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Plenty recent news about deputy Mongolian minister inviting Indian oilco to enter Mongolian oil industry, plus history ie meeting earlier this year between Videsh and the oil refinery and further back Videsh / Mongolian government, almost certainly any Indian oilco would not want to enter Mongolia to wildcat explore for oil but would want to buy a proved up oilfield, only undeveloped oilfield i know of is block XX, buyout or farm out means multiples of todays sp.

Gazelle results will have been a huge boost to negotiations

Prior to these workovers starting we would have jumped at H2 delivering 60 bopd and Gazelle delivering 100 bopd, seems Gazelle itself will blow these figures out of the water, Gazelle well test returned 160 to 460 bopd on the varying choke sizes.

Tomorrow, next week, makes little difference this is only going one way now.

Halifax: Negotiated Order, Your order can not be completed automatically

CptBuckynOHair, winterized rigs are indeed possible, MB actually mentioned this possibility in the meeting July 10th 2024 @ 1h 25m 25s

Facts.

We know Mongolia must increase oil production for the new refinery that is being built, new completion date is 2027/ 2028, it needs 30,000 bopd to run at 100% capacity, Mongolias current oil production is around 15,000 bopd, recent article states Mongolian oil output has fallen 14% this year.

MATADs Heron field is located in the south Tamsag basin, Petro China oilfield is adjacent to the north, Petro China have been drilling in this field since 2005 when they bought the field from SOCO for $93,000,000, all PCs best prospects in the north have been drilled and many of their hundreds of producing wells are coming to end of life, to-date these wells account for nearly 90% of Mongolia’s oil.

The 530km pipeline that starts a few km from the Heron field and runs to the refinery is due to be completed this year.

Heron is the only known untapped oilfield that can deliver the increase in oil that Mongolia need, no doubt this is why the Heron field has been designated as State special purpose land (see 5th Feb RNS).

Also great to hear that Gazelle 1 has flowed oil at well above the expected rates, Gazelle itself has a half billion dollars of oil.

All coming together.

Gadgie, would roughly agree with your figures, either way it will be a huge increase (200% / 300% / 400%) in production,

Good mind to buy 77 shares ?.

The numbers i agree with are 125% increase in the past month and for certain a lot more to come.

Based on previous RNS releases Thursday is certainly MATADs favourite day.

Another 9% would be a boost today.

Meantime the kids are playing in the background.

I33, check londonleedsman

I33, during 30th July presentation i believe it was Jerry that said """"So again, the water injection test is just to make sure that we can actually inject at rates of water that are sufficient, that we will actually get that water front or that pressure front to Heron One within a reasonable time. And if we do, we'd be looking at getting pressure support to Heron and hopefully seeing some response in terms of increased flow rate in the region of six to eight months, if not a year."""".

Only a complete idiot would think we are still working on H2 for injection purposes, we are not, it is producing oil right now.

Think we can be pretty sure that H2 is commercial, we would not have decided to run the production tubing, bring in a pump and seperator if it were not, i doubt most on here have a clue about the cost of supplying and running the production string and associated tools, if they did they might understand why i feel H2 is a certain producer, question is, HOW MUCH ?.

Be good if posters would keep upto date, extract from 14th November 2024 RNS below.

Heron-1 production

As previously reported, the Heron-1 well was brought onstream on 24 October and it continues to produce oil to surface under natural flow without the need for pumping.

9th October RNS: Gazelle, On opening the well, gas and oil flowed to surface without the need for artificial lift, question is do we need a beam pump or has Gazelle continued flowing without artificial lift and if it has how long will it continue to do so, we know H1 flowed for 5 or so months before a beam pump was installed.

To refresh your memories, transcripts of 9th October RNS below.

Gazelle-1 Well Testing Operations

After the short move from the nearby Heron-2 location, the service rig was installed at Gazelle-1 in early October and testing operations began with the perforation of an 8 metre zone across pay zones identified on logs in the Tsagaantsav Formation between 2057 and 2065 metres measured depth (MD). On opening the well, gas and oil flowed to surface without the need for artificial lift. The first flow period of the test was conducted on a 1/8 inch choke and the well flowed at a stabilised rate of 160 barrels of oil per day (bopd). The second flow period on a 3/16 inch choke flowed at 300 bopd and on a 1/4 inch choke a rate of c. 460 bopd was achieved. No formation water was observed throughout the flow periods. Oil gravity has been measured on site at 43º API which is similar to Heron-1 crude. The well has now been shut-in to gather pressure build-up data.

The performance of Gazelle-1 on test has exceeded expectations and so the well will now be completed for production.

The rig will remain on site to run the completion string after which the surface production facilities will be installed. Neighbouring operator PetroChina has made available equipment from its inventory to allow us to expedite the well completion and production start up and we are targeting the start of production from Gazelle-1 before the end of October.

Facts.

We know Mongolia must increase oil production for the new refinery that is being built, new completion date is 2027/ 2028, it needs 30,000 bopd to run at 100% capacity, Mongolias current oil production is around 15,000 bopd, recent article states Mongolian oil output has fallen 14% this year.

MATADs Heron field is located in the south Tamsag basin, Petro China oilfield is adjacent to the north, Petro China have been drilling in this field since 2005 when they bought the field from SOCO for $93,000,000, all PCs best prospects in the north have been drilled and many of their hundreds of producing wells are coming to end of life, to-date these wells account for nearly 90% of Mongolia’s oil.

The 530km pipeline that starts a few km from the Heron field and runs to the refinery is due to be completed this year.

Heron is the only known untapped oilfield that can deliver the increase in oil that Mongolia need, no doubt this is why the Heron field has been designated as State special purpose land (see 5th Feb RNS).

Also great to hear that Gazelle 1 has flowed oil at well above the expected rates, Gazelle itself has a half billion dollars of oil.

All coming together.

Think we are set for a better than expected result from H2 and keep in mind it has already been completed so will just keep on pumping oil and adding to our revenues.

Big week ahead if MB is to deliver Gazelle & H2 by the end of the month, hold on to those shares, heading north very very soon.

Silly traders selling for 20 or 30% profit, lets hope these sold shares end up in stickier hands that want to make real cash.