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"Main thing for me is BIG FUNDS start to come in and replace small holder."
Bit early still to read too much into it... just one so far. If we can start actually producing oil, then I think you'll see more come in.
Now complete OVEREACTION from V-1 over we can focus on real VALUE which is multiple of SP now.
Like header say MULTIPLE RNSs due within next few weeks.
Let us see if HARD BREAKOUT about to hit with all who have been watching on side start to push back in.
Main thing for me is BIG FUNDS start to come in and replace small holder.
Exciting journey ahead :)
I think it’s a good move Doc
MMAFR I had not realised V1 was a duster :( -thank you for confirming. From time to time I read this forum but there are times when there is too much ramping and nonsense etc and I switch off from the forum.
I normally check twitter for updates on PM, its funny how MB tweeted great news on twitter about the land permit and did not tweet anything about V1 unless I am going blind.
At least PM can now move on with Heron and I hope they start bringing in serious money as these wild explorations are not the best thing for us as we need to have financial stability.
Holding on to my 450K shares to see where this now goes. So it's back to being patient again and see what MB's is going to pull out the hat. No buying or selling, just sitting on the fence watching and waiting.
Bigbench - That'll be me. Thought long and hard but true to my word, I said if it "inexplicably" fell back into the 4's after LP approval that I'd consider another top up. I can't see me going beyond this now as it's a big enough chunk of my overall portfolio.
Rationale:
- I'm happy this has been de-risked with cabinet signing off on the LP, and that the local agencies won't or can't now stand in the way.
- Bad news of V1 (which I always expected to be a duster) is out of the way and I think there's value now here.
- Possible raise down the line? Very possibly, but not for a little while I'm guessing, and by which point I'd hope to see the SP north of 4p.
- I think MATD have their fingers in other pies that we don't yet know the details of (IOM, new company formed etc) and that they'll be more good news ahead than bad.
- Gervais Williams/Miton UK Microcap holding a chunk of shares. This guy is no mug and also called TXP correct.
A few buys in before the bell... Got a feeling many are taking positions in case MB delivers exciting news on Heron... massive bargain @4.30 in my view
Tick up due
I don't think that's realistic, as things stand today.
I'd be delighted with 15p right now! But I get the impression more is going on in the background than we know, so perhaps it is worth more.
"If take over happen I wonder what the value of the SP?"
Misterpositive mentioned a hypothetical T/O figure of $500m an hour or so ago. Based on the MCap I get this to work out at around 45p/share just as a rough guide.
Mr Ibiza
Very strong reason to think Petro China WILL make takeover attempt IF THEY CAN. If they really want something they WILL pay for it and also strong link up we expect with DQE partnership.
BUT
Block XX production will be strategic asset for Mongolia toward energy independence which they work for
BUT
Mongolia have very close link with China and if anyone monitor high level political talks then will see how close they are (now)
I do not know answer but VERY good point about India sir.
Mr Doc very interesting reference to larger holder and think thing in this department will change rapidly with clear sign of move toward PRODUCTION which will attract FUNDS.
Coming RNSs as header say will help in coming few days / weeks.
Big rebound soon with price breakout as land access issue get fully absorb & what it mean :)
If take over happen I wonder what the value of the SP?
Miton UK Microcap Trust (MINI.LN), run by Gervais Williams, hold exactly 24m shares or 2.12% of the company.
Petrovis are obviously way out as the largest holder with 221,937,203 shares or 19.57%.
MB holds 11,600,933 shares or 1.02%.
These are the top 3 largest holders on the register shown on Bloomberg currently. I'm not sure exactly how up to date it is.
Possible take over.
In the short term not likely in the medium term once we start to churn out the barrelage it will be interesting and one to watch. because this is Mongolia no believes until it is seen.
So who could take over: Petro China most likely and at the same time the most least likely. Certainly the nearest and biggest oil company and already in Mongolia. So yes very likely but
1) MB made a point of somebody paying the proper market value and I think the Chinese have a habit of wanting something for nothing.
