Member Info for gadgie

Great position to be in with Expected New's flow incoming :

Farm Out

H2 / Gobi

Sunsteppe 200 Mw

2025 ....13th March ...... Needs to be soon

Public Companies: If the farm-in/farm-out involves a publicly traded company, an AGM (or an Extraordinary General Meeting) is generally required if the transaction is significant enough to require shareholder approval.

It's warming up for sure PC sign MOU with Matad and Mongolian Gov 2 week's later payment in full all outstanding balances .... Next

1) Farm Out

2) Booking rig's for Year

3) Getting Surplus Equipment from PC

4) H2 FIx

5) Gobi Bear

6) Gazelle 2

7) Start drilling all new well's

It's going to be a busy year ......Oh and no debt !

Agreed but block XX does figure MB pointed to this slide in Dec Presentation

Is this what can be expected re farm out

Under a farm out what size investment is required to develop Block 20 and broadly what are the fiscal terms

See our website, Corporate Presentation November 2017 slide 19 for summary Block XX fiscal terms.

Main Terms of PSCs

• Duration: Exploration term 8+2+2 years in Blocks IV and V. 5+2+2+5 years in Block XX.

Exploitation period 20 + 5 + 5 years

• Royalty: Blocks IV and V 8%. Block XX 5%

• Corporate tax: 0%

• Cost recovery mechanism: Exploration, development and operations costs recoverable

against oil production with annual cap of 40% of total gross revenue. The remainder is carried

over. Transportation costs are recoverable

• Contractor Profit oil split: Blocks IV/V 50% to 57%. Block XX 45% to 60%

https://www.investormeetcompany.com/meetings/operational-update-4/questions

Still waiting this year's notice for AGM

Last years AGM Heron will require about 30 producing well's

https://www.investormeetcompany.com/meetings/agm-13

We should also see revised Oil In Place estimates for Gazelle ....Still to come H2 and indeed Gobi

They have to drill baby drill hence farm out …. Refinery needs filling

No disclaimer attached to today's RN's to me means we have a firm offer on the Table let's see ?

Farm-out

Discussions with one potential farm-in partner for Block XX are nearing completion and we are pushing to complete negotiations in short order. In parallel we are continuing discussions with other potentially interested farm-in partners for Block XX and for Block VII.

Get's better and better .....Zero Debt situation is unreal for a Aim Listed Co

Block VII

8

JC1 Well

JC1 Well

Oil Shows in Permian

Regional Gravity Map Show Basin Outlines (blue/green colour)

Block VII Location Map

Seismic Line and Cross Section in Judong Sag - JC1 Well Location

1. Includes both work programme funds and PSC fees

Borzon Block VII signed January 2025

• 41,141 km2 area located in southern Mongolia adjacent

to hydrocarbon bearing Yin’ e basin in China

• Fiscal terms are very attractive compared to most other

international jurisdictions

• 8-year exploration period with two, 2-year extensions.

Initial 2-year period work commitment $980k1

• Exploration Licence issued 31 October 2025

Hydrocarbon Potential

• Gravity data clearly shows extension of proven

hydrocarbon sub-basins in the Yin’e Basin into Block VII

• JC1 well in Judong Sag had oil shows in Permian aged

rocks plus Permian and Lwr Cretaceous source rocks

• Gravity data modelling ongoing to establish basin

architecture and thickness of sediment fill

• Seeking a partner

Block XX Radial/Jet Drilling

• Capital programme options being developed in parallel

with farm out discussions

• Production enhancement opportunities being finalised

Heron Field

• Continue production from Heron-1. De-wax the well for

pump efficiency and flow assurance

• Complete Heron-2 retest and review options. Working up

a potential radial drilling programme option for the well

• Finalise drilling locations for potential 2026 drilling

• Finalise scope of possible 3D seismic acquisition

Gazelle Field

• Continue production from Gazelle-1. Monitor

water/optimise oil rate. Perform crude assay

• Review economics of option to connect to power grid

• Finalise drilling locations for potential 2026 drilling

Gobi Bear-1

• Perform well flow test to determine if oil pay is present

• Complete for production if test successful

Block VII

• Re-process existing 2D seismic data

• Gravity modelling, geochemistry on well samples

Zero Debt is Massive

Block VII ....PC just paid money owed in full and we just signed MOU they know what we have in Block VII

Https://mmhi.gov.mn/2026/01/16/%d0%b0%d2%af%d1%8d%d0%b1-%d0%b8%d0%b9%d0%bd-%d1%81%d0%b0%d0%b9%d0%b4-%d0%b3-%d0%b4%d0%b0%d0%bc%d0%b4%d0%b8%d0%bd%d0%bd%d1%8f%d0%bc-%d1%85%d1%8f%d1%82%d0%b0%d0%b4%d1%8b%d0%bd-%d2%af%d0%bd%d0%b4%d1%8d/

Possibly x2 farm outs ....MOU just signed with Petro China last 2 week's but i think block xx has gone to another party let's see

➢ 24MW solar/wind for Oyu Tolgoi (OT) Green Hydrogen - targeting online 2026 $50,000 - £100,000 P MW ( $2,400,000 top end )

➢ 50MW Choir Battery Storage - 2026 ( ($5,000,000 top end )

➢ 200MW hybrid plant to replace coal. Commercially competitive PPA in place - 2027 ( (£20,000,000 top end )

➢ 1500MW export to China with major Chinese utility - 2029 ($150,000,000 top end )

➢ Several more opportunities under review

➢ SunSteppe CEO advising government

Excellent New's today ....remember we have a beast to fill next year including oil pipeline and storage tanks !!!

Https://mrpam.gov.mn/news/6015

Proquo your input is really appreciated thank you please keep up the excellent work … I try not to post too many idiots on this board green box full lol … Our day is near !