Member Info for Wigster77

"however do all seven deep processes (listed below) need to be completed before the refinery can process oil or are some of these 7 additional processes"

I thought the same when I read the article and I've no idea either. Hopefully the "yes we are ready to take your oil" bit will be done a lot quicker than 2028.

Ftsemajorgeneral:

He might have seen this link where it mentions 36-38 months (article dated 6th Feb 2025):

https://montsame.mn/en/read/361495

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On February 6, 2025, state-owned enterprise “Mongol Refinery” LLC signed an engineering, procurement, and construction contract with India’s "Megha Engineering and Infrastructure Limited" (MEIL), which was selected as the general contractor for the EPC-04 package, construction of the final licensed technological facilities of the oil refinery project.

The oil refinery will have a total of 12 technological facilities, seven of which are deep processing licensed technological facilities. The construction of these seven facilities will be carried out by MEIL under the contract.

MEIL, a company with 34 years of experience in implementing major petrochemical and infrastructure projects not only in India but also internationally, will complete the construction of the seven facilities within 36-38 months as stipulated in the contract.

So no proof then, TBT? Thought not.

"How much longer can doc keep the “I hold shares” lie up? He’s been caught red handed."

I must have missed this. When did somebody provide irrefutable proof that Doc83 doesn't hold any shares? (and billyrvalentine: you have it the wrong way around - the burden of proof is on the accuser...)

Over-optimistic fictitious information on this board? Wash your mouth out Manx.

I33: Doc also was peddling the notion of a consolidation to really scare the pants off people.....That may have been what triggered that poor guy to sell a huge holding at around 1.25p, thereby probably losing about £50k.

This is the ONE time that Doc mentioned consolidation: "At say 1p per share raise, that's another 640,000,000 shares that could be issued. And presumably they'd do a 10 for 1 consolidation at that point."

Why do you think a consolidation would "really scare the pants off people"?

Certainly if that one comment has triggered someone to sell and lose £50K then they clearly had too much money in the market for the investment knowledge they have.

Gazelle 1 was an unexpected curve-ball for me (potentially positive) and I don't recall seeing it mentioned on here recently.

Just refreshing myself, this was suspended in October 2019:

Petro, when conducting drilling and logging at operations at the Gazelle-1 well, found no economically recoverable hydrocarbons at the Lower Tsagaantsav target.

The company explained: "The Lower Tsagaantsav reservoir objective was encountered at 2,280 metres, 20 metres deeper than the pre-drill prognosis. The interval penetrated was shale dominated and no hydrocarbon pay was identified on the logs."

In the Upper Tsagaantsav reservoir, Petro said "good wet gas shows" were recorded.

Petro added: "Three metres of net oil pay in good quality sandstone have been defined on the logs."

Casing is now being run at Gazelle-1, which will be suspending as Petro conducts further evaluation.

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Gazelle-1 was targeting 13mmbbls but was also testing the potential for material stratigraphic traps in the southern extension of the Tamsag Basin. The Upper Tsagaantsav reservoir results support this theory and will be the focus of the post well evaluation.

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Hopefully they'll be able to get this one flowing too. 13 millions barrels, although not huge would be a welcome addition to the production portfolio.

GLA & ATB.

1. MB confirmed there would be no JV in 2025?

Someone asked if a JV would be completed in time to fund drilling wells in the 2025 drilling season .

A: That would be great but I doubt that's the most likely outcome, but if they're keen I wouldn't stand in their way.

Proquo: "Ticking up nicely. Lovely."

Eh? We opened at 1.50/1.70 and we're now at 1.50/1.60p

Thanks abzzba. I'm still trying to digest it all, but H1/2 do sound promising and Gobi could still be a massive positive wildcard.

...and obviously the JV could be an even bigger one.

ATB.

Thanks Mike, sorry I meant WOS. I sincerely hope you re correct!

Abzzba - after today's AGM do you still see us hitting 5p by June and 12p by end of 2025 or have you modified your expectations (up or down). Genuine question.

Same to WOS - do you still see 20p+ by Summer?

That made me laugh. Genuinely laugh 😹 why the hell did Mike even answer it 🤣

Fair play to him, he never seems to swerve questions.

Question: MB are you WOS?

Hahahahahahahahahahahahahahaha!!!!!!!!!!!!!!!!!

Jeez, we've got £3.78 in the bank and people talking about dividends!!

2028 for the refinery.

Haha TenBag has asked about dividends!!!!!!

No more wells drilled this year. Concentrating on cost reductions and JVs etc.

Sorry Doc - no raise, and no share consolidation either...LOL.

Thank you for confirming that.

"Can you imagine the post AGM 'interview' with a beaming Mr Buck telling us all how pleased he is that it's all worked out for the company's 'patient and long suffering investors'."

Most of us would probably die of shock.