Member Info for abzzba

With limited fund (3 million) plus nowt hitting bank from PC i think he is being prudent, sure i covered this yesterday. Perforate Gobi & well test will not cost a great deal, but to complete it and put it into production takes the figure to around 2 million

Proquo, might we have spent some of last years raise completing Gazelle after we got a favourable well test, bird in the hand and all that guff.

35,000 barrels as of 27 / 28th May, Monday will round us off at circa 40,000 barrels.

Read Dozzawba 08.11 post, that is as good a summary as you are likely to get

Donald is an obfuscator, deliberately so, no one ever knows his end thoughts or goal, he is playing with them.

Dozzawba, spot on summary.

Brent $88.35.

https://oilprice.com/

'Flip-Flop' or Deliberate', Just Donald doing what Donald does best, keeping everyone guessing, he really is a wee rascal.

Trump cancels scheduled strikes against Iran, claiming progress in talks.

Yep, Donald is way to soft, he needs to man up and get the job done.

Donald needs to stop being Mr Nice guy, time to take the gloves off, IRAN are now owe the world hundreds of billions in reparations

Breaking news.

https://www.foxnews.com/politics/severe-pentagon-lockdown-sparks-emergency-response-hazmat-teams-sweep-area

From 4th June 11.06. (Erdenes Mongol LLC )

Not sure if anyone is aware but Mongolia refinery operator appears to hold the PSC licence for the as yet unexplored Davst XXXI field, reports are it will be explored this year.

There is also some confusion if the refinery operator is a subsidiary of Erdenes Mongol LLC, from what i can see Erdenes Mongol LLC was established in 2007 as Mongolia’s principal state owned enterprise responsible for representing the government’s ownership in matters involving strategically significant mineral deposits so it may be they simply oversee the refinery operators operation on behalf of the government.

Either way its worth keeping a look out for any drilling operation in the Davst XXXI block.

Couple links below where Davst XXXI is mentioned.

Makes little difference to MATAD.

mongolianminingjournal.com/a/74968

https://en.mininginsight.mn/index.php?newsid=308

info on Erdenes below.

https://projects.gbreports.com/mongolia-mining-2024/erdenes-mongol-interview

I33, if only we knew !!, but one thing i am sure of is its absolute the wrong time for investors to start doubting, plenty time for that later if MB does not deliver.

I33, i don’t think it was stated which seismic they had decided to analyse, i should think they already had looked at the 3d seismic that overlaps our boundary with block 19, if its the 2d seismic which covers a far bigger area that could take a few months, my thoughts on hearing about this was they may be considering a buy out of block XX rather than a farm in due to recent developments in the oil price, a farm in they could walk away from, if they are intending buying block XX then they want to be 100% confident, other question is why are considering doing 3d over the whole block, has this been requested by another party, we simply do not know.

TBT, i tend to agree, (broadly).

Investors should keep in mind that GOBI has to be perforated & well tested, if it delivers a favourable well test it then needs completed which will cost circa 2 million for all the works, meantime we have operational costs to meet, we could do GOBI tomorrow but we would be left with ZERO cash in the bank to continue operations.

MB advised at the AGM that PC said the sales agreement was imminent, quite obviously and for good reason he may not have belived them, well done him.

Proquo, might i humbly suggest it you and a few others that have their head in the sand, if MB had booked a rig to start at GOBI or G2 in April we would have been facing costs we can ill afford, you should be saying well done Mr Buck for realising PC would screw us again, the guy has kept the lights on by NOT spending money, it called being prudent.

I33, i see your point but getting hacked off when we are obviously so close seems rather strange to me, by all means sound off if we reach September/October with no news.

PS, my first MATAD purchase was on 27/11/17 @ price 3.469p

Love the subject line "Yo-yo", very apt given we have so many disenchanted investors spouting off.

Bauchsapt ✅

Its not just US reserves, countries around the world have been tapping emergency oil reserves, hence $160 a barrel being mentioned by the likes of EXXON,

I guess we could look at it this way, we are approaching a crossroads, continue straight on is the go it alone road, left takes us on the farm out and right is the buyout of block XX, just waiting on google maps (aka MB & interested parties) and instructions on which road we take.