Petro Matad Share Chat (MATD)

https://montsame.mn/en/read/238319

Okay, I didn't write about Russian lead, but about my friends from Russia. Who are highly professional oilers and whom I know since Soviet era. If you are talking about today's Russia with its mafia government than I agree. For me than closer they are than worser for any businesses in Mongolia. Therefore I didn't like at all when did see that picture on Twitter as they are signing the deal with the criminals from Russian Gasprom

Manro - I don't agree with all that you post. But slowly but surely I tend to share the doubts and criticism you express.

Clearly, if all the big wigs in Mongolia's government as well as all PM's and other experts believe in what they say concerning oil reserves in PM's licensed territory, than we (investors) should be seeing a different type of handling of this situation.
I sometimes wonder whether a Russian lead would possibly lead to quicker and better results.

Manro, I believe you are right there is corruption ongoing here. The question is how are the company going to deal with it? This is an MPP supporting company at the time of an MPP Government with a strong mandate. It is certainly within the power of PM Khurelsukh to expedite this matter should he choose to do so. One needs to ask what is stopping him?

I am quite old and with some experiences too, Simon. Moreover I have done not only my own thorough and detailed research but take advise from Russian friends of mine who are professional oilers. Two of them even invested in PM and were very surprised as me by such an unbelievably ugly situation. When actually oil is found and all of us instead of being the winners turns out to be losers. One of them even has called this situation as oil highjacking attempt by Mongolian either local or central government from own company. Or simply some kind of corruption is going there which is far away from Mongolian economic national interests. Otherwise hard to imagine that there are such idiots in the Government who are completely out of understanding what it mean to make their own single and probably one of the best and prospective oil company in countryto completely idle during the whole year.

Correct Captain Stanley just thought Persistent had some information we weren't privy to. I will await on information from PM to clarify things sooner rather than later. GLA

Good thoughts, Manro.
But please don't post that picture again. Every times opening and looking at it I am shuddering. Lol
Atb

The foreign minister of China visited on September 15 and 16 with an aim of fostering trade and economic development ....certainly the oil business would have been at least one aspect of their discussion , according to his interview MB has been talking to Petrochina for a couple of years DYOR GLA

Totally agree Manro,this share has turned into one ugly *****.Possibly with breast enhancement,face lifts and many nip and tucks we might be able to make Matd presentable.Not Brigitte Bardot but also not ena sharples.PS I’m quite old!

It was contained in an RNS issued by Matad at the time.Check the RNS record.

Time for some news from the company good or bad, we are well overdue a update !

Persistent, could you please post information or a link about the land issue you say has been resolved as I believe we are still awaiting for this along with the funding arrangements and the EL awards and now hopefully next year's work program, would be most appreciative, GLA. JTB

Wrong.Land issue arose because of a dispute between central and local govt over jurisdictional issues.The record shows that it was resolved and the company stated at the time that the delay
was not a factor in El application process.It was not something that the company overlooked.It was ex post facto.

simonpartridge1, totally agree with you. Never thought that PM, like some women, can suddenly turn from very attractive to the most disgusting. And from which you can't even run away now and must wait hoping to escape at the very first opportunity. Unless if there is some kind of miracle suddenly happens of course turning this ugly creature into the same beauty. But this time not as a woman but that giant oil field which Mike tirelessly chatted about at all his meetings and presentations but so far nothing has happened.
https://www.youtube.com/watch?v=GFNs1fSXA_U

We are in this position due to not having paperwork from day one. All the land issue and delays are because PM didn't have permission from the local government. They had winter of 2018 to get all paperwork for heron. But no idea what went wrong. From visa delays to land permits what sort of team do PM have..
Lets hope we get the license soon other wise MB will loose credibility.

While it is and continues to be very frustrating, the fact is that a whole year of exploration and development has been lost. Accordingly, provided the exploitation licence is issued before the end of Q1 next year, operations can proceed according to the plan that Mike Buck and his team had finalised six months ago. However, it seems most unlikely that the exploitation licence will be issued before the land use permit is approved. Hopefully, this can be finally resolved so as not to adversely impact plans for 2021.

