Member Info for abzzba

Wingster, i read it the same as you so it looks like we will benefit from previous months higher prices.

If a JV/buyout were not close i would have expected a fund raise by now to pay for more drilling and remedial works, fact we have not had that means a deal is close (my thoughts).

Stockmad, i would strongly advise you seek out some psychological help, your behaviour is not normal.

Odds on this week coming, place your bets.

It's not all negatives!!!!, true, its mostly rubbish, lies and half truths.

Mad rant maid is back, oh goody.

AGM.

44:41

Incorporated is of man registered petrad energy um well I'm sure shareholders would appreciate a dividend and rest

44:49

assured that the board does recognize the patience and Persistence of our shareholders and so we would very much

44:54

like to do something in the event that there were to be an asset sale and yes we would look to

45:00

hold uh the lower cost exploration activities and certainly were excited by

OWL, agreed, RNS update any day, sooner the better.

PS, still on for 5p by June and 12p by year end.

Extract from the GOBI Bear RNS 7th Oct 2024.

""""Wireline logging confirmed a total of 34m of reservoir quality sandstones within a gross interval of 70m between 1,558m and 1,628m. From logs, the sands are computed to have 13% average porosity which is consistent with the productive reservoirs in the basin"""".

If the oil has migrated that just means it has naturally flowed over millions of years from the 34m of reservoir quality sandstone to another area probably due to fault lines and pressure, this is part and parcel of drilling, at 9.39m of the AGM we were told the well cuttings are being analyzed, reason for this is to see if hydrocarbons are present and will point to where the oil from the 34m sandstone has migrated (moved) to.

GOBI could wel be a company maker if we can pin point the oils migration path.

As an expirement i thought i would asl AI for a sandscreen quote, see below Q & A.

Question = What will it cost to fit a expandable wire wrap sand screen to an oil well onshore Mongolia, pay area is 20 metres.

For info I tend to disagree with AI answer as I believe the cost will be closer to 250k not 100k as AI suggests.

AI answer below:

The cost to fit an expandable wire wrap sand screen to an onshore oil well in Mongolia with a 20-meter pay zone depends on several factors, including:

Key Cost Components

1. Expandable Sand Screen Cost

o Material Cost: ~200–200–400 per foot (~650–650–1,300 per meter)

o 20m (~65.6 ft) screen cost: 13,000–13,000–26,000 (depending on supplier, grade, and customization)

1. 2. Installation & Labor Costs

o Rig & Crew: Onshore rig rates in Mongolia ~5,000–5,000–15,000/day (depending on availability)

o Installation Time: ~1–2 days → 5,000–5,000–30,000

o Logistics & Transport: ~2,000–2,000–10,000 (remote areas may increase costs)

2. Additional Costs

o Well Preparation (Cleaning, Perforation, etc.): ~5,000–5,000–20,000

o Completion Fluids & Chemicals: ~2,000–2,000–8,000

1.

o Contingency (10–20%): ~3,000–3,000–10,000

Estimated Total Cost Range

• Low End: ~30,000–30,000–50,000**

• High End: ~70,000–70,000–100,000+** (if rig rates are high or logistics are challenging)

Factors That Could Increase Cost

• Remote location (higher transport & labor costs)

• Custom screen design (special alloys, higher specs)

• Well conditions (additional interventions needed)

Recommendation

Get quotes from local service companies (like Petrovis, Schlumberger, or Halliburton in Mongolia) for precise pricing. If the well is in a remote area, logistics could significantly impact costs.

Stockmad, you should be locked up for spreading FUD.

Below is a very reasonable estimate of H1 costs and work required which i initially posted on 30th March, the fact you do not understand what is required is not my problem.

Will give you a hint.

Find the well depth and divide it by the length of a piece of tubing (10m+, ref API range 1, 2 or 3 tubing), that tells you how many tubing joints are in the hole and will need pulled, in this case its around 250-270 joints, now you need to know how many joints the rig can handle per hour while tripping out and running into the hole, from that you get a basic work time for fitting the sand screen, there will be a visual inspection of the tubing connections between trip out and trip in, we want pressure tight string (right ?), my estimate for trip out/trip in is 96 hours max (rig handling 6 joints per hour), add wellhead related tie in taking 24 hours max, pressure test and sundries, we will be done and dusted in 5 or 6 days absolute maximum, so rig hire (including crew) 8 days inc setup etc@ less than $20k per day (quite possibly a lot less), cost of screen plus associated tools less than $100k (probably a Chinese screen not a Weatherford screen).

Rough guess at total costs = Rig 160k absolute max plus screen and associated tools 100k, quarter million in total, lets say 300k to be safe though i do believe it will be less as i doubt the rig cost are anything like 20k per day.

They will take several days to increase production in stages while monitoring for sand, i would estimate an RNS around 2 weeks after starting telling us that production has increased to xxx bopd, but knowing MB he may take his time with that RNS.

I believe the above to be a reasonable "estimate" of time and costs to fit a downhole sandscreen.

Quite amazing how ignorant and uninformed many of the posts are, stockmaid has reached new levels of stupidity with the comments posted this weekend.

Stockmad spreading more FUD.

Pressure spikes reported in November RNS have disappeared, ref timestamp 36.33m of AGM telling us this.

stockmad says on sand issue "How does he know it's cheap, easy, and a quick fix ", because he is an oil expert and sand in oilwells is a quite common problem which is easily fixed by fitting sand screen, there are other options including chemical binding agents and surface screens but by far the most common is a downhole sand screen which is industry standard fix.

Amazing how these FUD posters keep going over the same old issues time and time again.

Stockmaiden, sadly what you stated are all ficticious lies and half truths designed to mislead and decieve, nowt new there.

104 days (Jan 16th thru April 30th) x 200 bopd = 20,800 plus the 15,750 reported in January 16th RNS = 36,550 barrels of oil for sale at the end of April.

36,550 x $43 = $1,571,650.

Above are approximate figures as we could get more than $43 or even wee bit less for some of it, latest RNS said we will be paid Daqing bench for the month it was produced, also we may have produced more than 200 bopd, but I like to be conservative.

Yes we know how much we get for our oil, plus the good point being stated in latest RNS is we will get Daquing average (Brent less 5%) for the month it was produced so much of the oil in storage will be sold at well above current oil price, benefits us hugely.

What we get: $43 per barrel based on Brent price of $70, given most of the oil in storage was produced with Brent at well over $70 we benefit, its all there but you need to do research.

OWL, Agreed, RNS stated selling at the average oil price of the month the oil produced, certainly benefits us,

So, now the NEGs can no longer deceive the gullible by saying the sales agreement will not be signed they are now trying to deceive any idiot that will listen that H1 is no where near as productive as we know it will be, guess what, they will be wrong about that as well.

ManxK, spot on, increase production by say 50-100 bopd and monitor sand, if sand ingress no worse over given period of time then increase production again rinse repeat until the sweet spot is found, BUY, as I said earlier the sand issue could disappear all by itself, or, there are chemicals that can be injected that bind the sand, either way we will have much higher production soon.

Seems our resident non plussed NEGs want to hog the board today with more ludecrous and outrageous idiot posts.

Mark Twain got it right when he said never argue with an idiot, it really is a complete waste of time.