Member Info for abzzba

Petro Matad’s Renewable JV set up was well timed

• 4 projects exclusively held

➢ 24MW solar/wind for Oyu Tolgoi (OT) Green Hydrogen - targeting online 2026

➢ 50MW Choir Battery Storage - 2026

➢ 200MW hybrid plant to replace coal. Commercially competitive PPA in place - 2027

➢ 1500MW export to China with major Chinese utility - 2029

➢ Several more opportunities under review

➢ SunSteppe CEO advising government

LutaLivre, ref received info, i read the 30th July Rns differently,

"we have one counterparty has reported that it is in the final stages and we are now concentrating on Chinese partners including companies active in the producing basins in northern China that extend into Block VII",

To my way of thinking we have one on the hook and playing a few more.

What the hell, who cares if its Indian or Chinese as long as their cash/deal is good, but if its PC get the cash in the bank first and double check its cleared funds !!!

Dear readers, always best to go with the facts and genuine links to real news rather than rely on those deceitful posters that lie and disrupt, be wary !!!

For info Mongolian minister have had meeting this year with both Petro China & Sinopec Dongsheng.

PC meeting they asked PC to increase production but that is not possible due to their 20 year old oil fields being played out, then in May there was a meeting with Sinopec/Dongsheng about supplying the refinery.

See links below with articles about these meetings.

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

https://montsame.mn/en/read/369293

Prior to finding out about the talks with OVL (Videsh)/ONGC and the refinery i had Sinopec/Dongsheng down as favourites but got to say i favour / expect OVL to be the lucky ones now.

TenBag, i mean block XX gets sold, MATAD still exists after that to go on their way with block VII and a pocket full of cash.

If there were a buyout rather than a farmout it would be good if MATAD supported shareholders with a share buy back

Personally, i still think we will receive a buy out offer before any farmout deal, if we reject the buyout then a farmout deal will follow shortly afterwards, my thoughts only.

One thing that is certain, the Gazelle result will is a massive boost and will help add value to any deal whether a buyout or farmout.

Sooner the refinery is ready the better then we start selling to Mongolia and get $9 more for every barrel of oil, cut out the middle man (Petro China), no trucking costs, no oil storage costs no royalties etc etc.

20% more for our oil is not to be sniffed at.

Worth remembering they need to start filling the 530km pipeline and refinery tanks several months before the refinery starts up and that will take around 400,000 barrels of oil.

Better still, no payment issues.

Master, excellent find,

Petro matad do 15,000 - 20,000 bpd?, i should think the business plan/drilling schedule will come after the farm out is agreed, we all know PM can not go it alone.

Question is where do you come up with 15,000 - 20,000 bpd, that is more than Mongolia is producing per day right now.

Currently Mongolias daily production is around 15,000 bopd.

Should probably also mentioned once a well is completed and put into production the well site consists of surface equipment only (no rig) surface equipment includes Beam pump (nodding donkey), flowline, wellhead, seperator, heated oil storage tanks etc etc, you can get an idea of a producing wellsite by looking at the link below, page 9 gives a pictorial of a single well production pad, similar to how H1 or Gazelle etc would look.

https://www.petromatadgroup.com/wp-content/uploads/2024/07/Corporate-Presentation-10_07_24-Petro-Matad.pdf

Winter in Mongolia is severe so no drilling or workover work can be done without winterized rigs of which there are none in Mongolia (as yet). Once wells are completed and flowing these continue as normal through winter so oil production continues.

As a norm winter is often taken as mid November to mid March but it can be later or earlier, each year is different, this year looks like a pretty good November so we may be able to work later into November if needed though i doubt we will need to.

As for winterized rigs which allow rig work / drilling all year round MB mentioned these as a possibility during July 10 2024 presentation @ 1h 25m 25s.

Gazelle will be producing well before mid November, indeed it could be producing right now.

In my opinion H2 is producing rght now and has been for a week or more, we are just waiting for a stabilized flow rate before announcing its bopd rate.

LSE moderators here is a disgrace, never a truer word spoken.

Ftse, thanks, my reasoning for H2 below.

Waxy 43°API oil will usually flows better once the near-wellbore warms above its Wax Appearance Temperature (WAT) and the oil viscosity drops, but the timescale ranges from days to several weeks assuming we rely on passive heating by produced fluids/formation/friction.

Heating above the WAT melts waxy crystals and viscosity becomes lower, as viscosity reduces the flow rate will increase, simple to understand that thin oil flows easier than thick oil.

This is quite a well known issue especially in the US and Russian oil wells, lots of info out there on steam being injected to the well bore to help thin the oil, if you want info just google “Oil well Steam Injection”.

We are not using steam but relying on passive heating, after the injection fluids (640 barrels) were removed we would have been sucking (pumping) oil, it may have been slow to start but as the well heats up the oil around the wellbore also heats making it thinner (less viscous) so it flows better, I believe this is what we have been doing and why the time scales have been longer than expected, once the well has heated itself up production increases hence thinking the longer timescale is good news as I expected daily production grows marginally with every day we pump, this will continue until we reach a stabilized flow rate, how much is anyones guess but I suspect a lot better than we expected.

Seems our troll friends are out in force, makes sense given its Halloween, lots of weirdos out tonight.

Being paid the circa $850,000 that has been withheld will be a nice little boost, being paid 100% of future invoices will also help greatly, more so given we will be selling 2 or 3 hundred percent more oil every month.

Sands, As TBT said production continues over winter, its drilling ops that stop.

150-160 from H1.

Gazelle tested between 160 & 460 bopd on various choke sizes, guesswork what we get on production but 200+ bopd cannot be unrealistic.

H2, my guess 85 bopd+.

So my guess is 430 bopd plus over winter, could be more/could be a wee bit less but a big improvement either way

July 30th presentation one of my questions.

Are talks being held with Indian oil companies ONGC / Videsh Limited (OVL), MBs answered we are not talking to ONGC, he did not deny we were talking to Videsh (OVL).

ONGC conduct operations within India, OVL are a subsiduary and concentrate on oil exploration outwith India.

Lots of speculation about Indian oil companies entering the Mongolian oil.

16th October 2025 news, The Deputy Prime Minister invited Indian oil companies to explore and collaborate on Mongolia's oil fields, see link below.

https://energy.economictimes.indiatimes.com/news/coal/mongolia-invites-indian-firms-to-invest-in-mining-and-oil-exploration/124594057

Virtual meeting earlier this year, March 2025.

https://www.facebook.com/100064495280063/posts/on-5-march-2025-embassy-of-india-organized-a-virtual-meeting-between-ongc-videsh/1039552271537939/

Obviously long term plan inplace as there was a meeting in 2021 between ONGC/Videsh and Mongolia, see link below.

http://www.mongolianbusinessdatabase.com/base/newsdetials?id=27601