Member Info for ftsemajorgeneral

MATAD are intent on creating as much revenue as possible from the already drilled wells, certainly seems that way, dispels many posters thoughts about MB, seems he has his sensible head on now.

Ok RNS, could have been worse, get rich quick crowd not happy but agree solid RNS

Abzzba, i will go with the RNS tomorrow but telling us JV being discussed, seems the likely option, strange its an 8.00 am AGM and scheduled for only an hour, but this could be MATAD are unable to enhance at this time during negotiations.

Abz, me to.

Abzzba, would certainly explain why the AGM is sheduled for just the one hour and at 8.00 am, i found this strange.

MrsWOS, you set up your account 7 days ago and have 66 very negative posts on MATAD, can we assume you have an agenda ?.

Doubt it would do Mongolia much good investment wise if they started grabbing land back from companies such as MATAD, Rio Tinto etc etc

I also wondered why only one hour has been allocated for the AGM, might be wishful thinking but it would not take long to say a buy out offer for Heron has been made and we cannot discuss further details at this time.

Just ignore the two simple minded idiots (stockmaiden and MrsWOS) they are seeking attention, by answering them you give them the attention they need, fact is their lives are probably so boring and devoid of friendship this is how they get enjoyment, sad people.

Wigster, 200 million would value us around 14p, other assets, block VII, Gobi etc you may as well guess how long is a piece of string.

We could drill three block VII wells and find nothing but the 4th could be huge, or we could drill 4 wells and strike a gusher on each.

Gobi also not to be discounted, 34m reservir quality sandstone reported, can be many reasons oil did not flow freely at Gobi. certainly worth another look.

The big question is, just how much would Petro China pay for Heron field, they know the geology, they know how much oil their half of the Tamsag basin has produced in the last 20 years and how much its likely to produce in the coming years so what is a fair price for Heron?.

150 million

200 million

300 million

400 million.

We know they paid SOCO 93 million way back in 2005 though there were strings attached, but back in 2005 oil was 47$ a barrel, drilling technology was not so advanced, Mongolia did not have the same "need" for the oil, China did not have the same need for oil.

My guess would be around 200 million for a direct buyout of Heron.

If an RNS arrives in the next few days saying JV/outright buy out is being discussed we could be 5p by next Friday. Big week ahead.

Checkout Mongolian long range weather forecast, looks like we might get back to work last week of this month.

Corpse, you did read what abz said earlier about Petro China wells coming to end of life with the earlier drilled wells reaching 20 years of production so coming to end of life, i ask as you appear to have made no allowance in your calculations, just an observation on my part.

The bit you did get right is no oilfield lasts forever, hence new exploration to find new fields such as Gobi, Block Vii etc etc.

ManxKippers, i have no doubt the Chinese are playing hardball, they usually do but they need Heron and our oil and Mongolia needs our oil, more importantly they need to settle this quickly if they are to get 30,000 bopd flowing to the refinery, as someone earlier said, we have the joker/trump card, we have Heron oil, time on our side and probably Mongolia pushing for an early resolution.

ManxKippers, a very fair analogy, we do have the trump card or the joker in the pack, otherwise known as HERON.

Another day closer to the expected RNS, expecting two before the AGM.

ManxKippers, tend to agree no raise, believe we have enough in bank for at H1 and H2 reworks, once H1 flowing at 500 bopd sp re-rate will follow, add on whatever H2 bring to the table.

After that we will find out about JV, funding etc.

Straight sell of Heron to Petro China.

$100 million = 7.14p per share.

$150 million = 10.7p per share.

$200 million = 14.28p per share.

Heron has 60 million barrels of recoverable oil, more if newer drilling techniques are used.

60 million barrels = 4.2 billion dollars.

And in a few short weeks after H1 remedials we can multiply H1 production by a factor of 2 or 3, factor of 4 might be asking too much but you never know.

Plus H2 and/or Gobi. Future looks good.