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Good to see the price steadily climbing, rather than the 50% in a day jumps, that we’ve seen previously - we can achieve the same resultant increase over the coming days & with greater overall stability.
As we’ve seen, the relatively few shares in ‘free circulation’ compound moves on bearish OR bullish sentiment, so good to be commencing on a more positive outlook & building to a steady Uptrend of the price.
No frustrating NT issues securing stock & volatile intra day movements - yet!
The sleeping giants alarm clock will be ringing soon, if you like.
Pepemartinez, once Exploitation license has been awarded to PM and depending on your exit price we will, this is just my opinion, we have the assets to progress. As mentioned by posters "it is a sleeping giant" PM will become a producer and explorer. Just need the license, So just waiting patiently. GLA
Heron development economics based on Block XIX parameters are good, 25MMbo (now 33MMbo), 62 production wells: NPV10 c.150MM dollars ROR 36%, self-sustaining early production possible with c.10-15MM dollars capex becoming cash positive in two years. So we can safely say that this year has almost been and gone. Hopefully EL announced sooner rather than later with all permits and funding sorted so we can make an early start on 2021's operational work program. GLA
I don't think we have to worry to much about block IV, it's block V that's the focus in the near future, Blocks IV and V
Following post well studies on Wild Horse 1 and recognising the short time remaining on the Block IV PSC without any clearly defined, high-graded drillable targets, the Company has proposed to the Government to relinquish the Block with a view to potential partnering and relicencing of its more prospective areas in the future. Valocirapter, Phoenix and Fox, they are the ones we want to be going for. But one step at a time. Again, the road to success is never easy. GLA
Be interesting to see how PM sorts out it's funding for Heron EL + Blocks IV & V.... At least some business is in process in Mongolia - if not PM's !!.... With slightly less funds required than these boys & girls....
does not know what he is talking about re:being around. Is 2010 long enough to qualify as an LTH? I believe there is a lot going on behind the scenes and we will be advised as soon as it is material. I trust the management of Matad unlike him.
And persistent continues to believe that nothing is going on behind the scenes and all we investors see, read and hear is completely reliable. I hope he's right and everything turns out to be hunky-dory. He'll learn by time - he hasn't been around very long. ATB
in oil refinery projects and assuming that the decision makers aren't idiots: I really wonder what these people know that we investors don't know. Looks like a lot to me. Good thing I'm still heavily invested in PM! GLA
Not to long to wait . just going to build my stake when i have spare funds ULAN BATOR, Oct. 8 (Xinhua) -- A ceremony for commissioning the infrastructure facilities constructed to support the proposed oil refinery project in Mongolia was held on Tuesday in southeastern Dornogovi Province.
Domestic oil production and supply play an important role in a country's economic development. The project was financed by a loan from India, which was announced during Indian Prime Minister Narendra Modi's visit to the country in 2015, said Mongolian Prime Minister Ukhnaa Khurelsukh during the ceremony.
"Taking this opportunity, I would like to thank Indian government and its people for helping Mongolia to build the first oil refinery," he added.
"I'm happy to share that on Mongolian request, India has announced an additional 236 million U.S. dollars line of credit from India to Mongolia beyond the committed 1 billion U.S. dollars," said Dharmendra Pradhan, India's Minister of Petroleum and Natural Gas.
Pradhan said that the Engineers India Limited, a public sector undertaking of the Ministry of Petroleum and Natural Gas is providing project management consultancy services for this refinery project. On completion of the project, it will meet about three-fourth of Mongolian requirement of oil, he added in his statement.
The refinery will have a processing capacity of 1.5 million metric tons of oil per year and will annually produce 560,000 tons of gasoline and 670,000 tons of diesel fuel, as well as 107,000 tons of liquefied gas. The refinery would boost Mongolia's gross domestic product by 10 percent.
I agree OldsCool. On 8 Oct I posted: The Mongolian government is no longer under timing pressure to issue the EL any time soon. Operationally, this year has gone, thanks to the Mongolian elections and its consequences, Bureaucracy and Covid 19. Accordingly, provided the EL is issued well before the end of Q1 next year, there should be plenty of time to implement next year’s exploration and development plan
I am not suggesting that the EL will not be issued before the refinery is complete. What I am saying is that with no refinery available in Mongolia presently, there is no rush to issue it now. The timing of the EL will go hand in hand with the refinery being operational. When they need oil in place for refining to commence they want this to be Mongolian. They will not want to see oil being trucked out of their own country. I want this to succeed, I have been here a long time and can’t wait to see my investment bear fruit. It is on the way now ... GLA.
As soon as the weather permits, construction of crude oil tankage at the refinery site should commence. A minimum of 3 million barrels of crude oil storage will be needed and should be largely full of crude oil on start-up of the refinery. Not only should the government approve the EL but there is incentive for the government and PM to enter into a supply arrangement for Block XX production. This would mean that PM would not be dependent on PetroChina for exporting Heron production to refineries in China. Petrovis could be party to such an arrangement as oil delivery is its business. Most importantly, such a deal should enable Petro Matad to obtain favourable bank financing.