Member Info for abzzba

Thinking about it, we could have sold Heron by year end.

Agreed, circa 1000 bopd by year end (or earlier) looking quite possible after these reworks.

1000 x $43 x 365 = $15,695,000.

H1 rework completed by mid April should see us producing half of that.

Laughingstock reckons the next two RNS will tell us about delays and placings (post 01.16), roll on next week as i fully expect an RNS in the coming week but not about delays or placings but about H1 workscope and maybe even H2, Gazelle or Gobi.

We are certainly due an RNS (or two), sales agreement, H1 remedials/fitting sand screen, work scope for the other 3 wells, H2, Gazelle & Gobi Bear 1, lot of news due, some certainly imminent.

Probably to early to hear about JV/buyout discussions.

Nice million buy just went through.

2025-03-28 15:24:09 1.85 1,000,000 £18,500

Master, as a wise man said, “It's better to keep your mouth shut and appear stupid than open it and remove all doubt”

I for one am very happy with the MATAD team and have no doubt they are working hard behind the scenes, some may not understand that or even realise the amount of work that goes on behind the scenes, quite typical of those with no industry knowledge.

MATADs half of the TAMSAG basin has 60 million barrels of recoverable oil, more if newer drilling techniques are employed, at $73 barrel = $4,380,000,000 (4.3 BILLION Dollars) sitting waiting to be sold.

Adw, the 48% failure rate (as you put it) is based on the link i put up and covers PC TAMSAG basin field right back to when it was first licensed to SOCO in 1995, we know SOCO did not have 3D seismic and were essentially just poking holes in the ground, seems your twisting the facts again, but i guess we should expect that from a liar like you, fact is Petro China success rate will be far better.

Current drilling techniques with 3D seismic deliver much better success rates than SOCO would have achieved between 1995 and 2005 when they sold the field to Petro China, somehow i doubt you will be interested in this.

Adw, surely your not naive to expect every drill to be commercial, please, get real.

Between 2009 and 2021 Petro China averaged around 14,000 bopd from their half of the TAMSAG basin (Mongolia crude production figures). Nearly 90% of Mongolia’s oil production comes from PCs half of the TAMSAG basin.

As a ball park 14,000 x 365 = 5,110,000 barrels of oil per year.

We know MATADs drilling and operational costs you can be sure PC are paying quite a bit less.

5 million barrels a year even at MATADs net profit of $43 per barrel (based on Brent at $70) its easy enough to see how much Petro China are making from their half of the TAMSAG basin.

Absolutely no reason MATADs half of the TAMSAG will not do the same.

Given Mongolia’s new refinery needs 30,000 bopd to work at 100% capacity they need to ramp up drilling 200/300%.

PC production figures taken from the below link, halfway down the page, Daily crude production of Mongolia.

Do the calculations yourself, the figures are HUGE !!!.

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

NEGs desperation increasing daily as we near work season and remedial work on H1, just days away now, rig probably being serviced right now.

Thornogson, agreed we are treading water however if we get the expected result with H1 post sand screen fitting and H1 can up production to circa 500 bopd the good thing is we can do better than tread water for as long as it takes, however Mongolia cannot do this as they need an accelerated drilling program in place ASAP.

MATAD hold the cards.

H1 oil in storage now approaching a value of 1.25 million, saleas agreement could drop any day.

Between 2009 and 2021 Petro China averaged around 14,000 bopd from their half of the TAMSAG basin (Mongolia crude production figures). Nearly 90% of Mongolia’s oil production comes from PCs half of the TAMSAG basin.

As a ball park 14,000 x 365 = 5,110,000 barrels of oil per year.

Absolutely no reason MATADs half of the TAMSAG will not do the same.

Given Mongolia’s new refinery needs 30,000 bopd to work at 100% capacity they need to ramp up drilling 200/300%.

Mongolia 2009-2021 oil crude production figures take can be found at the link below. you can do the maths yourself, the figures are HUGE.

Halfway dow the page, Daily crude production of Mongolia.

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

Petro China are producing around 5,000,000 barrels a year from their half of the TAMSAG basin, to suggest we would take anything less than 150 million is a joke (or de-ramping)

What if.... we partner with the refinery operator and receive funding from Mongolia !!!!

What if.... the sp returns to 2011 price of 217p. Lots of "what ifs"

News soon, H1 remedial works completed very soon, 5p by end of June should be no problem

News due.

Signed sales agreement = +15/20% minimum.

H1 sand screen fitted and H1 production increased to circa 500 bopd = +25/30% minimum.

After H1 its unknown which well will be reworked first, H2, Gazelle or Gobi Bear 1 all three are drilled and cased wells mentioned in the AGM, no doubt MB will choose the well with the best pay back potential.

MATAD confirmed they are discussing JV/Buy out with three companies at least, nigh impossible to guess the impact if a deal is agreed but would expect a considerable increase in the share price at the time.

We are now days from the start of Mongolias work season when the weather is mild enough for work to begin, first order of work is fit H1 with the sand screen, this is a very straight forward task that should complete in 4 to 5 days max, once done H1 production can be increased.