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.

bb only a possibility no rig has been contracted, 2010 drilling program has been completed next drilling to commence in spring 2011 after seismic analysis,six months hibernation on the cards.

Thats why I asked the question...sp risen back up, any news...only news is a rig.,.

or some serious ramping before the winter!

Correct they are trying to obtain a winterised rig by mid November.

I thought they said something about one more drill.

Will check rns again but certainly puts PRO's 60p in the shade!

lol..I fancy 122p finish tomorrow.

Do you promise not to tell.. lol.
882mbo in block xx and how much in block 4 and 5.

Just got to wait for mid December now, then all the selling will happen again and down it drops again.

So 60p over the winter as suggested very possible, just wait until the severe weather strikes and its all called off until Spring.

Everyone has now seen a dress rehearsal and there will be a jump for the exit when weather stops drilling next time.

Blocks 4 and 5 could contain another 1.2billion bo so thats 2 billion all told.. 2000p is my target in the next 12/18 months.

60p by Jan 2011 ???

RIG contracted winter drill to start as soon as possible........sp up 125p

another 3p added today.

Spudding of DT-4

Petro Matad (AIM:MATD) is pleased to announce that the Davsan Tolgoi-4 ("DT-4") exploration well was spudded at 00:00hrs (midnight) Mongolian time on 15 November 2010 (16:00 hours on 15 November 2010, GMT).

The DT-4 well is being drilled vertically to an estimated target depth of approximately 2,020 metres. The well is being drilled by the Company's contractor, DQE International. A further announcement will be made once drilling is completed, or as appropriate. This well will test a four-way fold closure that is part of a fault block prospect named Davsan Tolgoi West. DT-4 is 3.4kms west of DT-1.

So 2000metres depth should take us to about the week before xmas.

That'll be a nice pressy.,.

Depends on the weather of course its getting cold out there.

market is underwhelmed

It proves they call drill in temperatures of minus 16*.

and it proves also that the market really doesn't care!

spoil sport!!