Member Info for abzzba

Gadgie, i can assure you they are working 24/7.

ManxK, where/when did MB say that, i ask as i seem to have missed that bit of info.

Hamm, would be good if you backed up your "positive" vibes with some reasoning ?.

ManxK, Gazelle will not take 20 days, its a straight well test, no acidization, though it has never been stimulated and there was no mention of stimulating in the plans laid out.

But agree, your draft RNS would be nice.

Pilsbury, see link below, should take you to tadays image, if you are speaking about the darker discolouration south east of the well yes i see this (had to play with colour saturation, looks like oil discharge fanning out from the well. (but who knows, the images are not that clear).

https://browser.dataspace.copernicus.eu/?zoom=17&lat=46.82137&lng=116.12303&themeId=DEFAULT-THEME&visualizationUrl=U2FsdGVkX1%2FeF%2Bg0DPbdIOiERC9sHVRpN20fSaGF9bfPZ%2BQ83spPvD0b%2B2wY6fZPJvSpZ5DF3lQ050%2BGe8P75NGG3LCmRNDl30FIz93ruwkA8mMGPUzzX9rrEh9Kuvyc&datasetId=S2_L2A_CDAS&fromTime=2025-03-18T00%3A00%3A00.000Z&toTime=2025-09-18T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&greenRange=%5B0%2C0.7%5D&demSource3D=%22MAPZEN%22&cloudCoverage=30&dateMode=MOSAIC

We are now day 25 of a circa 20 day rework, there are only 2 reasons i can think off that would account for this additional time.

1: As gadgie has sugested we are performing an extended well test, if this is the case it would probably be due to a higher than expected production rate and MB wishing to be 100% accurate in the RNS when stating daily production rate.

OR

2: MB has decided to continue with work and put H2 straight onto production and the well is being completed.

.............................................................

The TROLLs arguements that we are performing water tests do not stack up, 2 reasons,

1: No water tankers seen on satellite.

2: The water test would take two days only.

Worth noting that 30th July RNS states:

“”Block XX one counterparty has reported that it is in the final stages of its evaluation and asked for a draft farmout agreement which has been provided””.

AND

26th August RNS states:

“”As previously reported, one counterparty in our Block XX farm out process requested and was sent a draft farmout agreement and other pertinent documentation. Further discussions have taken place and a draft Letter of Intent is in circulation for acceptance and signature covering the completion of mutual due diligence and negotiations. Discussions continue””.

Just incase any newbies are looking in.

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.

TT1981, last year H2 well test returned 30 bopd, MB stated this as marginal commercial during the winter period, no doubt due to the costs of keeping the oil warm in the storage tanks while awaiting collection, add to this the electric costs of pumping the oil, compressors, hydraulic power units etc now we are changing to grid electric those costs will be less, every little counts.

Proquo, the reasoning is this is the FUD our resident troll wants to spread.

Dozzawba, agreed.

Hamm, not sure where you get the idea H2 is a better prospect than Gazelle, i would have placed them at similar odds.

Dozzawba, i do not have a lot of knowledge re injection wells but will give my thoughts.

Turning H2 into an injector well "at this time" solely to boost production at H1 would be a complete waste of cash, several reasons,

1: we only have H1 as a producer.

2: likely uptick in production would be in the tens of barrels per day (20 - 40 bopd).

3: Consider, H2 is 800m from H1, try and imagine the volume of water that would need to be pumped to increase pressure at H1, we are speaking millions of cubic metres of water, remember the water will take the path of least resistance, it cannot be aimed or pushed towards H1, so yes after months (3 or 4 ish) of pumping we might see some pressure increase at H1.

4: All the above might sound dire but its not, we will need injector wells after we have more producing wells, and once we have many producing wells this is when injection wells will make a real difference.

Sorry, quite sure it is not the answer you wanted to hear.

