Petro Matad (PRTDF)

[douginil]

An additional mention on Malcy's Blog

Petro Matad

An operational update from Petro Matad this morning and having met with Mike Buck recently I am slowly being re-converted to the faithful. There has been a slight delay but the Snow Leopard 1 well should spud on block V in July and followed by Wild Horse on block 1V ‘seamlessly’. Snow Leopard is targeting 90 MMbo of resources potential but having been recently upgraded Wild Horse is targeting 490 MMbo. Over at block XX the tender process is complete and the permitting process is progressing ‘smoothly’ and is still on schedule to drill late 3Q or early 4Q. Exciting times for MATD lately and whilst the shares are already up around 60% on the quarter these wells offer significant size of prospect and so one couldnt rule out further rally on any success.