Member Info for abzzba

I33, Mlbeck set his LSE account up 8 days ago, just another multi ID account, lost track how many of those we have seen in recent months.

FTSE, my e mail to ir already inboxed, as you say it does no harm to gee them up.

BB was being worked is an understatement !!

Spirittfinder, good to have you onboard, lucky you getting in at this price, sure you will be happy once we get going again

Quite amazing how these NEGs lie, it well known what each well costs, 1.5 million to drill, 2.5 million for the well test and completion (if it gets that far) so in H1 case 4 million dollars, so its well on the way to paying for itself, also worth noting it will have a 25-30 year life, though quite sure the BASHERs will say otherwise

Lots of new NEGs crawling out of the woodwork,

I33, as we have seen there is huge manipulation going on here, how many times have we seen 4 times more buys than sells and yet the price falls, NEGs can shout all they want but this is pure criminal (at the moment).

Nothing has changed, we still own Heron field and the Competant Person Report states 33 million recoverable barrels of oil in place, maybe as much as 66 million barrels with new techniques.

Chinese being a pain witholding 30% of our oil money but that will get sorted, we stilll have Gazelle which seems nailed as a producer, if in doubt about that i suggest you read the RNS from 17th October 2019 and listen to the AGM starting at 11m 34s.

Add to this Gobi which was found to have 34m reservoir quality sandstones, ok the oil has migrated (moved from the sandstone) but its still there.

H2, was mentioned turning it into an injector well, personally i think they will try and improve on 30 bopd they got during the well test.

We await further updates on JV/Buyout, would be nice to hear something soon (very soon).

Meantime the NEGs & Bashers are doing what all good NEGs and Bashers do, nowt we can do about that until we get news.

Truly amazing how many half wits this board attracts.

Would not surprise me if Doc wet himself today, never seen him so chipper.

Thinking about it i guess its not new

And now the bashers have resorted to lies, lowlife indeed.

TenBag, the bashers certainly seem to be reverting to desperate measures, good for a laugh though, brightens the day to see a clown.

The Action Group at Petro Matad, quite laughable the lengths the bashers will go to.

Hamm, i wish i knew when we will get started, meantime stick around and enjoy these joke posts from the bashing crew.

Hamm, they will not be drilling, well test and completion only, yes still to be done before winter sets in but reasonably quick, one low cost workover rig (not drill rig) will test and complete Gazelle & Gobi within a 4 to 5 week period.

Hamm, i have no idea what our renewable division would be worth but if it were enough to see Gazelle & Gobi developed and drill and develop a few more Heron wells then i would certainly be all for that idea, if i am being honest this renewable headlong rush by countries is an absolute joke, i think most engineers not directly related to renewables would agree with me.

On another of your points "Set a firm 30-day deadline for the JV or buyout discussions", i would have to disagree strongly, these discussions take a long time, much to be researched by prospective buyer or partner, no doubt they want their own competant person report on Heron oil in place, access to drill and production logs etc etc, these things take time.

Doc, how many pay zones does Gazelle have ?, what depth are they at ?, answer that rather sinple question to win a lolly.

TenBag, maybe we are, maybe thats why all the bashers are here, they resent the fact MATAD are now producing.

invidious (of an action or situation) likely to arouse or incur resentment

Its not that strange that some on here have no confidence in Gazelle and/or Gobi, quite simply they do not understand what the various RNS are telling us, Gazelle seems nailed to be a producer, maybe not huge but commercial no less, Gobi is a different story, 34m reservoir quality sandstones, the issue being that over millions of years the oil has succumbed to reservoir pressures/ external forces and has been pushed out of the sandstone (its migrated), by analyzing the drill cuttings which are all logged against depth obtained the company can get a handle on where the oil now is. Not rocket science though it seems that way to the laymen who love making unfounded and outrageous claims.

Gobi has the "potential" to be massive producer

Wigster, my rough costings to turn H2 into an injector well are, costs 500 to 700k and timeframe 2 weeks but in reality i do not think they will do this based on my earlier posts, Groks answer is utter junk (in my estimation).

LSE have deleted the majority of todays post, this site sucks.

My thoughts are that MATAD will endevaour to get more production from H2, the initial well test resulted in 30 bopd so not a great increase required to make it commercial, they previously mentioned turning H2 into an injector well to serve H1 however during the H2 well test there was obviously no communication between H2 and H1s reservoir so no point in injecting water down H2 in the hope of increasing H1 reservoir pressure, if there had been communication we would have seen a lot more oil flow during H2 well test, i would guess the downhole situation may now have changed now that H1 reservoir pressure has depleted, that said i believe that due to our limited funds they will work on Gazelle or Gobi first, my belief is either or both of these wells have much better production potential than H2 and effectivly H2, Gazelle and Gobi are all drilled and cased to bottom so they are all at the same stage, better to spend our limited resources on the well that will give the best return.

For those reading i am neither a drilling nor a production engineer but i do have decades of experience with drilling and production equipment.