Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The oil recovered is very light, with an API gravity of 46 degrees making it one of the lightest oils recorded in the basin.
Do we know what type of crude they have? Is it a light or heavy. I spent time on the Madagascar oil site where the heavy crude added to extraction cost along with export issues.
Great post WOS, keep them coming, type of info which genuine investors appreciate.
Header say all & BUY or not - can see lots beginning to understanf now - more will follow as Operational/ Development RNSs start to get release one after the other.
I know most do not follow Mongolia Economic, Political or Legal developments. PDAC 2024 has been going on in Canada with personal attending by Mining Minister J Ganbaatar.
He meet with Canadian Development Minister and will be $100 billion development program in Asia Pacific/Indo Pacific regions with specifuc focuses on Mongolia. Also World Bank discussion on Renewable investments in region.
Think many who follow development will put all prices together where Petro Matad fit in & with CEO interviews on foreign JV money coming in / Renewable capex investment & energy export / IOM Meeting with Govt representatives.
This is background for Investor focus which will also bring in Funds / Institutions.
Block XX first and header say all with big INVESTOR INTEREST / PRICE MOVE to match this. We just see this beginning to start now.
🦉
You sound worried Avo.
Up 30% last week and 10% today.
Sell and relax or buy/hold and wait to see what happens?
Moaning won't achieve much.
Just let the board do its job. We know they are doing a decent enough.
Dealings in foreign lands can sometimes be difficult with people who are not accustomed to western standards.
Its easy for us to criticize when we don't fully know what the board is going through.
Just give it a few more days. We have waited for so long. Another week or two wont make a great difference.
GLA
Few days a week maybe , chill
The snag there is you say Once signed .This one is not signed yet after 5 years so how long is it going to sign them ???????
Disappointing guys. Still starting with a 3 after all day ramping uhh sharing info
I think that's exactly what they will do....
MB should concentrate on the 21000 hectares.
You can fit 50 to 70 wells comfortably in that area
That's a 6 bagger from here....a small step to true value 😁
Moving forward
Petro Matad, the Mongolia-focused E&P company, has announced that its
application for land access for 2024 operations has been approved by the
Matad District Committee. This means that a land use agreement can be
prepared, which, once signed, will allow operations to proceed, including
the completion of the Heron-1 discovery well as an oil production well. This
will allow Petro Matad to start generating cash flow that can be used to
grow the business and add shareholder value. Although this is a step
forward, the company still faces a delay to the State Special Purpose
Certification process.
▪ Land access has been an issue. Petro Matad’s proposed development of
its Heron oil discovery, in Block XX, has been stymied by the issue of land
access to its proposed development. While awaiting confirmation of its
Exploitation Area’s designation as State Special Purpose Land,
management has been in negotiations with the local authorities. At a
meeting of the Matad Citizens’ Representatives Committee at the end of
February, Petro Matad’s application for land use in 2024 was approved,
meaning an agreement can now be prepared and signed by the District
authorities and the company. This will allow Petro Matad to start moving
ahead with the development of the Heron Oil field once the winter hiatus
is over and oil service contractors remobilise their crews. The company is
in discussions with PetroChina over transport, processing, storage, export
and sale of early Heron production. The first course of action will be to
recomplete the Heron-1 discovery well as an oil producer, which will allow
the company to start generating significant cash flow that can be used to
accelerate the ramp-up of production at the field.
▪ State Special Purpose Certification required. Although an agreement has
been reached with the local authorities and Petro Matad is hopeful that
its planned operational activities can commence, in the longer term the
company still requires State Special Purpose Certification of the
Exploitation Area, which entails a number of regulatory steps. The
problem here is that the Governor of Dornod Province is withholding his
signature on the basis that there is an overlap of the Block XX Exploitation
Area with a provincial Protected Area, which he believes breaches the
principle of no overlaps in areas for specific land use. Petro Matad notes
that its PSC (production sharing contract) for Block XX was signed in 2006
while the Protected Area was not declared by the province until 2014,
implying that the province should be seen as in breach of the no overlap
principle. Although this is an issue for some of the licence, the areas where
Petro Matad wants to work in 2024 are not in within this overlapped area,
and management hopes that this dispute will not affect the proposed
works at Heron.
▪ Valuation. Our RENAV (Risked Exploration Net Asset Value) stands
Cyber - thanks for that.
Valuation 23.6p.
Great
Https://www.voxmarkets.co.uk/media/65e5b07b502270de707f7ba7/
Anyone else come across this brief research note ?
Expecting 4.5 to 5p here before RNS lands, week later expect another block buster RNS saying dqe and well programme and production all sorted untill we drill with dates
Share price will now correct itself, once it be ones producer we won't need money and becomes safe for long term big boys to invest in
Matd too good to not buy this right now
Informe, they've all got it in for me, joking aside what is this governor's problem? Is it with MATAD or is it something personal against MB or the lack of brown envelopes, whatever it is seems really petty, GLA
Mster82 ; 2 out of 15 isn't too much of a worry, and anyway, the case the governor has against the two wells on the overlapped land is incredibly flimsy. I am sure that his objection will be cast aside in the course of time. Therefore the Special Purpose Certification isn't massively important anyway - I am sure they will get it though.
We just need the District planning paperwork signed and then we're in business.
Sorry , I meant only 2 wells are affected.
13 are good to go
Folks this is going to go up slowly but IT WILL go up. Those that havent join the ride need to get in and stop moaning ang groaning.
Real money to be made here.
GLA
Only planned wells are affected by the land overlap. The remaining 13 can go ahead.
If you look at the second photo in my x post, it clearly shows the overlapping area in block 20. Heron and remaining wells can be drilled whilst the battle for overlapping land continues.
I can not see why the Governor would block this. PM still has 21829 hectares to continue on. And 15 hectares of the herders land.
Always nice to see a share price starting to move.
A few unfamiliar posters popping up (back) too.
It's BP's alter ego !!