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Thank you Dozz!
I can confirm I have actually seen a copy of the "strictly confidential" email that Bowley sent to someone high up in the Mongolian government with regards the LP and PM. This email was sent 2 weeks before the cabinet approved the LP. I am actually hoping now that Bowley sending a new email to the British government/ambassador tomorrow it will put more pressure on the MG.
I think this is the only way that this will move forward. We need this LP well before year end
Mr G Kahn
This has been big point in media & political debate about Mongolia reliance on Russia oil import. All part of self sufficient drive & push for domestic production / Renewable investment.
Like you say Block XX development will help provide feedstock for refinery to meet this goal & shoot in foot if block. Also loss of PSC revenue.
Like I say in previous post reason why MRPAM, MMHI & Land Agency all heavy backing for Petro Matad in process with legal change to give no way for local govt to block (also link up with mr Mike Buck statement on good relations now with local & herder agreement reached).
Hope this info add to inform debate here 😏
We all know both Russia and China can crush Mongolia with force BUT here is point.
BOTH Russia & China have strategic link up with Mongolia to benefit them (article also talk about many trade agrremments sign with China during PM official visit in June & we see recent trade visits to Mongolia from Russia).
If Russia OR China push too much influence on Mongolia they do threathen each other interest also (check China plan to invest heavy resource into Mongolia renewable for energy import with agreements last few months in official visits).
No guarantees but lots of reason to be very positive on development of Mongolian economy & position.
About Petro Matad finance same and will go by official position in 20th June RNS about "cash sufficient until at least July 2024" unless we hear different.
My own opinion is we will get all formalities for Special Certification approval within next few week to start Heron / Block XX operations. New laws to imprison anyone who obstruct Govt business put there for reason. When Cabinet orders something (specially under National Importance status) not so easy for anyone to start obstructing.
Dornod head akready say nothing he can do against Govt order and this is why.
Hope info help & I believe very good time ahead for investor in stock
“The government will be into election mode late this year. Let’s say PM produce before year end. This will give the DP and others political ammo to use as Mongolian crude will be going over the border, when the country is shipping nearly all of its fuel from Russia. A huge political own goal. “
If as and when Heron is producing oil the Mongolian Government will be entitled to 5% royalty oil and an initial 40% production share, i.e. 45%. While PM 55% would have to go via PetroChina to a refinery in NE China, for the next three years until the Mongolian refinery comes on-stream, it is very questionable whether it would be politically acceptable for the Government to export its oil. The alternative would be for MRPAM to enter into a storage arrangement with PetroChina.
On the other hand, If Heron production is stalled for an extended period, PM wouldn’t have the income and cash flow to pay for additional block XX exploration and development, unless the deal with DQE is extraordinary favourable. Further success in Block XX is key to domestic supply for the refinery. Otherwise, Mongolia might have to import Russian crude oil for the refinery to be operationally viable.
Article also say
"Although his compatriots (US) openly express their position against Beijing, the Prime Minister said that neither Russia nor China possess a threath to his country"
"We have two neighbours that are located directly on the border, and we differ in terms of the governance system and some values. However, both of our neighbours understand the development path chosen by the Mongolian people and respect our development path, even though it differs from them"
This article from 8th Aug 2023 (after PM US visit) maybe have some interest Mr Doc
montsame.mn/mn/read/324382
"With a total population of 3.4 million, landlocked Mongolia is still closely tied to its two huge neighbours, but it's democratically elected government is committed to diversifying its economy and expanding relations with other regional powers such as Japan & South Korea, as well as with Western countries."
Harvard educated reformist Prime Minister visited Washington last week and met with US Vice President Kamala Harris.
"Mongolia is expanding its "third neighbour" policy and this policy is very important to maintain the balance of relations" said L Oyun-Erdene during an interview with Washington Post journalists
Better to read complete article. This is just bit for person who will not read it & give idea.
Wow, I was out all day yesterday and am just catching up here! Never a dull moment on this BB.
The corruption bit is no surprise to me. This, and being sandwiched between China and Russia (two of the most powerful and corrupt nations on the planet) has always been a concern for me. But my hope is that ultimately Mongolia will want that oil out of the ground eventually, and our biggest shareholder, Petrovis, are Mongolian. The challenge is MATD keeping afloat long enough!
Not sure what to make of Bowley. Are you invested here and if so, have hope that we’ll see a positive outcome eventually?
Think Indian Minister has seen EVIDENCE as well and he pass Refinery project. What pay grade is he?
Think I believe him to poster on MATD BB who already show how accurate his intel is with last prediction 😂
Seems like a game of thrones here, intel about who said what. So sit on side lines and watch it play out. Have a nice week end guys
It’s very difficult to take someone seriously who thinks they are an Owl.
As for the announcement you have no idea how this came about.
Ask Doz, he knows, he has seen the evidence.
It’s a bit above your pay grade buddy.
Think because both mr Master & me do LOT of research on subject VERY easy to spot fake intel 😏
Maybe Q you should ask is does this person's have problem with President for political gain?
