Member Info for abzzba

Hamm, nowt changed, indeed we are depending on partners pace (as you would expect), and yes MATAD remain operator as common sense prevails, the PSC is in MATADs name plus lets not forget the tax advantages.

Don't shoot the messenger, i am simply posting the link.

Article dated January 4, 2026.

https://energiesmedia.com/mongolia-refinery-to-bring-new-oil-plant-online/

3 months until the drilling season starts, Mongolian oil output dropping, Mongolia pushing for the refinery to be ready 2027, MATAD near farm out agreement with one interested party, interesting year ahead.

Refinery scheduled to become operational in 2028. However, due to the government and the Ministry of Industry and Mineral Resources’ efforts to accelerate the construction, it is planned to be commissioned a year ahead of schedule.

https://montsame.mn/en/read/386483

HAMM, you can add that it will take 4 or 5 years at least to fix Venezuelan failing oil infrastructure and have new wells drilled.

LimitedFunds, affraid the board has been like this since September 2024, this is when the TROLLs arrived en masse and started disrupting the board, prior to this it was a very reasonable board, if you used it prior to September 2024 you will realise this for yourself.

The disruption is almost certainly orchestrated and deliberate and designed to scare of genuine holders and make the board nigh unusable, affraid you need to reach your own conclusions as to why this is happening.

Https://www.cbsnews.com/live-updates/venezuela-us-military-strikes-maduro-trump/

Wonder if those "expert" oil analysts considered this and the affect it might have on the oil price.

https://www.foxnews.com/politics/trump-says-us-intervene-iran-starts-killing-protesters-locked-loaded

Agreed, a small raise would be better than a bad farm out deal, why give half our oil away, even better if SunSteppe were sold, we would have all the cash needed to fund development of block XX ourselves.

Anyone like to guess a value for SunSteppe ?.

Question 115:

Question: In previous presentation you estimated block XX worth between 150 and 300 million, In light of Gazelle result might you be inclined to increase block XX worth.

Answer: Yes.

Producing circa 350 bopd is not a bad start to the year. Add to this the fact Mongolia are pushing for the refinery to be completed "next year" and once we start supplying the refinery directly we will cut out handling / trucking costs currently paid to Petro China, this should mean around £12 more for every barrel of oil we sell to the refinery.

Refinery scheduled to become operational in 2028. However, due to the government and the Ministry of Industry and Mineral Resources’ efforts to accelerate the construction, it is planned to be commissioned a year ahead of schedule.

https://montsame.mn/en/read/386483

Production of Key Equipment for Mongolia’s Oil Refinery Nears Completion in India.

The equipment is planned to be delivered to the project site in Dornogobi aimag in early 2026 for installation.

https://montsame.mn/en/read/384438

YAWN !!

Quick correction EOG EG-08 well sits in 80m of water so they could put a production platform over the well rather than an FPSO "if it comes in", costs would still be well above MATADS entire spend in Mongolia.

EOG farm in still has to be approved by Guinea authority and the ONLY similarity between EOG and MATAD is the market cap.

EOG sp reaction to the announced farm out, i agree, each company is different, MATAD and EOG are chalk & cheese, MATAD drill costs = 1.5 million, EOG drill Offshore Equatorial Guinea capped at $53 million, should this EOG well go into production the FPSO costs will dwarf MATADs entire expenditure in Mongolia.

Only a clown would try and compare the two.

Fronteracheckin, very reasonable summary of the facts.

Due to the waxy makeup of H1 oil its common for the production pipe bore to become "gummed" up, essentially this means the pipe bore gets coated with solidified waxy oil which hardens on the internal bore of the pipe, the waxy oil can also solidify around the perforations, this was addressed @ 18m 12 s of the 16th December presentation when we were told a hot wax wash of the wellbore would take place, this is an inexpensive and reasonably quick job to perform, should take only 1 or maybe 2 days and depending on how badly the pipe/perforations are gummed up the hot wax wash could deliver anything between a 10% and 30 % increase in production, a quick and inexpensive piece of maintenance that will pay back within a month.

Also quite possible the waxy oil is the reason for H2 flow issues.

Would also expect farm out news in January.

Refinery scheduled to become operational in 2028. However, due to the government and the Ministry of Industry and Mineral Resources’ efforts to accelerate the construction, it is planned to be commissioned a year ahead of schedule.

https://montsame.mn/en/read/386483

Production of Key Equipment for Mongolia’s Oil Refinery Nears Completion in India.

The equipment is planned to be delivered to the project site in Dornogobi aimag in early 2026 for installation.

https://montsame.mn/en/read/384438

TBT, agreed, going into 2026 with circa 350 bopd is a good start to the year, going into 2026 with a farm in proposal on the table does us no harm either, no doubt a lot more news on the farm in to come in the next month or so.

Mullins, i am sure there are a few on here that would take great joy from telling your grand children that Santa is NOT real.

Merry Xmas & a prosperous new year to all "GENUINE" holders,

"Kung Hei Fat Choi"

Think i will await official confirmation by way of an RNS, as far as i am concerned Gazelle is still producing circa 200 bopd.

PS, i shall send an e mail to MATAD asking they make future RNS understandable for 5 year olds.

It would seem the latest innuendo being pushed relates to Gazelle production, unsure why, 12th December RNS is quite clear, Gazelle was brought online at 200 bopd, the RNS also states "after a few initial TEETHING problems were OVERCOME", for those that struggle with the capitalised words above i have provided definition and clarification.

"Teething problem overcome" means resolving minor, initial difficulties in a new project or phase", the word resolving should give you a clue.

Hope this helps ?.