Member Info for abzzba

OilmanJim1, link working ok.

But if you google the below it should lead to the link as well.

Zula Luvsandorj On How Leaders Are Preparing for The Innovations

Best to stick with the FACTs rather than unsubstantiated claims made by those with a negative agenda.

The relevant takeaways from the recent RNS.

1: H1 well production, when compared to data the Company has for other wells in the basin indicates a pressure profile similar to some of the BETTER producing wells in Block XIX = H1 production equals Petro China higher producing wells.

2: H1 reservoir has shown no boundries as yet = reservoir is massive.

3: During the pre-acid clean up of H2 gas and oil were observed in greater concentrations than those seen in the original well testing programme conducted in October 2024.

4: Petro China / tax issue nearing completion, we should soon start being paid 100% for our oil, plus lump sum for the 30% PC withheld payments.

5: Acidization completed H2 well will now be completed by running completion string and bringing beam pump and oil tank etc onsite, bopd will be advised after injected fluid removed and pumped tests are completed.

6: Heron is connecting to the electrical grid, expected completion mid October, 15% saving in energy costs.

7: Farm in: interaction with one of these companies has reached the stage of detailed technical and commercial negotiations.

8: The rig has moved to Gazelle wellsite where it will perforate & conduct well test, results expected this month.

*********************************************************************

Zeus note 29th Sept 2025: The renewables projects are moving forward at different rates, but we believe the earliest one of them could get to ready-to-build stage in 2026, and at that point Petro Matad could potentially look to sell its interest for cash.

**********************************************************************

Once farmout is agreed it would be normal for MATAD to recover at least part of the development costs for all producing wells.

By the time the refinery is ready late 2027 we should have had 2 seasons drilling with farm in partner, we should have sold at least the first of our renewables projects and we will be receiving 8 or 9 dollars more for every barrel of oil supplied to the refinery, X 50 BAGGER is quite possible.

Meantime there is a bit of leg work to do,

Mullins58, agreed, at the moment the NEGs will be laughing their heads off, lets concentrate on MATAD and our current reworks, one day closer to fruition

Guys, the board is bad enough when we have Adw, bp, doc, master, Hamm etc etc etc, spreading FUD, your spat is not helping, investors should stick together, kiss and make up. (please).

Proquo, agreed, mail ir@MATAD with your concerns including your issues with MB or any other issues you have, they do not always reply but mostly they will, eventually.

Hamm, if investors (me) feel its wrong to saddle MB with the blame is it fair for you, bp & master etc to call him out day after day ?

Petition to get Buck out. IDIOTS, half dozen signatures at most and that assumes they can all write.

189, would agree. if your willing to hold for a few years until post refinery startup todays price will look really stupid, someone said 2p next year, i suspect far more than that with a farmout, post refinery i fully expect 30p, remember when we start srlling direct to the refinery we are looking at 8 or 9 dollars more per barrel, no PC trucking costs, royalties or paying energy costs to keep our oil warm in winter.

Bp, glad you ended the post with LOL

Yesterdays RNS states: "To date, data from Heron-1 does not show that any faults or reservoir boundaries have been encountered that limit reservoir volume.".

For those that do not know what the above means read HERON reservoir is HUGE !!

We know Mongolia must increase oil production for the new refinery that is being built, new completion date is 2027, 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.

We know a pipeline will be completed later this year, it runs from a few miles from the Heron field upto the new refinery.

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, they are desperate to get their grubby hands on MATADs oilfield to the south (Heron field), its the only known untapped oilfield that can deliver oil in the quantity needed by the new refinery.

TT, you were right, your 137,799 buy recorded as a sell, nowt new there.

16th January RNS: Negotiations on the Cooperation Agreement are complete and it is now awaiting signature.

Would bet MB never thought Petro China would take months to sign the agreement nor wait till June before paying, add to this the 30% they have held back plus the late payments, who would have thought an oil major could be so unprofessional, strange our NEGs never mention these "little" details.

