Member Info for VerbierDave

Its Thursday today lol Friday is still in play.

Of course Potter was upbeat, he just got voted in for another year on the gravy train and $350k a year not $100k a year. I'd be walking out laughing my head off if I was him.

Okay just in case you aren't aware of the meaning of the word ESTIMATE here is the definition from the Oxford English Dictionary.
estimate
verb | ˈɛstɪmeɪt | [with object]
roughly calculate or judge the value, number, quantity, or extent of

I'm expecting an RNS roughly around the 70 day mark as indicated by MB at the end of TD but + or - a week and thats because I have a reality check on drilling in an oil field not some pie in the sky theory on everything that should arrive on time by the precision on a Swiss watch.

If that isn't good enough for you Wild then you are just an awkward (I'll hold my tongue) that needs to grow up or Flook off.

WildOne - I have entertained your moaning for a while now but to be honest you're starting to bore me with your negative outlook. MATD have contracted the drilling to a very competent drilling contractor with world class history of drilling and they have given an ESTIMATE of 70 days. MB is not down there on the rig turning the drill bit with his own hands FFS.

Yeah kind of wondering if it will be myself too because if theres no news today or tomorrow then we won't get news until at least day 70/71 depending on how you personally count it. So it's kind of last chance saloon if people are planning on getting in before the results.

Bid has just ticked up to 8.70 maybe an afternoon flourish.....

They already have a local company in Mongolia with a testing rig available and on standby should it be needed, I remember this being mentioned in one of the interviews MB did.

I think you will find rig up will probably be much quicker the second time round as the transport crew and rig crew will be more efficient the more they work together.

Mike - Just because I like to be different and after the working day has finished in Mongolia, what a gap that would cause the next morning on opening lol

Well we spoke about this last week Mr D and I said after hours tomorrow so lets see, I may be wrong but we can't be far away.

Btw, my thinking on this was that it took 60 days to drill and logging of two targets out of five but tbh I'm probably a mile out as I haven't got a clue along with the rest of us. Good luck all though as it's getting closer.

To say nothing at all.....

Come on kids play nicely or if you can't be civil it's best to to say anything at all.

Spanish,

Well there is that but as I don't know where the failings were and if any of the MATD team were to blame I simply can't say, all we can do is go with what we have been told and understand the difficulties. You understand them having worked in the environment but not all do.

Oh and btw I don't want to sound like I'm bashing the Chinese drilling operators because I've also seen a lot worse than them i.e. a rig just sat there for six month on the pad because a drilling operator wouldn't pay for parts for it to be certified and wanting the license owner to pay for them even though no payments were to be made until the rig was certified. These are the kind of things you come up against in developing countries. Its not always plain sailing.

Spanish - Would you not agree with me that working with Chinese contractors can be problematic and that they can let you down when you think everything is good?

I work with some of the Chinese drilling contractors that have been talked about in these threads in the oil and gas sector in established oil fields and I can tell you that it's not simple. Maybe in your sector it is easier.......

Wild,

We are working in Mongolia, these things happen and they have not been cancelled as this would mean there is no intention of drilling them at all, they have been postponed i.e. delayed until 2019 when a suitable drilling contractor can be sought. Until we get an RNS saying they have been cancelled altogether then that is where we stand. Of course it would have been ideal if they could have been drilled this year and all four wells would have hit oil to the maximum amount imaginable but thats not the case as we are working in a difficult country and nothing is perfect. If this isn't good enough for you then as I said earlier maybe you should be investing in something that will give you a little less stress.

I wish you would stop harping on about it but you do....... what's done is done, what we have to look at now is the results from SL and spud of WH as they are the immediate future and then look to see what happens after that, there could be a complete change in the plan of the company after them. Stop crying over spilt milk as it's not going to bring make them all of a sudden drill them in 2018.

Wild - I would actually say he is operating quite successfully at the moment, okay we have had two wells postponed until next year but do you think you could do a better job in that environment? We all know the last two CEO's couldn't but the drill bit IS turning for the first time in years.

I'm guessing as you are still here and haven't run and fast that you believe they can execute??

But then that would leave you nothing to froth at the mouth about Captain and reduce your 75 posts in the last 30 days down to about 3, what would you do with all that extra time lol

WildOne,

What we always have to remember is that Mongolia is a developing country so the bureaucracy and time to get anything done is always going to be challenging add that to the fact we are working with Chinese contractors (DQ) who will always say yes they can do it to win a contract even if they can't and then try and blag it or cut corners (more than likely being the case MATD didn't drill in 2017) then you are always swimming against the tide.

I know this can be frustrating when things move or are slipped to the next year but it is what it is and theres not a lot the BOD can do about it, believe me after working in countries like this for many years you can have all the paper work and everything else in place and a spanner will still get thrown in the works to mess things up.

If you want less stress then invest in Apple or Amazon but I think we are all here for the potential huge growth that MATD has but along with that come a few extra grey hairs.