Member Info for abzzba

The ground is NOT to hard, below 6 or 7 metres the ground temperature hardly varies winter to summer, i can assure you if rig winterized it will be drilling new wells.

And with Mongolias refinery coming online March 2026 and needing 30,000 barrels of oil a day they got to start drilling wells pronto, so maybe JV news sooner than we think. MB also mentioned the possibility of winterizing a rig so it could drill through the winter period though that would be end of next year.

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

Winter shut down is usually a quiet news period, have a feeling this winter will be different, we may just find out the reason behind the sp manipulation and or news on DQE/PC/soft loan arrangements, MB needs to stick a webcam up at H1 so we can keep tabs on our departing oil.

Hamm, you can catchup on well testing at the below link, it may give you a better understanding and some insight of whats happening at H2 right now.

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

Hamm, certainly the more wells they have the better the understanding of the geology, eg they can monitor pressure / flow at H1 when H2 is flowing so they find out if they are interconnected, and yes its quite likely there will Heron wells with better flow rates than H1, my guess that H2 will flow less than H1 is due to the lesser "pay interval" ie oil flowing from around 5 metre interval while H1 well test RNS (24/10/2019) states oil flowed fron DST 2 that had 12 metre interval.

When putting a well into production its standard practise to choke it back, H1 flowed at 821 bbl/d during well tests but will be choked back initially, 2 reasons for this, open the valves to much initially can damage the reservoir plus you have to gauge best pressure, you do not want to release too much pressure in to short a time, its a balancing act oil vs pressure. H1 flow rate will increase as they better understand the geology.

When you say work over i assume you mean the H2 well test ?, costs for this are mainly labour and equipment hire costs, the well test will tell us H2 flow rates and pressures, basically is it commercial, almost certainly it is, the results are due probably this coming week.

HAMM, i was not drilling nor completions engineer, i was QA/QC for oilfield equipment but i did spend much of my time at onshore well locations where i inspected drilling, completion and lifting equipment etc etc so the following are my thoughts only, as we now know MATAD confirmed total cost for drilling/well test / completion and ancillary costs to be 4 million, i think this is quite high, probably due to limited options in the companies in Mongolia that can do the work, certainly in Africa cost were nowhere near that for onshore desert wells, i am speaking Libya, Egypt, Tunisia, Nigeria, for info i contacted PM about the costs but got only stock reply that well costs were "low cost operations by any industry standard", i replied disagreeing with that but they did not reply back.

I believe H2 will be commercial but with a lower flow rate than H1, H2 RNS states " there is net oil pay within it of more than 5 metres" this is less than we encountered at H1 hence the guess of lower flow rate (but who knows, well test results are imminent so we will know soon, quite possibly next week).

Gobi, MB is giving nothing away, RNS for GOBI states "confirmed a total of 34m of reservoir quality sandstones within a gross interval of 70m ", so the formation might be tighter resulting in less oil show, fracking may well be the way forward, case of wait see, as stated, these are my thoughts only.

Master, for info i spent many years working oilfield in the Middle East, Far East etc etc, i think for myself, i do not need anyone to think for me, nowt to do with what government or politicians tell me, does anyone actually believe them ?.

Suggest you jog on back to Facebook, sure you can find a few groups to join, better still do yourself a placard and get on down to centre of town.

Master, my head is fine, fact is i am being realistic and fact is i care not one jot for Iran, at the same time if actions in the Midle East push the oil price up i will certainly be happy about that, you can donate a proportion of your profits to some WOKE charity if you wish, i will be banking 100%, personally i hope Iran decide to retaliate for Israels attack this morning then we can finish the job hopefully once and for all, nothing would suit me better, two birds, one stone as it were, the bleeding hearts may think differently.

Israel limited this morning’s attack to Iranian military targets, my guess would be that oil price (Brent currently $76) will have a marginal rise due to this attack (5% or 10% ish) over the coming days/ week, however if Iran decide to fire off more missiles at Israel then I do believe all hell will breakout, I believe Israel would reply with attacks on Iran’s nuclear and oil infrastructure, if that happens the gloves come off, we then need to wait see if Iran do try and disrupt the worlds oil supply as they have said this is what they would do, if this happens who knows where oil will go, $100 upwards, $150 could well be on the cards if this is how it plays out in the weeks ahead.

Remember Iran supply China with 1,000,000 barrels of oil every day.

