Latest Proactive Investors report..http://www.proactiveinvestors.co.uk/companies/news/10809/petro-matad-exploring-for-oil-on-chinas-doorstep-10809.html

Currently 14p to buy.

that's brought out a fair number of sellers and sp has boiled over significantly ..... worth watching for when that dries up and if buyers then jump in

fingers x'ed that turning as topped up some at 150

At a guess that must mean that there is perhaps a large reservoir down there...several hundred million barrels perhaps....need an expert on this to confirm...

2nd bounce up... in action...

I have to thank EK once again for tipping this...cheers..!.

as a short i take it ..... he'll be very sore indeed as will his acolytes

You are shorting this ?...or is he ?...this could now go to 200p perhaps...more drilling coming up....plus the weekend tipsters will digest this with perhaps another rise on monday morning....

me shorting it? .... you must be joking!
i assumed EK was, as that tends to be his mode

150 seems to be the new floor, at least for now, but all very helter-skelter

He's been tipping it...just went over to t1ps to check....nothing today...but he probably will mention it on monday afternoon....he's going long big time....

If I'd been a bit quicker...would have bought and sold and bought back several times...gotta be quick though....will stay put because...most people are probably not au-fait as to latest big news...

you can currently buy at 153, but it's real whore's drawers stuff

More zigzags than a corkscrew !.

I'm starting to make more noises than a female virgin tennis player watching this...

It's as bliss as taking your favourite environmentalist girlfriend to a BP seminar....

falling profit taking before the weekend?

that's my guess .... i don't see a lot of downside ... do you?

shouldn't be rather like RKH await flow test.

but like RKH, they have actually found oil
btw, i note MMs are widening the spread significantly to cut off anyone trading before the close - not cricket!

Could be a follow on on monday for the sp as the rns was only this afternoon friday.....and also time to digest this excellent drilling result....like you say where is the downside ?..., I can only see positives and more good news to come with the sp going for the moment perhaps as far as the upper 180's this summer perhaps further if the next spud is good...

rf how much oil have they found?

They don't say, but as far as I can understand all this : there is oil right across their block it would seem with very good pay in the intervals....it would be nice if some of the Falkland bloggers came on here and gave their views as they seem to have a very good understanding of it all,.....I'm just guessing but it would seem several hundred million barrels perhaps, but that is only a guess.