Company Web site : http://www.petromatadgroup.com/

Twitter : https://twitter.com/Petro_Matad/

Petro Matad is a group focused on oil exploration, as well as potential future development and production in Mongolia. The Group’s assets consist of Production Sharing Contracts (PSCs) over the following exploration blocks:

Matad Block XX, with an area of 10,340km2 in the far eastern part of Mongolia near the Chinese border

Bogd Block IV and Ongi Block V, adjacent to each other in west central Mongolia totalling approximately 50,000km2


Edison Research Note July 2018 : https://nofile.io/f/j90GYESdoet/MATD.pdf

March 2018 video presentation : HTTPS://www.youtube.com/watch?v=oL9rbvLAjn4

Interview with CEO July 2018 : HTTPS://www.youtube.com/watch?v=ra79wR0_jS0





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Taken a position in this one around the 9p level.

They are fully funded for 6 wells............4 in 2018 and 2 in 2019 (split by the non-drilling winter when drilling cannot be done).

First well Snow Leopard has already spudded and will take around 50 to 70 days with a number of targets.

The second well is the big one..........Wild Horse, which will spud when the first well is complete. Its been rated by Wood Mackenzie as 1 of the top 20 wildcats to watch in 2018. Rather large and if successful would amount to a blue sky share price.

I have put the recent Edison note link in the header. Going to be an interesting time in the months ahead on MATD.

In the recent placing at 10p (to add the 2 drills in in 2019 on top of the 4 this year) the Directors purchased around 250K US$ of stock........so they have plenty of skin in the game........which is a bonus.

don't put your shirt on it. BB

A lot of shares need to be bought up before this starts to move after placing,also months off any news so on back burner for now.

Not pumping BOR any more pro,must of got well and trully burnt there!

BOR ??

Was only ever FOGL and RKH for me. BOR was only in/out trading on the drilling.

:)

Interview with CEO July 2018 : HTTPS://www.youtube.com/watch?v=ra79wR0_jS0


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Earlier March 2018 Oil Capital Conference Presentation video link :

HTTPS://www.youtube.com/watch?v=oL9rbvLAjn4

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Some decent buying today. Cleared a bit of the overhang anyway.

Strong volume and price action upwards today, nice to see.

Looks fairly balanced today. Has the overhang cleared finally ?

3150 meter drill @ 120 ft day = 2 . 87 months oct oil spouts , don't like director selling. maybe , just hard up, is a better picture coming , please through a light on director sells and why. from informed one. BB

The director who sold, way back in what was it - April ? She is also the one who is retiring.

In the meantime in the very recent placing at 10p share price, the other directors purchased 250K USD of stock.

So 1 director in April sold a few, but other directors very recently purchased a whole lot more - and this is a problem ?

Director (non-exec) who sold in April sold 1 million shares.

https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/director-pdmr-shareholding/201807110900032854U/

Her resultant shareholding is (or was) 12 million shares.

Her retirement was announced :

https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/notice-of-agm-and-proposed-board-changes/201807240700035049V/

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In the meantime in June, the Exec Directors purchased 2 million shares at 10 pence a share :

https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/results-of-placing/201806140700043776R/


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So thats where the summary is ........

Abnormally high volume today and a 16% rise.

Nothing to get excited about as the only thing that matters is the RNS when it comes and drill results......good or bad.

The next well to be drilled (straight after this one) is the big one, albeit this one is still big in itself for MATD. NPV10's of the first three wells as massive, if they strike oil.

I made up the below.

If drilling is 70 days as per the RNS then they just poked the upside yesterday (day 39 of 70).

If drilling is 50 days as per the past presentations then they just poked the main target yesterday.

Either way day 39 was a key day on either a 50 or 70 day schedule.

Some references to Blocks IV and V in the below article.

HTTPS://www.geoexpro.com/articles/2015/01/mongolia-potential-in-an-emerging-economy

Its why BG were so interested in Blocks IV and V and farmed in. Although these are Wildcat wells in Blocks IV and V with Snow Leopard and Wild Horse.........they are Basin Opening Plays.

If they strike oil, it means big big upside in the other targets and prospects in the blocks - and potential, as it says on the tin........Basin Opening.

Dont like seeing an RNS pop up after 4:30pm on a Friday........causes the old ticker to skip a beat.

Anyway, just AGM notice :

HTTPS://www.investegate.co.uk/petro-matad-ltd--matd-/rns/notice-of-agm/201808241632548730Y/
...........24 August 2018

Petro Matad Limited

Notice of AGM

Petro Matad Limited (AIM: MATD), the AIM-quoted Mongolian oil explorer, confirms that the Annual General Meeting ("AGM") of the Company will be held at 4.00 p.m. local time (9.00 a.m. BST) on 20 September 2018 at Blue Sky Tower, Topaz Conference Hall, Peace Avenue 17, Sukhbaatar District, Ulaanbaatar, Mongolia. ..................

And to put some figures on mid-case values :

2018 Mid case oil strike - 100% owned

Snow Leopard-1 90 MMBO circa 60p a share (early Sep 2018 result)
Wild Horse-1 480 MMBO circa 320p a share (Nov 2018 result)
Gazelle 13 MMBO circa 8.5p a share (Oct 2018 result)
Drill TBC - ?? MMBO circa ?,? a share (tbc...will be in Block XX) (Nov 18 result)

2019 Mid case oil strike - 100% owned

Red Deer-1 48 MMBO circa 32p a share (May?jun 2019 result)
Fox-1 200 MMBO circa 132p a share (May/Jun 2019 result)

Of course, thats not taking into account all the other prospects being derisked if they do strike oil......which adds yet more value.

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Worth a listen.

Mike Buck talking in July.


HTTP://www.petromatadgroup.com/wp-content/uploads/2018/08/SM20180710-presentation.mp3


Super Majors waiting in the wings if they strike oil :)
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Half year results out.

HTTPS://www.investegate.co.uk/petro-matad-ltd--matd-/rns/half-year-report/201809070700020584A/

All good, SL-1 ongoing.

I suspected that the Technical Permit (you need a drilling permit and a technical permit) was the problem for Block XX and they say regulatory problem caused the delay. Anyway, more time to assess seismic and then 3 wells back to back April onwards.

WH-1, the big one, on track after SL-1 completes.