Member Info for abzzba

Very reasonable mail, draft farmout agreement provided to 1 of the entities, lets hope its NOT Petro China.

CEO taking 70% salary cut, NEGs listen.

H1 stable production.

H2 shale deposit to be acidized,, oil will flow.

If proof were needed that Petro China are trying to starve us of cash : Petro Matad has submitted invoices for May and June production as per the oil sales agreement but payment has not yet been received.

NOW we can understand the raise.

SUE----------------PEACHY---------------------???

TT, that is a fact, they are not here for fun

Brent now 72.68. The kids antics distracted the grown ups.

We had RNS update on the day of the AGM.

Worst case scenario we get an update and some questions answered so not all bad, but an RNS would be the icing on the cake

Fair to say that if we get a real good result acidizing H2 MATAD may just consider acidizing H1, we know it had sand earlier in the year so it could be worth spending a bit more cash to improve production, that said I expect production to increase there anyway, initially oil was pushed out by reservoir pressure, now that pressure is depleted we are sucking the oil out with a beam pump, the changeover would dictate MATAD reduce the production rate before building it up again after monitoring the well.

LuckyR.

100% sure PC would like to make a real crappy offer given their own 20 year old field is played out, see below.

..............................................................

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

I would agree its a shame we never had the raise much earlier in the year, but whoever would have guessed Petro China would try and starve us of cash, now we know they are corrupt, certainly corrupt enough to manipulate MATAD

Like kicking a hornets nest GUFFAW.

Dax, really, 1.85 billion shares does not sound that dilluted to me, debt free, Heron field with 33 million barrels of recoverable oil as reported by Competant Person report, but could be several times that, seems we have a much less aggresive more well mannered group of bashers working the board, all those complaints to LSE last week seem to have worked, to an extent.

Certainly hoping for an RNS pre meeting, without one it will only be an update on already released news ie H2, Gazelle & Gobi rework, way ahead etc etc.

And yes 4.8p and far beyond is easily achievable, H2 & Gazelle can deliver commercial oil, not huge amounts but enough to cover costs when added to H1 production, but hit Gobi sweet spot and that could be huge, and thats with out a buyout/farmout.

//around 4.8p? Has that become a dream price for MATD now?// , if its ok with you i think i will wait, this moves so fast and if we get a whiff of a buyer / farmout it will rocket, time for the BASHERs to jump on the keyboard.

Excellent article on acidizing can be found at below link.

https://www.api.org/-/media/files/oil-and-natural-gas/hydraulic-fracturing/acidizing-oil-natural-gas-briefing-paper-v2.pdf

I would expect H2 to be first up for rework, MB has stated it will be acidized and well tested, acidizing is a well stimulation technique used in oil and gas wells to improve production by dissolving formation damage or enhancing the natural permeability of the reservoir rock. It involves pumping acid solutions (such as hydrochloric acid or hydrofluoric acid) into the wellbore and surrounding formation to open up flow channels, it can improve production by a factor of ten, probably that is too much to hope for, we know H2 well tested at 30 bopd so a factor of 5 improvement would be a good result.

Keep in mind MB stated during the LSE interview (9m 03s) that at 30 bopd H2 was only marginal commercial in winter, the reason for this would be, during the harsh Mongolian winter the oil stored at the well site must be kept warm so it can be easily pumped into the tanker, we really do not need a huge increase to make H2 commercial but obviously the more the better.

During the LSE interview he also mentioned re-perforating so they seem convinced oil is there in commercial quantity but some issue, either well damage resulting in sand and fines blocking/ clogging up the perforations or even poor perforating is to blame for the low 30 bopd well test, essentially the oil is not getting into the wellbore, if they are right then acidizing/reperforating could easily result in a commercial rate well test.

It quite obvious to most investors that MB feels there is more value to MATAD to proceed with our 3 already drilled and cased wells (H2, Gazelle & Gobi) rather than drill a new H3 well, cost wise (post raise) we can afford the reworks on all 3 wells or one H3 well, given MB has the insider knowledge on these wells i am happy to go with his estimation of the situation.

To keep it simple he intends to pick the lower hanging fruit this year.

People really need to understand the timing and reasons these wells were not progressed at the time, these reasons have been addressed many times on here yet posters still ask why, posters should also understand that just because a well is suspended it does not mean it is dead in the water.

Oil well suspended meaning as follows:::: An oil well is considered "suspended" when its production or injection operations are temporarily halted with the intention of potentially resuming operations at a later date. Essentially, it's a well that's been safely secured but not permanently abandoned, with the possibility of future production.

H2 was suspended. Costs to acidize, test and complete circa $1.4 million.

Gazelle was suspended. Cost to well test and complete circa $900k.

Gobi Bear 1 was suspended. Cost to well test and complete circa $900k.

Above assumes we get reasonable well test from each well.

I realise “many” on here have little if any understanding of the oilfield yet enjoy giving their opinions of the likely success of our 3 well work, to them i would say: "it is better to remain silent and be thought a fool than to speak and remove all doubt"

Question Is, was Mongolia’s plan always to bring India’s ONGC/OVL in all along, as we can see from my previous links there were serious discussion between ONGC 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.

No, ONGC have never been mentioned, from the links provided it appears they may be in the picture, no smoke without fire and the more interested parties the better.

Lucky, some catchup material on prospective suitors.

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

ONGC, India's state-owned oil and gas company, is exploring potential oil and gas exploration opportunities in Mongolia. This interest stems from discussions between ONGC 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

LuckyR, Lucky you getting in at this price, sure you will do very well if you hang about, some might say otherwise, beware of BASHERs.