Member Info for abzzba

GT, agreed, it can take a new well a few weeks to several months to stabilize into its natural production rate, depends on a range of factors.

12th December RNS: We have received a proposal from one of our counterparties to farm-in to Block XX. We have hosted their due diligence visit to Mongolia and to the Block XX facilities, and discussions are continuing, no company ever offers it best offer up front, we appear to be in the final stages with this party, offer could well be on the table within a month, but its got to be a good offer, we are not giving half our riches away for peanuts.

OldsCool, the board was never like this pre September 2024, this is when our infestation of BASHERs arrived with the intention of disrupting the board, something they have achieved via lies, half truths, goading investors and bullying investors, i blame LSE admin for letting this manipulation get a hold and for the poor moderation of the site, the big question is why they jumped on MATAD, for what reason, i have my own ideas about that but one thing you can be sure of, thousands of posts and hours spent BASHING the company, for what or should i say for WHOM, an orchestraed assault.

Quite funny reading the posts from our armchair oilfield experts who tell us Block XX is unproven and worthless, thankfully the three entities vying to develop Block XX have their own experts (real ones) who are well aware of Block XX worth.

The fact that company has received a farm-in proposal is a positive signal. It shows that the asset has real value and commercial potential. This interest will only strengthen MATADs position when negotiating.

The two other interested parties who have not made an offer are likely waiting to see what happens. They may step in later if they think the asset could be lost to a competitor or if the first proposal sets a benchmark. Often, once one offer appears, others follow though my own thoughts are this inital farm in proposal is from an Indian operator and the 2 other interested parties are Petro China and an unknown party, i believe the Chinese would favour a buy out of block XX rather than a farm in, the Chinese are not known for sharing.

Overall, the company is in a much better position than before. It now has a potential funding partner and growing interest from others, which can lead to improved terms or competing offers, should also be remembered companies seldom make their best offer initially.

Add to this the fact that Mongolia are desperate for block XX to be developed quickly, looking good.

Yep, nice to see oil back around $62, fact is you never know where it will go, so many troubles in the world, the analysts assumptions are worthless.

I33, tend to agree these sorts are not worth the effort of replying to, if they do not read the various RNS or do not understand the RNS or constantly misquote official news why waste time on them, our last RNS tells us everything investors needs to know.

Proquo, MB stated he was looking for Block VII partner from the companies drilling similar geology in northern China, Totalenergies hold a 49% stake in Ordos Basin Sulige Block in northern China, imagine them as a partner.

Ftse, when you consider the potential and the recoverable oil we have in block XX there is certainly a case to be made for the go it alone option but would agree many investors would not be happy, that said any deal has to be a good deal.

Proquo, agreed, anyone questioning these FACTS needs to take it up with Petro Matad as these are things they've said officially, also it never ceases to amaze me that people cannot be bothered to look for the information themselves, seems to be a few on here that need their hands held.

Personally i prefer to used company issued RNS to determine the facts, the latest RNS releases tell us H1 is producing at the rate of 135 to 145 bopd and Gazelle is producing 200 bopd, when i went to school that came to circa 340 bopd, certainly more than adequate to cover costs and expenditure even with the 30% PC are holding back.

During the last presentation MB stated he was confident the oil sales agreement issue would be rectified in January / February so we can look forward to full invoice totals being paid and circa $1,000,000 lump sum payment, obviously would have been better if PC had acted in a professional manner from the outset but lets face it, they are not known for this.

Found them yet ?.

Bit like the 500k production bonus you could not fathom out, stick around, i will hold your hand and guide you through. (GUFFAW)

StockMad, read the RNS 16th January:

The commitment spend for the first two-year phase including all PSC fees is $980,000 and overall expenditure under the contract for the full eight-year exploration period is $14.9 million.

Petro Matad has been able to incorporate into the eight-year exploration term a phasing of the work programme and the spend with the option to continue or relinquish in part or in full at the end of each phase.

(The important bit, WE CAN RELINQUISH PART OR IN FULL AT THE END OF EACH PHASE), our choice.

Gadgie, great news, keep in mind once supplying the refinery direct we cut out Petro China, processing, handling and trucking fees which meams around £12 more for each and every barrel of oil.

Thornogson, agreed, we are sitting on billions of dollars of oil, Mongolia desperately need that oil for their new refinery, we have no debt, with Gazelle starting production 7 weeks ago the 200 bopd it produces makes us cash positive, whats not to like.

Farm in proposal received after due dilligence visit to our field in Mongolia, 2 other companies also interested, got to be a good deal or we can go it alone, a longer route but almost certainly a richer route in the long term.

Lot of noise being generated by non believers and ""others".

Not sure i trust LSE trade detail or displayed price any more than i would trust their moderation & admin team

350 bopd = cash positive, enough for operations (director wages included) plus extras.

Worth keeping in mind Heron / Block XX has a 20+ year life and we have hardly scraped the surface yet.

It was only ever a matter of time with MATAD, no one can deny we are sitting on a goldmine of an oilfield that oil is desperately needed by Mongolia.

Re Block VII, well worth a read.

The Changqing Oilfield is China's largest oil and gas production base, and a significant portion of its operations and reserves are located within the Inner Mongolia Autonomous Region.

Key Details: Location: The oilfield spans the vast Ordos Basin across five provincial regions: Shaanxi, Gansu, Ningxia, Shanxi, and Inner Mongolia.

Operator: It is primarily operated by the PetroChina Changqing Oilfield Company, a subsidiary of the state-owned China National Petroleum Corporation (CNPC).

Inner Mongolia's Role: Inner Mongolia hosts major components of the field, including the ***Sulige Gas Field***, which is China's first giant gas field with over a trillion cubic meters of proven reserves.

TotalEnergies have a 49% stake in the field, wonder if TotalEnergies may have been approached, MB did say he was looking for partners already involved in e xploration of that area.

12th December RNS: We have received a proposal from one of our counterparties to farm-in to Block XX. We have hosted their due diligence visit to Mongolia and to the Block XX facilities, and discussions are continuing, no company ever offers it best offer up front, we appear to be in the final stages with this party, offer could well be on the table within a month, but its got to be a good offer, we are not giving half our riches away for peanuts.