Unlikely to get an rns other than on a Monday but lots to look forward to ,very undervalued at 3p ,Mongolian government looking to increase income from oil from 77million dollars to 123million dollars in 2020 ,so even with Covid doubtful that they would want reduced production with an extra 33 mil barrels to be extracted ...and the prospect of a lot more next year DYOR GLA

Very disappointed that no rns yesterday.As the last day of the third quarter I thought it was a given we’d hear something.This share has driven me to the edge of madness when will the pain end!?????????

There has been some discussion on this board about the adequacy of feedstock for the refinery following its planned start-up in a little more than two years. However, a shortfall in refined product output versus domestic crude oil production might not be such an issue as at first theorised.

The refinery capacity is about 30,000 b/d and domestic crude production is currently about 20,000 b/d, i.e. a theoretical shortfall of about 10,000 b/d. This assumes that all production from PetroChina’s blocks are redirected to the new refinery and not exported.

Operating refineries at a thruput well below their capacity is not ideal and can be problematic particularly in the winter months. This raises an interesting question: will it make sense to shut the refinery operations in the winter months and operate at high thruputs during the benign weather months.

This scenario has storage implications for both crude oil and refined products. In all likelihood the current modus operandi for supply of refined products given the climate conditions in Mongolia is to fill storage tanks in urban areas in the autumn and draw-down during the winter, which implies that there is adequate refined product storage capacity already in place.

Continuing the illustrative scenario, the refinery could operate at 30,000 b/d for eight months, starting say in April and shut down for four months from end November through March. This would require adequate crude oil storage at the refinery to handle crude oil deliveries during the winter months when the refinery is shutdown, and about 3 million barrels of crude oil storage capacity should be more than sufficient.

If this a realistic scenario, the availability of feedstock for the refinery may not be a critical issue, so that the Mongolian Government may not be under timing pressure to grant the Heron exploitation licence.

Who keeps doing the 1 buy to indicate an RNS?

Operational news by rns comes out on Mondays with Matd so we need to be eyes and ears open for the next few Mondays . This share is so undervalued and forgotten , yet with a $1 billion asset and much more to come in block XX ,further 10 wells at least according to MB interview , and a possible JV , this stock has to be a prudent buy at 3p and sit on your hands for it to multi bag , what price with oil back at $60 a barrel ? What price with multiple wells producing with licence on BlockXX and Gazelle strike ? DYOR GLA

So how much progress for US$2.08 million using those with cost saving measures ?

Whole year/season lost in the field....
How much has been achieved in the office since June ?

Still waiting with baited breath !!
GL - Oilf.

Petro Matad Limited

('Petro Matad' or the 'Company')

Interim results for the six months ended 30 June 2020

LONDON, 17 August 2020: Petro Matad Limited, the AIM quoted Mongolian oil company, is pleased to announce its unaudited interim results for the six months ended 30 June 2020.

Financial Summary

The Group posted a loss of USD 2.35 million for the six-month period ended 30 June 2020, which compares to a loss of USD 4.41 million for the comparable period in 2019. The Company's cash balance at 30 June 2020 was USD 2.08 million (USD 2.07 million in cash and USD 0.01 million in Financial Assets), which compares to a cash balance of USD 16.12 million (USD 3.79 million in cash and USD 12.33 million in Financial Assets) on 30 June 2019.

The Company has strategically put in place cost saving measures without sacrificing its operational capability, which in the absence of new sources of financing, will enable it to remain in an operationally ready state until mid-2021. Meanwhile the Company is pursuing a number of options to fund the next stage of its activities.

http://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?iframe=true&article=31062411&company=petromatad

Unless news arrives sometime today it is now the end of the third quarter with fake news and no news let's hope it dot drift down too much, good luck everyone looking like more patience required.

My previous post seems to have gone amiss.

As previously, many of us believe MATD presents an opportunity for a massive ROI from current price entries.

Do your own independent research of the RNSs along with Mike Bucks presentations, which give a more complete picture of the investment case.

https://youtu.be/QVBJVi-6gy4

Atb

It’s not surprising the greater interest being focused on MATD now.

For new /prospective investors, it’s well worth independently researching the company and beyond the opinions any of us may express here.

Here’s a useful link with a presentation by the CEO Mike Buck -

https://youtu.be/QVBJVi-6gy4

It’s your money, so worth the investment in time to view the presentations / RNSs.

Many of us are very confident indeed of this delivering a massive ROI from current levels and for various reasons discussed in previous threads, but make your own minds up.

Atb