Member Info for ManxKippers

No one knows, Stockmaiden. They are evaluating this all.

Whatever they do use will be for commercial gain with the cost versus the increase in production equation being applied, one would reasonably hope.

Regardless, they seem low cost fixes that would only be commissioned if the commercial rates of extraction are severely uplifted from 228 bpd current pumping rates.

It is all logical and reasonable.

Well done WOS. Thanks for this info.

I think we will see bpd rates and revenue increasing at some time in May.

I don't quite agree with Stockmaiden's view that the current rate of extraction will decrease from the average 228 bpd down to 200 bpd after the stimulation work has been done, simply because of MB's past history with MATD's slow progress. This seems a bit illogical and unnecessarily negative. Each to their own.

A new dawn and a new day IMO. Rockets, lots of 🚀 soon I hope!

Regarding ramping up H1..... further thoughts.

IF the sand sediment had ceased to present itself at 200 bpd as they stated it had, and this level of extraction was deemed safe to get good quality out of the well during the winter hiatus, then again this suggests a lot of work is needed to evaluate the best extraction rare and any added measures to be adopted.

I don't think you can just turn the tap open and increase the flow rate. I would imagine a stepped approach of 200 bpd going to 300 bpd. Hold, inspect, evaluate. Urgently turn it down if sand becomes present again or turn it up after 3 or 4 days to 400 bpd to repeat the evaluation.

If the gas had subsided and the oil pimped from H1 had seemingly cleaned up as reported in the AGM, you would be cautiously optimistic but very careful about upping the flow rate and making sure you are not agitating sand back into the oil. There will certainly be an industry standard for acceptability of any particulates present in the crude.

I am sure they will give us some news this month with an increased extraction rate achieved by whatever method and how they have achieved this at the lowest cost. But the daily rate of extraction would logically be increased significantly and I would hope for it to go to 500 to 600 bpd without too much difficulty.

We will see.....

No problem ADW.

I think that if the sandscreen is a cheap option but they are considering one or two other options for stimulating and pumping greater volumes from H1, it would be reasonable to assume the other options are even cheaper and easier.

I am in the wine business. With old bottles of wine, they need decanting off the sediment. Often you get a slight whisp of sediment in a tank of wine too, but once the wine flows and that first whisp has been flushed through, the wine runs clean.

I wonder if the first oil had sand in it, but after continual flow rates it has cleaned any loose sand away from around the extraction entry point of the oil reserve underground, and it is now clean and sorted as the flow rate has settled.

I can't imagine that the oil will have sand evenly suspended throughout the liquid crude reserve. But I am a layman and not an expert.

We will see....

Thank you ADW for mentioning me in your post. For clarity, and as previously stated, we do not know the fix but it was inferred in the question and answer section circa 36.40 minutes in at the AGM IN MARCH (by the way!) That the gas issues had subsided and the well had cleaned up. What that means exactly is down to interpretation and could include the sand sediment settling down as I believed it meant, and I concede it may not.

Earlier in the AGM it was mentioned about evaluations being necessary to establishthe best way of increasing the flow rate from H1. One of the options included the possibility of a sand screen. MB had previously stated this was a cheap fix.

I am of the belief therefore, but without definite knowledge, that perhaps the sediment issue has naturally diminished as other fix options are being looked at.

We will see. But I believe I have presented my thoughts, that do change and develop over time, fairly and without seeking to be the font of all knowledge with any clairvoyant powers to be stated quite as knowledgeabley or misguidingingly as suggested.

I believe many others will have taken the pieces that are given by matd, that do and have changed over time with developments, and reasonably come up with the possibility that the sediment has cleaned up and we may not need a sand screen at all.

Best to you all. Have a good weekend. The weather is stunning here in southern Ireland.

Stockmaiden. No one can say of this is an immediate fix or a gradual ramping up. That must surely depend on the assessment made as to the need for the sand screen or not and whether the sand sediment has cleared or whether sand sediment is a continual and ongoing problem.

As they stated, the sand issue seems to have resolved itself but with a higher flow rate it may come back.

Regardless of by stages or by a fix with kit, I believe and hope the flow rate will gently increase to circa 600 bpd in May.

We will find out in 30 days time or sooner.

Nothing ramped or over blown with that. It is only my opinion. No statement of fact. Just a reasonable expectation on the info we have been fed so far.

Yes ADW - I did summarise with my hoped.for statement of “May sand screen for H1 and production uplift.“

Perhaps I should have rephrased that as “May possible sand screen for H1 and production uplift.“

The point isn't the sand screen - it is H1 increasing productivity with adjustments that may include a sand screen to reach my expectations for H1 reaching 600 or so bpd.

Err....no Stockmaiden.

No one in their right minds suggests production at 300 to 200 bpd! We are expecting significantly more than that from H1. I would hope for 600 to 800 bpd - but we will see!

