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I don't want to offend someone but Its seems to me that needed to be a complete idiot to be unable understand that more than 6 years the company is run by a complete liar and swindler. It is hard for me to imagine that anyone else in his place, even having no leadership abilities, but being just a self-respecting person, could create such an ugly situation. He was unable not only start making money but even establish proper contacts with various levels of officials. For to explain and prove what a colossal funds are being lost and not by PM only but everyone who are engaged. And the construction of a refinery has nothing to do with it, since the country's budget is in great needs of these funds. Or even to pay for the supply of petroleum products from Russia. Its a shame when such elementary things are not understood by all of those who are involved and are busy not with the wealth creation but insane losses.
Master.
If I remember correctly the loan for the refinery in terms of capex was $1.2bill.
Not sure where you get the billions from. Again from memory it’s a 30,000bpd refining project which is not huge.
The refinery is not 90% complete. A few admin buildings are done, and some front end deliverables.
It’s not a technically challenging project and yet here we are a year after scheduled completion not knowing when it will be operational.
Of course they are going to finish the refinery. They've spent billions completing 90% of the refinery and the pipeline has started too.
All government projects go above budget.
Plus PC has been operating without refinery for decades, so why can't PM do the same.
Our downside is management not taking action to come to some agreement with the local government. Offer them 1mill on some lical project. I can't see them blocking access to block 20.
The Russian build them a tennis courts and they were made up.
Sometimes you got to legally bribe them to get things moving.
I thought he was busy buying shoes for Mrs WOS.. Did your in country intelligence identify him buying trousers for himself too/instead? The plot thickens!
This is very important perhaps someone can email the company to let them know verify and update urgently. Never completely rule out rumours.
I've been here longer than Mr Positive, Manro and probably about the same time as OJay ( do you still have that private email group?)... same story year after year..POOR, VERY POOR...
WOS
If you’re not too busy buying trousers, prove otherwise.
I trust my in country people.
Bowley: “With the greatest of respect I work for the government of Mongolia. I focus on the role I provide to them.” From lard last year.
Do you still work for the MG?!
And Hamm, he joined May 2022, not 2023. Learn to read FFS.
Master.
I am sorry to say the source is good and that’s exactly what’s happened.
If you are better connected to Mongolia you go and drag the intel out,
This will be on the British Ambassador’s desk Monday.
Then it’s up to the British government to investigate.
Work it out.
Thought the work has already started?
Bowley you talking utter nonsense. It doesn't cost 1bn to do foundations.
You don't have any source otherwise you would be providing updates regularly.
PM doesn't rely on Refinery just like PC.
Joined 2023. Only post on MATD! All negative comments!
What is your agenda?
Who pays you?
Think you just expose yourself as FRAUD Mr Bowley. Anyone who does basic research know this is false news on so many front 😂
We talk later about this lol
LOL
I just had it on very good authority from a government
official the refinery investment from the Indians has been spent by the President and the reason Petro Matad will not progress is, there is no money to build the refinery.
No refinery, GoM will do all they can to hold Petro Matad from progressing.
I will be taking this up with the British government Monday.
It would appear Mike Buck is being properly f—ked by the Mongolian government.
// Special Certifucation importance can punish any obstruction with prison//
Stop talking about prison you twit - NO ONE IS GOING TO PRISON - PERIOD!
Mr WOS needs to move from his - already v good - A game to his - only glimpsingly seen so far - A+ game to keep this doggy talked up over the coming months, I feel.. And I'm v much looking forward to watching him talk his A + talk !
Here's to the talking mans talking man, the one and only Mr WOS, keeping this from going no lower than - lets say - 3.25p in coming months ?!!
C001959 - yes , good point . I thought that too . He’s previously referred to DQE wanting in on the production by them shouldering some of the capital cost of the wells such that they are funding us in return for a production profit share .
Therefore we’d get production scaled up quickly . But of course even if such an agreement is sitting there as something to be signed , it can’t be triggered until we can put in a definite start date , which in turn is only possible by having when the formalities are signed off .
This game is not over by any means.
The registration documentation and the local issues will be resolved and production will begin.
In most third world countries delays on even very minor issues is the norm. We need to be patient and our perseverance will bear fruit.
MB has been a bit slack but we need him to drive this through. Good luck all LTH and just hold tight.
W
08:35 POST
Great post this morning at Mr Thornogasson. If people want plain facts go straight there.
Heron 1 is simple 2 week workover with all weatger rig I believe. Do not worry about Winter if I am correct.
Good point mr c001959 (16:57 post). I mention this about comment re: multi well drill agreement with contractor (DQE i believe) but people more interest in hysteria today 😏
Think with all Central Govt agency fullysupporting Petro Matad and Special Certifucation importance can punish any obstruction with prison then we will get start of operations soon enough.
Choice to hold shares is individual one & cannot control this or immature posting on BB by bad researched posters lol
My hold is unchanged for 18-24 month timeframe & many multiple ROI so today drop just event that does not impact this.
Very soon large buyers will replace little traders anyway I think. Maybe this will be start ;)
Be Happy & enjoy weekend 🌞😊
What percentage of Petro Matad's acreage will be fenced off for oil production and transportation and not be available to grow grass for sheep? And what percentage of Mongolia's total land for grass growing would this represent.
Almost too small to calculate I'd have thought.
A symbolic issue but by no means an actual one?
And 45 million dollars is such a high percentage of exports because they have sod all else to export, which is why.......
They're keen to develop an oil industry of their own?
They want it, They need it, It'll happen.
Just watched MBs interview and the part that stood out to me was when he confirmed that the plans for a multi year multi well development have been submitted to the regulator, seems like the negotiations with dqe have concluded and we've reached an agreement, hopefully this is what will propel our company on to the next level and help us ramp up production faster. GLA
LM Those herders with goats produce 45 million $ of exports per year of cashmere 8.6% of Mongolian exports which which is 25% of the worlds production.
Some how they are not just going to rollover while the land is taken away, so i would expect some fight back and being local or heavy compensation paid.
Hamm: "Mongolian government guaranteed oil production in 2023." "Mongolian government promised oil production this year."
Did they?!?!?
I think you're imagining things.
It isn't a matter of haggling. It is 4 month winter season.
We have still 12 weeks to go.
Mongolian government promised oil production this year.
MB hoping oil production this year too.
It is more likely we get RNS in a couple of weeks or so confirming a 2 week workover.
I am very optimistic.