Member Info for Coldjoe

I sure hope so..... if WH won't come in we still have block XX and Fox next year, fuck me if none of those will come in.....

Hm also from MATD webpage: From 1993 to 2013, a total of 31,130 km of 2D seismic, 5,920 km² of 3D seismic, gravity survey covering 390,880 km2 area, 17,920 km of magnetic survey were conducted and more than 1,200 wells have been drilled. Investments totaling over USD1.5 billion were made in petroleum exploration in Mongolia by contractors during this time.

Since petroleum production (re)started in 1998, a total of 35.5 million barrels of oil have been produced by the end of 2015, of which 33.5 million barrels have been exported to China for refining as there is no in-country refinery.

Interesting they only did 33.5 million of barrels from 1200 drills that does not sound very positive

Bit old dated from 2015 but good article https://www.geoexpro.com/articles/2015/01/mongolia-potential-in-an-emerging-economy

I enjoy your diagrams as well Ronin thank you mate but I just wanted to metion that Snow Leopard did take a lot more time than anticipated and didn’t even reach TD, considering this and the fast that we are still using the same rig means that we still might be far from the main target?

well to be fair all we need is oil shows and hydrocarbons (JOG did 400% just on that) and most of us will be gone before finding out whether is it commercial or not so I would go with the geological COS but still difficult to believe that after all these millions invested, analysis, research, planning, permitting and so on we end up with 20%.... crazy

Guys anyone here knows how relevant the COS actualy are ? I find it strange that after all the geology, 2D, 3D, planning and even amplitude anomaly, we end up with 20% COS. Also why some of the appraisal drills have say 60% if they actually know that the oil is there (other companies than MATD too) ? Thanks

*BG...

I guess we will have to wait and see if they can still make the drill in 2018 it does look unlikely to be fair. What I don't understand are the CoS though. I always thought that SL was 20% and WH 30% but looking at the Edison note it's more like 10% but surely no sain person would invest to that probability and it would be difficult to raise cash from institution or get the farm in with BH in the first place with these chances ?

So since we should have results shortly from our first well what do you guys think the sp would be if we are lucky and hit the black gold at least 100mil for starters i think that’s quite sensible without ramping

Guys, Fox and Snow Leopard are both in block V does the fact that Fox had live oil shows and is considered one of the most promising one give Snow leopard positive indicators?

I think debating over little wording in RNS is quite funny it’s the same BS like code 1.... however one would assume they think they have something since they are drilling for a long time and would otherwise abandon the well in order to save time and money. Let’s hope for a hit! otherwise block XX delay is quite embarrassing since they were sorting it out since February but that’s just AIM and O&G sector you just never know....

Haha no offence mate but can’t you rather be called gusherman ?

Guys has anyone been here long enough to remember the previous drill the company has done ? There was oil but not enough pressure so they decided to drill these closer to the kitchen if Iam not mistaken?

Jusr read this on Reuters from March 2018 is it true ? By the end of this year, Petro Matad's exploration spending will have totalled $100 million since it began operating in Mongolia in 2006, including cash spent on seismic surveys and previous drilling. I

well patience and a bit of luck.... fingers crossed

I mean we can have this discussion forever everyone has different strategy and SL might indeed be a duster, on the other hand I do believe that SL which is one of the more expensive and deeper drills has been chosen to be the first for more than just a logistical reason. This is not the first drilling for Mike...

I think all we need for sp to shoot up is oil shows in the drill, one would think that we will find some since there are five different zones that SL has....

Hmm that's very encouraging that they have already found oil in the same area as Snow Leopard from the stratigraphic cores

from 2017: The well will be drilled to a total depth of 3150 m and have an expected duration of 50 days. The Irves prospect (Snow Leopard) comprises a series of tilted fault blocks, with multiple stacked reservoir targets (5 in total I think), and has an estimated potential of 160 million barrels of oil-in-place (mean-case) and an upside of 350 million barrels of oil-in-place.

Irves-1 is an important 'basin and play opening' well. It will be the first deep exploration well drilled in Central Mongolia to test the hydrocarbon potential of the highly prolific Early Cretaceous 'syn-rift' play already proven in neighbouring Chinese and eastern Mongolian basins. Success at Irves-1 would open the Taats Basin for further exploration and potentially access over 1.8 billion barrels oil-in-place (mid-case estimate). Sounds good to me fingers crossed that we hit some oil.....

Would be nice... really thought they would release something before the presentation tomorrow