And yes it’s a nice though H1 beam pump is pulling our oil from the ground 24/7.

Reuters triple digit oil price.

https://www.reuters.com/video/watch/idRW476725102024RP1/

I think Master82 is correct when he said that "something is not right here.", many of feel something going on in the background since the last share issue, massive sellng holding the price in check, the arrival of numerous bashers/ derampers/NEGS who post 50 times a day telling us lies such as we will only get $30 barrel for our oil or MATAD are broke and cannot drill more wells et etc.

Fact is genuine holders realise there is something BIG about to happen, consensus seems to be there will be a takeover attempt due to the potential riches MATAD has.

Israel begins retaliatory strikes against Iran, pretty certain the end result of this will be higher oil prices.

https://oilprice.com/Energy/Oil-Prices/Wild-Oil-Price-Forecasts-Some-Predict-350-if-Strait-of-Hormuz-Is-Blocked.html

How to recognize derampers/bashers/ Negs aka low life, they are on here 13 hours a day spouting lies, half truths and trying to rile and wind up investors, that is their job, that is their sad sad lives, best to ignore them, think of them as dog mess on the pavement (not much of a difference really), walk around it.

Adw198, Gusto1, investor33, Stas20, Espen35 and more, seems we have more Negs/ derampers and bashers than we have genuine investors.

Here we are at what should be a pivotal moment in MATADs history, we are now an oil producer with huge potential in our Heron field, Mongolia’s pipeline will be completed next year, engineers told us last month the refinery is on track to complete March/April 2026 and we end up with millions upon millions of shares being sold in an effort to keep out sp low, add to this the Negs/ derampers and bashers that have turned up to hammer down any rational posts by investors while spouting half truths and lies, just read the description for these low life’s at the link below and see if they match the profile.

https://www.guerillainvesting.co.uk/2009/12/15/stock-bashers-3/

Keep in mind Mongolia needs 30,000 barrels of oil every day for the new refinery, when we start supplying the refinery costs will be reduced greatly as we do not need to rent storage tanks nor pay truck shipping costs to PC, we will be using the new pipeline, also we will get a better price for every barrel of oil we sell to Mongolia.

We have a lot hanging on H2 well test result, if good and we can get H2 into production pre winter shutdown then great, if not then then whoever is manipulating this share aided by our now resident low life posters will continue to hurt us all over the winter period, end result is the same, this share will be let go and absolute blast skywards, the manipulators and low life realise this, thats why they are here, they never target a company that has no prospects,

Genuine share holders should be looking at the scum bags efforts differently, we can load up with cheap shares before this does what we all know it will do, ROCKET skywards.

H1 now producing, we expect initially 300 bbl/d so 300 x Brent price less 7.5% ($68) = $ 20,400 per day, less some costs but remember these are very low.

Hopefully H2 will add to the above pre winter shut down, then new wells, H3, H4 etc etc next year.

Adw198, Gusto1, investor33, Stas20, Espen35 and more, seems we have more Negs/ derampers and bashers than we have genuine investors.

Here we are at what should be a pivotal moment in MATADs history, we are now an oil producer with huge potential in our Heron field, Mongolia’s pipeline will be completed next year, engineers told us last month the refinery is on track to complete March/April 2026 and we end up with millions upon millions of shares being sold in an effort to keep out sp low, add to this the Negs/ derampers and bashers that have turned up to hammer down any rational posts by investors while spouting half truths and lies, just read the description for these low life’s at the link below and see if they match the profile.

https://www.guerillainvesting.co.uk/2009/12/15/stock-bashers-3/

Keep in mind Mongolia needs 30,000 barrels of oil every day for the new refinery, when we start supplying the refinery costs will be reduced greatly as we do not need to rent storage tanks nor pay truck shipping costs to PC, we will be using the new pipeline, also we will get a better price for every barrel of oil we sell to Mongolia.

Adw, if you do hold shares please feel free to sell out. As for your "pumpers losing steam" thought i can assure you the manipulation of this share only serves to make my belief stronger that this share will go ballistic one day in the not distant future, those behind the manipulation and no doubt paying you and the others that have turned up on the board already know this, for info you aint getting my shares below 35p though i may just decide to hold onto them based on news next year and in 2026.

Sunk costs are tax deductable, no tac, more in kitty, more wells we can drill,