Petro Matad recently completed the second well in a six-well exploration drilling campaign. There will now be a hiatus due to the harsh Mongolian winter before the programme resumes in the spring. The four remaining wells, all of which will be drilled in 2019, will target more than 250 MMbbl and each one is estimated to have a higher chance-of-success than either of the wells drilled thus far. We reiterate our Buy recommendation but, after the failure of the Snow Leopard and Wild Horse wells,
26 Nov 2018
Looking forward to 2019
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Looking forward to 2019
Petro Matad Limited (MATD:LON) | 3.9 0 2.6% | Mkt Cap: 43.4m
- Published:
26 Nov 2018 -
Author:
Richard Slape -
Pages:
4
Petro Matad recently completed the second well in a six-well exploration drilling campaign. There will now be a hiatus due to the harsh Mongolian winter before the programme resumes in the spring. The four remaining wells, all of which will be drilled in 2019, will target more than 250 MMbbl and each one is estimated to have a higher chance-of-success than either of the wells drilled thus far. We reiterate our Buy recommendation but, after the failure of the Snow Leopard and Wild Horse wells,