Member Info for abzzba

Jimmythebrush, MB also mentioned during the investors meeting that new technoques would be brought into Mongolia, seems our trolls are a bit behind but thats nowt new.

You might ask why this is reposted, simple, there is only one set of truthful facts, these are detailed below, no matter what Stas, Adw, Epsen, Gust, xx proinvestor etc etc etc want you to believe all the below is checkable, unlike their posts which are works of fiction.

We know two costs. To drill a well costs 1.5 million, we also know the entire cost to bring a well to production is 4 million, To bring a well to production includes 3 processes which are as follows:

1: Drill the well, (1.5 million fact)

2: Well test. (1.25 million est)

3: Completion. (1.25 est)

So fair to say Well test and completion costs 2.5 million. (have estimated 1.25 million for each)

H1 was drilled and well tested in 2019, this year H1 costs were completion only so we could start producing so H1 costs this year around 1.25 million.(note surface completion equip-ment such as beam pump & compressors were onsite before the infamous fund raise so paid for from funds before the raise).

H2 was drilled and well tested, it has not been completed so H2 costs around 2.75 million.

(H2 came in drilled a week early so I would assume slightly lesser cost than above.)

Gobi 1 was drilled, not well tested and not completed so Gobi 1 cost 1.5 million.

Fair to say H1, H2 & Gobi 1 total maximum costs this year around 5.5 million.

If this 5.5 million was paid from the fund raise of 9 million then we have 3.5 million left plus whatever was in the bank at fund raise time less day to day costs, my estimate would be we have 3 million in the bank today.

H1 is now on day 47 of production at circa 250 bbl/d.

250 x 47 x circa $68 = $799,000 (less costs) of oil stored ready to be sold.

Remember we have over 60 million in historical exploration costs to recover, PCs Mongolia deal similar to ours but after reclaiming costs they only paid 24% of oil to Mongolia.

I do not think we need fund raise just now but we do need details on how we will fund 2025 drilling season and remedial works to H2 and GOBI 1, though I would prefer to get a few more wells up and producing in the Heron field before spending cash on GOBI 1. (unless they are certain !!)

As per the 14th November RNS, H1 has the potential to produce at or around 800 bbl/d how-ever it needs a higher pressure rated wellhead to do this safely, quick, straight forward job for April 2025, no doubt our first task along with remedial works to H2, re-perforation has been mentioned by MB, great if that’s all it needs, failing that fracking would probably be on the cards, hydraulic fracturing cracks the formation for several hundreds of metres in a radius around the well so seems likely we would communicate/enter H1 high pressure reservoir and H2 would benefit from that high pressure, sure The Team will be considering this.

Meantime back at the day to day LSE chat board we have the usual trolls beavering away frantically trying to de-stabilize investors and shouting sell, sell, sell, sounds like they are worried, guess their plan i

Troll rota.

Seems stas and xxproinvest aka Mr Microsoft CoPilot on duty today. Gusto has the day off or a maybe just a half day, not heard from liar pants yet, maybe keeping his head down.

Their efforts really do strike me as becoming desperate.

Stas, can you advise your oilfield drilling and completions credentials, how many years of oilfield experience do you have, which companies have you worked for etc etc, basically what qualifies you to post on the geology of H2 or the remedial actions required to induce a commercial flow rate.

Stas, quite sure MB will be considering his options, fracking H2 will be one of these options, you forget the Mongolian weather beat us, H2 suspended until next year, watch this space, for info as H2 is drilled and cased to the bottom it lends itself better to the fracking option (assuming re-perforation does not work).

Watch this space.

Meantime you and your troll friends will continue with your feeble desperate attempts to trash all things MATAD, as i said getting desperate comes to mind.

Forgot to mention H2 already drilled and cased to bottom so costs not to high whichever option we go with.

Stas, all we need do with H2 is Option 1: frack it, the resultant cracking will radiate hundreds of metres outward so we communicate with H1 high pressure well thus alievating pressure on H1 and bringing H2 into play.

Option 2: Horozontal drill along our H2 5 metre pay area back towards H1, same result, brings H2 into play and horozontal wells are normally around 5 or 6 times more productive than vertical wells, either option works for us.

That said MB mentioned re-perforation of H2, that may be the REALLY cheap and quick option that will allow H2 to flow at commercial rates.

Your arguments are quite laughable and getting more desperate every day.

Stas, live and learn, suggest you read the below link and refer back to my H1 (parent / H2 (child) well posts.

