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We learned plenty imho..
Master82 isn't getting annoyed for no reason.. it's because he now gets that this Heron into production and outputs sold race probably still has plenty of distance to run.. and then other wells there need drilling too...
..but at least we have WOS to entertain us, so fine by me....
That interview was as useful as a ice cube on a hot tarmac, we learnt nothing. It would be nice to getting oil out this year.... tell us something we don't know. We are as informed today like we were yesterday.
You really are having a meltdown about all this. Not dissimilar to one of Hamm’s episodes. I wouldn’t mind, but you are another one critical of those who haven’t toed the “any day now” line.
It sounds like you’re possibly over exposed here (we’ve all done it) but honestly it is best for your mental health to write this year off. If it comes in before then, great. But I’m not counting my chickens.
Other companies are doing good in Mongolia . We are in this position because of MB turning up and drilling without a permit.
He doesn't have a clue. Or he knew but thought sod it just drill .
MB right to feel frustrated .. because regional/local foot dragging could readily be the order of the day.. and Mongolians are Worldies at foot dragging, in fairness and alas
Still, patience might well be rewarded in the end.
(and Mrs WOS might readily offer that you can't have too many pairs of shoes)
He has successfully drilled 4.5 dusters .
He is useless at PR
He is useless at communicating with shareholders.
All the gear but no idea CEO.
MB and the team should be ashamed of themselves for getting PM in to this mess .
Only one man to blame for all this situation. Do your research, MB bought this upon himself by taking the local governor to court and lost the case. Not many know here.
He should abstain from doing any interviews and RNs.
He is a bearer of bad news.
It's the same parrot fashion interviews since 2019
WE NEED NEW LEADERSHIP WHICH I HAVE BEEN SAYING FOR MORE THAN A YEAR.
IMO - from the video I thought that MB was totally frustrated by it all as well as all of us.
Mongolian bureaucracy at its worst as usual.
It will happen but as fell in to the derampers as usual and it's obvious who they are
Not just pesky local government. There’s also the very important contract to get sorted with Petro China. An ancient MOU is anything but sorted.
I have genuinely written off 2023 here. We’re already halfway through Q3 with plenty it appears still to be done. If we somehow get this sorted in Q4, bonus. But better to have a reset of expectations. It’s really frustrating and I do still wonder if we, and MB/MATD, are all being taken for a ride here. But I have my shares and won’t be selling any. But equally I’ll not be buying anymore.
Ibiza - we have £8.5 to £9.0 million and ha CD e already bought ghe kit to bring Heton in line so no need to a raise . It’s just a question of whether we get Heron on steam this year or in Spring next year . Obviously since it’ll only take 2 weeks dork snd we have approx 12-14 we Ed kid before end of drilling season we still have plenty of time even with these peskie local government formalities
@ManxKippers, yes definite look of worry, frustration and a little peeved at some of the questions. However, I have been here a long time so a couple more months not an issue as paperwork being chased by those above too. The sooner the better. Have a good evening.
Why did he do this interview?
Previous price range
August 12th 2016 = 3.20p. August 11th 2017 = 8.85p. August 10th 2018 = 8.30p. August 9th 2019 = 6.70p. August 14th 2020 = 2.85p. August 9th 2021 = 2.85p. August 11th 2022 = 2.20p August 11th 2023= ? 3.50p? Some progress not. GLA
Well that was almost exactly what not to do! Well done MB.
I see little point in hanging around. Money can be used elsewhere for the next 6 weeks without an worry of missing the boat here!
A hugely soft interview. Why do it? No mention of the IOM or Petro Matad Energy Ltd. Or what exactly he was doing on the IOM with the Mongolian minister etc.
I sensed the look of exhaustion and fear in his eyes. A little shifty and spent. Anyone else sense that???? Trying to keep everything upbeat whilst really not enjoying where he is right now. Not encouraging at all. SP falling tomorrow, I fear!
Talk about nice friendly interviews that must go very close to the top of the pile. No hard questions at all just a bunch of friendly prompts and no mention of the cash position.
