Member Info for abzzba

Furry, Example 2 (maybe simpler for those with limited intelligence so might suit you better).

70% of 457,000 = 320,000 (2 month invoice)

So 457,000 divided by 60 days = 7616 per day, divide that by the $40 per barrel = 190 barrels a day, maybe an easier way for yourself and your NEG chums.

I really do wonder how these chumps get by in life when they cannot count or perform simple arithmetic,

GT, maybe Geography was his strong point as it sure as hell was not arithmetic.

Furry, lets see, iwill give you a hand as you guys really seem to struggle with simple arithmetic, now stay awake !!.

....

We received 320,000 for 60 days oil, that equals 70% of what we should have been paid if PC had not held 30% back, (with me so far ?).

so 100% = 457,000 (70% of 457000 = 320000).

so at $40 per barrel we can divide 457,000 by 40 = 11425 barrels of oil over 60 days (wakey wakey).

So divide 11425 by 60 gives you an average of 190 barrels per day.

Please correct me if i am wrong.

Furry, think we shall wait see the results for ourselves rather than listen to someone with your posting history on MATAD.

Are you 100% sure you got your figures correct ?

We are down at 130 bopd now according to furryferret,

MK, tend to agree, despite an additional 450 million shares in circulation there really has not been a lot of selling,

My 30p exit point, post refinery i still believe 30p is a realistic figure, we will get 8 or 9 dollars a barrel more once selling to the refinery, the refinery startup is now estimated as 2027/2028 so we have several years to drill Block XX and we could easily have 20+ producing wells if our farm in partner decides on an accelerated drilling campaign, 20 wells averaging 150 bopd = 3000 bopd, should we have 30 wells do the figures yourself (not the NEGs as they are useless at arithmetic).

I have my exit, 30p

Mongolias problem is we lose 5 months drilling per year due to winter, if our farm in partner would shell out to winterize a rig (mentioned several times by MB) we could drill 12 months a year.

Wigster is the man to thank, it was he that found it.

I33, something i have noticed about the NEGs, they are crap at spelling and arithmetic, RED BRICK eductions indeed, more like foundation courses.

The best is yet to come, and when it does !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Just incase you missed it.

Https://www.proactiveinvestors.co.uk/companies/news/1077425/petro-matad-mobilizes-well-testing-at-heron-2-with-aim-of-bringing-production-online-before-year-end.html

Gadgie, its a nice thought but they have to clean out the well after acidizing, then well test, i do wonder if they are going for an extended DST welltest as i had this work down as 14 days max, must admit i wondered why 20 days myself but if thats what it takes heyho, i can wait

For fun, lets imagine we get 100+ bopd from H2 and the same from Gazelle, then Gobi delivers 200 bopd, few weeks after we sign cracking farm out agreement, i guess this would be MBs fault as well ?

I33,

Covid was MBs fault !!.

Unhelpful governor was MBs fault !!.

Lack of cash was MBs fault !!.

Petro China starving us of working capital was MBs fault !!.

Pressure fluctuations at H1 was MBs fault !!.

etc etc,

Interesting read.

https://www.aa.com.tr/en/economy/russias-gazprom-mongolia-sign-memorandum-on-oil-gas-cooperation/3669502

Mongolia meeting in April, they want Petro China oil production increased but their 20 year old oilfield is played out hence trying to get our untapped HERON field on the cheap.

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

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

Have every confidence that H2 will flow commercial rates of oil once acidized, probably to much to expect it to meet H1 production but commercial will be a real boost to the revenue.

Same goes for Gazelle, again confident, getting both these into production will also make help with farm out efforts, not that long to wait, end of September we should know how much both wells are producing.

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

H2 = 70/75%

Gazelle = better than 50%

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.