Member Info for abzzba

Buried under a mountain of FUD.

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

Almost laughable the level of knowledge on here,

Doc, i am just trying to ensure readers get a realistic view of where we are, events and news that really matter rather than the hugely negative view the BASHERs give.

I already gave you my estimates on how much cash we need to test and complete the wells @ 09:27.

reposted below.

H2, Gazelle and Gobi are already drilled, each of these wells have already undergone early stage completion which is running the casing, that includes associated rig costs, cementing costs, casing integrity tests etc etc, so to well test and complete Gazelle and Gobi around 900k each, H2 due to acidizing will cost a little more.

Should you wish to disagree thats fine, just give your reasons.

Ftse, i tend to agree but i thought i would give him the chance to prove each well will cost us a further 2.5 million

There you are, still waiting for your expert breakdown of costs, when can we expect it, your public awaits

GUFFAW !!

Wigster, more than happy to reply to the organ grinder, not the monkey, STILL waiting Adw estimates.

Adw, we are still waiting for your itemized well by well breakdown of costs to bring H2, Gazelle & Gobi into production.

Keep in mind all three are already cased so casing plus associated rig running costs, cementing, casing integrity tests etc etc have already been paid and accounted for.

Keep in mind H2 will also be acidized and that Gobi is not as deep, it makes a difference when estimating costs, sure your aware.

PS: ref H2, I would add in re-perforating to H2 costs as I am sure MATAD will do this.

Mike Buck, CEO of Petro Matad, said: in RNS dated 10th July. (Certainly sounds like he intends to complete these wells)

"This capital raise will allow us to execute several exciting and potentially cash generative workstreams that have the possibility of adding to our production revenue in the short term. In the event of success in the well testing programme, Heron-2, Gazelle-1 and Gobi Bear 1 can all be brought on stream through our existing production facilities and the planned operations will utilise the same small work-over rig sequentially in a cost effective manner

Adw deceiving again by saying the wells will cost 4 million each, H2, Gazelle and Gobi are already drilled, each of these wells have already undergone early stage completion which is running the casing, that includes associated rig costs, cementing costs, casing integrity tests etc etc, so to well test and complete Gazelle and Gobi around 900k each, H2 due to acidizing will cost a little more.

Adw, i (and rest of board) would be most grateful if you could detail and itemize the costs for getting H2, Gazelle and Gobi into production given they are already drilled and cased, can you do so on a well by well basis please as H2 will undergo acidizing which Gazelle and Gobi do not require, i look forward to your breakdown of costs.

KR, again i would have to disagree, we were advised at end 2024 we had 3 million in the bank, "if" Petro China had paid us for our oil in March we would have had adequate funding to rework at least 1 but probably 2 wells, each of these already drilled and cased wells are low cost operations, combined revenue from 3 producing wells would then have paid for the third of these wells to be reworked later this year, however by delaying payment for our oil Petro China ensured the 3 million we had in December 2024 was severly depleted leaving us short on working capital.

There is no doubt that Petro Chinas actions has forced the latest raise on us.

Thornogson, agreed.

Adw & Chums, apologies but need to spend time with the grown ups as well, you would do well to view the below.

Excellent youtube on migrated oil which essentially explains our Gobi well.

https://www.youtube.com/watch?v=pwZi3W64Ot4

KR, no not sure i agree, if we had been paid in January, February even March we would have had the cash for at least 1 well workover, are you an oilfield guy or another Adw chum/clone ?.

Probably due to suspending rather than well testing at the time i would have thought, seems kinda obvious doesnt it, and now we have analyzed the cuttings we are ready to well test, Question, are you a halfwit.

Adw, your choice, but you only make yourself sound more foolish, enjoy.

Are wells always tested and put in production right after drilling, answer is NO.

https://www.eia.gov/todayinenergy/detail.php?id=41253

GOBI, Exactly, now the geochem results are completed we can now pin point the depth where the oil has migrated, i would have thought an expert like you would have known that.

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.

All that oil is still there, just not where it was formed,

What we have been doing to prove up GOBI Bear 1.

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.

I am astonished an oil expert such as yourself did not know this already,

Spot on, they suspended Gazelle and got on with H1 which completed well test the following week, now several years later we will well test, is that a problem, i do not think so, surely you cannot be that dim.

SM the only certain duster lies between your ears.