Member Info for abzzba

To summarise previous posts into one, it appears there may be a new ENTITY on the horizon. 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):

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.

Even on a non trading day the NEGs want to disrupt the board and fill it with DRIVEL.

MB very upbeat during the presentation, even putting high chance of success on H2 & Gazelle (75% / 50% respective).

H2 result by end of August, Gazelle result mid/late Sept, Gobi by mid to late October.

H2 = 100+ bopd would be good result, higher even better.

Gazelle 95+ bopd would be good result, higher even better, really could do more.

Gobi, could be huge if we hit the sweet spot.

H2 result by end of August, Gazelle result mid/late Sept, Gobi by mid to late October.

H2 = 100+ bopd.

Gazelle 95+ bopd

Gobi, could be huge if we hit the sweet spot.

Think its quite clear what we are looking.

RNS: Farm out

As previously reported, the Company has stepped up its efforts to find partners to join it in Block XX development and Block VII exploration. On Block XX one counterparty has reported that it is in the final stages of its evaluation and asked for a draft farmout agreement which has been provided. Petro Matad has focused its most recent efforts on potential Chinese partners including companies active in the producing basins in northern China that extend into Block VII. The Company's goal is to have partners fund a work programme in return for a working interest and in the case of Block XX is looking for an injection of capital to fund enough wells to allow production to reach a level that will sustain the ongoing development of the reserves.

From the presentation (MP3 to text conversion).

We want an injection of capital from somebody else, not our shareholders, not off our own balance sheet, not from production revenue, which is relatively slow to build up at these well rates. We want to bring in a pharmacy who's going to invest their money on wells that will get us to a state where the production from the field is enough to fund the ongoing development of the reserves. And we are in that process at the moment.

We have one counterparty that is very, very well advanced in their evaluation and they do seem very keen. So we are pretty hopeful that that is going to generate at least one proposal. We've got two other parties we're talking to. Perhaps they're not quite as far forward as the first, but we are very, very confident that this is going to generate, this is generating interest and that it's going to generate some offers that we will then be able to evaluate.

What we're looking for is a decent amount of capital to be injected to actually do the work that I just described and get us to a position where we can increase from our current level of production up to a level of production that allows us to go forward with an accelerated development, therefore a creation of value. So on the Heron Field itself, the picture shows what is currently set up at the Heron No. 1 well.

Thornogson, agreed, i am more than happy to leave it in MBs capable hands rather than argue the toss with uninformed posters on this board.

But we cannot be sure, as your first post said we simply do not know,

Unnd, you confuse yourself, from a defined date all existing wells including those we drilled and we paid for before the "defined" date, i think MB would want a bit more in the pot before he gives away H1, H2, Gazelle etc,

Think making it up as he goes, very similar to our Adw

Unnd, so its not from a defined date as you said in the previous post, make your mind up, it either is or its not, it cannot be both.

Unnd, so straight percentage from defined date would seem to suggest our wells drilled and producing prior to that date would remain 100% MATAD, as you said in your first post when you "attempted" to interject some doubt, no one knows what deal will be struck.

But we do know Mongolia desperatly need the oil and they need to get drilling ASAP, plus we know MATAD own the Heron field, seems the ball is in out court.

Unnd, and you know that how ?, as you said (and i agree) no one knows what deal will be struck, will the already drilled and producing wells stay 100% MATAD, would they be included, no one knows.

Should we end up with Indian partner very very possible they will bring their own rigs/equipment and crews in, they can afford to do this and it would reduce costs considerably.

One horizontal well might cost twice as much to drill but can easily deliver 8 times more bopd.

Adw calculations are a bit simplistic but i guess that is understandable.

Farm in partner drills one horizontal well this equals anything from 4 to 10 vertical wells (depending on far the drill extends horizontaly) but do love Adw lecturing us on drilling and wells, quite comical.

I33, would agree, the important bit is we come out the other side, now we have funding for these 3 wells we will, hopefully a farm out agreement soon and we are home dry.

Good to remember when the refinery does get running we will be collecting quite a bit more for our oil / or share.

Stockmad, thats history, its the future that counts !!!!

Would STRONGLY suggest you check the facts our resident De-ramper Stockmaid posts.

Real facts below.

Mongolia new refinery needs 30,000 bopd, Mongolian current production is circa 15,000 bopd, shortfall = 15,000 bopd.

Very recent reports (June 2025) state oil production fell in Mongolia by 15%, MATADs untapped Heron field 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, Heron is the only known huge and untapped field Mongolia have, all other fields developed 20 years ago by the Chinese are played out.

Do your homework.

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

Mongolia oil output falls 14.9% in 2025, easy to see the importance of MATADs huge and untapped Heron field.

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