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I agree, some significant positives. Some frustration regards delays on materials crossing the border
from China. A mixed bag.
Questions were asked here last Friday and over the weekend about the company, these questions have been addressed, which is good to see.
We are beginning to get an idea of why DQE are taking so long ‘Matad has supplied a multi-year target work programme’.
Share price now down 6% ….
I'm no expert here but seems to me to be the usual knee-jerk market reaction to what is actually a positive and explanatory RNS.
They aren't really telling us anything new, we all know there are Covid-related problems in China, lockdowns and such causing manufacturing and supply chain chaos in all kinds of ways, not least of all oil production in Mongolia.
Only time will eventually resolve all of the issues PM are encountering in their quest, ultimately we will all need to be a little more patient for our reward.
FA please find one single post where I personally started a thread with or even suggested "licence revoked".
I expressly stated that such posts were incorrect and said that it appeared the issue was the removal of approval of the environmental impact assessment by the local Soum.
Nice try but I was correct. You werent.
Now stop your ad hominem attacks.
I note you post about 40 posts a day according to your posting history. Thats 5-6 posts an hour! Who are you?
Curioser - MRPAM suggest land access is not a concern:
‘ We are advised by industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), that this will allow work on all Production Sharing Contracts (PSCs) areas to progress without land access delays whilst the planned amendments to the land law that will remove the current legal ambiguities pass through parliament.’
I just had another close read of the RNS. The central government directive relates to land USAGE and not land ACCESS. Two different things surely?
Id love to post things like "yeah multi bagger here. Good luck to all genuine holders" too, but Im going to stick with asking thorny questions, to see if we can get some clarity.
As bit of a medium term gamble it's time to top up.
Hopefully the price will drop again in time for another top up.
Basically happy with that RNS.
Covid is a pain beyond the control of the company.
Plenty going on though .
I thought FA had done with this BB. Sadly not! Perhaps the rampers will now pull in their horns & stop the name calling?
Can't believe that we are still negotiating. Just don't know what to say here anymore..
Atleast the emails worked and we managed to get to the bottom of the land issue.
It'll balance back out soon enough, just a few people jumping out to look for a quicker return elsewhere, which is fine too
Positive RNS imo simply covid causing an issue
MMs taking advantage of weak holders and people who don’t comprehend the RNS correctly.
GLA genuine LTHs hold for or oil !
The GM. The devil is in the detail I guess. Allow work to progress... is that the same as progress to completion? Or just make progress with contracts etc? I dont know... but at least we are having a grown up discussion trying to pick out the next steps. Thanks
curiousandcuriouser: It reads to me like the directive issued means they do not need to wait for the law to change,
...The Cabinet of the Mongolian Government issued a resolution directing the certification of exploration and exploitation licences by the central Land Agency such that local approvals on land use are not required. We are advised by industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), that this will allow work on all Production Sharing Contracts (PSCs) areas to progress without land access delays
To me that reads like the biggest obstacle to getting Heron-1 online has been removed, there is the obvious problems with covid outwith of PMs control but that will get resolved in a month or two (I bet). PM will need that time to get the surface production equipment in location anyway.
AIMHO/DYOR
FA Let me be clear. There is no cabal. Please stop using dramatic inflammatory language spiced with Machiavellian conspiracy theories. It makes you look unprofessional. Silly even and undermines your integrity.
Rampers can buy as many shares as they wish!
Another opportunity for them!
2p or 3 that is the question.
Enjoy
Well another wasted year
Nothing to do but be patient I guess, nothing has changed in regards to the find and profit to be made, just fackin covid doing a number on us all yet again, all the best folk
My 2 cents,
Not withstanding the delay of getting the rig to site, this is actually quite a positive update. The land issues have been resolved at a government level to avoid local activists getting involved and providing a level of surety for futire ops. So we can now get after things without local issues which is a massive outcome. Not withstanding we still want to be good corporate citizens and help the locals achieve employment and improve their lives.
The issues with China are frustratimg but as others have said the zero covid policy won't work so it will be diluted at some point soon.
Interesting that velocoraptor is in play for a drill this year. Thats significant.
So i guess we hurray up and wait! Hopefully won't delay things for many more weeks. Things lining up nicley.
Cheers
So several delays totally outside the control of the Company.
1. Covid is still problematic. The Chinese government's zero covid policy and substandard Sinopharm vaccination (with refusal to use imported vaccines) has meant that the Chinese have poor covid immunity.
2. The slow pace of progress of the planned amendments to the land law to remove the current legal ambiguities passing through parliament.
The first will eventually right itself. The second....who knows (if and) when.
Rampers (FA) should be embarrassed by accusations and all the lies they said.
See if the top ramper FA comes again with risk/ rewards probabilities!
No local permit.
No contractors confirmation.
No other contractors on board.
MATD best shot is changing the law!
Another 3 years!
Manro has been absolutely right.
Enjoy the free fall guys!
curiousandcuriouser: I have to give myself a pat on the back for this one, I read the situation bang-on and told everyone on the board :-
- PetroMatad having problems with local protestors/permit office/council
- PM Lobbying to central government to change the law to redress problems with current legislation.
Regarding the availability (or lack thereof) of land rigs, I hope that MB is looking at alternatives, in particular the situation in Russia and Ukraine should make land rigs available from those two areas... It sounds like Heron-1 for workover activities is not affected by the Chinese covid lockdowns, which is reassurring.
Been away from here for a few weeks but wondered if FA is still ramping this this share. How many folk has he sucked in to buy?
Back to 3p on that RNS
So it seems the social media (FB) posts , particularly around removal of approval of the environmental impact assessment by the local Soum were correct. Not the misguided foolhardy conspiracy theories “dreamed up by a number of posters with a malicious agenda” after all! Looking forward to reading the apologies for some of the vicious and personalised attacks from a few condescending posters on here!
China will open up doors when it's a little Warner then I guess as covid goes away, they can't afford to keep the doors **** too long maybe another few weeks
"Lies lies and more lies"
That's the problem with your post Horses.
Just becuase you are dissapointed with the message does not mean it contains any untruths