Member Info for abzzba

Glad i am not invested in HEX

Badprophet, your quite right, its time adw, espen, legalPcat, investor, gusto, and yourself stopped repeating the same old doom and gloom, becoming boring, not one of you have anything new to say, its all the usual, aka fund raise needed, H2 a failure, H1 a failure, no sales agreement, becoming tiresome.

Hamm, rather than write all the pluses in one paragraph try laying it out as , Point 1, Point 2, Point 3 etc etc, likes of Adw & Espen & Co cannot cope with too much info at one time, indeed Adw struggles with the English language so if you can break it up into syllables even better.

Wigster, i dont filter anyone, i enjoy reading the drivel they put up here, gives me a laugh, i guess thats what clowns are for,

Since June we have drilled Gobi 1, drilled and tested H2 and completed H1, cost of these was around 5 million, adw seems to think we paid for this from $0.77 million cash we had in the bank in June, what a clown, adw, your circus needs you.

Not enthralled with eco projects but if it means keeping the local eco numpties onside guess we need to accept it.

MATAD cash.

Money that was in bank June is unknown, plus 9 million fund raise, less:

1 million spent on H1 which was completion only, drilling and well test costs were in 2019.

Less drill Gobi 1.5 million.

Less H2 drill and well test @ 2.5 million.(no completion costs).

Above equals 5 million spent on H1, H2 and Gobi, add on day to day costs so around 3 million plus in the bank just now, plus to be added H1 oil once sold, seems very very likely we will be shipping our oil by January at the latest,

H1 producing around 250 bbl/d, by end of April there will be 6 months production so:

250 bbl/d x 180 days = 45,000 barrels of oil for sale @ circa $70 = $3,150,000.

Latest interview by MB told us H1 pressure highest in Mongolia, these pressures never seen in Mongolia before, our surface wellhead needs replaced to handle these higher pressures, once uprated wellhead fitted we can open the choke resulting in higher production, potential for H1 to flow at or around 800 bbl/d, nothing to do with well pipework as espen would have you believe.

H2 requires remedial work to improve commerciality / increase flow rate, MB latest interview suggests re-perforation may well be an option, to re-perforate simply lower explosive tool via wireline and explode it down hole, very quick, very cheap to do, 2 days max.

We need news on how we fund next years drilling, DQE deal, soft loan etc, as demonstrated by H1 Heron field has massive reserves MB must take adavantage and priorotize revenue generation above everything else for at least 2025 and 2026.

Sales agreement agreed with PC, need MPRAM to sign off.

Adw, Espen, Legalpssycat, Investor, Gusto, doc , ace24 etc etc etc all out to trick you !!!!, they have their own agenda and it has nothing to do with creating value for MATAD investors.

OWL, they use charts aka crystal balls, hilarious.

Seems like its Petrovis turn to be the "reason of the day" not to invest in MATAD, strange how new reasons pop up every day.

As Mark Twain said.

“Truth is stranger than fiction, but it is because Fiction is obliged to stick to possibilities; Truth isn't.”

He also said:

“Never argue with an idiot. He will drag you down to his level and beat you with experience.”

Especially true when dealing with the NEGS on here, GUFFAW !!!!!

Telron2, think Adw, Espen, Legalpssycat, Investor, Gusto, doc etc etc etc have been watching Wall Street on tv,

dont let them trick you !!!!

hard to believe the effort and man hours being put into trashing matad and its share price, can only assume there is a pot of gold at the end of the rainbow, why else would adw, legal*****cat, investor, gusto, espen, doc etc etc etc all be on here 12 hours a day when they are not invested.

Re-perforation basics. Look down page for ""Wireline conveyed perforating".

https://www.slb.com/resource-library/oilfield-review/defining-series/defining-perforating

H2 requires remedial work to improve commerciality / increase flow rate, MB latest interview suggests re-perforation may well be an option, to re-perforate simply lower explosive tool via wireline and explode it down hole, very quick, very cheap to do.

MATAD cash.

Money that was in bank June is unknown, plus 9 million fund raise, less:

1 million spent on H1 which was completion only, drilling and well test costs were in 2019.

Less drill Gobi 1.5 million.

Less H2 drill and well test @ 2.5 million.(no completion costs).

Above equals 5 million spent on H1, H2 and Gobi, add on day to day costs so around 3 million plus in the bank just now, plus to be added H1 oil once sold, seems very very likely we will be shipping our oil by January at the latest,

H1 producing around 250 bbl/d, by end of April there will be 6 months production so:

250 bbl/d x 180 days = 45,000 barrels of oil for sale @ circa $70 = $3,150,000.

Latest interview by MB told us H1 pressure highest in Mongolia, these pressures never seen in Mongolia before, our surface wellhead needs replaced to handle these higher pressures, once uprated wellhead fitted we can open the choke resulting in higher production, potential for H1 to flow at or around 800 bbl/d, nothing to do with well pipework as espen would have you believe.

We need news on how we fund next years drilling, DQE deal, soft loan etc.

Sales agreement agreed with PC, need MPRAM to sign off.

Adw, Legalpssycat, Investor, Gusto, espen, doc etc etc etc all out to trick you !!!!

Hamm, i am happy as H1 demonstrates the potential of the Heron field, my view is DQE deal would be safer for MATAD but we need to give away profits to DQE, my 15 or 20 million loan preference is riskier but we keep 100% of what we find, we only need to find 3 or 4 more H1s then the revenue from these would be self generating going forward.

Creating revenue must be the way forward in 2025/2026.

Happy to hold at these levels but would prefer they get some sort of loan rather than share issue, 5 wells = 20 million loan, money enough coming from H1 to pay day to day costs and more when choke opened up.

But MB must concentrate on revenue generation, no wild cat drills.

I guess it could go lower in the next few days, but its going higher in the next few weeks, months and years, think i will hang about and wait.

When did well cost jump upto 4.5 million, thought it was 4 million.

I have amended my post refinery price from 35p to 33.5p due to the battering the sp has taken in recent weeks, have a good day all !!!!.

No point butting heads with the NEGS, their heads are too dense.

Manx, i tend to agree, lot more info required however i suspect much of detail we want will be released via RNS rather than an LSE interview.

My prime concern is funding for 2025, whether that be DQE agreement, soft loan or other means, with the potential H1 has shown through the pressures and expected flow rates PC ears must have pricked up, H1 potential far greater than any well they have, also silly to think that from Herons 214 sq/km area we picked out the ideal spot for H1, much more likely there will be wells with even better production rates in the 213 sq/km we have not drilled.

Correction to typo below, sales agreement completed and awaiting signature from Mongolia.