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Use does not imply access and egress. Assume it if you want though...
I am invested but understand the issues. I am assuming the Company does too, even if some on this board dont.
curiouser - Lets ask the Board to attach copies of all legal documents mentioned in an RNS to each RNS, including the full Exploitation Licence, Production Sharing Contracts (PSCs) etc etc.
Use implies ingress & egress :- otherwise we'll all open up solicitors office in Mongolia to check on them. Some times you have to trust your Board or sell up.
A simple discussion of when no access to priperty
https://www.co-oplegalservices.co.uk/media-centre/articles-jan-apr-2017/access-rights-when-buying-property/
No USE does NOT include access and egress! Thats the whole point.
Even in english law although i can apply for and be granted use (or change of use e.g. from residential to business use), but if someone owns the access to my property then clearly and absolutely that issue is NOT resolved by a USE decision.
Basic land law this. See easements/rights of way
Latest RNS extract "..... 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 whilst the planned amendments to the land law that will remove the current legal ambiguities pass through parliament. "
Surely " USE " encompasses Access & Egress . Unless you want every RNS to go on and on and on and on taking days to read!!
Yes I did read it Ostraliamate thab you. Did you? What about the following...
....Local officials remain reticent to discuss applications due to lobbying on social media by a vocal minority protesting against industrial activity.... This included at a recent local meeting when allegations were made about the Company's Environmental Impact statement...
Not an issue Ostraliamate?
Attempts to resolve outstanding issues:
Petro Matad has sought input from central government .... the strategy has resulted in "progress" (??) on the long-running land issue. In late April, 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
Ie 1. EXPLORATION and 2. USE licences do not require local approval but 3. ACCESS permits do and now 4. clarification is needed on the legal position of the environmental impact statement following the matad soum meeting where "allegations were made"... which the RNS unhelpfully did not clarify what thr allegations were
So let me make it simple. More than 1 licence/permit is needed!! e.g
1. Use.
2. Exploitation
3. Storage.
4. Access: plus
5. Approvals of environmental impact statements and
6. No doubt other red tape to he satisfied!
Or do you think they will produce oil soon?
Good luck
Did you read the recent RNS. The government has bypassed this with legislation. Will not be an issue, stop trying to make it one.
The gold mine... Im just making an observation that there is intelligent organised opposition to our company who are targeting local herds people, mainly with a narrative that we are not to he trusted...
The same activists held court at the soum recently.
Some on this board are wish to silence any discussion and reasonable SWOT analysis... its as if discussing and weighing up strengths weaknesses opportunities and threats is considered disloyal or something! I see our strengths and opportunity but not blind to our threats and pointed out that the meerung this Friday is an excellent response to such threats
curiousandcuriouser: there is people opposed to oil and gas development everywhere there are oil and gas projects. I would not get sucked into worrying about it excessively.
We see it ourselves in the UK (Extinction Rebellion, Greens/SNP administration in Scotland, etc etc)... Fortunately when the financial imperitive becomes overwhelming the decision makers with budget responsibility (i.e. Central government) always tend to come down on the pragmatic side, e.g. that oil and gas is absolutely essential to our current way of life during the transition period, and high prices benefit no-one.
Think of the Shell Cambo field,... 12 months ago treated like the ugly sister at the dance, now a different story that energy prices have spiked and the government is practically begging O&G companies to up production.
I cannot see why Mongolia would be any different, the government have too much invested in their O&G industry for progress not to be made (refinery being built, pipeline contract awarded etc etc)
AIMHO/DYOR
.... the dumb raging impotent social media keyboard warriors that PM can blithely ignore are us lot on this boaed tbh :/
As its a quiet news day, just to say the activist is on Tv today. She is on mongolian TV8 at 20.30 (13.30 our time if anyone can watch it!). I think her main beef today is Petrochina.
Mongolia 8 is privately owned by Bayarmunkh Sengee, who is a member of the Mongolian People's Party and works at the Council of the Party. He is former Director at the Diplomatic services department of the Ministry of Foreign Affairs... so has political friends and influences.
