Member Info for abzzba

Lots of NEGs talking about a raise, they might do better with a good deal of research instead of uttering gibberish.

Meantime back at MATAD, happy days just ahead.

Who woke the NEGs up .

I will go for Up days tomorrow and Friday, plus all next month !!

Proquo, plus H1 was stimulated pre completion as per RNS dated 22 Aug 2024 so quite possibly capable of producing well over the 821 bopd the well test returned.

Also in our favour when dealing with Petro China, Dongsheng/Sinopec had talks with Mongolia few weeks ago re supplying the refinery so they are almost certainly one of the "entities" and might help push the Heron field price up, indeed it would not surprise me if they bought Heron field.

https://montsame.mn/en/read/369293

Pure guess work, given its a 20 to 30 year project, drilling costs, oil prices (SOCO 2005 oil price was 44$) i would say Heron was worth around 250-300 million, but this is the Chinese we are dealing with, so my thoughts are MATAD would get at most 150-175 million.

On our side is the refinery and Mongol law stating Mongolia have first claim on oil, oil price volatility including China importing 1 million bbl a day from Iran and future conflict between Israel / Iran, how long is a piece of string, but at 150+ million i would be reasonably happy.

My thought only.

SOCO had no 3D seismic, they were just poking holes in the ground and depending on luck, Petro China have extracted tens of thousands of tons of oil from their 205 km² of the TAMSAG basin and have over 300 producing oil wells, MATAD have 214 km² with the same geology and one producing well, its HUGE !!

Meanwhile our cracking little AIM oiler is pumping oil, question is how much oil, are we still choked back to 200 bopd or has the sand issue disappeared same as happened with the pressure spike issue, hopefully the next RNS update will tell all, could we now be producing 300, 400 bopd or more, who knows.

Must admit it makes me chukle listening to numpties with ZERO oilfield experience waffle absolute outrageous rubbish about things they know nothing about, how anyone in their right mind can say H1 has been a disaster is beyond me, another Krok of shxt poster has joined our board.

Looks like we had another "raise" today, 2.72%,

Gravy, not sure its what Adw thinks but its certainly what he wants, not sure how many HUNDREDS of times he has mentioned it, but i do know that early April he said he would not post any more until the raise was announced, well we have not had one and he is still posting.

Personally i am still confident we will see 5p in June, so much news imminent such as first payment for our stored oil, H1 update of increased production, remedial works for H2, add to this Gazelle & GOBI BEAR, could easily see 5p sometime in June.

If the news also included positive update on JV/buyout then could well be more than 5p.

If the sand issue was caused by the initial pressure spikes reported back in November its very possible the sand issue is becoming less of an issue as we flush the dislodged sand out of the well, who knows, maybe no sand screen needed, maybe we have already increased daily production.

No progress, quite sure talks re JV/buyout ongoing, these take time, also quite sure H1 will feature heavily, as i said previously it could well be that the sand issue is disappearing like the pressure spike issue did, do not for one moment think there is NO progress,

Oh well !!.

Doc, quick question, what price do you need before you sell and once sold will you continue posting ?.

On the bright side those shares being sold will end up in stickier hands, onwards and upwards in the coming weeks and months.

Full flowing H1 & H2, add Gazelle = 12p by year end, well over 1000 bopd with these three wells alone.

The refinery would be the "IDEAL PARTNER", no doubt about that.

Direct into MG government, future wells, funding via Mongolia etc etc.

Could the refinery operator be considered as an “entity”.

With Mongol Refinery operator being granted special permission to engage in petroleum exploration and exploitation, it signals a clear intention from the Mongolian government to develop domestic oil production rather than relying on imports. If Petro Matad, which already has proven oil discoveries plus drilling and operational experience in Mongolia were to collaborate with Mongol Refinery, it could lead to several key advantages:

By establishing this strategically important oil refinery, the national economy of Mongolia will be-come independent from energy imports, and fuel and commodity prices will be stabilized in the country.

Refinery operator being granted special permission to engage in petroleum exploration and exploitation, see link below, towards bottom of page.

See link below confirming the refinery granted exploitation rights.

https://envoyexcellency.com/mongol-refinery-project/