced stage offering significant cost reduction
potential
• Negotiations on oil processing and export underway
• Near-field exploration will be targeted during exploitation
phase with high chance of success, low cost drilling,
significant resource potential
Feb 2023 Presentation https://www.petromatadgroup.com/wp-content/uploads/2023/02/Corporate-Presentation-15_02_23-Petro-Matad.pdf
To coin a bigbench phrase, you wouldn’t want to be out of this over the weekend!
Let’s hope as a result we see this SP continue to push on tomorrow. Because 6p is mildly disappointing for the LP RNS day!
Cheers doc…was going to say that tomorrow :-0
Agree Hamm…if the wider market was booming this would be 9 or 10p
You wouldn't want to be out over the quite a few weekends! They have the money to proceed with production of Heron and it seems the drill operator at Heron is prepared to even wait for production before needing payment for the new wells there.
If almost inexplicably the SP falls back tomorrow towards 4-5p, I’d have to seriously consider yet another top up. Or, perhaps wait until V1 results… after all, it’s still a 20% long shot. So maybe then is a good time to top up.
Block XX: The Company continues to target having everything in place to get the Heron-1 well onstream as soon as the land issue is resolved by the government. Pumping, downhole completion and power generation equipment and power control systems are now all in country and ready to be mobilised and installed at Heron-1. Production tanks have been sourced from PetroChina. These second-hand tanks offer a cost-effective solution to achieve rapid production start-up and have passed non-destructive testing to confirm integrity and suitability. They will be relocated to the production site where installation fabrication and electrical work is planned once access to the production site is obtained. The Company and MRPAM discussed with PetroChina Daqing Tamsag, the operator of the Block XIX exploitation area and facilities located immediately north of Block XX, options to process, export and sell Heron crude during the initial phase of the Heron development.
There's no choice but for it to push forward :) V1 update is literally around the corner :) any day now.
Mb should not hesitate about paying over the odds to get heron up and running this year.
I think its possible to get heron 2 in the time frame.
Exciting times
Fully expecting a further 10-20% tomorrow as the news spreads and commentators have their say... house broker should be pushing this like never before.
Well i bloody well hope so 10 % - 20% up tomorrow , the only people that seem to have being any money on any Aim shares are the shorters and 10%`s
LP has been the major factor and we have it secured. The rest is all bonus.
This is an amazing entry level or top up considering that we have LP and funds are all ready.
One way and that is surely up regardless.