49% drop today! Do we give up on this one?
2019 Drilling :
1/ Heron-1 due to spud early to mid July 2019 - 30 to 40 days to drill - Block 20
2/ Gazelle-1 due to spud late August 2019 - 25 to 35 days to drill - Block 20
3/ Red Deer 1 due to spud mid to late July 2019 - 25 to 35 days to drill- Block 20
4th well - To Be Decided Either in Block 5 (Raptors) or another in Block 20
I believe Heron COS is 75% and Red Deer COS was over 40%.
Red Deer is a basin opening play, if that comes in thats worth a load plus a lot more.
Heron 25 MMBO circa 18p a share
Red Deer-1 48 MMBO circa 32p a share (plus loads of follow on leads)
Gazelle 13 MMBO circa 8.5p a share
Drill 4…depending on where it is, if Block V then its a biggie, 200p a share potential, if its Block XX again then maybe another 20p to 30p a share size drill.
Both Heron and Red Deer one due to be at TD at the same time, mid August.
Ticking up today … hoping this years drilling goes as planned and no surprises … other than oil (obviously).
Very frustrating in the last couple of years here.
July! and two wells have been forecast to spud this month… news due very soon.
when are the next news expected?
RNS 26th June states
Heron 1 was on track to start drilling in July … expected drill time 35days (late August)
Red Deer 1 (2nd rig) also expected to spud before end of July … again 35 days forecast (early September)
Rig from Heron 1 moves to 3rd drill site Gazelle 1
News flow over the next two months will be interesting … noticed an increase in the sp last few days … fingers crossed
Edison update for MATD.
Spud Heron 1 RNS with around 40 days drilling.
… second rig to spud this month also.
Two chances of hitting oil should shift this share price upward at long last
Just for a bit of fun and note that any mechanical failure at all will totally delay everything…
Based on other DQE drilling a rough schedule is averaging 130 meters per day (with no mechanical issues) over a well to TD.
Heron-1 is 3050 meters and so divided by 130m/d would give 24 days to get to TD, prior to initial wireline logging and then initial RNS at say day 30.
Red Deer-1 is 2106 meters and so divided by 130m/d would give 16 days to get to TD, prior to initial wireline logging and then initial RNS at say day 22.
Entering of the Primary Target at Heron-1 should be around 2800m onwards which would equate to day 22 of the drilling. Also secondary targets earlier.
Entering of the Primary Target at Red Deer-1 should be around 1650m onwards which would equate to day 13 of the drilling. Also secondary targets earlier.
Heron-1 spud was 19th July.
Volume spike time - anytime after 10th August. Results RNS after wireline anytime from 19th August.
Red Deer-1 spud ETD 29th July.
Volume spike time - anytime after 11th August. Results RNS after wireline anytime from 19th August.
So, from Monday 12th of August, if we get crazy volume spikes we will not know if its Heron or Red Deer or both.
Enjoy the ride.
so from August 12, could it always be the right time to see the stock grow? I have no idea at what level I will be able to liquidate … unfortunately I am Italian and I cannot have much news. yours are the only ones, so thank you