Member Info for abzzba

Proquo, my thoughts are if we can get an early result at GOBI then we should have ample cash for Gazelle 2 later in the season, maybe even a Heron 3 as you suggest, plus our Integrated Services deal with DQE is still valid so yes all options on the table.

Hamm, nowt to do with lost faith, i am just greedy and realise the sp would be a lot more if we can keep ALL profits to ourselves, i am not in a hurry to cash in, apologies if that confuses you.

With oil hovering over $113 and very posibly going much higher plus the fact i see this IRAN conflict lasting longer than some think i am all for going it alone, a good result at GOBI and drill Gazelle 2 we would have enough income (at these elevated oil prices) to go build our own future without sharing the spoils.

I doubt the fact that Mongolia have first claim on oil produced in Mongolia is a big issue, we are speaking about very small amounts.

Venezuela supplied around 800,000 bopd to China.

Iran supplied around 1,000,000 bopd to China.

Mongolian current production is circa 14,000 bopd and at its higest back in 2015 it produced around 24,500 bopd, hardly enough to worry anyone.

We still hsave the Integrated Service Agreement signed with Mongolia's main provider of well services, DQE Drilling, this was hammered out a couple of years ago.

My reply ref dewax etc below,

Thank you for your enquiry.

As noted in RNS dated 18 February 2026, Heron-1 continues to produce in line with Company forecasts and whilst this is the case and whilst oil prices are high, we are holding off any down hole intervention including the dewaxing.

Operations at Heron-2 were suspended due to winter conditions in December. Data gathering on the change of fluid level in the well has continued although this too is temperature sensitive. We are evaluating results as we prepare for further operations and we need very little additional equipment if and when we decide to re-start.

Best wishes,

Petro Matad IRThank you for your enquiry.

Would doubt this would delay MATAD farm in/buyout of block XX, not unless Mongolia decide to bin the refinery and their entire Vision 2050 which i very much doubt they would.

Hamm "$40 net profit per barrel and $70 oil,", i think you should consider getting used to higher oil prices, my guess they are here to stay for a while, Brent currently sitting at $112, i fully expect to see the price take off in the coming weeks/months.

But really love how he scares SHXT out of the lefty zealots,

Aye, Donalds a rascal !!!!!!!!!!!

Gadgie, i estimate approx 500,000 barrels to fill the pipeline + Qty 5 heating/pumping stations along the pipelines route plus the the refinery storage tanks, i estimated the refinery storage tanks around 180,000 to 210,000 barrels which is 6 or 7 days worth of oil for the refinery.

..............................................................................................

It will take approximately 205,304 barrels of oil to fill a 530 km pipeline with an 11-inch ID, add to that the oil in the 5 pumping/heating stations along the pipelines route plus the refinery storage tanks which i estimate will hold another circa 200,000 barrels.

In total around 500,000 barrels of oil in total just to get the refinery ready for ops.

I will start thinking about dividends.

1: When we get to 5000 bopd production.

OR

2: If there is 150 million plus buyout of block XX.

"how we stand currently ", in a lot better position due to the price of oil. (almost like being paid twice for the oil we sell).

Brent currently $107.40, i fully expect we will see Brent price stay high for at least the rest of the year and i fully expect we will see Brent well above the current ($107.40) in the months to come.

We know we are paid in Daqing which is Chinese bench price, the Daq trades at around 3.5% discount to Brent so with Brent at 107.40 the Daq would be $103.64, we must also deduct $1 from the Daq price as per the Petro China sales agreement.

We also know we are paying Petro China circa $12 for processing handling and trucking fees, you can do your own calculations.

Donalds a wee rascal !!!!

"ceasefire is in sight", my thoughts are things about to take off big time.

Petro CHina bought the Tamsag field from SOCO in 2005 and drilled 589 wells by 2021, so for that field we get an average of 36.81 wells drilled every year

As of 2021 when the last official figures were released Petro China had drilled 589 wells and had 311 producing wells in the Tamsag oil field.

Location: Khalkha Gol soum, Dornod province

Contractor: PetroChina Daqing Tamsag (Mongolia) LLC

Effective date: 1995

Extraction area: 209.2 square km (2.1% of exploration area)

Number of wells drilled: 589

Oil extraction wells: 311

Oil extraction per day: 1,242 tonnes

https://mongoliainc.com/key-commodities/oil/

If the drilling success rate is the same as Petro China field a few km to the north then its a 60% success rate, 3 wells out of every 5 would be producers.

TBT you are right, likes of Petro CHina would pay half (maybe even less) than we pay for drilling & completing a well.

Dusty reduced his entry to 0.8p ref his 07.51 post yesterday