Member Info for abzzba

Our Kev, i guess that the Indians see some value in Mongolian oil given they have invested well over a BILLION for the refinery which they started several years ago and have yet to see a penny back yet.

MK, i would agree, RNS soon, quite possibly next week, its just an acid wash, basically disolving carbonates build up around the perforations that would block flow and limit production,

Adw198, agreed you have not wished cancer on anyone for quite some time, nor have you called all MATAD investors autistic for a while, you have limited yourself to the more mundane laughing at investors dead mothers etc, margarita, thanks for keeping records of Adw198 posts.

Margarita, why do you insult parasites ?.

Meantime MEIL snippet below.

https://www.facebook.com/reel/1102650291485966

Pretty good chance of an H2 RNS next week, really do not see why an acid wash and well test would take 20 days.

Tend to agree, MATAD destined to play a major role in Mongolias energy future and the Heron field is at the heart of this hence being made state special purpose land (Feb RNS)

ManxK, you appear to have started this thread, for info the pipeline will carry gas, not oil.

https://www.cnbc.com/2025/09/02/power-of-siberia-2-russia-signs-new-gas-pipeline-deal-with-china.html

MK, i had considered that myself but if they wanted Russian oil they can have it anytime, Mongolias dream / Vision 2050 is to be energy independent and self sufficient, the pipeline just traverses their country.

In a farm-out, the original operator (MATAD) retains ownership, Joint ventures involve shared ownership and responsibilities,

https://legal-resources.uslegalforms.com/f/farm-in

In a farm out it is normal practise for the farmor to pay a lump sum towards the costs of any producing oilwells so even more important for MATAD to get oil flowing at H2, Gazelle and Gobi.

The H2, Gazelle & Gobi workovers are hugely important but lets not forget the farm out deal going on in the back ground, at least three interested parties, negotiations with one of these is far more advanced with draft agreement already supplied followed by a letter of intent.

And it is a farm out, NOT a JV as some would have you believe.

GOBI migrated oil.

GOBI RNS states 34m reservoir quality sandstones but little oil show, the oil was formed there but reservoir forces/stresses/pressures have shunted that oil out of the sandstone and into another part of the reservoir, analysis of the cuttings which are bagged and depth tagged during the drilling process should point to the depth where the oil is hiding.

Geochemistry of oil well cuttings involves analyzing rock fragments (cuttings) brought to the surface during drilling to understand the subsurface geology and potential for oil and gas. This analysis helps determine source rock characteristics, identify potential reservoirs, and assess the properties of hydrocarbons present.

All that oil is still there, just not where it was formed.

Excellent youtube on migrated oil which essentially explains our Gobi well.

https://www.youtube.com/watch?v=pwZi3W64Ot4

Gobi well cuttings.

What we have been doing to prove up GOBI Bear 1.

Geochemistry of oil well cuttings involves analyzing rock fragments (cuttings) brought to the surface during drilling to understand the subsurface geology and potential for oil and gas. This analysis helps determine source rock characteristics, identify potential reservoirs, and assess the properties of hydrocarbons present.

Below link is heavy reading (not suitable for Adw198) but gives an insight on what has been done.

https://www.slb.com/products-and-services/innovating-in-oil-and-gas/reservoir-characterization/surface-and-downhole-logging/cuttings-analysis

In the 30th July presentation MB states chance of success as follows.

H2 = 70/75% CoS.

Gazelle = better than 50% CoS.

Gobi, MB would not be drawn on a CoS but feels confident, if we hit the sweet spot we are laughing, if we miss we can still end up with a commercial oil well, we could off course miss the oil completely but one would hope that with the addition of the wireline logs and geochemical analysis of the well cuttings we now have a much better understanding of the well than we did pre drill.

Good to hear we will finally be changing over to grid electric rather than using expensive and costly diesel generators, our H1 electric requirements include the following, beam pump, hydraulic pumps, compressors, separators but our biggest spend electric wise would be in the cold winter months when our stored oil needs to be kept warm as oil becomes more viscous (thicker) at low temperatures making it harder to flow and pump into the trucks that collect it. grid electric is a win win situation as well as being more reliable than generators which have a tendency to break down it much cheaper, good move by MB.

Back in the 60s the Soviets built a small refinery in the GOBI to process the oil from their 2 GOBI fields but they blew the refinery up before leaving after massive oil deposits were found in western Siberia

History lesson for today !!

https://www.ogj.com/home/article/17226626/mongolia-re-joins-oil-producing-world

H2 fact, not NEG fiction, what was really said, check the LSE interview, MB actually said that at 30 bbl/d H2 was marginally commercial during the winter months, hence its commercial during the summer months, I would assume this is due to the costs of keeping our waxy oil hot and less viscous so it will pump easier during the winter months, will be very interesting to see the production rates after acidizing which can improve production by a factor of x4, that might be a bit much to hope for, I would be very happy with 65+ bopd though more is always better.

18th June RNS = Gross proceeds of $1.18 million were received representing 70% of the invoiced amount. Invoice total = $1,685,714 outstanding = $505,714

26th August RNS= May/June invoice = $320,000 received (70% of invoice total) invoice total = $457000 outstanding = $137,000.

July invoice = At time of writing no payment advised. Invoice circa $225,000.

Outstanding amount owed by Petro China = $642,714 ($505,714 + $137,000).

Outstanding amount owed by Petro China including July invoice = $ 867,714.

August invoice will be raised soon.

MONGOLIAN MINING WEEK Exhibition, September 9 to 14

https://www.fluidexspain.com/en/eventos/trade-delegation-to-mongolia-2025/

Proquo, yep, lot of news to come, should have H2 & Gazelle results this month, acid currently eating away & disolving the carbonates that restricted H2 production, once H2 & Gazelle are completed we go straight onto Gobi Bear 1.

And yes a few new faces for you to filter.

In a farm-out, the original operator retains ownership, Joint ventures involve shared ownership and responsibilities,

https://legal-resources.uslegalforms.com/f/farm-in