Why did intel say Cabinet will not approve Special Certifcation until earliest Oct 2023 and then VERY NEXT DAY after you post this post this Cabinet did approve Special Certifcation on July 5th?
Did you question your Intel source?
Did you question why top Indian Govt Minister have clear Refinery progress?
Sloppy (or fraudulent) Mr Bowley!
Check my post at 14:48 to see just how good mr Bowley intel source is lol.
Also cannot answer point of Indian Minister report just few week ago which completely contradict his uname source. Remember this is same great Intel that say we will not get Cabinet Approval of Special Certification until October 2023.
How right was Mr Bowley's great unamed Intel sources?
Remember obvious if election next year and politician trying to accuse other you do not think unamed source will use pawn to try to accuse other. I read this accusations EVERY day with my own research.
Only difference I cross check & use common sense. Did you not think Mr Bowley to check against Indian Ministers own report on Refinery from few weeks ago?
Maybe if you do basic good research practice & not listen to gossip you will not fall into trap like you did with Cabinet decision base on your Intel (gossip).
Be Happy but use good sense & do not post like feaud 😏
Like I said PM is way too small and not even producing to have any impact.
PC has been operating for decades and it made history for the first time , as it was discussed in the Parliament/cabinet.
They mainly discuss on Rio tinto and Oyu tolgoi mine.
Trust me I follow lot of politicians and Mongolian agencies on Facebook and not one has
Mentioned PM at any level. PM is way too small.
Petro China has been Mentioned frequently.
Talon and TMK Are doing better than PM and they are never mentioned either.
Master.
It matters enormously. If you think PM and the oil it may produce has no impact then you really do not understand Mongolian politics.
Next year, (June 2024) is a general election.
The government will be into election mode late this year. Let’s say PM produce before year end. This will give the DP and others political ammo to use as Mongolian crude will be going over the border, when the country is shipping nearly all of its fuel from Russia.
A huge political own goal.
Easier to keep spinning news related to a late refinery, keep PM on hold and spin a narrative all is moving to plan. As we know things are not moving to plan.
I advise several other companies in Mongolia with other governments involved. What you see here with PM is standard operating protocol in Mongolia.
It’s a narrative and game to suit the politicians. Not the investors.
The only way this may change is if the serious pressure is put on the Mongolian government. I have recently seen another European government exert pressure from their own Foreign ministry to the Mongolian Foreign ministry with a further 20 letters delivered by diplomatic pouch. Not one was answered.
Although Mr. Bowley has dispensed with his anonymity.
// I just don't get your motive here.//
I didn't know you needed a motive to post! I thought it was just a bunch of anonymous idiots chewing the fat & popping off at each other. Learn summat every day.
Bowley I don't think it matters what the main agenda is in Mongolia next year. Small company like PM Is not going to have any impact or be affected by Mongolian refinery.
PM is too small to have a big impact on Mongolia.
Might have an impact if PM was producing 20k bod
.
PM just needs the all important paperwork which is taking very long time.
Master.
Question. What’s the biggest thing on the agenda next year in Mongolia ?
Bowley I just don't get your motive here. ARE YOU INVESTED . Why would someone of your position be so bothered about a AIM listed company.
Refinery will get finished as lot of money has already been spent. Its like building a new house with no roof. Pointless.
Refinery will have no impact on PM. PM is not sending oil directly to the refinery.
Even if PM GETS less for oil selling to PC it will take the headache of transportation to the market.
Your argument is Pointless and doesn't have anything to do with PM.
I don't know if this helps to provide an clarity ref the refinery. I understand this interview took place with the Indian minister a month ago in the Mongolian capital. https://youtu.be/tqdCnQ74FX0
Mr Bowley
Carry on with personal abuse sir. Why should we believe you instead of official Indian Govt report who have DIRECT access to project?
Also you think no stage payments or external auditing?
Simple qurstions but I am only sillly owl 😏
Maybe your intel about "NO Govt decision until after Parliament RECONVENES in early October" summup how good your intel is.
Was this from same contact? And then decision next day 💯
You keep ramping trouser man.
You have been at it all year.
Who ever is paying you to ramp this share certainly is getting value for money.
Mr Bowley
You did not answer ANY of points I make in post 05:37. Instead you throw abuse. Any person who understand business & Mongolia intel will understand.
You pretend you have insider info but just like your comment "YOU WON'T SEE ANY GOVT DECISION UNTIL AFTER PARLIAMENT RECONVENES EARLY OCTOBER" (4th July 2023).
We see Govt decision NEXT day in 5th July (RNS 6th July).
Like I say ALL intel point to Refinery progress INCLUDING new laws to speed up personnel / equipment only few month ago after personal visit by Prime Minister AND visit by Indian Govt Minister few weeks ago who give all clear on project progress.
Also ZERO I tel or any other indication of "President taking refinery money" lol. If you understand Mongol politic / culture after Coal scandal all party a cause other part of corruption. Maybe you check out your "contacts" to see if they have any thing to back them up or are misleading the Misleader ;)
Think if you want credible intel sir better to look at report from Indian Minister who have DIRECT contact with Refinery project at highest level and give it ALL CLEAR.
Better then BB poster reporting from unknown contacts lol