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Header say ALL and this is where SP usually sit and BEFORE Newsflow for 2024 Operational Drilling Progress updates start.
One thing confirm for me yesterday is how much effort & brilliant strategy we have for Petro Matad to develop into Major Energy player in region with Oil & rapid growth / high margin / Easily funded Renewable arm.
Here is AGM audio link - listen yourself!
https://petromatadgroup.com/wp-content/uploads/2024/04/Petro-Matad-Limited-AGM-30.04.2024-09.00-BST.mp3
Mr Buck explain about Land access points, Funding secure & other logistic / development points.
Just some quick reference if helpful -
Renewable Funding - arnd 27 min & 48 min - Large Debt funding component more easily available (we see that in 90% debt funding for other BESS project) & maybe any remaining at SunSteppe Corporate level and not Petro Matad equity level.
- Mongolian Company (arnd 48 mins) - yes PM registered abroad but recognize as Mongolian Company with PSCs held in MONGOLIAN ENTITIES!
Also recent "positive interactions" with environmentalists - this is probably part of "addressing disinformation" for final Agreement signature we expect for Plan A & why they focus totally on Petro China only.
Dividends (2nd mention and 36 mins) - some people on BB laugh at this because PM do not produce yet (this is where OPPPRTUNITY is obviously) BUT Mr Buck understand this will be where Company go with production conditions of course.
Election (arnd 33 mins) - Petro Matad deal with Mongolian Agencies in 'A political' way and do not see issue with other political parties even though present Govt have big majority.
Petrovis - they help & involve on daily basis.
Funding - Cash secure into 2025 & also have unused Petrovis drawdown facility in place extra to this
This just CONFIRM my opinion of excellent investment prospect of Petro Matad & clever ones will see Price Growth opportunity BEFORE company transition to PRODUCER and massive growth / well funded sector of RENEWABLES.
Like some other intelligent investiors like Mr Thorngossin & others think this prove wisdom of ACCUMULATION STRATEGY and in face of whatever disinformation/ games some usual suspects play here.
I do my last (last) too up today & do not waste my time posting more because my holding timeframe is to see this thru to MAJOR growth coming.
No time for games many people have tried here & now glad to see have been exposed
Header say all and Mr Manx Kipper price projection in post 18:44 look accurate.
Good luck genuine holders - Petro Matad will be a Massive success story for investors going forward.
Wise Owl 🦉
Mr Thornagoson
I answer this Question first because Mr Buck very clear on it - Central Govt Sate Special Purpose order override ANY issue including Overlap. Only thing it cannot overide is other SSP order.
This means Central Govt can order local governor and local governor can give NO objection.
Also mean no future Govt can interfere with SSP order which Petro Matad have for Block XX.
We are just at start of 2024 drilling season and this is what I expect is back up for Plan A local approval signature & why all statements preparing for drilling season with contractors.
I expect this will be used after election if Plan A is not in place (which expect will be if you listen to comment on recent talks with environmentalists).
Central Govt, MMHI, MRPAM, Land Agency all support Drilling 2024 AND most important can OVERIDE local governor whatever his reasons is!
🦉
The governer is appointed by the pm..
the recording link has been posted here by master
Didn't catch the AGM/Q+As today and not yet on the website.
Was it suggested that the Central Government don't have the right of veto should the Governor get re-elected?
Also was there anything to suggest that he might be able to scupper the local deal if he wanted?
Many thanks
The way I see this governor is that he is possibly looking for a brown bag deal.
I cannot see any other reason for him to refuse. Environment is just an excuse. PC is stone throw away and they are drilling every year .
Time MB send the heavyweights in to sort the governor out or MB takes him out on a trip to Singapore.
All countries all work in similar manners . You scratch my back I'll scratch your..
I also asked about DQE but it was admittedly very near the end. But haven’t these “negotiations” been going on for years now? I mean, what’s so complicated about them?!
Hi LondonSuede, I also asked the question about DQE near the end of the AGM, hard to tell if Mike saw it or chose not to answer it. I can only assume that he did not want to talk about current negotiations that they are having with them prior to signing any contract with them.
Hopefully this slowly recovers back to 4p before approval to start production, can see 8p plus even 10p should be easy enough myself as once wells pumping money out we should be a solid stock
đź‘Ť
lets hope you are right and I am wrong .
There are many who have been let down time after time.
I sincerely hope this time is very near.
We've never been so close Roxy. If the activists are now happy hopefully the district will sign 🤞
Call me a pessimistic sod but I have to go with my instinc. Lets see
Yes, Cyberton.
I think 12 tp 15p is possible on solid production confirmation.
Up to 30 to 35p per share on multiple well news and revenue income confirmation.
60p after a year after the permit is granted assuming well roll out is spreading fast.
That is my gut on this. We will see.
If all the permits are granted and we are still in drilling season Yes I think 6-8 p is achievable
I get the feeling though something new and not in our vision might pop up.
Its happened so many times.
You guys still think we can achieve 8-10p on final approval for the go ahead for production?
Agreed Aeschylus.
Signed LP or SPC and you can forget 4.5p
@ benjamincp ; actually the really strong resistance level is at 4.5p - it's rejected at that level several times since mid December.
So funded untill next year and more cost savings are being made, plus as I once said petrovis are also there to loan out money,
Land Use agreement still ongoing progressing, not told where this is exactly could be price sensitive so may why left out
All looks good to me,
WOS - Thanks. That's interesting about the governor. Hopefully we may be rid of him soon.
And hopefully in time PM will be able to sue him and other members of the Provincial authority for using their mistake with the overlapping land as an absurd excuse in order to withhold their signature on the Special Purpose tripartite agreement when the other two parties had already signed it.
The share buy back resolution is a run of the mill one... most if not all companies have it.. regardless of whether it will ever have excess cash to repurchase. The companies in the oil sector that repurchase their stocks are the multi-billion $ behemoths that are sitting on $billions of cash... and don't have much idea what to do with it.
Great questions. unfortunately he did not answer my question re DQE deal process.
What are the implications of resolution #6, the company to repurchase shares from the open market. Positive to SP?
Back to 4p I guess and bounce back down to here like it has been doing
Carlos no one, wise owl included cares about you muting him or anyone else. The plain facts I am trying to point out is it is everyone's right and a privilege to express their opinions.
Now that might not be to your taste and I accept that so I think its best you decide what is best foryourself.
MB answered my questions
1. Why has legal channels not taken to resolve the situation once cabinet approved the block 20 exploitation.
2. What is the real reason for the delay. It cannot take 5 years to resolve a land access issue. Is it personal due to PM taking the governor to court back in 2019.
3. Why has 10m spent in wages when this could have benefitted the locals.
4. Should the wage bill be so high when no activities have taken place in the past 4 years. Are the staff getting paid for sitting at home.
5. What has happened to mining ministers 3 months guide line. Are they taking PM for a ride.
Of course he has 'every right' to post whatever nonsense he likes,... just as I have every right to mute him :)