Member Info for abzzba

Jimmibrush, great shame you did not put the same effort into research.

Petro China purchased their TAMSAG basin field from SOCO back in 2005 for $93 million, at the time the field was producing only 350 bbl/d, at the time oil was around $47.

Latest data we have was published 2021/2022 and states PC had drilled around 600 wells and 311 had been brought onstream as producing wells, that was several years ago, pretty obvious PC have drilled the best looking areas and are now looking for fresh unexplored fields to explore, enter MATADs Heron field which is the other half of the TAMSAG basin.

MATADs Heron field is estimated to contain 60 million recoverable barrels of oil, more with new drilling technologies, MATAD obviously do not have the cash to develop the field quickly enough to suit Mongolias new refinery needs so the sale or a JV deal with PC would seem to suit PC, Mongolia and MATAD.

Case of watch this space.

Always best to stick to the facts rather that listen to NEGs/Basher lies and fake news.

1: Oil pipe line from TAMSAG Basin to refinery completes later this year.

2: Refinery builder stated Sept 2024 the refinery will be completed by March 2026.

Mongolia refinery needs 30,000 bopd to run at 100% capacity, right now Mongolia daily production is not enough to run the refinery at even 30% capacity, no doubt Mongolia will accept running the refinery at 30 to 40% capacity initially, but if they are to cut fuel imports they must get drilling and increase daily crude production by at least 300%.

We know Petro China half of the Tamsag Basin has been heavily drilled since 2005, MATADs half of the TAMSAG Basin (Heron field) is still unexplored, only two wells drilled.

90% of Mongolias oil comes from Petro China Tamsag field which is approaching end of life, best oil prospects already drilled, they need MATADs Heron field.

WOW, NEGS/Bashers working hard today, kinda makes me smile, they really must be absolute losers in life if this is all they can find to fill their day.

Isas, refinery build was 4 stages, EPC1 thru 4, EPC 4 being the final stage, we started EPC 4 last month when equipment shipped from India arrived.

Latest news still states March 2026 for completion.

On the remote Mongolian Plateau, there is an endless black treasure - oil. This land is like a knight in golden armor, waiting for people (MATAD) to unveil its mystery. However, the Mongolian knight faces a thorny problem: despite having such rich oil resources, it has to rely on imported refined oil due to lack of oil refining technology. This situation is like having a gold mountain but being unable to mine it, and can only watch others profit from it.

Arise Sir Michael James Buck.

Bloomberg refinery ready 2026.

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

Refinery write up new.

https://inf.news/en/world/bdb4f8d8e81c36c8dd6c86262308d239.html

Guys, the likes of Adw, Doc, corpse, badprohet, stockmaiden etc really do not have the mental capacity to understand the points you put forward, i would have thought this pretty obvious given their incessant 12 hour days on here when they do not own a single share in the company.

Why waste time on them, they are so obviously a mixture of complete idiots and liars, they cannot even come up with anything original.

Who in their right mind would sell when MATAD on the the verge of huge oil production, deluded.

Reality is::::::Why would i sell now when i can sell at 5p come June,

Reality is::::: Why would i sell at 5p in June when i can sell at 12p at the end of the year,

Reality is::::: Why would i sell at 12p in December when i can sell a lot lot higher post refinery.

Velocoraptor, As said previously, there are so many options/ routes to funding, really is a case of wait see which route MB selects.

Mongolia, unexplored rich in resources.

https://www.fluidexspain.com/en/eventos/trade-delegation-to-mongolia-2025/

Also at Davos, Mongolia and the European Bank for Reconstruction and Development (EBRD) signed a collaboration agreement that see them cooperate on solar, wind, and energy storage projects.

https://thediplomat.com/2025/01/mongolia-at-davos-2025-ai-and-emerging-industries/

Jimmydaftasbrush, you have same investment strategy as doc, buy shares, trash company, is this a new craze.

Jimmi the neg, if its a lot to take in try playing it frame by frame, might not tax your brain quite so much !!!

Jimmi the neg, your lesson for today, see below.

https://www.youtube.com/watch?v=duToyzpZqos

Good thing is H2 remedial / reperforation can probably be completed prior to H1 due to weather reasons, indeed H2 could be brought into production by mid April (with luck),

H2, case of wait see, who knows, 50/80/160 bbl/d, really is a case of wait see,

H2 fact, not NEG fiction, 9 min 23 sec of lse interview, for obvious reasons MB states reperforation may well be the next step for H2, if perforation has failed or partially failed oil will not flow from the reservoir into the wellbore.

Pretty cheap and easy fix, no rig required, lower gun downhole from truck mounted wire line and explode, retrieve gun be reeling it back to surface, job done, fix complete, one days work.

H2 fact, not NEG fiction, what was really said, check the LSE interview, MB actually said that at 30 bbl/d H2 was marginally commercial during the winter months, hence its commercial during the summer months, I would assume this is due to the costs of keeping our waxy oil hot and less viscous so it will pump easier during the winter months, it may never deliver the 800 bbl/d that H1 is capable of but H2 has a part to play, lets hope it also is a cheap and easy fix.

Always best to stick to the facts.

1: Oil pipe line from TAMSAG Basin to refinery completes later this year.

2: Refinery builder stated Sept 2024 the refinery will be completed by March 2026.

Mongolia refinery needs 30,000 bopd to run at 100% capacity, right now Mongolia daily production is not enough to run the refinery at even 30% capacity, no doubt Mongolia will accept running the refinery at 30 to 40% capacity initially, but if they are to cut fuel imports they must get drilling and increase daily crude production by at least 300%.

We know Petro China half of the Tamsag Basin has been heavily drilled since 2005, MATADs half of the TAMSAG Basin (Heron field) is still unexplored, only two wells drilled.

90% of Mongolias oil comes from Petro China Tamsag field which is approaching end of life, best oil prospects already drilled, they need MATADs Heron field.