I know MB has said no share raise and plenty in bank till next spring but surely that would have been based on projections of Heron flowing September at latest so therefore if that is not likely to happen now till probably earliest 4th quarter this is a question that should have been asked and was not.
WOS - but as MB himself says in this interview, the primary objective here is Heron.
Sound to me like he have the Renewable contract news ready to be announce tbh.
Make own decision but have listen & very confident on ALL front
Change of Tune from up and running by end of second quarter to we hope to be up and running by end of the year. All dependent on the provinces buckling down to do their end of the paperwork.
No agreement with PC or DQE as you cannot have an agreement unless you can provide a start date. No start date no agreement.
This will all come but the question is when. Docs forecast of Sepetember which i thought was way pessimistic a couple of months ago is now starting to look way optimistic.
Yes SP will drop back tomorrow I reckon.
WOS: "MOU already signed with Petro China for oil sales agreement which is followed up with MRPAM help"
MB says:
"We also need the oil sales agreement sorting with Petro China. We have an MOU signed with them a long time ago for general cooperation and oil sale, so we're following up on that and MRPAM are helping us to get that sorted because I don't want to make the well ready for production and then not be able to produce it because there's no where for the oil to go."
An MOU is not a contract or agreement. So this could be another sticking point.
Either way, the fact remains this is far from sorted and I'd argue this year is now in danger of being lost to more bureaucracy and paperwork.
Tried to quote these as close as possible to interview:
"Local management agreement needs to be signed...
Local herders need to be compensated...
Provincial and district government now have to act on central government order...
July holidays didn't help...
Local agency have sent out all documents...
speed of this dependant upon provincial and district governments and will determine timeframes for Heron 1...
MRPAM want us on stream this year, we clearly want that, too.
We need oil sales agreement with PetroChina sorting out, they had MOU signed a long time ago for general cooperation."
Then moved on to Velociraptor, disappointed with that. And comments on Sunsteppe/renewables. Happy how JV is going so far.
"Heron 1 is "big target", really want to get that on stream. We'll try to give updates when suitable to give."
Hmm, I think I might need to adjust my September timeframe!
I did bother watching interview 💰💰
- Ministry of Mining & MRPAM want PM on stream before end of year & "will facilitate that"
- All documentation gone out & being pushed by Land Agency
- MOU already signed with Petro China for oil sales agreement which is followed up with MRPAM help
- All Heron Workover equipment in country already & contractors have confirmed availability
- "Very short piece of work to put Heron 1 into production"
- 200M bbls oil in place with attractive fiscal terms for contractor.
- Multi year / multi well program with main drilling contractor submitted to MRPAM to line up when Heron 1 on stream.
- Velociraptor-1 "fantastic reservoirs but no oil shows". Analyzing cuttings from V1 but probably will not proceed with V2.
- New license round application on 2 blocks with high grades proven & producing on China side of border.
- Of 2 new block applications 1 already selected to negotiate terms & have done that. 2nd block negotiating terms. All timeframes by Govt being met & will look at awards this year.
- Very pleased with SunSteppe Renewable progress with Mongol Govt looking to be net exporter of energy. Energy Ministry pushing hard on projects.
- "Exciting times with opportunities coming our way (for Renewables)". "We got our timing right on this one".
- NEWSFLOW to expect "apart from all other exciting developments the big target is to get Heron1 on stream for 2023".
Very positive, equipment & contractors ready for Phase1 of Heron development & confident of Heron 1 on stream in 2023.
Reason SP went up today & more to follow 😏
So why did the SP rise today - maybe in expectation of the "no change update" or the "up-coming cash raise"?
Very strange ineed.
“So where did I call you pathetic ("or whatver")?
I couldn’t recall if it was pathetic, hence saying or whatever. But it was “pitiful” as well as criticising my post for not being “scientific”, which it was never intended to be!
You’re an odd, odd person, Ojay. Full of hypocrisy and double standards.
I didn't watch it all - too predictable. Did he mention the up-coming cash raise?
Stating the obvious, but this SP will plummet tomorrow based on MB's NO CHANGE UPDATE!