The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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FA - It's not suprising that one of us is getting confused because the CEO deliberately obfuscates when asked a direct question about whether they have all the NECESSARY PERMITS TO COMMENCE DRILLING - note the caps.
He waffles on about conflicts in law being relevant to exploration but not exploitation...blah blah... but that's a complete red herring, intended to throw you off track and divert from the true answer to the question.
Listen from 49m50s. It takes 2.5 minutes but I'll summarise:
Q: Do you have all necessary permits to commence drilling?
A: No
FA - follow the facebook link posted by Master82 at 18.59. That will get you to the activist's profile page. From there one can easily read and translate all the public posts referred to on here by the activist.
"I am sorry but what has been revoked. Our permit or what with all the de rampers on here one starts to get paranoid."
I'm not sure that they ever had a permit to revoke in the first place. In the video presentation that (the ironically named) FairAnalyst posted, at 49m50s, when asked whether they had all necessary licences and permits in place for drilling to commence, the CEO takes 2.5 minutes and several hundred words to effectively say 'No'.
Also from the last Operational Update RNS:
At the local level, provincial and district authorities have been unwilling to discuss local land access applications pending direction from the central government. Petro Matad is working at both central and local levels and recently made a presentation to the local authorities that administer the entirety of the Block XX Exploitation Area. The presentation was well received, which is a positive step forward in securing the permits required. We continue to push at the central, provincial, and district levels to secure the permits required for the next phase of our activities.
Thanks for the fb link. From this lonk people should be able to click on her profile name and access all her public posts
This is what she said last time. https://m.facebook.com/story.php?story_fbid=1728971434161020&id=100011445393483
She posted two letters few days ago. I've just translated it.
That's the one which was given to MATD in 2020.
Remember MATD has been having couple meetings over the few months.
She attended the last one and didn't really say much.
Im not sure Master 82 but im wondering if the. Redolution you have posted was the one up for discussion and therefore is the resolution thst has been revoked?
curiousandcuriouser: thanks for raising this point, much appreciated. I thoroughly enjoy reading any genuine new information relating to any share I am invested in whether bullish or bearish, and this is certainly information I hadn't come across before.
Aimags, regional Soums, Soum governors, herders and locals are critical stakeholders in any process in Mongolia and the Gobi.
The young lady has the right to raise concerns. For many years international companies have destroyed parts of the Gobi with little concern for locals needs especially relating to water useage.
For many many months I have spoken about ESG on this forum. Environmental, social and governance. We appear to have a bump in the road present itself which although inconvenient should not be an issue.
Herders, locals, Soum governors all will be looking for trade offs that support their community. You can only build those relationships on trust over time. Those meetings have to be face to face, and have to be frequent. The problem Mike has made for himself and Matad is he has not done this.
Many are drilling in Mongolia as we speak and have been through the same process. It’s not about corrupt payments it’s about engagement.
I am sure Matad will manage the situation but it’s the fact the situation has occurred that’s concerning. Mike has to step up his game or else he puts all of us at risk.
Good afternoon. Unfortunately I’ve been unwell and have not been able to keep up to date. Could someone please explain the relevance of today’s meeting and indeed is the information related to revoke current or past ie of no relevance thank you so much
It could well just relate to a minor issue bearing in mind Master82's post but as Jimi says PM need to clarify pronto
Sorry i meant search PetroMatad Posts/post dated/2022 (not 2020)
oke
I have no other knowledge except it seems to relate to a decision made around June or July 2020 to which is way before they granted the exploitation licence.
Plumo there is no link as its on facebook and also her name is written in Russian type. The best i can suggest is do a facebook search by tying Petro Matad/posts/date posted/202O. You then will find the girl who seems to be called Adilbish (but wrotten in Russian script) holding up a STOP PETRO MATAD poster then go to her fb page. All her posts are public. Then click on translate
Would you know if this applies to the exploitation license or the exploration license.
link please
Ive just looked and verbatim it says "Erdwnbadrakh team's illegal 2020 resolution relatrd to Petromatad's LLC's 20thbfield of Petromat petroleum was revoked by 100% vote at today's team meeting".
No information as what resolution it refers to or what is meant by "team"
I think PM and Mike Buck should put out an RNS to clarify what this whole situation means, I still haven't had a reply from them, not sure what the resolution is but the protesters seem extremely happy, it appears to be from 2020.
I am sorry but what has been revoked. Our permit or what with all the de rampers on here one starts to get paranoid.
Yeah - you gotto look after the herders during a period of mass urbanisation!
Maybe they will just set out new resolutions in favour of the locals
That's just the resolutions.
RESOLUTION OF THE PRESIDENT OF THE 6TH BAGH CITIZENS 'PUBLIC HURAL OF MATAD SOUM, DORNOD AIMAG 3020 07 06 A 13 r 1 Article 17.1.10 of the Law on Territorial Units and Their Management Based on Article 8.4.8 of the Law, the Citizens' Public Meeting of Erdenebadrakh Bagh shall determine Support the Detailed Environmental Impact Assessment Report 2 To instruct Petro Matad LLC to implement the Advice on Reducing and Preventing Negative Impacts, the Environmental Management Plan and the Environmental Monitoring Program outlined in the Detailed Environmental Impact Assessment Report. 3. Instruct "Petro Matad" LLC to create a favorable living environment for herders and implement environmental protection activities in accordance with the relevant legislation, taking into account the suggestions of the bagh residents. CHAIRMAN B TUYAMAA 03 014 ||| 9. 38% O
Resolution of 2020, the 20th oil field of Petromatad has been revoked at today's meeting in the Matad Soum
Maybe Rns next week.