I can see a combined production between H1 and a second well - yet to be decided, for which they already have the well equipment purchased and on hand for installation, of over 1,000 bpd. That is my hoped for target and expectation. But we will see!

Try your sums on that and see where your numbers come out.

This conversation is bizarre and really stupid IMO.

It is like saying that dressing for rain because of a weather forecast that turned out sunny and dry and was totally wrong proves you are an idiot and a guaranteed!

Surely everyone can understand that what was initially reported from the first oil extracted that had sand in it, resulting in the flow rate being reduced to below the 250 bpd at which point the sand ceased to be present, hence it was safely set at 200 bpd extraction over the winter hiatus, that this would result in careful evaluations for how to increase the quantities pumped. The head of production suggested that the problem seemed to have gone away which suggested that it may have totally gone away or perhaps not. It is only right and prudent to ensure that whatever is needed for safe and clean oil extraction is put in place.

As MB stated, we know that of they do opt for the sand screen, that may or may not now be necessary due to the well settling down into a producing routine, that this option is a cheap and easy fix if now necessary.

What more needs to be said.

The sand seemed to have settled down and sorted itself out.

They were evaluating what was necessary for the well. They needed to evaluate "what intervention strategies..." they should implement.

I have stated that one can deduce the kind of challenges they may or may not face with flow rate increases that may or may not disturb and agitate the sand again that obviously may or may not mean the cheap fix of the sand screen would or would not need to be fitted.

It can't be spelt out any more than that by MATD can it ADW??

Sand screen or no sand screen? That is the question.

Further to the RNS mentions, this was discussed at the AGM in the presentation given by the head of production.

He stated that the sand had calmed down and settled. What he also suggested was that a Sand Screen may not be needed and they would need to do trials. If the flow rate was ramped up from 200 bpd to 600 bpd then this may agitate the sand again with the faster flow rate. So they may or may not need to fit the sand screen - and if they do need it, it is a cheap and easy piece of kit to install.

Whilst not said, one can reasonably deduce that the increase in flow rate needs to be gently increased over time to see if sand will present itself at 300 bpd or 400 bpd or 500 bpd or indeed at all.

We will see...! But I don't feel there has been any misleading comments from MATD on this point.

Thanks, WOS.

The value to MATD is ownging the licences for the blocks.

We need the second block awarding to increase the company value and I would hate for the decision to be reneged on because China wants to muscle in on this all now and has worked out the true value of the natural resources and potential there.

MATD has made the running - hopefully we will get the licence for the second block and hence have a greater value.

We will see soon(ish!?!) I hope!

The other obvious question, WOS, is whether the second block next to VII will be awarded to MATD or if this is now being delayed due to pending new interest from PC???

It would be great to have the second block awarded and within our company possession with everything solidly safe for the company.

Let us hope so!!!

Totally agree Roxy.

Hi WOS. Re your comments about posting about China playing this game.or that game - the piece that I don’t quite understand is quite why the sales agreement that was heralded as having been uploaded on the morning of the AGM by MB is still not signed.

I also fail to understand why the export licence is required as I.would have thought that an internal sale within Mongolia to PC, whose tanks the crude is sitting in, would be totally legitimate and then PC could export their purchased crude using their export licence.

Further more, MB uttered the words "if" we can sell ...., suggesting that the sale of the crude was not a certainty with PC and they were even looking at other alternatives for routes of sale.

All of this does suggest brinkmanship by PC and they would seem to be leveraging the lack of a sales agreement within their bigger plans for commercial gains.

I believe around deal will be done. But as stated before, I can only conclude that due to the coupling of the lack of signing the sales contract and the suggestion by MB of looking for other routes of sale, the final deal will be a hard deal that is being well negotiate by PC or representatives of China.

As stated before, I sense there is a strong arming with brinkmanship coupled with a hard deal being hammered out. Most likely with PC.

No RNS today. Is this a Mayday for MATD or will the RNS now come on a May Day?? The signed sales agreement and resulting export licence is now coming up to being

three months late from the already late February. MB was eager to state the agreement was uploaded for signing on the very morning of the AGM. Was this a rushed and panicked statement to save face?

What is happening MB...??

Precious little share activity again. No one really selling at all.

Crude price looking more solid.

MB to drop the RNS and we should be off to the races....

WOS - I haven't blinked for weeks and my eyes are drying out!

Please can you ask MB to get on with it?

Thank you.

Before we all get to Cancer (June 21st to July 22nd!) lets hope that the general health of MATD has vastly improved and has picked up for rude health and lots of fabulous results showing!

Let us also hope that the general bickering and sometimes infantile and pedantic squabbling will also have found its own cure!

Rockets to the ready - everyone!!

I'm feeling deep in my bowels Proquo!

A major eruption is due any minute now leading to a major event....!

It'll come when it is ready!!