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.

What ?...you've changed jobs Proselenes ?...no more pumping and dumping ?....strange....

LoL - pot / kettle :-)

Big riser today.

sp falling presumably mms taking their profits.

Gradually forming a nice bottom.

So's my mrs.,.

lol.

Mitzy what's gone wrong with this one, or was it just a pump and dump?

Mitzy do you still like this one or did you dump it after you pumped it?

RNS no further drilling this year..... what a dud!

Petro Matad Ltd presenting at the 57th Oilbarrel conference, click the link below to listen.


http://www.brrmedia.co.uk/event/109555/ridvan-karpuz-director-of-exploration

Petro Matad has updated on its operations, results of the interpretation of the 220 kms of seismic acquired over Blocks IV and V in November 2013 and the continuing farmout process.

In Block IV, 65 kms of seismic were shot overa thrusted anticlinal feature seen on a single east - west seismic line in the western part of the Block.

The new seismic confirms a three way dip closure on the downthrown side of major strike slip fault with possible recoverable reserves of 60 to 100 million barrels oil. A smaller, but a well imaged, more robust four way dip closure with possible reserves of about six million barrels can also be mapped within this overall fault prospect.

In Block V, 155 kms of seismic were shot over a large faulted anticlinal area mapped on existing seismic. Unfortunately, the new seismic indicates that the section continues to rise towards the northeast boundary fault that forms the basin margin. There is a closure against this basin margin but the relatively shallow depth of this closure makes it relatively high risk.

However, the 2013 seismic has shown two new fault traps in the deepest part of the sub-basin in Block V. One is a tilted fault block, interpreted as a rotated (low angle) normal fault. The second is a closure in the footwall of a reverse fault.

Both these leads have robust closures. They also lie within the present-day Syn-Rift source kitchen so migration and timing are considered low risk. Although both prospects are relatively small with possible recoverable reserves of 22 to 24 million barrels oil, either location would be excellent candidates for testing the potential of this Tugrug sub-basin in terms of reservoir quality and source potential.

There are no oil exploration wells and only limited seismic coverage in Central - Western Mongolia so these are the first drillable prospects identified in this frontier area. Both can be considered as locations for possible basin opener wells that will advance significantly knowledge of and confidence in the hydrocarbon potential of the area.

American E= mail tip sheet cost $500 2008 did not pay.found matd on clues
made in blurb, made small profit. conclusion bad area all promises sell

can we have that in english blackbird.,.

StockMarketWire.com
Petro Matad, the AIM quoted Mongolian oil explorer, has noted the rise in its share price and increased trading volumes.

As announced previously, Petro Matad has been seeking a farm-out partner and, whilst the company confirms that it is in advanced discussions with an international oil company regarding a possible farm-out of a proportion of its acreage, final terms are not yet agreed and there can be no guarantee that terms with the potential partner will be agreed or that any farm-out agreement will be concluded.

Farm-out agreement for Block IV and Block V, central Mongolia

Highlights:
· Petro Matad enters into a farm-out agreement with BG Group for a 78% interest in Block IV and Block V, central Mongolia.
· Agreement will fund Petro Matad's share of a mutually agreed US$28 million work programme which will fulfil the minimum work obligations for both blocks within the current licence period to July 2017. To accelerate the exploration evaluation process the majority of the work will be undertaken in 2015 and 2016.
· Petro Matad will receive additional cash consideration to the Company of US$4.55m to fund ongoing operations and obligations.

The Board of Directors of Petro Matad is pleased to announce that it has entered into a farm-out agreement with BG Group whereby BG Group will acquire a 78% interest in Block IV and Block V in central Mongolia, with an effective date of 1 January 2015 (the "Farm-out").

Under the terms of the agreement, BG Group has committed to cover Petro Matad's portion of the agreed US$28m work programme, which is expected to include Airborne FTG Gravity and magnetics, 2D seismic, core holes and exploration wells, as well as providing additional cash consideration to the Company of US$4.55m, which will be used by Petro Matad as working capital to fund ongoing operations and obligations.

The transaction remains subject to the receipt of Mongolian Government approval and other Mongolian regulatory formalities. A further announcement, in relation to these conditions, will be made in due course.

Not a dud afterall with BG onboard.

StockMarketWire.com
Petro Matad said it is very pleased with the operational progress being achieved and the data quality observed to date in the Company's FTG and seismic acquisition programmes.

"I am confident that once the Petro Matad team has integrated the new data with the existing database, a number of exciting drillable prospects will emerge from the many leads already seen from data acquired so far and yet to be acquired," said chairperson Enkhmaa Davaanyam in a statement.

"The delay in drilling is fully warranted as the extra time will ensure that the best prospects are drilled commencing in the second quarter of 2017."

Petro Matad further noted the dramatic tumble in the price of crude oil, and said "there has been no detrimental impact on the Company's operations.

"In fact, the availability of services and rigs is such that the Company expects to be able to drill the planned exploration wells at a substantial discount to the cost that would have been incurred in previous years."

sorry to say, but this is yet another mug punters' share
do yourself a favour and look at a 3 year chart and you'll see exactly why

I agree Mr C. Not one I have ever held, but have kept an eye on it just in case.
It comes under the 'Jam tomorrow' banner for me.