Member Info for abzzba

OUCH, Seems Adw lost his arguement as he reverts to crude quips about "her indoors", normal service resumes from this crude character.

🤡 🤡 🤡Adw198🤡 🤡 🤡enjoy !

1. Heron 1 would do 800bopd (infact 155bopd), not a problem, lots of wells at 160 bopd works for me & Mongolia and is how PC became the biggest producer in Mongolia.

2. Heron 2 would be commercially viable at similar levels (not commercial so far), But hopefully very soon, days ?.

3. PC would pay us (you acknowledge this is a massive issue), Agreed huge issue which will no doubt be resolved.

4. there wouldn’t be a dilutive raise at 0.80p (there was, I was right you were wrong) , Worked in my favour, more than doubled my shareholding on the cheap

5. oil would be “a conservative $100 per barrel (I’ve not had an hourly reminder of it ticking up so assume this hasn’t happened yet?) , once the refinery comes onstream we get 8 or 9$ more per barrel, who knows what the price will be next month, next year, or two years, VIVA Donald.

So So easy to make you look silly !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Indeed since i found out that Indian explorers have a genuine interest in Mongolia i am even more optomistic.

MB confirmed during the presentation that talks with Indian explorer taking place.

ONGC (India) overseas subsidiary OVL is 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.

See no need to downgrade my prediction of 30p post refinery, nowt changed other than the timescales.

BP, your not boring me at all, i have said several times i am holding until post refinery which is when MATADs real value will be on the table, 30p plus.

H2::::::::::::::::::::::::::; 100 bopd incoming, could be.

Just when Mongolia need oil production to increase it seems it has declined, latest reports state a drop of $35.5 million for crude oil exports in the first 7 months of 2025, earlier reports states oil production down 14%.

https://akipress.com/news:844438:Mongolia_s_total_trade_turnover_reaches_$14_2_billion/

RNS 16th January 2025 states:

“”The terms of the Cooperation Agreement have been agreed by the parties involved and it is now awaiting signature by the operator of Block XIX. This is expected in February after which sales revenue will commence.””

Little did we realise Petro China intended starving us of cash, we were eventually paid for the first batch of oil at the end of June, however PC held back 30% on some spurious tax issue, at this time it became quite obvious what game the Chinese were playing.

We were advised during 30th July presentation that Petro China had not paid any further oil invoices to that date.

The result being our financial plan for the year was torn up, I think its obvious to most that the latest raise was forced on us due to Petro China delaying and withholding oil sales payment and thus starving us of working capital.

If PC had paid us back in March/April we would have been in a very different position now with at least two of these low cost workovers completed earlier in the year.

The more negative posters keep saying we still could not have afforded these workovers but strangely never give and detailed figures for these low cost operations to support their claims.

Correction to my 18.44 post.

Corpse, season is 8 months and PC get as little as 35 bopd from some of their 20 year old played out wells, quite obviously our wells have yet to be drilled so one would hope and expect a much better average daily production, obviously some wells will produce more some less, its why we use the term average.

Just to add.

Until early this year we were lead to believe by various news articles(Bloomberg/Rigzone etc) that the refinery would fire up March 2026, if this had still been the expected start date for the refinery i am quite sure we would be in a very very different position today.

That said they really need and must get started drilling Heron as it will take a couple of seasons to start producing oil in the quantity the refinery needs, Mongolias daily oil production right now is circa 14/15k bopd, MONGOLIA & the refinery need that increased.

To fast trac drill of Heron in similar manner as PC have done in their field would mean circa 35 wells drilled per season, assuming 60% success (similar to PC ops) would mean 21 producers from these 35 drilled wells.

21 x 150 bopd = 3150± bopd, so over 2 seasons around 6300 bopd from Heron. When added to the rest of the Mongolian oil production this would probably be enough for the refinery as its unlikely to start off at 100% capacity.

100% sure the BASHERs will love this post !!.

I33, i have always prefered the JV/Farm out option, have said that several times, reasons being once we start supplying the refinery we get much better price for our oil and the most stable market there can be, i understand its a more long term play but i am in no hurry.

Also i am on record as saying i think we could easily hit 30p plus once the refinery fires up, they will be happy to take all the oil we can supply and will no doubt need extra from PC / other producers, anything above the 30,000 bopd the refinery need then the likes of Petro China can ship that back to China which is what they really want to do anyway.

Makes perfect sence that Heron has been granted State Special Purpose Land status given its importance to Mongolia, the refinery and Mongolias Vision 2050, it is the only oilfield that can supply the oil the refinery needs, there are no options.

Also they need to fast track drilling of Heron as it will take a few years to drill the wells required to supply that oil in the quantity required, we know from the Mongol /Petro China meeting in April that PC are in no position to increase production, its a win win situation for MATAD and the shareholders, just got to be patient.

I33, its Newton's Third Law of posting on MATAD board, for every positive post there has to be an equal and opposite reaction.

Background info.

https://envoi.co.uk/wp-content/uploads/2020/07/P261PetroMatad(Mongolia-BlockXX)EnvoiIntroductionFlyerJune2020.pdf

Corpse, your quite right in stating Mongolian oil production is on the decline, 14% in 2025 according to articles i previously posted a link to, but the reason for that is simple, Petro China who produce 90% of Mongolias oil are lumbered with a 20 year old oilfield which is essentially played out, all best prospects already drilled, Heron however is untapped, hardly drilled and at the very start of its 20 - 30 year life, big difference and probably 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.

To keep it simple Mongolia need Herons oil for the refinery, they appear to have no options

Quick sale or JV/Farm out ?, some favour outright sell others see more value long term in a JV/Farm out, certainly once Heron is supplying the refinery we would get almost 20% more for each barrel of oil ($9 more), why, no trucking cost, royalties, storage costs etc etc. oil goes straight in the new pipeline directly to the refinery so long term a JV /Farm out would be good but even a sell out can have a clause we get to keep 5% /10% of the oil, absolute any and all deals on the table, but one step at a time, lets get these workovers done and dusted and create revenue while we wait for the deal.

Wigster, initial RNS below but there was another later, will see if i can find it.

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

As a well is drilled cuttings from the different depths are taken and recorded with the depths, these can later be geochem analysed for oil traces and give a good indication to the depth and location where the migrated oil has moved to, its not rocket science.

MB now has those results and i very much doubt he would waste money on a well test unless he was confident in the outcome.

Hamm, please DO NOT lie or distort my posts, that is not what i have said.

Geochemical analysis of the Gobi well cuttings will point to where the oil has migrated to, on reviewing the results of the geochem analysis MB is clearly confident they know where to test.

So many on here "HAVE NOT A CLUE" about oilfield operations and standard practises yet love to post their theories

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