Member Info for abzzba

The refinery is almost certainly why Heron/ Block XX 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

Master, you say "we need results", you do realise we are working on H2 right now and you will have the results around mid September, then the rig goes 4km to Gazelle, this should not take as long as there is no acidizing, does need perforated but this is reasonably quick job compared to acidizing, Gazelle result should be around the end of September, then onto Gobi.

Maybe try and be a little more patient for the next 30 odd days, we want a good job not a rushed job.

//////you might aswell hire a parrot..same **** just another day.\\\\\\, fact is there is only one set of truths to tell but there are an infinite number of lies.

Wigster, not stealing your thunder, indeed would not have known about it if you had not posted so thanks,

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

Keep to investment case, the fact both H2 & Gazelle results will be known by the end of September, no doubt more farm in news in the coming weeks, 30th July presentation we were told talks with one entity at advanced stage, 4 weeks later we are told further discussions have taken place and a draft Letter of Intent is in circulation for acceptance and signature, things are moving faster than expected.

Folks, ignore this twat, he is here to disrupt and by engaging you allow him to fill the board with FUD.

Keep to investment case, the fact both H2 & Gazelle results will be known by the end of September, no doubt more farm in news in the coming weeks, 30th July presentation we were told talks with one entity at advanced stage, 4 weeks later we are told further discussions have taken place and a draft Letter of Intent is in circulation for acceptance and signature, things are moving.

Let our resident troll speak to himself or his chums, just keep posting, do not let them scare you off, this is what they want.

Billions at stake here.

Think we can be assured the deal will be done reasonable quickly, certainly in time to start accelerated drill program of Block XX at the start of 2026 drilling season, given planning, ensuring equipment is available etc i would guess we will see the deal completed later this year and almost certainly sooner than some think.

Mongolia NEED it done.

// ADW is the most obnoxious poster on this board\\, mal, i am pretty sure he excels in the obnoxious department, indeed it may be the one and only thing he does excel at.

Thornogson/ftse, well said re farmout, also keep in mind that playing one off against the other is part and parcel of negotiating, how great would it be if the advanced talks are with the interested Indian party, no doubt Petro China & Sinopec/Dongsheng would be real piZZed off, they may even be forced to speed up and boost their own interest and efforts as we can be 100% certain both PC and Dongsheng would be in the running.

Also keep in mind the discussions Mongolia had with Indias Videsh Limited (OVL) back in 2021 plus the virtual meeting between the refinery operator and Videsh Limited (OVL) earlier this year.

I seriously doubt Mongolia would get in the way of any farmout, why would they, they NEED to increase their dwindling production which as ftse points out is currently sitting at around half of what the refinery needs.

Once H2 & Gazelle workovers are completed its straight onto Gobi, lets hope we hit the sweet spot, could be the company maker all by itself.

Good result with H2 will certainly boost confidence, similar good result with Gazelle will do the same and help in farm out talks,

Below are various links each complete a bit of the Mongolia/MATAD jigsaw.

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/

Adw - still lying and spreading false info//// its why he is here, same as the rest of the BASHING clan that arrived almost a year ago.

Anyway, forget him, back to important things like MATAD.

By the end of September we should know H2 & Gazelle results, expecting commercial results from both these.

Hamm, i tend to agree but suspect MATADS real value will come once we are supplying the refinery, ref your earlier post, from reading the Gazelle RNS i am very confident of commercial flow rate at Gazelle, very hopeful H2 & Gazelle combined can add at least 150 bopd and very possibly more.

I33, cannot really say i understood all that but the gist appeared to say Adw is not right in the head, to that i agree, much the same as Stockmad, complete loonytune

On 5 March 2025, Embassy of India Organized a Virtual Meeting between ONGC Videsh Limited (OVL) - a leading global Indian State Company and the Mongol Refinery and discussed various issues of Mutual Cooperation in the field of Oil Exploration. Ambassador HE Mr Atul Malhari Gotsurve, Shri Sanjeev Kumar, Second Secretary, Shri Rajarshi Gupta, Managing Director & CEO of OVL and Other Senior officers of OVL, Dr Altantsetseg, Executive Director of the Mongol Refinery and other senior officers of Mongol Refinery participated in the meeting.

Just in case anyone needs 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.

My optimism stems from the fact Mongolia need 30,000 bopd to run the refinery at 100% capacity, given Petro China 20 year old oil fields are played out and mongolias oil production is around 16,000 bopd and is in decline this year by 14% we are in a great position, Heron/ Block XX is the only untapped oilfield that can supply the refineries needs, and that is fact.

Always worth remembering when we start to supply the refinery we get 8 or 9 dollars more per barrel, no onsite storage, no trucking to China, no royalty to PC, plus always the added bonus they will pay the full invoice total on time, something PC seem loath to do.