Member Info for abzzba

Thoughts on H2, result expected next week, will it offer up a pleasant surprise as well.

Also worth noting Gazelle achieved those flow figures unstimulated.

I33, think you are wasting your time, likes of corpse does not even understand Heron wells and Gazelle are different reservoirs.

This is the problem when you have illiterates like him posting.

Mongolia need the Heron field producing ASAP in order to feed the refinery which needs 30,000 bopd, wells cannot be conjured up, it will take several years to drill Heron wells that will make up for Mongolias declining oil production, Mongolias fall in oil production is due to Herons neighbour Petro China being unable to maintain production from its 20 year old played out field which borders Heron.

Mongolias daily oil production has fallen 14% this year (see link).

https://english.news.cn/asiapacific/20250623/296dafc87d4a43d6b4ccea651511fa80/c.html

Heron is the only known untapped oilfield in Mongolia that has the reserves to meet Mongolias oil needs hence 5th February RNS stating Heron oilfield, 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.

And it belongs to MATAD.

Also worth noting that in April this year Mongolia asked Petro China to increase production however their 20 year old oilfields are played out.

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

Just in case anyone needs info on our farmout and those involved.

It appears there may be a new ENTITY on the horizon. MB confirmed during the presentation that talks with Indian explorer taking place.

Videsh Limited (OVL) a subsidiary of ONGC India are exploring potential oil and gas exploration opportunities in Mongolia. This interest stems from discussions between Videsh Limited (OVL) and the Mongol Refinery, with the Indian Embassy in Mongolia actively facilitating these talks. The discussions include collaborations on oil exploration and other mutual interests.

Here's a more detailed breakdown:

ONGC Videsh Limited (OVL): https://ongcvidesh.com/

OVL, the international arm of ONGC, is actively involved in these discussions.

Mongol Refinery: The Mongol Refinery is interested in collaborating with ONGC for oil exploration in Mongolia.

Indian Embassy's Role: The Indian Embassy in Mongolia is playing a key role in organizing meetings and facilitating these discussions.

“””Specific Focus:The discussions are focused on exploring oil and gas opportunities in Mongolia, with a possible partnership for upstream growth.”””

Historical Context: India has been involved in a project to build an oil refinery in Mongolia, with a $1 billion loan from India. This refinery is expected to utilize crude from Mongolian oil fields.

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

2025: https://x.com/IndiainMongolia/status/1897565460696121451

2025: https://eoimongolia.gov.in/albumimage/Mzg,

Obviously these talks have been ongoing for years, see 2021 article below.

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

Another “possible” in the race is Gobi Terra (UK) Limited, they have just completed a farmout with Elixir Energy Limited earlier this year, they are run by Mongolian financial guru BAYANJARGAL, Byambasaikhan, he has been involved in some of Mongolias largest energy/mining deals including the Rio Tinto mine.

https://www.listcorp.com/asx/exr/elixir-energy-limited/news/farmout-of-mongolian-assets-3154430.html

Also guaranteed Petro China & Sinopec/Dongsheng are interested in Heron.

********************Worth noting.******************

29th September RNS states: The interaction with one of these companies has reached the stage of detailed technical and commercial negotiations.

My money is on Videsh Limited (OVL) due to previous discussions with the refinery & Mongolian mining ministers.

Good to see the constant posts calling for MBs resignation have ceased, it's experience that shines through, always has been in the oil industry.

If I had the choice of which well to drill next it would be Gazelle 2, 45m of sands at the up dip, estimated 5 million bbl oil, at production rate of 500 bopd it has a life of 27 years.

Consider Gazelle 1 was perforated across 8 metre pay area, G2 could be massive $ earner and it's shallow compared to Heron wells.

Looks like a Friday FOMO, with H2 results imminent (next week) can see more buying in today.

TT, agreed, I would expect H2 results next week, let's hope for a good result there as well.

March AGM, net back $43 per barrel based on Brent trading at $70, see transcript & time stamp below.

46:57minutes: 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 that's a pretty high net back by global industry standards which reflects the favorability of Mongolian fiscal terms.

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.

With Brent trading at $65 today we receive $43 less $5 so we receive $38 based on todays oil price.

500 bopd nets MATAD $6,700,000

Mal, hope your right, i am away at the moment and on phone, not ideal.

If i am wrong i apologise.

Fronteracheckin is either an idiot or a NEG in disguise, double check EVERYTHING he is saying

Disagree, the acid wash was dissolving carbonates, ref MBs words,

500 bopd at today's oil price is approx $ 6,700,000 after all deductions.

H2 acid wash was targeting /dissolving carbonate rock, as far as we know carbonate was not a problem at H1, acid wash can dissolve sand as well but needs longer dwell time and is less effective on sand.

If H2 started pumping out the 640 barrels of injected fluids on 6th October we should expect the results of this well test next week, another 100+ bopd would be most welcome.

Choke 0.125” so CSA = 0.012 inch² = As per RNS 160 bopd.

Choke 0.1875” so CSA = 0.028 inch² = As per RNS 300 bopd.

Choke 0.25” so CSA = 0.049 inch² = As per RNS 460 bopd.

Obviously the larger the CSA (cross sectional area) the greater the flow (upto a point, as yet unknown).

Above holds true while the reservoir has pressure however as we saw with H1 this pressure fell away over 5 or so months until we reached the point where we needed a beam pump to lift/suck the oil out, the pressure at Gazelle reservoir may, or may not act the same, it is 4km away from H1 so obviously a different reservoir, if we are lucky the well could continue producing with reservoir pressure (no beam pump needed), or we could see the pressure depleted over a period of months hence reverting to a beam pump.

Very difficult to make a guess on stabilised bopd but one thing I am sure of is Gazelle has surprised many investors and NEGs alike, I am real happy for the investors and laughing my head off watching the NEGs try quench the sp.

Lets hope H2 does the same.

I did say the chance of Gazelle was high and most had underestimated its potential but even I am surprised by today's flow rates.

The real figures for MATADs oil.

March AGM, net back $43 per barrel based on Brent trading at $70, see transcript & time stamp below.

46:57m: price adjustment processing handling and trucking fees block 20 receives around

47:03m: about $54 per barrel and applying the PSC terms MATAD Nets around about $43 a

47:11m: barrel that's a pretty high net back by global industry standards which reflects

47:16m: the favorability of Mongolian fiscal terms.

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.

All the above is checkable, no need to dwell on Fronteracheckin fake AI figures.