Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Hi MP
What did petro china offer for 100%?
Heron Oil field looks to be lot bigger on the map.
One of the best Oil quality discovered in Mongolia much much better than even Petrochina wells.
SOCO International first 2 wells from Block 19 across the boundary on their side 19-13 and 19-14 flowed at 350 Bopd. Huabei Oil services (subs of Petrochina) was the drilling company who then bought 10% stake in Blocks 19 and 21.
5% was held by Petrovietnam
85% SOCO
10% Huabei oil services
Petrochina later made the Offer to take 100%.
Heron-1 flowed at 850 Bopd which is more than twice the rate vs Block 19 early discovery. Petrochina later had 25000 Bopd producing from 50 wells at its peak dropping to around 16000 bopd currently.
New Oil refinery needs 30000 bopd.
Heron Oil field will need to plug the 14000 bopd shortfall and will be fast tracked. Blocks 19 and 21 are the only ones producing oil currently in Mongolia with Block 20 to come online pretty soon.
Institutional Investors and Fund Managers should soon be adding MATD to their High Growth stock portfolios in my view.
Gazelle I think is potentially 500mboe in place and 200m recoverable
Sorry to admit that no, I have not been to Mongolia. I would very much like to go. The vast expanse of the open and empty spaces does appeal.
I wouldn't want to live there as I don't speak Mongolian and whilst I would love the vast empty spaces, I do like the finer things in life. Good wine. Good architecture. Varied cultures. The arts. Fine food.
Having spent a lot of my working life in Chile and Argentina, travelled the world quite well and visited many varied places, I have settled on the IOM.
Whilst I would love to visit Mongolia, I maintain my no thanks position to living there.
I am obviously too comfortable and arrogant and happy to stick with my choices regardless of my ignorance....!
Thank you for that Master must admit i do not remember your post. But 15 wells would be fantastic and with >800bopd it might be possible within a year to wipe out the accumulated loses. Unlikely but not impossible.
You are right he did not use those words he used "The well came in close to prognosis" which in laymans terms roughly translates "to came in almost as expected". I fully understand the need to drill and why which is unfortunate at this time we could not get a covid extension but my point was the way he expressed it.
Ibiza28
MB didn't use the words you quoted on V1 That well was drilled because of time restraints on licence / permits and prospect was too large to ignore. It failed at a relatively low cost ( maybe valuable data obtained ) and now the company can concentrate of what they have found at Heron and Gazelle to move forward.
Https://twitter.com/smasters2020/status/1643580059104493568?t=t-NqcJRjA3ohM7tbkrYrIA&s=19
6 wells are planned just around the gazelle area.
IMO there are lot more than 15 wells planned . Because Heron well area is not even on the map/plan..
Gazelle comes later as Heron is bigger find and has to be the focus. This area which was targeted 12 years ago has massive potential which has now been realised. Mike Buck is the person responsible for what has happened in past 4 years and will now exploit it to Petro Matads advantage. Big Doug al.ost got it right ... Mike Buck will get it right no matter what his critics say. Next 2 years will prove that ! That area / block is saturated in black gold
Ibiza 15 wells are planned in block 20. If you look at the locations , one of the well is gazelle.
I posted the plan on twitter few months back.
To get back to the main issue on this board ie our share price and ultimate SP.
I have one question well maybe 2.
Now that V2 is not required why cannot we use that money to drill an exploratory well for Gazelle. Is there anything stopping us and if so why not.
I assume that Gazelle exploratory well is not a very deep very expensive drill so i would have thought the quicker the better unless he has a farm in for this lined up.
On another issue i do despair at MB's wording. As i recall in the RNS re V1 duster he used the phrase before revealing duster that it "came in as expected" . With all due respect if it was exp[ected to come in as a duster why the hell did we drill it. If he had said unfortunately the well turned out to be dry that would be lot more acceptable me thinks.
Anyway good luck all tomorrow or certainly next week should be beginning of a big news flow. I hope.
I've always supported the underdog which - in this case - was clearly Alcatraz. Good thing he won - just my opinion.
Stfu .. if you dont like it here fo
// I went to the IoM once. It was closed. //
Wonder why
Every Time I've been it's always full of 🏍️🏍️🏍️🏍️🏍️
Crystal Ball time not tennis balls..... Is this the start of the hike to an 8p+ week or just another dive to the -4p resistance level.
Inside information please....not the usual character assassinations of other posters
Djokovic ;)
Alcaraz next year. It’s the weekend… we can talk about whatever we want. Them the LSE rules.
And ypu lot go to a travel forum if you wanna discuss the merits (or not) of IOM then..
Thst was my entire point!
Go to a sports forum if you wanna discuss tennis!
Alcaraz or Djokovic
(autocorrect!)
Who's gonna win? Who do you wanna win?
Alcatraz or Djokovic?
The irony of your post is lost on you. bigging up iom with all your experiences yet implying the opposite for mongolia even whrn u haven't resided there. pretty arrogant and pompous.
I went to the Isle of Man once...it was full of blokes.
I went to the IOM once went to a pub the landlord said I would like you to meet my wife and my sister here she is!