2) Chinese have blotted their copy book in Mongolia and very unlikely that either Petrovis or the MG would approve the takeover. I do not think that all this support was for company wanting to sell onto the Chinese.
Alternative would a western company Shell, BP or Conoco or so but again i think unlikely. They would be minded of where Mongolia is and would feel stuck between a rock and a hard place.
So let me give you another is the Indian Oil Corporation who have at the last count around $3bn from what i can tell. Why India. Well they are already building the refinery for Mongolia. They bridge both worlds for Mongolia they have a foot in the west and a foot in the east. They are a member of BRICS the economic and political grouping that includes China and Russia and therefore understand the mentality of the two countries.
But i would not bet on anything happening in near future but no harm in speculating. But just my opinion.
Price climbing (+0.95% on Google) and setting up for breakout mention before I think.
Next few day will show but my share safe for Header title RNSs :)
As Doc said, I just cannot see the MG allowing PC to takeover Block XX. Yes logistically it makes sense, but look at the hassle they have had with PC and the locals. I don't think they would dare allow it and I would not be surprised that, that is the reason that the PSC's were changed in the IOM. Also I wouldn't be surprised that PM agreed to the change because the MG will invest in a % of the PSc with PM.
Did I read correctly a while again that the MG tried to change the PSC for PC for blocks 19 & 21 but PC flatly refused.
Petrovis will want DIVIDEND revenue / Takeover ROI from investment at some point now. Fast track Block XX development with DQE partnership & first revenue this year will help.
Will see if this happen from ways you mention Mr P but very possible & will be good for all shareholder as well :)
Mr Doc mention Gervais Williams of Premier Milton Fund buying Petro Matad.
Think now moving toward PRODUCTION lot more Institution / Funds will start to buy in.
I will welcome this & know share price van move VERY FAST so do not worry about size of balls of any other investor sir because ball size is not my speciality ;)
Happy :)
V1 duster could be a blessing in disguise for Shareholders. HERON was our insurance.
Cannot rule out PETROCHINA Takeover or Buying out Block XX from MATD. Mongolia Govt wants all the oil they can get to meet the 30k barrels needed daily for the new Refinery.
Remember 20 years ago...SOCO INTL had drilled just 2-3 wells on their Block 19 oil discovery at the time before PETROCHINA bought them out for around $100m when Oil price was quite low.
At todays Oil price, the Offer price would be close to $500m give or take for similar deal.
MATD can then use that cash to partly pay a SPECIAL DIVIDEND to shareholders and use rest to Explore the untapped Billion barrels across Mongolia. Would be dream come true.
Volume very very low again and a few buys from the positive guys here would have put the SP higher.
So conclusion seems to be that although we are all very positive about the potential of Matad nobody is buying ....
So we need to grow bigger balls or need new buyers...
I could buy more but not willing yet. Stick with 250k shares only
Reread the progressive note. Only 2 pages. No link between Duster and increased confidence.
LP gives more confidence in core value. Duster unfortunate and was always high risk so they agree that LP is more positive than the Duster negative...
Progressive Research note say V1 duster give "more confidence in core valuation of 26.7p"
Remember Petro Matad ALREADY have oil, have funds to start development of Heron for production & have finalise terms for DQE partnership to fast track full field development at low cost with DEFERRED COSTS / OFFTAKE COMPONENT.
Also potential 3 BILLION barrel in Toson Uul extension with Petro China extension of SAME BASIN 2 Billion Proven & Producing.
Do not worry about V-1 duster sir Lol ;)
You must have noticed that we received a PR for V1 on Monday.... its unfortunately a duster.
Mr gvw121 India is mostly Hindu ;)
For those looking at short term oil pricing / costs until Mongolian refinery built
"Mongolian produce oil process truck through China and sold to Chinese refineries benchmarked to globally traded crude which is about 5% discount to Brent"
"Trucking & operating costs are recoverable under the contract so you get those back" - 12 min 30 sec into video.
https://youtu.be/AzHbQpedtMI