Member Info for abzzba

Competent Persons' Report increases total mean unrisked in-place oil resource potential of the Heron structure by 20% to 194 million barrels.

Easy to see why Heron is so important to Mongolia and its energy needs future, also understand why it was designated State Special Purpose land, ref 5th Feb RNS.

Mongolia energy needs & MATADs future are entwined.

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

Margaritas, it always good to let others see the type of characters on these boards, keep up the good work, readers can judge for themselves if this is the type of person they should listen to though i would have thought that would be obvious by now.

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/

Mongolian oil/ Tamsag Basin info.

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

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

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

Always best to stick with factual info rather than unsubstantiated claims.

Mongolia meeting in April, they want Petro China oil production increased but their 20 year old oilfields are played out.

Recent news has said Mongolia’s oil production has fallen 14% this year, just when Mongolia need to be increasing production as the refinery needs 30,000 bopd to run at 100% capacity, same article states Mongolian oil production is currently around 16,000 bopd.

Transcript and link below.

""Minister Ts.Tuvaan emphasized the project’s national importance, noting the critical need to secure Mongolia’s 1.5 million-ton crude oil supply. Discussions with PetroChina Dachin Tamsag to boost crude oil production to 750,000 tons this year have encountered difficulties, though officials remain committed to achieving this goal. ""

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

The refinery is almost certainly why 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.

There is no doubt that Herons oil is crucial for the refinery project and Mongolia’s future, See RNS below.

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

Question Is, was Mongolia’s plan always to bring India’s OVL in all along, as we can see from my previous links there were serious discussion between OVL and Mongolian ministers back in 2021, have MATAD been used to explore and find the oilfields, this would explain the wildcats, was MB / MATAD part of this master plan, MB is known for being an explorer, will we partner/JV with ONGC/OVL or will they buy our Heron field outright, it really is the only known untapped oilfield that can supply the oil in the quantity the refinery will need.

Just in case anyone needs info on our farmout and those involved. (rather than reading the garbage being posted by the NEGs).

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.

So, the odds according to MB.

H2 = 75% CoS = 3/1 on.

Gazelle = better that 50% = evens or better.

Gobi = MB would not be drawn on CoS but obviously now it has been drilled we now have wireline log results plus the geochem analysis of the well cuttings and if MB says we drill then we do.

Judging by the amount of disruptive posts already i assume the NEGs are getting a bit worried that H2 will deliver, or even worse, Gazelle might deliver as well, hints of desperation creeping in, lots of references to historical posts to prove investors wrong, as ftse stated in his earlier post hindsight is a wonderful thing, if only we had known back in January that Petro China would take 6 months to pay us, whats done is done, unlike Adw investors can now look to the future, lets hope good results from H2, Gazelle and a speedy conclusion to the farm out talks.

Margarita, I tend to agree with your post, would also mention I see little point dwelling on this as I do not forsee any issues with H2, MB obviously agrees as he has put a 75% CoS on this rework, fair to say those that wish to instill doubt do so for ulterior reasons.

Indeed exciting and dare i say profitable times ahead for MATAD and their investors, while i doubt Stockmaids £19 per share is achievable i do feel my estimate of 30p per share post refinery is very achievable.

Gadgie, Matad and Mongolias energy needs are entwined, all to do with Mongolias dream of energy self sufficiency.

https://thediplomat.com/2025/08/mongolias-continuing-quest-for-energy-security/

Petro China 20 year old Mongolian oilfields are played out, they need new untapped field with huge reserves, Block XX Exploitation Area which contains the Company's producing 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. ref Feb 5th RNS,

Mal, agreed, should the worst happen and H2 cannot be made commercial it can be turned into an injection well to increase reservoir pressure, this will result in higher production rate at H1 and any other wells drilled in the Heron field, only real downside being it would take quite a few months of pumping to see any meaningful increase at H1, it a well known well used technique used throughout the oil industry.

******* Power of positive thought, keep thinking H2 and 150 bopd*******

Mal, i do find it strange people post answers from ChatGPT and the like but never post the question they asked so everyone can check, no transparency.

i33, agreed, good results with H2 & Gazelle (good = 150+ bopd combined) will see some gain for sure, obviously higher the better, Gobi is the unknown, could be huge, could be average or we might miss the the oil, even if we miss it may not be finished with, sidetrack drilling may well be an option in the future, but should we hit the Gobi sweet spot we will be happy investors, even if its just H2 & Gazelle it helps prove up Block XX value and enhances our farm out discussions.

What price will we be at the end of 2026 drilling season ?, take a punt but its got to be double figures if the farmout results in a partner with deep pockets.

I know many posters love using ChatGPT and similar so thought i would ask the question, below is my question and the answer supplied (as ever there are no guarantees).

Question for ChatGPT: Onshore oil well 2800m deep in known producing reservoir returned 35 bopd during well test, further investigations show carbonates present and an acid wash is being conducted, what might be the resultant increase in production.

ChatGPT Answer: Short answer up front: You can reasonably expect anywhere from ~30% to >200% uplift depending on how much near-wellbore skin the acid wash removes and whether you open true wormholes — a practical, likely range for a 35 bopd well is roughly 45–105 bopd (moderate case) with extremes from ~42 bopd (small benefit) up to >150 bopd in lucky/high-damage cases.

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My thoughts, If its a commercial rate i will be happy, but more is always welcome.

Furry, your apology was much appreciated, I understand arithmetic is not everyone’s forte and errors can be made, note, I was not trying to make a fool of you, I was simply pointing out the inaccuracies in your calculations.

You ask me how many “bag” do you need to get your money back assuming your average is currently 2.69p, from today’s price of 0.825p you need the sp to rise 226.0606%, hope that helps, hang in there as I believe this price and well beyond that will come before the start of the 2026 drilling season.

In an earlier post you stated acidization normally returns a 40-74% increase in production, if the acidization were targeting sand stones that is about right however we are targeting carbonates (hear MB explanation on this during 30th July presentation), when targeting calcite/carbonates acidization can produce several fold (upto 400% not uncommon) increases in production, it’s not guaranteed, nothing ever is.

PS, also appreciate your post stating you will hold off posting anymore until after H2 results are released, I and others will appreciate that, just wish others would follow your example and wait for the results.

Adw, do the figures yoursel, or get mum to help.