Will be interesting to see when they start flowing oil through the pipeline, i estimate around half million barrels required to fill the pipeline, pipeline storage heating tanks and refinery storage tanks so several months to fill the infrastructure that will feed the refinery.

Meantime poor old MB comes under attack by a couple of those posting on the board, i guess it was MBs fault Petro China delayed signing the oil sales agreement, delayed monthly payments, held back 30% of all payments, etc etc.

As for the sp i think some have short memories, H1 came onstream 11 months ago and most seem to forget a huge amount of negative posters started posting, many of those with fake / multi ID accounts that were eventually banned by admin, a few remain creating a bad smell and disrupting the board whenever a positive RNS arrives, roll on increased production from H2 & Gazelle, roll on the farmout, roll on the renewables, all to play for.

Gadgie, H2 results by end of the week is a great thought but i would guess we will not see the H2 result until mid October, agreed refurbishment of the beam pump really is not a big deal but we need to pump out 640 barrels of injected fluids, thats 4 or 5 maybe even 6 days pumping, then we continue with pumping and will be sucking oil up, i would expect them to draw oil off for a several days before giving a result,

I think 300 bopd to be a consevative estimate after H2 & Gazelle reworks.

I can see H2 surprising most on here, even genuine holders and i have always been confident with Gazelle, we will know soon enough.

Proquo, i think many over estimate the technical aspects of a beam pump, it can easily be serviced/refurbished while being connected to the well, essentially it works in the same fashion as a giant syringe, replace the plunger seal, grease it up check the motor is working and off we go, its a pretty basic piece of kit with not a lot to go wrong.

Once that 640 barrels of injected fluids are sucked up then we will be pulling up oil and if we get a bit of gas pressure who knows where the bopd will end up.

Shame we have a couple of bashers hanging about but at least no one takes their unsubstantiated claims seriously, think most readers now realise its best to stick with genuine facts and the links that are posted.

Dozzawba, just sent it, note i use PDFgear rather than Adobe but the file opens with Adobe as well.

Below are various links each complete a bit of the Mongolia/MATAD jigsaw. Do your own research rather than reading drivel from our NEG friends.

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

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

0il production declining, Petro China fields played out. Refinery 2027.

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

MATAD timescales for the workovers, Page 11.

https://www.petromatadgroup.com/wp-content/uploads/2025/07/Corporate-Presentation-30_07_25-Petro-Matad.pdf

Articles relating to potential farmees/partners for MATAD.

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

2021: http://www.mongolianbusinessdatabase.com/base/newsdetials?id=27601

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

Old Wolf Petroleum document but interesting read, 10 billion

https://announcements.asx.com.au/asxpdf/20130328/pdf/42dy4gbvvs072h.pdf

Evolution of the Tamtsag Basin, Part 1 & 2. Old doc but interesting.

Part 1: https://e-docs.geo-leo.de/server/api/core/bitstreams/63b84f7a-5d1b-44cc-9e53-d90adbadf51e/content

Part 2: https://e-docs.geo-leo.de/server/api/core/bitstreams/d9f76b34-cb69-40e6-8fcb-9f25e58f4405/content

Heron Competent Persons' Report increases total mean unrisked in-place oil194 million barrels.

https://www.lse.co.uk/rns/MATD/operational-update-gfibfo9mhp20u0j.html

Good news for Sunsteppe.

https://mongolia.gogo.mn/r/ko8xm

https://www.abtglobal.com/insights/impact-briefs/building-self-reliant-energy-sector-in-mongolia

If you have not looked at Sunsteppe you can do so at the below link.

https://www.sunsteppe.com/about-us/

2021 Mongolian oil industry facts /figures on fields/oilco/production.

https://mongoliainc.com/key-commodities/oil/

Heron designated as State Special purpose.

https://www.lse.co.uk/rns/MATD/certification-of-block-xx-exploitation-area-kfsvh3vqi29j5pn.html

Mongolian oil/ Tamsag Basin info.

https://geoexpro.com/upstream-projects-for-the-global-transition/