Our resident troll asks if we will be disappointed if H2 is uncommercial, silly question really, yes we would be disappointed, would it be the death of MATAD, certainly not, Heron extends to 218 Km², a few Km² more than Petro China Tamsag basin oilfield, PC have over 300 producing wells in their part of the Tamsag basin which have made them the largest oil producer in Mongolia, we have drilled 2 wells, hundreds more wells to be drilled in the Heron field over the coming years,

26th August RNS states if commercial results are NOT found the well will undergo water testing to ensure it suitability as an injector well, the satellite images over the past week are not great due to cloud cover but there are several days clear enough to show there are no water tankers onsite, vast volumes of water would be required for these tests so i think we can be assured the delay in the RNS is not due to water testing.

Check each day yourself at the below link.

My best guess is we have a favourable result and we are completing the well right now, case of wait see.

https://browser.dataspace.copernicus.eu/?zoom=16&lat=46.82039&lng=116.12504&themeId=DEFAULT-THEME&visualizationUrl=U2FsdGVkX1%2F0hnvne2wsJ%2BayALactRlDfL09IXQaKP3urMHaAMQSorj7pA%2F6fruQNpTvjnASc5FzySSqTO4Q9%2FTNIobQ3jBGe%2F54IMkT3mUD3xw%2BBm2uA2xMew9HFwfG&datasetId=S2_L2A_CDAS&fromTime=2025-09-18T00%3A00%3A00.000Z&toTime=2025-09-18T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22&cloudCoverage=30&dateMode=SINGLE

Adw198, its a bit late to play the victim card, you wished can....cer on TenBagTag, you called all MATAD investors Aut...istic, you said Margarita was a ret.....tard, you constantly goaded and mocked investors, you laughed at GravyT dead mom etc etc etc.

With every additional day that passes it becomes more likely that we are performing an extended well test, i can only assume the initial well test was better than expected but MB is covering himself by performing an extended test, last thing he would want is to rush an RNS out saying xxx bopd then for it to fall within weeks.

Might we be in for a very pleasant surprise.

8 weeks before winter shutdown, more than ample time to finish off H2, test Gazelle & Gobi.

For info the pipeline from Dornod/Tamsag basin to the refinery is still on track to be completed this year.

26th August RNS.

""" The first phase is expected to take c. 20 days to complete. If a commercial rate of oil production is achieved during the test, then the well will be completed as a producer and production facilities will be installed with the aim to have the well on stream before year-end.""", we are a few days over their 20, quite certain they would know by now if there were not commercial flow rate, the second point in the above being ""production facilities will be installed with the aim to have the well on stream before year-end"", might they have decided to put this on stream now rather than wait, might we get an RNS stating "" H2 tested, xxx bopd achieved and the well has been completed and currently producing xxx bopd"".

https://www.lse.co.uk/rns/MATD/operational-update-uj5k3iau8bz6zmr.html

In all honesty having an injector well to boost pressure at one producing well 800m away does not really make sense, it does however make sense when there are several wells producing and there will be plenty time for injector wells after the farmout deal and we start fast track drilling of Heron, then injector wells will be required.

Next RNS we will hear result of H2 acidize & well test, during 2024 well test we returned 30 bopd, 50 bopd needed to be commercial so not a huge increase to get to commercial production, obviously more is better.

Also expect an update on shyster Petro China payments, lets hope they found their internet banking password last month and even better if the tax authorities have supplied the letter confirming no tax due, we will then get paid the 30% they have been withholding.

Be nice if there is an update on the farm out and how that is proceeding.

Lot of news due, no reason to suspect anything negative.

I33, we certainly seem to attract the lower end of trolls.

Gadgi, you could well be correct,

Last RNS says work will take "circa 20 days", so hardly overdue, so reasons could be leaving the acid a few days longer, longer it sits the more carbonates it disolves, on top of that its even more likely they are waiting for the production rate to stabilise after acidizing and cleaning out the well, an even nicer thought would be they have decided to keep the rig there and use it to complete the well and put it straight into production, seems more likely than any of Adw198 (i am no oilman) fantasy claims.

Just wondering if there is so much oil they cannot keep up with the count (GUFFAW)