Member Info for Mullins58

Alba MC 2.1 million

M C 7.9 million

Own 28.01 percent

3.36 / 15m

This is massive for Alba

Nice

Good news out

I run my own business, sometimes expected payments are delayed for one reason or another . If the payment is from a good source its the same has having money in the bank, its just not your bank account. I'm expecting the funds to arrive shortly. ATB

One , hope you are well. Unfortunately you are wasting your time. I have used the filter. Hopefully we will get news shortly. ATB

Please use the filter, don't give them a platform, take away their voice. ATB

It's called manipulation.

Just added a few more. ATB

Up we go.

Spend the day in the garden .

I just added some more . ATB

· Pumping at Heron 1 is now in operation to lift oil to surface with the well delivering c. 160 barrels of oil per day (bopd) with very low water cut below 6 %.

· Evaluating the merits of converting Heron 2 into an injection well to provide reservoir pressure support to Heron 1 to enhance productivity and recovery.

· Tenders for connection of Heron 1 to the local electricity grid to offset diesel usage are under evaluation.

· Gazelle 1 well test planning is ongoing with potential to put the well on production immediately if the test is successful.

· Gobi Bear 1 geochemistry study has confirmed the presence of migrated oil in the reservoir section.

· Block VII Environmental Baseline Study completed, 2025 budget approved and technical evaluation ongoing and attractive exploration targets identified.

· Discussions with potential partners on Block XX are ongoing.

The invoices for Block XX Heron 1 production from October 2024 to end April 2025 have been processed by PetroChina and are ready for payment. Prior to making payment, PetroChina has asked Petro Matad to get confirmation from the authorities that there will be no customs, VAT or tax charges levied resulting from the Oil Sales Agreement.

That engagement is underway and if the response is slow in coming, Petro Matad and PetroChina are discussing payment of the majority of the amount due with a percentage withheld pending confirmation.

·

Just added 100k. ATB

Mike Buck, CEO of Petro Matad, said:

"We are pleased to have agreed the amounts payable for Heron-1 production. We are working hard with PetroChina and the Mongolian authorities to get the first payment made and we look forward to a smooth monthly payment process thereafter. Meanwhile, our production operations continue and, as anticipated, after a period on natural flow, Heron 1 is now behaving more like the offset wells in the basin and artificial lift is now in operation. Although the pumped rate is lower than the rate on natural flow, we are pleased that the well is continuing to deliver and is doing so at a very low water cut.

We continue preparations for some low-cost well work for 2025 to support and potentially enhance production and Block VII appears to have some exciting potential. Our efforts to bring in partners are continuing in parallel."

Operational Update

LONDON, 30 May 2025: Petro Matad Limited, the AIM quoted Mongolian oil company is pleased to provide the following operational update.

Key Company Updates

· The invoices for Block XX Heron 1 production from October 2024 to end April 2025 have been processed by PetroChina and are ready for payment. Prior to making payment, PetroChina has asked Petro Matad to get confirmation from the authorities that there will be no customs, VAT or tax charges levied resulting from the Oil Sales Agreement. That engagement is underway and if the response is slow in coming, Petro Matad and PetroChina are discussing payment of the majority of the amount due with a percentage withheld pending confirmation.

· Pumping at Heron 1 is now in operation to lift oil to surface with the well delivering c. 160 barrels of oil per day (bopd) with very low water cut below 6 %.

· Evaluating the merits of converting Heron 2 into an injection well to provide reservoir pressure support to Heron 1 to enhance productivity and recovery.

· Tenders for connection of Heron 1 to the local electricity grid to offset diesel usage are under evaluation.

· Gazelle 1 well test planning is ongoing with potential to put the well on production immediately if the test is successful.

· Gobi Bear 1 geochemistry study has confirmed the presence of migrated oil in the reservoir section.

· Block VII Environmental Baseline Study completed, 2025 budget approved and technical evaluation ongoing and attractive exploration targets identified.

· Discussions with potential partners on Block XX are ongoing.