Member Info for abzzba

Think Takeiteasy and Adw need to go shower, imagine they have peed themselves with excitement at seeing the sp 10% down, short lived joy i expect.

NEGS working hard, bringing in the reserve team as well, oh dear, all those hours wasted, this time next year double digit sp

Hamm, would certainly explain why the refinery has been granted exploration and expoloitation rights.

Extract from the link below.

Mongol Refinery can carry out petroleum exploration and exploitation activities

Special permission for petroleum exploration and exploitation activities will be granted

By establishing this strategically important oil refinery, the national economy of Mongolia will be-come independent from energy imports, and fuel and commodity prices will be stabilized in the country.

https://envoyexcellency.com/mongol-refinery-project/

HUGE potential.

https://www.businessdestinations.com/featured/mongolias-vast-reserves-make-it-the-saudi-arabia-of-asia/

Investors need to wake up to GOBI potential, obviously we need to wait see how the team interpret the GOBI BEAR 1 well and drilling logs however with 34m of reservoir quality sandstone it really could be huge, twice the production of H1. Fingers crossed for GOBI.

See Oct 7th RNS.

Take heart the NEGS really have no idea what they are talking about, Heron 1 tested at 821 bbl/d unstimulated, See 24 Oct 2019 RNS.

24 Oct 2019 RNS Paragraph as follows "This is exceptional for the Tamsag Basin where only a few of the hundreds of wells drilled have had the capability to produce oil to surface on natural flow. The peak production recorded during the test was 821 barrels of oil per day ("bopd")".

22nd August 2024 RNS states "The Heron-1 oil discovery well has been re-entered, stimulated and completed for production in a trouble free operation.".

So during the 2019 well test it flowed at 821 bbl/d unstimulated and in August 2024 it was stimu-lated prior to completion, that stimulation in August almost guarantees better than 821 bbl/d flow/production rates.

This is the reason i am confident we can achieve a daily production rate of circa 800 bbl/d from H1 once remedial works are completed in spring.

Patience required, 2025 will be the year of MATAD.

Takeiteasy, no need to pump this share, sticking to the facts is all we need to do, try it.

So many positives, so much oil.

Billyrvalentine. pretty much spot on summary, oil in the ground and Mongolia need it, MATAD have the know how to bring it to the surface, win win for everyone including investors.

Only unknown at the moment is how we fund 2025 drilling season and i am quite sure that is in hand, as usual we will find the money to fund us whether that be a loan, partnership, DQE deal, JV or the fund raise that no one really wants.

The good thing being, assuming H3 & H4 produce reasonable amounts of oil we become financially self sustaining, i really do not think expecting around 800+ bbl/d from H3 & H4 combined is being overly optomistic based on the fact an unstimulated H1 flowed 821 bbl /d.

On another note, looks quite certain we can expect masses of disruption to this board again today with the board flooded with rubbish by a few negative and disruptive posters.

Sageman

Affraid thats due to some pretty intellectually derelict posters.

Rio Tinto certainly seem keen to explore and adopt green hydrogen in their various processes, i guess if your a big enough and rich enough business costs are less important.

https://research.csiro.au/hyresource/sumitomo-green-hydrogen-production-and-rio-tinto-decarbonisation-pilot-project/

Doc, who ever bought shares at 2.8p will be very happy to sell them in the not distant future for a damn site more, you are aware shares go down as well as up ??.

I agree with takeiteasy, only MB knows, and in 16th January RNS MB said.

"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".

So cheap solution to the sand problem it is "if the well continues to perform in this way".

When an E&P drills into a new field / formation and starts producing its always a learning curve, how will the oil flow, how will the reservoir react, what pressure will we get or do we need to lift the oil out with a beam pump, will there be sand, ifso what grain size, will it be abrasive sand or soft sand, be assured there is a known remedy for whatever these wells throw at us and with every well MATADs understanding of Heron will increase, happy days ahead for investors starting in a few short months.

From 14th November RNS " 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.".

So 821 bopd unstimulated.

We also know from the 22nd August 2024 RNS it was stimulated prior to completion, think most realise a stimulated well flows more than an unstimulated well.

Roll on spring, lets get to work.

2 more Heron wells (H3 & H4) at 450 barrels a day each is a reasonable assumption/ average given H1s potential of 800 bbl/d, could be more, could be bit less.

I am AIMing high, 30p plus post refinery

Mongolia daily average crude oil production has been falling since 2015, we know the refinery needs 30,000 bopd to run at 100% capacity so Mongolia has got to get drilling between now and the refinery start up date, oil wells need drilled ASAP, MATAD more than happy to help in this, obviously that oil will go to China until the refinery is ready to accept it, fact is they need to start drilling ASAP, you cannot magic up producing oil wells, it takes time.

TAMSAG Basin is shared between PC and MATAD (Heron field), each have just over 200 sq/km. Since 1995 PC have drilled over 300 oil producing wells in their half of the TAMSAG basin, the majority of PCs older wells are played out, MATAD have one producing well right now (H1), currently flowing at over 200 bbl/d but with inexpensive remedial work in spring expected to produce much more, H2 well likely to come on stream in spring bringing MATADs producing well upto 2 with many many more to follow.

Mongolia daily production graph half way down the page at the link below.

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

Mongolia need 30,000 bopd every day for the refinery, they need wells drilled ASAP as you cannot magic up wells the month before the refinery needs the oil, invariably wells do not deliver their full potential right out of the box, often as not remedial tweaks are required to get the well flowing at best capacity, Mongolia can run the refinery at 30 or 40% capacity but their goal is to be self sufficient, they cannot be self sufficient running the refinery at 40% capacity.

Refinery oil requirements as below.

30,000 x 365 = circa 10,950,000 barrels per year.

Crude oil production in Mongolia peaked in 2015 at just under 9 million barrels a year.

In 2022 Mongolia produced around 2.5 million barrels a year.

PC started drilling in TAMSAG Basin (Heron is TAMSAG Basin) in 1995 so high percentage of PC earlier drilled wells are running dry, Mongolia need MATAD to get busy, its in Mongolia’s interests to see MATAD drill many many more wells ASAP.

See Mongolia yearly oil production at link below.

https://www.petromatadgroup.com/mongolia/oil-in-mongolia/

WOS, i will stick with my 5p by June prediction but at the same time hope your right.

Seems Mr Thornogson gets his wish of the RNS next week, few more nice rises before the RNS means higher price to bounce up from, always good.

Question: Why has the refinery operator been granted exploration and exploitation rights by the Mongolian government ?.

Extract from the link below.

The refinery operator would be an ideal partner for MATAD, quite sure they would have no trou-ble pushing things through the Mongolian governments procedures, see below.

Mongol Refinery can carry out petroleum exploration and exploitation activities

Special permission for petroleum exploration and exploitation activities will be granted

By establishing this strategically important oil refinery, the national economy of Mongolia will be-come independent from energy imports, and fuel and commodity prices will be stabilized in the country.

https://envoyexcellency.com/mongol-refinery-project/