Member Info for abzzba

ManxK, i am thinking along the same lines, just a matter of time.

Thought I would detail just a few of the lies and half truths spouted by the NEGS & Stock Bashers.

1: H1 pressure fluctuations will cause severe well problems, limit production, shorten well life and need major surface modifications. (none of this was true, in the AGM MB confirmed the pressure has stabilized and is no longer an issue).

2: PC facility XIX storage for our oil is limited, H1 will have to stop production. (Not true, MB stated plenty of storage available for months to come).

3: PC don’t want our oil due to sand contamination (not true, we are still trucking our oil on a daily basis to block XIX underground storage facility).

4: H1 sand issue cannot be fixed (not true, MB clearly stated in the AGM that Petro China high producing wells had experienced similar sand issues which they rectified with sand screens, normal industry practise).

5: NEGs stated we had 1.5 million in the bank at end of 2024 (Not true, MB confirmed 3 million during AGM).

6: Negs say Gazelle no oil (Not true, 17th Oct 2019 RNS clearly states . 3 metres of net oil pay in good quality sandstone).

7: Negs say 2025 drill campaign has been postponed this year (not true, 2025 initial works were clearly outlined during the AGM)

8: NEGs infer as we have not “fixed” H1 yet its due to the fact it cannot be fixed (untrue, everyone aware of work limitation due to harsh Mongolian winter, work starts again in spring).

9: Negs said we would be left with 30 or 35 dollars a barrel when we sold to China (Not true, MB confirmed we get Net $43 based on Brent at $70.)

Anyone spotted a trend here ?.

Certainly genuine holders seem much less worried than the numerous NEGS.

Proquo, agreed, indeed i am very happy with the low cost increase revenue route MB has come up with, though my "guess" would be three producing wells and nearing 1000 bbl/d by year end.

However if H1 starts to deliver 500+ bbl/d in April we may have enough from H1 revenues for a drill (H3) later in the year.

And at $70 Brent we will get $43 net, not the 30 or 35 dollars some wanted us to believe.

Adw, the 14th November RNS gives a pretty clear idea of what MATAD are expecting in the first paragraph.

"""" Heron-1 is producing well with maximum deliverability estimated to be similar to or greater than the 821 bopd achieved on drill stem testing in 2019."""".

Maybe your understanding of that paragraph is different to mine.

Thorn, there are no pressure issues now at H1 listen to 36m 26s of AGM

Thought I would detail just a few of the lies and half truths spouted by the NEGS & Stock Bashers.

1: H1 pressure fluctuations will cause severe well problems, shorten well life and need major surface modifications. (none of this was true, in the AGM MB confirmed the pressure has stabilized and is no longer an issue).

2: PC storage for our oil is limited, H1 will have to stop production. (Not true, MB stated stated plenty of storage available for months to come).

3: PC don’t want our oil due to sand contamination (not true, we are still trucking our oil on a daily basis to block XIX underground storage facility).

4: H1 sand issue cannot be fixed (not true, MB clearly stated in the AGM that Petro China high producing wells had experienced similar sand issues which they rectified with sand screens, normal industry practise).

5: NEGs stated we had 1.5 million in the bank at end of 2024 (Not true, MB confirmed 3 million during AGM).

6: Negs say Gazelle no oil (Not true, 17th Oct 2019 RNS clearly states . 3 metres of net oil pay in good quality sandstone).

7: Negs say 2025 drill campaign has been postponed this year (not true, 2025 initial works were clearly outlined during the AGM)

8: NEGs infer as we have not “fixed” H1 yet its due to the fact it cannot be fixed (untrue, everyone aware of work limitation due to harsh Mongolian winter, work starts again in spring).

Anyone spotted a trend here ?.

Thankfully 500 bopd at H1 after sand screen fitted, maybe even more, Adw lies as usual.

Investor, agreed, no reason production cannot be increased significantly after the sand screen is fitted, ps my transcript does not distinguish who is asking question or answering, i will go through it and verify against the time stamps but got few things on today.

H1 currently choked back to 200 bopd due to sand.

H1 sand screen will be fitted early April, valves will be opened and we will up production to circa 500 bopd by the end of April, (no i cannot prove that but its what normally happens at an oil well that is bringing sand up, its why sand screens were developed and why PC use them to good effect in their high producing wells in the TAMSAG Basin as stated in the AGM).

Proquo, deep breaths, jimmidaftbrush cannot help himself.

I have a transcript of the AGM, going through it piece by piece, thought i will start with the previously reported pressure fluctuations which are no longer an issue.

Transcript below.

36:14

Referring to the 14th of November RNS stating high pressure fluctuations of

Heron one are these still causing issues and if so how will matad or pet matad

rectify the issue

36:33

MB states: The well is pretty much cleaned up and the pressures are stabilizing so the issue has uh Gone Away.

SM, all investors should be really thankful you have no idea what your talking about.

Can you enhance on the problems we might face fitting a sand screen to H1 ?.

Thornogson, another well drilled really close to H1 can/could cause problems with H1, we have been through this before in previous posts few months ago with Hamm (parent/child wells).

Hamm gone AWOL ?

https://www.hartenergy.com/ep/exclusives/challenges-parent-and-child-wells-181028

Thor, one of my questions regards H1 high pressure was answered by MB, high pressures are no longer an issue at H1

Adw, as i stated yesterday (several times) all the latest news (Bloomberg/Rigzone etc) from around Sept/Oct 2024 states the refinery will complete around March 2026, this includes a statement from Engineers India CEO in Sept 2024 confirming this.

However in light of MB statement yesterday there may be some doubt about that, case of wait for more news.

Meantime its good to know we have a ready market for our oil in China.

https://www.bnnbloomberg.ca/business/international/2024/09/11/mongolias-first-17-billion-refinery-to-be-ready-by-march-2026/

Doc, with pleasure, see below extract from 17th Oct 2019 Gazelle RNS.

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

The Gazelle-1 well has been drilled with the DQE Rig 40105 to a total depth of 2550 metres and wireline logging has been completed. The Lower Tsagaantsav reservoir objective was encountered at 2280 metres, 20 metres deeper than the pre-drill prognosis. The interval penetrated was shale dominated and no hydrocarbon pay was identified on the logs. In the Upper Tsagaantsav reservoir objective, good wet gas shows were recorded throughout a predominantly shale prone section. 3 metres of net oil pay in good quality sandstone have been defined on the logs.

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

Summary: MATAD expected oil in the Lower Tsagaantsav reservoir but actually found it in a 3m pay area of the Upper Tsagaantsav reservoir, hopefully simple enough to understand for non oilfield readers.

Thor, agreed, stick to the sure things and increase revenue.

Doc, maybe if you read and understood the Gazelle RNS you would understand it a bit better, time researched and all that guff though you do need a degree of understanding which i am not sure you have.

Billyrvalentine, would agree new wells will not be drilled due to lack of funds but i think it more importantant at this time that MATAD cement its position and get the best production from H1 they can, reading the Gazelle RNS is seems nailed on to be a commercial producer but probably around 200 bopd, H" and GOBI are the ones to watch, if either one comes in we are virtually self sufficient money wise, a new well drilling program will take a partner with deepish pockets.

H1 & Gazelle should see us producing around 700 bopd plus,

700 x 43 x 365 = $10,986,500

And with Donald now President, stabdby for action, could well be some hefty jumps in the oil price in the near future.