Member Info for abzzba

Following the award of the Exploitation Licence, which has an initial 25 year term, the rest of exploration acreage has been relinquished.

https://www.petromatadgroup.com/operations/assets-overview/

H2 in the bag, will be flowing this year, cannot imagine why some would try injecting doubt.

Background

Petro Matad's Heron-1 discovery is located in Block XX. An Exploitation License over the Heron discovery was awarded in July 2021 covering an area of 214km2 (52880 acres) with the remaining acreage relinquished

Given Heron acreage 60 wells very possible, yes it will cost a lot of money but look at the returns.

WOS, you say ""expect Multiple of Multiple of price with this! "", i agree, 2.55³ = 16.58p, will do for 2025,

Assuming good news H2 RNS this week then time enough to get H2 into production, long term weather forecast looks good and on our side.

Generally speaking, oil with an API gravity between 40 and 45° commands the highest prices. Above 45°, the molecular chains become shorter and less valuable to refineries. Crude oil is classified as light, medium, or heavy according to its measured API gravity.

The 2019 Heron discovery wildcat flowed at 821 bpd of 44 degrees API oil, the third best well test in Mongolia. The Heron field was estimated in-place resources of 194 million of oil, of which 33 million to more than 60 million barrels is deemed recoverable.

Given Mongolias need for refinery oil a PSC re-negotiation may be on the cards or a sweetner at the very least, said before, say again, can see a lot of news over the coming winter period.

H2 must be commercial, they would have known much sooner if not commercial, question is what does it flow at, an RNS this week still leaves time for completion pre winter shut down, rig not required for completion so i dont see a problem getting this onstream and producing over winter, all ads up.

As Thornogson said earlier, once we have 4 wells producing we are making or nearly making enough to pay for the next well or there might be DQE deal or PC JV.

I might even consider MATAD selling Heron to PC for 70 million, covers our costs to date and gives us capital to get on with Gobi and the new blocks, so many permutations that work for us now.

As we are currently shipping our oil to China while we wait for the refinery being commisioned we can expect market value for our oil, question is what will the market value be in a week, a month or longer term, it looks like Iran Israel tensions are growing again.

https://www.voanews.com/a/b-52-bombers-arrive-in-middle-east-us-military-says/7849285.html

As Mark Twain said, it's impossible to argue with an idiot?

We know the refinery is on track to complete March 2026 (confirmed by the refinery engineers Sept 2024), the SunSirs article the NEGS put forward as proof the refinery will not start up until 2027 starts with “”According to the Mongolian National Television News on October 22, 2021”” so its old and very out of date news.

With Iran threatening retaliation to Israel and the US now warning Iran that they will not be able to restrain Israel if Iran decide to attack, higher and volatile oil prices would seem likely, PC are paying Matad the Chinese DAQING (less 1 $) benchmark for their oil, DAQING = Brent less 7.5%, with higher oil prices the PC costs (trucking, tank rental) are less important.

https://www.timesofisrael.com/us-said-to-warn-iran-it-wont-be-able-to-restrain-israel-if-tehran-attacks-again/

Two of the most important issues for any producer of oil are how many barrels of oil they produce and what price do they sell that oil, we know Mongolia have suddenly become very helpful, we know we will sink more Heron wells next year, all looks good for the future.

Unless someone can actually supply """proof""" by way of a WORKING link which states otherwise the below is the most upto date info.

September 2024 article, refinery will be ready March 2026.

https://www.rigzone.com/news/wire/mongolias_first_17b_refinery_to_be_ready_by_march_2026-12-sep-2024-178092-article/

https://en.mininginsight.mn/index.php?newsid=241

Pipe line will be completed Q3 2025.

With luck MATAD will be supplying several thousand barrels of oil a day for the new refinery, great, cuts out the middle man (PC), no trucking costs, no holding tank rental, no commisions to PC, just more revenue to swell our drilling fund.

Unless someone can actually supply """proof""" by way of a link which states otherwise the below is the most upto date info.

September 2024 article, refinery will be ready March 2026.

https://www.rigzone.com/news/wire/mongolias_first_17b_refinery_to_be_ready_by_march_2026-12-sep-2024-178092-article/

https://en.mininginsight.mn/index.php?newsid=241

Pipe line will be completed Q3 2025.

With luck MATAD will be supplying several thousand barrels of oil a day for the new refinery, great, cuts out the middle man (PC), no trucking costs, no holding tank rental, no commisions to PC, just more revenue to swell our drilling fund.

September 2024 article, refinery will be ready March 2026.

https://www.rigzone.com/news/wire/mongolias_first_17b_refinery_to_be_ready_by_march_2026-12-sep-2024-178092-article/

https://en.mininginsight.mn/index.php?newsid=241

Pipe line will be completed Q3 2025.

With luck MATAD will be supplying several thousand barrels of oil a day for the new refinery, great, cuts out the middle man (PC), no trucking costs, no holding tank rental, no commisions to PC, just more revenue to swell our drilling fund.

Velo and everyone else, dont get drawn in by this guy (or the others), that is exactly what he wants, then he can flood the board with drivel, its what he is being paid to do.

Nit picking, personal abuse, deramping, creating discord and dislodging shares from nervous investors is his fulltime job, on the bright side admin seem to have removed his "hope you get cancer" post from yesterday.

Yes its unfortunate low life like this exist but nowt we can do, if anything the fact he is here should bolster your confidence in this share, longer term there is only one way this share is going and that is up, up and up.

Velocoraptor

re 66 million barrels recoverable, MB has already said that figure could be greatly increased with the intoduction of new technologies to the Mongolian oilfields.

Brief and easily read description of these new technologies can be found at the link below.

https://www.envirofluid.com/articles/oil-recovery-techniques-the-need-for-enhanced-oil-recovery/?srsltid=AfmBOoo3GJnxf0mi8DuO1LC_vWssZnFbpGidVT4yS2-OMoX5Y2x1vnDL

Adw, looks like you have a problem reading English, try breaking the words down into syllables, it might help you understand what your reading, see link below, take it slow.

Examples below.

a → a (1 syllable)

bread → bread (1 syllable)

female → fe-male(2 syllables)

bicycle* → bi-cy-cle (3 syllables)

interesting → in-ter-est-ing (4 syllables)

Quite sure Adw, gusto, invester etc etc etc have a few accounts each, they could be any of the new posters appearing on this board, also i would take with a pinch of salt the fact a few of them appear to have changed allegiance, they could just as easily return to bashing the share or do so while hiding behind another profile.

TBT, not sure Mr Adw is a debate type person, debased yes, debate no.