£MATD Petro Matad — Mongolian Oil Q2 catalyst : pennystocks
Company Summary:
Petro Matad is a British company who have been looking for oil in Mongolia for many years. They recently found oil and were granted license from the Mongolian government to extract it. The company is currently in talks to secure rigs and are expected to be extracting it by Q2.
The company’s fundamentals are changing from discovery to production.
Chart:
Some recent history
As we can see, there is a huge gap to be filled above 3.5p.
Closing above 3.5p could send the price upwards majorly.
Additionally, the MACD is finally turning positive and news (a catalyst to send above 3.5p) is imminent.
Conclusion:
I see this as a company with huge potential upside. The risk reward ratio appears great.
Some price targets – Westhouse Securities, a firm with investments in Petro Matad, have apparently given it a price target of 250p. Stockopedia gives it a price target of 4.45p. I think if Petro Matad can actually show oil out of the ground, 20p++ is realistic. Especially given that the share price was ~7p just on news of the exploitation license.
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potential hUGE upside
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3.5p gap
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etc//
Not financial advice, I am an investor in MATD, DYOR.
