Member Info for abzzba

Adw, i assume you have read January 16th RNS, i do understand those (like you) with ZERO oilfield know how struggle with understanding the technical issues that are mentioned but i would have thought the below was pretty clear.

Extract from that RNS below, also read twice where it mentions "programmed for the spring if the well continues to perform in this way", the sand issue is quite capable of disappearing all by itself, hopefully it has but if not then we fit a sand screen, as for production post screen (if needed) we know that H1 well tested at 821 bopd unstimulated and we know it was stimulated pre completion so expecting and estimating only 500 bopd is being very conservative (in my opinion).

"Production of oil from Heron-1 continues with the well on natural flow without the need for pumping. Stable production of over 200 barrels of oil per day is being maintained. At higher rates, reservoir sands are produced along with the oil and the installation of sand screens offers a cheap solution to this and will be programmed for the spring if the well continues to perform in this way. "

Adw says "Nobody knows what remediation they are going to carry out at H1, how much it’ll cost or what the end result might be", what an idiot, we know from a previous RNS that a sand screen will be fitted (if needed), those of us who understand what it takes and understand the costs can give a reasonably accurate estimate of 250k max for costs, we can also say with some surity sand screens work, this is the reason they are used in thousands of wells throughout the world and by our Petrol China neighbour in the Tamsag basin.

Estimating post sand screen bopd is trickier due to lack of detail but if we could produce over 200 bopd and keep the sand in check then I really don't see any reason we cannot produce 500 bopd with the screen in place, we know the well is capable of this.

Thor, seems a bit to complicated for our resident stockmaid to understand,

Think we can expect H1 update any day, my own expectations are we will see 500 bopd post sand screen, remember it flowed 821 bopd unstimulated and was stimulated pre completion

We know that the H1 sandscreen cost is circa $250k, as MB stated in January RNS, it's an inexpensive fix for H1, H2 is unknown as yet but reperforation was mentioned during LSE interview, would be great if that's all H2 needs as reperforating will be sub 100k.

H1 especially offers a huge return on remedial work costs. Happy days.

Roxy, good result with H1, say 500 bopd or more plus Gazelle looks odds on as a producer based on the RNS, H2 we still need an update, GOBI, 34m reservoir quality sandstones, ok, oil migrated but it's there, it has not evaporated,

RNS

Petro Matad is required to submit an invoice for each month's production on or before the tenth day of the subsequent month and payment will be made during the last week of the month based on the average benchmarked price of Daqing crude oil for the month of production.

Wonder if we will benefit from previously higher oil prices as the oil invoiced was produced in months when the oil price was higher, just a thought.

I suspect any buy out or JV would relate to the Heron field only, MATAD would continue exploration of Mongolia, ie block VII, GOBI etc etc.

No debt, 1.4 billion shares in issues, so very few compared to many, onwards and upwards despite what the FUD distributors say.

I expected 15 to 25 % on the signature, I expect 40% plus once the sand screen is fitted but could be lot more dependent on bopd achieved.

Hold 12 to 18 months no saying what this could reach, 50p plus easily attainable in my view.

Low life NEGs still wittering on with outrageous lunatic claims,.

We are on our way, these parasites will be left behind, GLA genuine holders,

Still on for 5p by June and 12p by year end.

Indeed good news, onwards and upwards.

With the right RED DOT its happy years ahead, not days !!.

Adw, good of you to be honest enough to admit you have no idea what you are talking about, hopefully you continue in those honest replies.

Or maybe the sand is less of a problem now, it happens, cast your mind back to the H1 pressure spikes that all the oilfield illeterate NEGs jumped on, like i said at the time, the pressure spikes would stabilise given time but you lot were determined H1 was doomed.

It really does make a difference when you actually have oilfield experience, hence why the oilfield illiterates like Adw, Doc, stockmaid, unnd etc etc speak utter rubbish most of the time.

Also, 16th January RNS clearly states.

""Stable production of over 200 barrels of oil per day is being maintained. At higher rates, reservoir sands are produced along with the oil and the installation of sand screens offers a cheap solution to this and will be programmed for the spring if the well continues to perform in this way. "".

Who knows, maybe the sands have disappeared or at least are now much less of a problem like the pressure spikes did ?.

AGM, timestamp sand screens 10.34, also mentioned something else but i will let you find that for yourself.

Just to correct some of the lies posted by this "individual".

* H1 barely delivering 200bopd and with issue///H1 choked back due to sand, sand screen to be fitted, expected production after sand screen 400/500/600+ bopd.

* H2 suspended///H2 suspened late November due to harsh Mongolian winter when no work can be done.

* Gobi no oil show/// migrated oil from 34m reservoir quality sandstones.

* Matad had 10 years plus and £174million of funding/// oil prospecting is a costly game, but now we know where it is.

* No JV deal despite ongoing conversations over the years/// recent developments we are now speaking to at least 3 different companies.

* The CEO signed up for new Borzon Block with a financial commitment of £14.9million over 8 years /// this is a block we can walk away from if we want to, but why would we.