Hungary & Gazprom agree gas supplies via Turkish Stream pipeline www.rt.com

Russian energy major Gazprom has signed an agreement with Hungary to deliver gas via the Turkish Stream pipeline, the MTI news agency reported, citing Hungary’s Foreign Minister Peter Szijjarto.

Drilling Rig Contract Signed, Drilling Targets identified www.petromatadgroup.com

Petro Matad, the AIM quoted Mongolian oil explorer announces that further to the press release on 31 May 2017, a comprehensive drilling contract has now been signed with SINOPEC INTERNATIONAL PETROLEUM SERVICE MONGOLIA CO. LTD ("Sinopec") and that the initial drilling targets have been selected.

2017 exploration drilling programme

The first exploration well will be located on the Irves (Snow Leopard) prospect in the Taats Basin of Block V and will spud in September 2017. The well will be drilled to a total depth of 3150 m and have an expected duration of 50 days. The Irves prospect comprises a series of tilted fault blocks, with multiple stacked reservoir targets, and has an estimated potential of 160 million barrels of oil-in-place (mean-case) and an upside of 350 million barrels of oil-in-place.

Irves-1 is an important 'basin and play opening' well. It will be the first deep exploration well drilled in Central Mongolia to test the hydrocarbon potential of the highly prolific Early Cretaceous 'syn-rift' play already proven in neighbouring Chinese and eastern Mongolian basins. Success at Irves-1 would open the Taats Basin for further exploration and potentially access over 1.8 billion barrels oil-in-place (mid-case estimate).

Once the Irves-1 well has been completed, the rig will mobilise to the second well location, which is the Takhi (Wild Horse) prospect within the Baatsagaan Basin of Block IV. Takhi-1 will be a shallower exploration well, with a total depth of 1850m and an expected duration of approximately 20 days. The Takhi prospect comprises a large faulted anticline with several stacked reservoir objectives. The well is designed to target 280 million barrels of oil-in-place (mean-case), and has an upside case exceeding 650 million barrels of oil-in-place. Success at Takhi-1 would likewise, open the Baatsagaan Basin for further exploration and potentially access over 1.2 billion barrels oil-in-place (mid-case estimate).

For both the Irves and Takhi prospects there is significant stratigraphic upside potential, which is not included in the prospect volumes stated above. More details on the drilling targets will be provided nearer the commencement of drilling operations.

The Taats and Baatsagaan basins are just 2 basins out of a total of 12 basins that the Company has identified within Blocks IV and V. Petro Matad has so far mapped over 65 structural prospects and leads across these basins and based on these alone the 12 basins have the potential to contain over 20 billion barrels of oil in place. These basins may also offer significant upside potential from stratigraphic traps and unconventional oil plays. All volumes are the Company's internal estimates.

Further announcements will be made on progress leading up to the spud of the first well.

Ridvan Karpuz, the CEO of Petro Matad, said:

"I am very pleased to have executed the rig contract which is a significant milestone as we head toward exploratory drilling later in 2017. With the signature of the agreement with Sinopec, the Company is now poised to deliver on its commitment to undertake a high impact exploration drilling programme in 2017."

Korea Tourism Organization opens Mongolia office www.koreatimes.co.kr

The Korea Tourism Organization (KTO) opened an office in Mongolia, Tuesday, as part of its efforts to diversify the country's tourism market beyond neighboring China and Japan.

Russia & China sign $10bn investment fund to ease ruble-yuan settlements www.rt.com

The Russian Direct Investment Fund and the China Development Bank (CDB) have agreed to establish a Russian-Chinese investment fund worth 68 billion yuan ($10 billion).

Mongolia seeks to buy public buses on South Korean loan www.akipress.com

AKIPRESS.COM - Cabinet authorized Finance Minister of Mongolia B.Choijilsuren to conclude a loan agreement with South Korea during its Tuesday session in Ulaanbaatar, state media report.

Mongolia Energy Corp Ltd (0276.HK) Shares Moving On Volume www.claytonnewsreview.com

Mongolia Energy Corp Ltd (0276.HK) shares are moving today on volatility -5.22% or $-0.012 from the open. The HKSE listed company saw a recent bid of $0.218 and 606750 shares have traded hands in the session.

Investors are typically looking for any little advantage when it comes to the equity markets. Investors often have to figure out not only how certain companies are faring, but also how the overall global economic landscape is shaping up. Focusing in on the proper economic data can help detect overall trends in the economy. Investors who are able to hone their analytical skills might be able to put themselves in a much better position to achieve success. Being able to process and organize all of the different types of financial information that is constantly being thrown around may be a great asset to the individual trader and investor. The amount of information floating around in today’s investing climate is enormous. Zooming in on the most pertinent information can help keep things manageable.

Taking a deeper look into the technical levels of Mongolia Energy Corp Ltd (0276.HK), we can see that the Williams Percent Range or 14 day Williams %R currently sits at -106.67. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.

Mongolia Energy Corp Ltd (0276.HK) currently has a 14-day Commodity Channel Index (CCI) of -121.70. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, Mongolia Energy Corp Ltd’s 14-day RSI is currently at 38.07, the 7-day stands at 33.06, and the 3-day is sitting at 26.90.

Currently, the 14-day ADX for Mongolia Energy Corp Ltd (0276.HK) is sitting at 18.80. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

Former Glencore traders to launch concentrates trading platform www.mining.com

A team of former traders from Glencore (LON:GLEN) will launch Wednesday an online platform to connect miners with customers such as smelters and sign deals without the need of brokers.

Foreign minister Ts. Munkh-Orgil receives ambassador of Canada Ed Jager www.montsame.mn

Ulaanbaatar /MONTSAME/ On July 4, Ts.Munkh-Orgil, Minister for Foreign Affairs of Mongolia received Ed Jager, Ambassador of Canada to Mongolia upon finishing his tenure in Mongolia.

Tourist arrivals increase by 20 percent www.news.mn

Tourism is becoming increasingly important for the Mongolian economy. In the first four months of 2017, tourist arrivals increased by 20 percent compared to the same period last year. According to the Ulaanbaatar Tourism Department, tourism revenue amounted to USD 312 million in 2016. Mongolia is expecting to receive 470-480 thousand tourists this year; most of them will arrive during the traditional Naadam festival this July.

GCF supports Mongolian energy sector www.news.mn

The Green Climate Fund is helping Mongolian enterprises kick start a national, low-carbon energy sector with its completion of a USD 20 million funds transfer to a Mongolian bank.