Member Info for abzzba

WOS, cost deferral would probably suit us given each well will cost around 4 million, either way we should have enough cash from the last raise for an H3 and an H4, by time H4 drilled, tested and completed that should be around June/ July, maybe even enough revenues generated for an H5, guess it depends on what price we are selling at.

Company never said each well will cost 4 million, they said H1 cost 4 million, no doubt due to the fragmented work, drilling march 19, testing October 19, mobilising manpower and equipment earlier this year just to find they needed permits then finally mobilising a few weeks ago after permits, you certainly not the brightest spark.

As for H2 cost hold fire, will get my crystal 🔮 out

H2 will cost a bit less than H1 as there are less mobilization costs, It's been drilled, then straight into well test, assuming commercial straight into completion, unlike H1 drilled march 2019, well tested months later and completed several years later hence costs should be quite a bit lower than H1, as I said, try and keep up with news flow, otherwise you only embarrass yourself even more !!!

Adw, are you are aware H1 was drilled in 2019, drilling costs paid in 2019, testing of Heron was completed Oct 24 2019 so i would guess we paid well test costs back in 2019, in the same podcast MB also states that all completion equipment was already bought and paid for mid 2024 so costs or portion that includes costs for drilling, testing, completion equipment all had already been paid meaning we probably spent less than a million on H1 since the last share issue, you really need to pull your socks up.

Adw, I already gave my estimate of costs for H1, if you disagree with my estimate please put up a link to the podcast and include the time at which it's mentioned in the podcast, you keep asking the same questions, try and keep up.

PS, if I turn out to be wrong on H1 costs I will apologise.

Investor, seems like a win win situation for MATD, if Saudi do this it ends in higher oil price, if Israel Iran lock horns it's and even higher oil price,

Just before i go out for the day, to quote MB " the production costs in Mongolia are Very Very Very low".

To reiterate, Heron 1 equipment already onsite and bought and paid for long before the last share issue so minimal cash spent on Heron 1 since the last raise.

ADW198, can you give me a breakdown of what you believe the total costs are for H2 ie drill ?, well test ?, completion ?, equipment ?, thank you in advance.

Doc, without the aid of a crystal ball and not knowing what the oil price would be if Israel and Iran lock horns I cannot answer your question, I am simply stating the estimates given yesterday are well understated, why anyone would state we will be selling our oil at $60 bbl is beyond me, however you might consider that if the costings posted yesterday get our product price so wrong what other "errors" are there in their calculations.

Morning investors (and derampers).

Just a quick post to correct a few things, firstly we will be selling our oil to China, it will be transported from Heron 1 holding tanks to PC facility some 20 km away from Heron where it will be mixed then transported to China, the price we get will be based on the little known Chinese DAQING benchmark less $1, for info the Daqing benchmark trades at around Brent price less 5 or 10%, for my calca i shall discount todays Brent price by 7.5%, Brent price as i type is $79 per barrel so less 7.5% so lets take $6 off the Brent price that leaves us $73 which is what MATD would get if we sold oil to China today, so quite a bit more than the $60 being used by some of the posters on this site.

Must admit i am not familiar with the Mongolian tax system but if its anything like other countries a company can normally set profits against losses so in our first year i do expect a discount on our profits.

Let suppose H1 starts producing "very" soon, initially 300 bbl/d though that will increase within a few months and i fully expect an average production rate rom Heron 1 to be around 400 bbl/d for our first 12 months of production, quick and accurate (as opposed to derampers arithmetic) figures follow: 400 bbl/d x 365 = 146,000 barrels per year based on $73 per

barrel = $10,658,000 for H1 production in the first 12 months of production, this assumes oil price does not increase, hands up those that think it will not increase ?. And if we are lucky enough to get H2 into production we can double this.

My factual figures differ greatly from the fictional figures being given by other posters.

And yes i am aware there are costs associated, have a good day.

Production continued throughout winter, the storage tanks will also be heated to prevent the waxy oil thickening.

Virtually no costs for Heron 1 have been taken from the last fund raise as all equipment including the beam pump were already bought and in country months ago and well before the last fundraise.

Do not believe the false financial picture being put forward by the numerous derampers most of whom posted this morning.

Do you guys get paid extra for weekend work ?

Check my previous posts for all the info you asked. I do not like repeating myself.

As I said a few days ago I will not be selling at 5 or 6 p, I will wait until after the refinery opens, by then I expect MATD to be producing 5000 bbl/d, that's when our real value will be realised

Hamm. You will never get investor33 to listen or accept fact as he is on this board for one reason only, to destabilize investors and debase the company, strange given he says he has 1.5 million shares, what shareholder would do this.

He keeps stating $35 per barrel profit, no idea how he reaches this figure, i have asked he backs up these silly figures he plucks from the air with costings and fact but that has not been forthcoming, he also denies economies of scale, whatever the costs per bbl are based on 300 bbl/d these costs will be less based on 600 bbl/d and less again with every Heron well brought online, simple economies of scale at play.

I think most would agree that oil will increase in price shortly, it may be distasteful to mention but Israel will at the very least hit back at Irans oil facilities the result being an increase in oil price and disruption to the million barrels of oil that Iran supply to China every day, result being MATD will be selling their oil at a higher price thus more profit per barrel of oil.

Heron 2 spudded 8th Sept, drilling was expected to last 30 days, it reached TD 7 days early, quite obviously this means lower drilling cost, again denied by this Mr Investor who want to make every cost higher than it actually is, strange an investor would do this.

Could go on and say more but the sun has just appeared over the horizon here in Spain, time for a shower, will look in again later.

Investor33, you keep mentioning costs but you never back these cost estimates up with any fact, I can give you a fact, we know H2 took just under a month to drill, same as Gobi drill and Gobi drill cost 1.5 million so safe to assume drill costs for H2 very similar, testing and completion will add a further million so 2.5 million to drill, test and complete then it starts spewing out black gold that you previously valued at 65 cents a barrel, if anyone on here needs to be more accurate it's you, some might think your a deramper!!!

Radika, RUN

Hamm, agreed enough cash H1 and H2, strange how several posters are trying to unsettle investors, games being played.

Adw198, not sure you have much understanding of oilfield and wells, maybe your a candle man.

Not sure mitigating the risk of non commercial drills comes into the equation in Heron, they know exactly where the oil is, it does however mean we can get multiple holes drilled in double quick time and at vastly reduced cost, also interesting that the rig has been left onsite Heron over the coming winter, we will be ready to start drilling as soon as the weather allows.

Think an agreement with DQE as per December 5th 2022 RNS is more likely where DQE drill multiple Heron wells at discounted costs for a share of future profits and that agreement could well be in place by the start of next year's drilling season.

Plus, with luck we could have H2 well test results by end of next week, happy days just around the corner.

When I bought into echo they had 700,000,000 (0.7 billion) shares in issue, today there are more shares than stars in the sky.