Member Info for abzzba

Based on the last RNS which told us the beam pump started up on the 6th we should have been pumping oil for around 7 days so yes we are adding to our coffers every day, only reason we do not have an RNS yet is we have not reached a stabilised flow rate, for me thats good news as it suggests the flow rate is increasing with each day of pumping.

Almost certain RNS this week.

1: H2 production results.

2: Very possible news that Gazelle has been completed and now online producing oil.

Lot of other news due including rewording of sales agreement and payment of witheld 800k from PC plus payment in full for future oil sales invoices.

May even be an update on the farm out.

Mongolia depends on Russia for its fuel, as you know many Russian refineries have been damaged thus reducing fuel out put & exports.

This is exactly why Mongolias first refinery is so important.

https://www.pressreader.com/mongolia/the-ub-post/20251008/281513642348324?srsltid=AfmBOoqGxhEuWjjdP-0P4OhPv-wWVkbpo7Q-T_uaNSaLisYAHE20XZYL

Rookie, your timing is well off, H2 next week, Gazelle by end of month, farm out by year end and expect to hear major update within a month.

We were told pumping the injected fluids started on the 6th, at 100 bopd that should be no more than 6 days pumping injected fluids, we have had around 7 days pumping oil, it is not uncommon for oil production to improve day on day and given the delay in the results i suspect we are looking at better than expected result.

99% sure we will find out this coming week.

MATADs Block XX is vastly important to Mongolia and its future energy needs hence being awarded Special purpose designation.

https://www.energy-pedia.com/news/mongolia/-198761

Indian POW WOW my choice as well,

Also keep in mind that in general the farm in partner will refund a percentage of all producing wells development costs, no doubt based on production, length of well life etc, so in our case all new wells with similar 20 -25+ year life as PC wells have.

With H1, H2 & Gazelle producing we could expect circa 6 million plus.

The farmout relates to Block XX anf Gazelle & GOBI fall within Block XX, see link below page 9 which clearly shows Gazelle & Gobi within the Block XX boundries.

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

I33, fact is Saudi can afford to drop prices due to having the lowest production cost per barrel in the world, interesting comparison on oil production costs below.

https://www.fool.com/investing/2017/03/19/you-wont-believe-what-saudi-arabias-oil-production.aspx

ManxK, as an investor that has always stated i am here for the long term (post refinery & 30p sp) i like that idea, why give half out riches away if we do not have to. No doubt many other investors would baulk at your idea for various reasons.

While its a great shame the oil price has dropped 10% i think you should keep in mind our production is about to increase circa 300% and maybe even more, fact is the oil price fluctuates, right now its down but in a week or two who knows where it could be, our low cost reworks of H2 & Gazelle are nearing completion so this will be the end of spending cash until next year, with our three Brit directors all taking a 70% shave on salary our outgoings over winter will be minimal, there will also be savings due to the electrification of Heron.

There is no doubt H2 reworks are over budget but set that against the GOBI well test now delayed until next year i imagine we are still in a good place.

Still expecting the sales agreement to be reworded and signed by end of November so this will allow PC to pay the $800,000 they are holding back and importantly they will start paying 100% of our future invoices.

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

189, being an oilman i rarely comment on the renewables side but as you say there is little doubt this is ramping up, Sunsteppes CEO Zula Luvsandorj is also an advisor to the Mongolian government and pops up everywhere in the news.

Agreed the renewables will certainly be a money maker, i believe the first of these projects is earmarked for next year and we may benefit to the tune of around 10 million.

LimitedFunds, i hear what you are saying and i agree, however i am not to sure who you consider as rampers & derampers nor have you said which posters you consider are knowledgeable, from my point of view that shenanigans on this board are rooted with the bashers who arrived en masse 12 months ago, prior to that this was a harmonious board, these bashers arrived with the intention of ruining the board by any means possible and that is exactly what they have done, and yes i agree investors have left the board because of this, i also agree some prospective investors may have come here looking for advice and decided against investing in MATAD due to the disruption and discord caused by these bashers, but that is exactly the bashers plan, cause disruption, discontent etc etc, anything that ruins the board.

Big question is why did they come here, for what reason and why MATAD board.

C001959, you may be closer to the mark than you think !!!

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March AGM @ 46:50 minutes.

If we assume $70 Brent then after price adjustment processing handling and trucking fees block 20 receives around about $54 per barrel and applying the PSC terms MATAD Nets around about $43 a barrel.

RNS 16th January backs this up with the following statement: Petro Matad will receive a net back of “more than” $40 per barrel based on a sales (Brent) price of $70 per barrel.

Also keep in mind that once we are supplying the refinery through the new 530 km pipeline we cut out the Petro China processing handling and trucking fees and will get around 8 or 9 dollars more for every barrel of oil.

Hamm, you and others were surprised, i said 2 weeks before the results that Gazelle was nailed on producer, only thing that surprised me was the actual flow rates, much better than i expected.

Hamm, you could well be right about that, more so given the Gazelle results.

MB goes into a lot of detail during the presentation about what he wants from a farm out agreement, the fact is its upto those we are speaking to to decide what they want, once discussions are complete i would not be surprised if we received an offer of a buy out for block XX, yes we can decline that offer and state its a farm out we want but at this time any and every deal is still on the table.

Was great to hear that Mongolia have invited Indian explorers to enter into the Mongolian oil exploration bonanza, great times ahead, more so given the fact we own Block XX which has the only known untapped oilfields in Mongolia that can start producing the vast amounts of oil required by the refinery, absolute no doubt this is why Block XX has been confirmed as State Special Purpose Land. This is the first oil exploration and production area in Mongolia to have been given this status.

Be good if you all stopped bickering amongst yourselves, exactly what some want, a few want to highlight the trolls behaviour others want to filter, each to their own way as long as we are on the same side and all genuine investors should be on the same side, not bickering.