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He probably meant to say 2 years? Woulda been nearer the mark.
Way back when weren't you able to see the names of who was ticking up or down?
I used to find it useful.
Hands up, the 4 people who have recommended Hamm's post?
Not sure if someone posted the resolution previously here. just for curiosity, searched and found it and sharing below. GLTAH.
https://legalinfo.mn/mn/detail?lawId=16759939594931
DECISION OF THE GOVERNMENT OF MONGOLIA
July 5, 2023
Number 265
Ulaanbaatar city
REGARDING ACQUISITION OF LAND FOR SPECIAL NEEDS OF THE STATE
Based on the provisions of Sections 16.1.8, 18.1.2, and 18.1.3 of the Land Law, the Government of Mongolia DETERMINES:
1. 21,392 ha (213.92 sq.km.) of the oil production sharing contract "Matad-XX" in the territory of Matad Sum, Eastern Province, shall be taken for special use by the state, and the change of the turning points of the land border and the size of the area shall be approved as attached.
2. The Minister of Mining and Heavy Industry, J. Ganbaatar, the Minister of Mining and Heavy Industry, J. Ganbaatar, Minister of Construction and Urban Development, to calculate the necessary costs and the period for land acquisition, to calculate and agree on the replacement or redemption of the land that coincides with the land of special needs of the state specified in 1 of this resolution. Minister T. Davasuren should be assigned the responsibility.
3. The Land Management, Geodesy and Cartography Department (J. Batsaikhan) should be instructed to register the land acquired for special state needs in the land cadastre state database according to the appropriate procedure, sign a land use contract, and issue a certificate.
PRIME MINISTER OF MONGOLIA L. OYUUN-ERDENE
MINISTER OF BUILDING AND URBAN DEVELOPMENT T. DAVAASUREN
Great great opportunity to add while it is quiet.
Multiple baggers on the way.
MB is still in Mongolia. He will surprise everybody soon.
Heron1 in production in a matter of 2 weeks.
😴😴😴
This is a fantastic opportunity to bag some more IMHO. The odds are that just like it shot up the last time,the same will happen again. Ignore the temporary doubters and get on the ride. This is indeed one of the better ROI than some on the AIM. GLA
DYOR
Price REVERSAL here AGGRESIVE! 🔥
Because of header upside & RNS any time now watchout 😏💰
If Petro Matad get Heron on line this year or next, with or without another raise (but more likely another soft Petrovis soft loan), then shares bought at 3-4p will multibag++.
The only real debate is whether it's realistic to think that it won't happen.
At sub 3p its worth a punt. Probably this week.
Love the blind optimism but reality is we are edging downwards. Have top up target set at 3.5
"sufficient Cash until at least July 2024" (RNS 20th June 2023)
Better wait until next cash raise if you do not believe 😏
To the next cash raise!
Header say all and will upset some Sneakies but fast development of Petro Matad into multi facet Energy company have been discuss before.
- DQE partnership with low cost / offtake FULL FIELD / NEAR FIELD Development will help this.
- New multi billion bbl sharing / next to proven & producing with New Block from tender
- Already have extension into est 3 BILLION Proven & producing Toson Ull as part of Block XX exploration area extension.
- Renewable contract news / first revenue expected any time with Mongolia one of GLOBAL BIGGEST POTENTIAL in this sector.
- Cash until "at least July 2024"
Why I say this again. Lot of new investor look in & current investor reminder (other please filter).
What is hold up? Now have Cabinet Approval (July 6th RNS) for Special Certification Land Access.
Cabinet have ordered local govt to conclude all follow up formalities. All documentation have been sent out and just need signature. As local governor say must obey order of Central Govt.
With oil asset already in place, cash to develop, renewable operations set up with near term revenue & FULL SUPPORT of MMHI, MRPAM, Land Agency for first production THIS YEAR then will not take chance to not be on rocket SP like header say.
Not my choice to make for other people but header us like I say & everybody decide for themself with good research 🦉
Think must assume transport cost recoverable because mr Buck did say they are and until we see something that say they are not. This is reasonable I think.
Agree with you sir "export economics attractive whether or not the trucking costs and PC's fees can be treated as recoverable"
MMHI & MRPAM want Heron onstream this year because they do not want to lose revenue from PSC.
