Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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From RNS June 20th 2023.
Block XX: The Company continues to target having everything in place to get the Heron-1 well onstream as soon as the land issue is resolved by the government. Pumping, downhole completion and power generation equipment and power control systems are now all in country and ready to be mobilised and installed at Heron-1. Production tanks have been sourced from PetroChina. These second-hand tanks offer a cost-effective solution to achieve rapid production start-up and have passed non-destructive testing to confirm integrity and suitability. They will be relocated to the production site where installation fabrication and electrical work is planned once access to the production site is obtained. The Company and MRPAM discussed with PetroChina Daqing Tamsag, the operator of the Block XIX exploitation area and facilities located immediately north of Block XX, options to process, export and sell Heron crude during the initial phase of the Heron development.
Negotiations with DQE Drilling (DQE), the main provider of drilling services in Mongolia, have continued and a contract for a multi-well development drilling and completion programme is in the final stages of discussion. The contract envisages a reduction in drilling, testing, fracking and completion costs compared to the previous drilling campaign and includes some deferral of costs to allow a portion of the drilling expenditure to be settled from future production revenue. The contract once finalised will require MRPAM approval and discussions have now begun. The cost reductions and payment phasing could significantly improve project cash flows and overall asset value since the largest portion of the Heron development costs are drilling related.
Many will but for FOMO could have v oil rns on Monday
All we have here... wrapped up in a £63m Mcap puts it into perspective...6p has nothing priced in as far as I'm concerned so the potential upside here is absolutely massive.
I don't normally take much notice of investor mags views...but in this case they are on the ball and that is where we should be right now, let alone when V1 comes in. Be good to see another 10-15% today.
So give or take a bit for organisation we could see oil by end of August gla
I'm off the the gym within the next hour, see you down there WOS for a few circuits.
Let's hope we don't bump into Bad Prophet he would probably predict that the swimming pool is going to leak, the Sauna is going to turn into a freezer and the weights will become brittle and the wires on the equipment will snap.
I have been with PM since 2017, hold 600,000 plus shares at an avg price of 4p. I kept the faith and now the rewards will be great even if Raptor fails on the first drill.
Says we should be at 17p
From the RNS
The Company will now work with the central Land Agency and local authorities to complete the registration of the area and to sign the necessary contracts required by the regulations on the management of special purpose land.
In parallel, we are already in discussion with service providers to determine a timeframe in which crews and equipment can be available for the completion for production of the Heron 1 well.
Wiseowl can you put a lnk up? thanks
To do the workover i think only a crane is required. But to drill heron 2 he will need a rig . If he can get hold of either Dqe or Major to drill heron 2 , that'll be amazing.
Mr Master
Think Heron workover rig contract all have been arrange & ready for go ahead. Did hear in interview.
Before someone ask Mr Buck did answer question on Petro China talk about share of facility. He say "very constructive & helpful with good relations". Also did say Mongol Govt own actual land so on "both sides of discussion" so does not see any problem with this (all know what some BB poster like ;) ).
Any takeover approach will have to be at right price to reflect value & for shareholder (also in interview because I watch them all lol).
Mr Dockerman I will thank you lol. I do not watch screen because know what my target ROI is (triple figure SP like I say plenty time & investment timeframe).
Easy to be happy in shopping or gym lol & now all land issue uncertainty gone. Just wait & watch development / price grow :)
If MB can organise a rig ,we could have heron 1 and 2 on production. 4 months before winter kicks in.
You never know he might just do that.
First Oil by the end of the year should see a big rerate here with institutions coming on board now its derisked. Certain multibagger from here,and how many of those are there at the moment? Easy buy and hold for anyone's portfolio in this awful market, surprised it didnt rise more yesterday but still a bargain down here. GLA, nice to be making some money for a change!
Few sneaky weights... enjoy the gym sir..... think i'll go shopping!
Mr Astro they will try. Mr Mike Buck did mention this and make sense strategically. Also because close working & 2Billion proven & in place in Block XX Toson Uul (this is just Chinese side but Petro Matad share even bigger).
Also plan to export surplus renewable for China demand
BUT will need to know how partnership structure with Mongol Govt is. They want Energy independence and another reason so strong support for Petro Matad from Govt.
Short: China will want TAKEOVER but can they get it?
I go gym today & Happy either way have share which is main thing for me :)
Possible chance Chinese big boys Will buy off or partnership with matd? Now matd has all the paper works sorted?
20%
Jeff Bezos
"GIVEN A 10% CHANCE OF A 100 TIMES MULTIPLE PAYOFF, YOU SHOULD TAKE THAT CHANCE EVERY TIME"
MATD have 29% COS with V1 (higher with +V2 and on proven working petroleum system) with upside potentia "Country making" AND Safety already in place with Heron asset land access sorted
Invest how you like. Easy choice & all stock held for journey upwards / company development ;)
Think MAIN thing is stock have major DERISKED now with land access for Block XX (also mean 2Bn proven & in place Tosun Uul).
*Like I say yesterday price rise +46% on lowest market day of year with only 3 Ftse100 company blue.
Multiple Newsflow Due
- Land Registration (National Holiday only July 11-July 15)
- Heron Workover (2 week)
-PM/PC agreement (Mongol Govt own PC land so both side of negotiation & like Mr Buck say very constructive & good relationship)
- Renewable NEAR TERM revenue & development "at PACE" (People massive underestimate Renewable. Check interview with Deputy Energy Minister montsame mn/mn/read/322617 )
- NEW BLOCK RNS
- DQE Multi Well drill program contract completed & with DQE Head office for review/approval then MRPAM approval (Feb 14th RNS). Discussions with MRPAM already begun (RNS 20th Jun)
-IOM meeting. Do not have information but with member MRPAM & MMHI there in person with new company formation all look very exciting.
- V1 (TD next week) & V2 ready if need straight after.
Everyone know now Petro Matad position for FAST TRACK MAJOR GROWTH with or without Velociraptor drill
"The contract (DQE) envisages a reduction in drilling, testing, fracking and completion costs compared to the previous drilling campaigns & includes some deferral of costs to allow a portion of the drilling expenditure to be settled from future production revenue" (RNS June 20th).
* Cash for at least July 2024 and revenue generation expect 2023 with also freed oil asset ability to generate loan (if needed) (interview Mr Mike Buck).
Can see MATD position to move aggressively UPWARDS over weeks ahead and small investor will slowly vecreplace by larger holder.
Fast track to revenue generation also mean dividend introduction (even small to allow large Institutiin entry) with Petrovis not interested in capital gain of stick but cashflow from investment.
With V1 hit or not remember word of Billionaire Jeff Bezos :)
-
//I reckon badprophet is a paid deramper.//
Oh how I wish that were true. If you can find someone willing to pay me please let me have their contact details asap. LOL
I still can’t quite believe it , we are now a producer , not just an explorer continuously diluting to keep trading . We will soon be self sustaining and growing rapidly . Heron work over 2-3 weeks with the kit all bought paid for and in country . Onward and Upward !!! E & P Matadors!!!
And when the tankers roll in.. .. not until they are filled.. then.... not until driver restarts the engine.... then not until drive puts it into gear... and on and on .. lame .. so bl00dy desperately lame.
I reckon badprophet is a paid deramper.
//We’re a producer now//
Not till the tankers start rolling.