Member Info for abzzba

Gazelle 1: the initial production rate for Gazelle-1 has been set at 200 bopd. Well performance will be closely monitored to determine if this rate can be increased. Since the distance of the well from the oil water contact within the trap is not known, a conservative approach is being taken on start up to reduce the chance of early water breakthrough.

After monitoring we could be flowing more, as usual steady Eddie takes the prudent approach.

Good news, more than doubled our daily production, now pumping circa 350 bopd.

Just in case this was missed, new article published yesterday morning confirms the 530km pipeline is nearing completion.

https://open.kg/en/news/in-the-world/41044-stroitelstvo-nefteprovoda-v-mongolii-blizitsja-k-zaversheniju.html

Lot of disinformation being posted on here. Best to stick with checkable material rather than the

unsubstantiated say so of unknown posters.

Master, i was looking at what it would take to store our own oil if we could do a deal with the refinery to buy it early (long shot i know), for info a measly 30 m × 30 m pit would need to be about 3.5 m deep to hold 20,000 barrels (ignoring lining, freeboard, engineering safety factors, etc.), not a lot of digging required to store 20,000 barrels, do B&Q have stores in Mongolia.

Gadgie, good find, seems Dongsheng like Petro China are not keen on paying their taxes,

530km pipe line nearing completion. (Published: 04.11.2025, 05:10)

https://open.kg/en/news/in-the-world/41044-stroitelstvo-nefteprovoda-v-mongolii-blizitsja-k-zaversheniju.html

Lot of disinformation being posted on here. Best to stick with checkable material rather than the

unsubstantiated say so of unknown posters.

When the refinery starts up it will not be running at 100% capacity, more likely 60%/70% so plenty time for block XX to deliver the goods, importing crude kind of kills Mongolias dream of energy self-sufficiency, but who know, i guess if there is a shortfall in Mongolian oil production importing crude could happen, all the more reason to get block XX developed and quickly.

Manfrom, i have no idea of the significance of the 77 buys/trades but agree they appear to bring us some luck

Master, ref satellite image, i looked and cannot see a pump, i can see what i think is an oil tank, that said do we need a beam pump, the 9th Oct RNS stated "On opening the well, gas and oil flowed to surface without the need for artificial lift". Fact is if we have reservoir presssure we are better utilizing that than a beam pump, simple reason being reservoir pressure will deliver more oil, beam pump can be fitted even during the winter period if needed, winter does not stop simple surface works activities, it only stops drilling / workover type works.

My thoughts are we are varying choke sizes to get best & safest possible production rate, once a stabilized production rate is achieved we will get the RNS.

If we get an RNS tomorrow saying beam pump fitted and we are producing i will book an appointment at the optician, it is overdue.

For info i asked Copernicus if i could buy higher res images but they say they do not do that for that area.

Doc, Obviously the Mongolians do not think the refinery is "years" away.

Refinery 2027.

https://www.ubpost.mn/a/13420

https://bloombergtv.mn/news/mhim2k

Given how long it wil take to fill the pipeline and storage tanks we could be selling our oil to Mongolia by mid 2027, and we will get $9 more for every barrel.

LL, until a few months ago i had Sinopec Dongsheng as he front runner for block XX farm in/ buyout, i changed my mind when i heard of the numerous talks between Videsh Ltd (OVL) and the refinery operator and Mongolian ministers, i cannot see the Indian explorer want to come to Mongolia to wildcat drill, they would want a proven oil field to develop and the only one i know of is block XX, not so sure they would want to be involved with exploring block VII but you never know, makes no real difference whether its Indian or Chinese partnership as long as the deal (farmout or block XX buyout) is right.

Big week ahead, lot of news due, Gazelle figures, H2 figures, hopefully update on farm out and reworded sales agreement.

I33, PetroTal shares in issue figure you gave was after a share buy back, i tend to think 6p valuation is very low but i guess it depends on timescales, no timescale was mentioned, i still see this soaring towards and after the refinery comes online assuming we end up with a farmout deal, but things change if block XX is sold.

MB did state block XX was worth 150 to 300 million and that was pre Gazelle result, if we sold block XX for 150 million that equates to around 8p per share.

Also i said earlier, all and every deal is possible, 100% sale of block XX or reduced cash with a percentage of the oil, who knows.

Point of Sale: The transfer of ownership for the oil typically occurs at the entrance (metering station) of the pipeline.

I33, agreed that 250 million would be an acceptable offer for block XX, that said any and all deals on the table, it could be 100 million with a percentage of the oil, who knows, sure we will find out soon and i mean well before year end.

Keep in mind the volume of oil needed to fill.

1: the 530 km pipeline.

2: the 5 oil pumping and heating stations/tanks along its route.

3: the refinery expected "circa" 200,000 bbl storage tanks.

Mongolia need to start pumping oil into the pipeline several months before the refinery startup date.

LL, great find, refinery earlier the better for us, 20% more for our oil.

Gadgie, agreed Gazelle could be huge, best part is the identified updip MB spoke about, its another nailed on producer and probably more productive than Gazelle 1.

Hard to believe anyone would say the refinery is not important, its the reason Mongolia have to double oil production within 2 years, level of understanding of some of these posts is shocking

Lets not devote the board & posts to those that want to disrupt, concentrate on MATAD, our great ruslts at Gazelle, expected H2 results, renewables/Sunsteppe, farmout etc etc.

Production over winter expected to be around 430 bopd minimum, almost treble our current production from H1.