RE: Dinger25 Aug 2021 17:22
Simon: Just in case - the following was D1nger's post of last Monday @11.30 (recommended 9 times) as a response to "nlondon's" post of last Saturday:
“Matd don't have billions of barrels in the ground”…….They do, they just haven’t proven it yet.
Petro China have an estimated 2 billion barrels in their 38% share of the Toson Uul Basin. Matd has 62% of the Toson Uul Basin within which lies the Heron field.
Heron has 194 million barrels and Matd now are confident that a 30% recovery is achievable giving a recovery estimate of 60million barrels.
They also state that near field leads have an estimated recovery of between 100m and 200m barrels which at a 30% recovery would make the oil in place between 330m and 660m barrels.
Then there is gazelle and the rest of block XX to account for.
Then we head to block V with Velociraptor 400 million barrels, Fox with a recoverable estimate of 200million barrels, Phoenix with 230 million barrels and Phoenix West with an additional 130 million barrels.
We are debt free, we have $10 million in the bank, we have an exploitation licence and a sh*t load of oil. The only reason we have an mcap of £26m is because next year hasn’t happened yet.
Have a good week Yaks. Take care and best wishes.
Glad to oblige.