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.

StockMarketWire.com
Petro Matad has swung to an H1 pretax profit of $93,000, from a year-ago loss of $1.7m. In the just-finished period the company enjoyed $4.8m of other income, from $1000.

The profit recorded reflects cash calls received in 2016 from BG Group (Shell) to fund operations under the farm-out agreement prior to receipt of BG Group's exit notice.

The company's cash balance at 30 June 2016 was $0.49 million, which compares to a cash balance of $2.51 million on 30 June 2015.

As reported in the announcement of 11 August 2016, $10,005,303 has been received from Shell's affiliate, BG Mongolian Holdings Limited (BGMH) and a further $5 million is payable upon Mongolian Government approval of the reassignment of BGMH's interest in Blocks IV and V to Petro Matad.

Following receipt of these funds the Company will be in a position to execute its exploration program for the next twelve months.

has exceeded my expectations . the big one is coming ? still holding BB

maths make no sense, company have stated 10 Bn barrels of oil in ground @
10 $ profit per barrel = $ 100Bn what is the N A V i here you say. a more
informed one needs to write. BB

matd sold @ 30p reason , no reason , profit taking will go back in on good,
feed back from spiking well in july core samples before oil spurts out, then buy

bought back in @ 10p oil to flow sept 30p upside BB

Amazing upside to 30p+. No brainer imhho. Up we go.