This is why I think it is so positive that there is to be a multi stakeholder meeting on Mining and Community confidence -building data meeting tomorrow. The aim is to look at open transparent information sharing on social and environmental impacts if heavy industries.
Anyone who thinks these activists are some dumb raging impotent social media keyboard warriors that PM can blithely ignore them need to think again.
The Chinese government has a unique approach to Covid which is no vaccinations but strict lockdowns in cities and provinces, people are confined to there dwellings and there food is home delivered, you will be arrested if you leave your home.
The Chinese government wants to eliminate Covid and has no intention of allowing Covid to get completely out of control so there will be little to no assistance from the Government in relaxing Covid restrictions that are deem to be in the nations interest.
In China a lockdown is usually for 5 weeks or in a major cities like Shanghai it can be longer so in the short term this will not help MATAD and hopefully our oil will stay safe in the ground and hopefully also our money in the bank, we just have to sit tight.
Each person must make there own decision to either buy, hold or sell and perhaps when considering there financial position just spare a brief thought about the suffering in Ukraine before we restart our pathetic whinging and attention seeking between some ill informed people.
Lockdowns in China, especially in Shanghai, have gone on much longer than expected. This is hurting the economy and disrupting supply chains. The government has pledged to come to the rescue
https://think.ing.com/articles/chinas-longer-than-expected-lockdown-needs-government-intervention/
Guys, no one is holding you here.
If you don't like the story or the CEO sell up and move on. None of you understand the pressure thay the board would be under and the frustration they would colelctiviely feel. They are all invested in the project, not many CEOs put their own skin in the game, MB did.
People are quick to forget but we have made a significant oil discovery of multiple millions of barrels of oil and this is extremely valuable and transformative to the company.
No one likes delays,but to be totally fair to Mike , 90% of the issues that have slowed progress are out of his hands. A global pandemic and a neighbour who very undervaxinated and try desperately to avoid Omicron getting into the community.
These have been massive issues for the whole world and have slowed everything down.
We are only in May. There is still a large drill window and there is plenty of time to get Heron onto production. Until the border opens there is no point, as there is no where to process the oil and storage is expensive and frankly pointless without the processing capacity.
If we can mobilise a drill team and have a crack at Velocoraptor and can get Heron 1 onto production, 2 things I firmly believe we CAN achieve. Then to me this would be a very successful year.
Sitting here bagging a company you are "apparently" invested in seems counterintuitive.
Keep positive, in the end the result will be fantastic for all genuine long term holders.
//My point is exactly what is the company going to deliver in 2022.//
diddly squat?
This is a question Mike Buck needs to answer. He has previously said that he reads the bulletin board. Perhaps he could now provide an answer to this important and reasonable question. Via an RNS would be fine.
Ojay.
My point is exactly what is the company going to deliver in 2022.
Thx Bowley - I just don't understand what your point is.
Ojay.
Far from venting I am trying to remain balanced based upon all the facts and information available.
I presently feel our collective performance over the last few months has been a little under par. Change and Covid I am happy to take into account and recognise Covid especially is a factor Matad do not control.
However 2022 must demonstrate progress or else we will be drawing down on the raise and not showing any meaningful progress.
He doesn't fit or have the brains to be a successful trader. He just became addicted to the PM and sees his salvation in it. I sincerely wish and hope such addiction would not turn into the losses of his investments. But while such an absolutely insignificant and rogue CEO is at the helm, the result of his activities can be a negative only. The facts themselves convincingly show that he achieved practically nothing significant in all his work from the first to the present day. And the success at Heron is not at all his merit, but the result of an accidental and happy neighborhood with Petro China
Too much blah blah blah on this board, not enough reasoned debate about MATD.
Rampers
Derampers
Embittered crybabies
We have them all. A few genuine investors as well
Hmmm to me balanced analysis is objective and impartial; weighing up ALL the facts, be it good OR bad, without any personal interest and just letting the evidence speak without adding emotional content
As opposed to you, Hamm and other complices his only motive is Fair Analysis. I know you hate that but that's the way it is.
Love it or leave it.
Fair analyst is my Father , I trust I’m with my life