GKahn's analysis is extremely helpful to all investors/readers on this BB.
Unfortunately, our (the investors's) options to influence PM or its mgmt are very limited. We can buy and we can sell. There's not really not much more than that out there.
So: Let's give them a chance to make this project come good. I'm not the first poster to say that we need to be patient.
BP
Indeed, there are several issues to be negotiated. However, I believe that these can be agreed relatively quickly once the land problem is finally resolved. Hopefully the Chinese will be pragmatic and MRPAM will be supportive and co-operative.
I am confident the export economics should be attractive whether or not the trucking costs and PC’s fees can be treated as recoverable under the PSC.
Not quite as straightforward as some would have us believe is it!
Ojay
Thank you for your kind words, much appreciated.
In terms of analysing the export economics for Heron crude, there are a few points on which we need clarification.
Firstly, the trucking costs for the 400km to NE China and empty return, I saw a recent post which mentioned a cost of US$8.00 /bbl. I am not sure of the provenance for this figure, maybe PetroChina, but the estimate looks reasonable. In addition, PC will want a marketing/facilitation fee.
Secondly, we need clarification on whether the trucking costs and PC’s expenses can be treated as recoverable Petroleum Costs within “Petroleum Operations”. I have looked for a definition of Petroleum Operations, but unfortunately the summary of the PSC in the AIM Admission document does not include a definition.
Generally, there has been a close historic correlation between Brent and the Daqing crude price, in which case whichever is adopted as the basis for pricing Herod crude may not be material. However, we need to understand whether discounted Russian crude entering the China market could be a factor in the export negotiations with PetroChina.
Under the Block XX PSC, the Mongolian government has a production share of 40%, managed by MRPAM, plus a 5% royalty which they will likely take as royalty oil. The question arises whether the Mongolian Government will participate in exporting their 45% share given the political sensitivities. If they decline what are the potential implications?
GKahn
Thank you for that GKhan - much appeciated.
However, what investors (incl. myself of course) are primarily interested in are the results of your analysis, i.e. what do you think about these elaborations? In case you may have not (yet) realized: your opinion on this board counts and is highly respected. Many thx.
OWL: RNS 7 December 2021:
“The Mineral Resources and Petroleum Authority of Mongolia (MRPAM) and Petro Matad held the first Exploitation Meeting at which it was agreed that the technical details of the benchmarking and pricing of Heron crude should be finalised between the Company and MRPAM by year-end. This will then allow for contract negotiations with potential buyers to begin. Mongolian crudes have been priced benchmarked to both Brent and Daqing crudes over the years. The Heron 1 assay is Brent-like in its chemistry and so Petro Matad is pushing for benchmarking to Brent in discussions with MRPAM and once agreed, plans to do so in the follow up negotiations with potential crude oil buyers early in the New Year.”
As far as I am aware there has been no further update on crude pricing.
You may find the following extract from the CPR in the AIM admission document of relevance despite being historic.
“Petro Matad has advised that any Block XX crude oil production would be sold at the Aershan Oil Gathering Station located in the Aershan Oil Field in Inner Mongolia, approximately 400 kilometres from the block. We are advised by Petro Matad that the crude price obtained at this point for any Block XX crude would be equal to the FOB price of Daqing crude oil less a differential of US$1 / bbl.”
WOS, you seriously must be a bot or some kind of AI experiment gone wrong.
But - STAY SHORT is the advice! Only of interest to traders of course as LTHs are secure in the absolute knowledge of future riches.
"The chance of a BULLISH confirmation that will change the signal to BUY is quite high (from short)".
I prefer total focus on investment FUBDAMENTAL and this is shown in header. People say but need final paperwork sign but this is ONLY reason we have mkt cap so LOW.
This is why say X10, x20, x30 BAGGER potential as company move to FIRST PRIDUCTION, REVENUE & GROWTH.
Do not have time for moaning. Just analysis of investment NOW and ROI in my investment timeframe.
Be Happy & enjoy weekend with smile on face & sunshine in heart because rocket coming soon enough🚀🌞😊
Thornogson,
The fact that I was wrong and does not bother me. As only those who didn't invest can avoid mistakes. But over the time not see those who simply parasitise, like your rogue MB and whom you praise, have to be brainless. Apparently due to your lack of brains you are unable understand how and what sort of crimes he has committed over all these years.