Why you continue to post gibberish is beyond me (well it not i know why). Getting desperate ?.

https://www.hartenergy.com/exclusives/old-school-meets-new-fracking-technology-could-unlock-billions-barrels-worldwide-26997

Doc, agreed, Stas “ H2 results strongly suggest the Heron field is compartmentalised” is total gibberish and has no meaning, designed to deflate investors, he is part of the troll gang.

Some good news before xmas would be most welcome

Great news, one big step closer.

Gusto, Adw, Stas, Espen, not a clue about oilfield and all make silly assumptions.

Rather than listen to them read what Schlumberger the biggest oil services company in the world says at the link below.

H1 / H2 a perfect child / parent well pairing. Think we should leave it to the experts,

https://www.slb.com/business-solutions/infill-well-optimization

FTSE, why would we want to sell, we have oil riches, why give them away.

Well costs. The FACTS

We know two costs. To drill a well costs 1.5 million, we also know the entire cost to bring a well to production is 4 million, To bring a well to production includes 3 processes which are as follows:

1: Drill the well, (1.5 million fact)

2: Well test. (1.25 million est)

3: Completion. (1.25 est)

So fair to say Well test and completion costs 2.5 million. (have estimated 1.25 million for each)

H1 was drilled and well tested in 2019, this year H1 costs were completion only so we could start producing so H1 costs this year around 1.25 million.(note surface completion equip-ment such as beam pump & compressors were onsite before the infamous fund raise so paid for from funds before the raise).

H2 was drilled and well tested, it has not been completed so H2 costs around 2.75 million.

(H2 came in drilled a week early so I would assume slightly lesser cost than above.)

Gobi 1 was drilled, not well tested and not completed so Gobi 1 cost 1.5 million.

Fair to say H1, H2 & Gobi 1 total maximum costs this year around 5.5 million.

If this 5.5 million was paid from the fund raise of 9 million then we have 3.5 million left plus whatever was in the bank at fund raise time less day to day costs, my estimate would be we have 3 million in the bank today.

H1 is now on day 47 of production at circa 250 bbl/d.

250 x 47 x circa $68 = $799,000 (less costs) of oil stored ready to be sold, remember we have over 60 million in historical exploration costs to recover, PCs mongolia deal similar to ours but after reclaiming costs they only paid 24% of oil to Mongolia.

I do not think we need fund raise just now but we do need details on how we will fund 2025 drilling season and remedial works to H2.

As we now know from the last RNS H1 has the potential to flow around 800 bbl/d, MB advised in the LSE interview we require higher rated wellhead as H1 has encountered higher pressures than any well seen in Mongolia, fitting a higher rated wellhead is a fairly inexpensive and straight forward job that should take no more than 2 days, its unfortunate this cannot be done until the new drilling season in 2025 but at least we are producing 250 bbl/d meantime, question is how many more wells like H1 are there in our Heron field.

H2, requires remedial work to increase flow, again winter beat us so these remedial works carried over into 2025.

GOBI 1, we are advised no matter how the data/drill logs are interperated they say there is oil present, awaiting an update but quite possible a quick frack job is all that it needs,

All in all things looking good, fair to say 2025 will be the year of MATAD.

Dont let then trick you into selling.

There will be no raise this month, quite simply its not needed, we have ample cash in bank for day to day running costs, the sp will drift until we get some good news, that could well be soon and i hope it confirms MPRAM have signed of on the sales agreement, this puts us a big step closer to being able to sell our $700,000 of accrued oil, going forward H1 daily production of 250 bbl/d is ample to meet daily running costs.

We also expect news of new block awards.

Additionally we need to know how we will fund 2025 drilling and remedial works though i do not expect to hear about this for a month or two.

Simply put for the not so bright (guess who) once we perform (2025) remedial works to H1 and increase output, drill a few more wells and get them onstream plus H2 remedial works and put that into production we will then be home and dry and self sustaining finacially.

Y Alam, take a look at 5 year graph, price comes down, price goes up, now we are producing, by end 2025 we will be producing much much more, keep the faith, hold your shares and you will make a profit.

Just wait like everyone else has to, it will come good, even great

Y alarm, if you were drowning would you swim deeper or try reach the surface, simple question.

PSA Mongolia.

https://gratanet.com/web_files/publication/3056740752930328153.pdf

But who knows, MB could side step everyone and create an agreement with some of the new players entering Mongolia, nice to have options, nice to be a producer, even a month old one.