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I think MB should go to MM and reminds him 1 to 2 months LP promise!
Now 8 months gone since then. MM should give us a written deadline.
It is kind of blackmailing to me. As I sai national importance might have different interpretations.
Facilitate the process or delay the process!
MB needs to wake up.
Shagged- your answer is in RNS 3rd April its deemed a "....project of national significance..."
I think people should stop assuming things and posting something they don't know, looks like false posting and info being spread,
We all need to go by the RNS
The RNS is clear enough, we wait and see if land development speed this up now, looks to me they are all doing things properly or otherwise they could have not come out and say it should be us doing the Submission, in a country like Mongolia they could have let it slide and we could have ended dealing with this many years later
I just don't understand that from one side you can see MB has a close relationship with ministers and that is why he accompanied them in IOM but then he can't get LP sorted. I guess his mistake is that he is very cagey, he shouldn't. He should speak up and be transparent. He should raise his concerns with Mongolian PM or whoever if necessary. unfortunately UK ambassador was not as strong as I hope.
Please guys tell me what achievements have we got in the last 4 years? Apart from raising money twice!
I agree with BB that we news and that news but that must be LP granted.
Personally I can’t see traders doing much here…we definitely need news to move this now and that could be anytime in the next few weeks….speculation and ramping/de ramping talk will do nothing here we have heard it all….4.5-5p range is where it’s at imho.
What objections are you thinking PM will face.
Its next to a field with plenty of wells
I notice from the RNS dated 22 May, in relation to the Block XX exploitation licence the following MATD comment.
'However, the Ministry of Construction and Urban Development has insisted that as the ministry responsible for land issues, the Cabinet submission must come from them. As a result, they are repeating the step of asking all other ministries for comments after which we expect they will make the submission.'
So MATD 'expects' the Ministry of Construction and Development (MOCAD) to make the LP submission to Cabinet.
The question I would ask is how do we know that MOCAD have any intention of submitting the document for approval? There is nothing to say that other ministries won't post objectionable comments which may deter the MOCAD from even submitting the document, or at the very least severely delaying the submission until objections have been investigated and dealt with.
I guess any news should be released asap. Why do they need to play hide and seek?
That is not fair to blame shareholders who are asking for news after waiting patiently for years. MB was good dropping a bomb after trading day with an RNS raising money but mean to five us a joy with a positive news!
The news in the RNS was LP has more delay because another ministry wanted to have a say too with no deadline and no more good news or any news worthy. I wonder if MB ever read these posts or not?
I am not worried about the price as we how fast it bounces back up. I still think this could be a life changing share when we LP secured which wouldn't be too far.
Even the construction ministry representatives were in london that same week. I'm not sure if one of the women in both pictures are the same person. Photo from IOm meeting and The construction team photo.
Check it out and see what you guys think.
Another thing to consider is that the Mongolian Embassy website gave a totally different story for the visit and did not mention MB. Only when we discovered the new company registered and put it out there did MB give his explanation. I would imagine both have put in a grain of truth to their story.
The MG said they went to see IOM finance wherass MB said it was to discuss PSC and fiscal terms.
If you put this together in a way that it is a true part of the story and add what we also know but hasn't been said (new company, special permit resubmitted) what do you get.
Possibly a JV with financing to develop Heron underwritten by MG who for their part get oil at a discounted price. Just my thoughts to add to the mix.
Vikinglass, I tend to agree, he had to put out a RNS due to pressure from investors, and that it was a rush job, full of nothing. I believe researchandhold was correct in what he wrote that there could be NDA's in place hence why MB couldn't put much substance in the RNS. Hopefully in the next RNS we will get to know the real reasons behind the IOM meeting and the new company created
I found the newly registered company and other stuff that I put out here, I was thinking that it would hopefully trigger an update / RNS from the company.
There wasn't anything in the RNS that we didn't already know, to me it came across as hastily written to get it out there, they haven't even bothered to put it out on their Twitter feed.
Why is it so difficult for them to keep us informed of what is going on...
To a certain degree this fall in the share price is our fault. That RNS told us absolutely nothing from what we already knew even down to the raptor drill and equipment. The JV part was wishy washy at best because there is nothing yet. And the LP would being passed to MMHI would never have been relayed if we had not pushed on meeting in IoM. If that had not happened we would be waiting for RNS to announce LP when that would finally happen. So now for the next x days or x weeks or whatever it might be we sit and wait. The traders have now got open license to trade this share more than ever knowing it is likely to be very voluble but they will be aware that the LP could come any minute. But i am sure they are well aware of that. I would but FOMO keeps from making that move. It is a question whether you want just a little bit of butter every so often or wait and get the jam and cream the whole enchalada at the end. I am waiting for the whole enchalada at the end.
That is as I see it Ibiza 28.
Safe for now. Good for a chunky profit. Good for 3 to 5 years most likely.
But not a long term keeper for dividends, like Shell or Unilever etc.
Keep an eye on the bigger picture, but a hugely exciting investment right now.
I don't think so. MATD has massive potential and oil and energy is very strategic for any country specially for Mongolia. As we get LP sorted everything would be ok. It was be very interesting the next 3 weeks till we get the spud date and hopefully LP secured by the time
Great posts guys, maybe some people sell up tomorrow here's to another 10% drop no point holding on to these then
I agree totally and that is why it is a get in and get out share with the near future. This is not one i would hold in my long term portfolio, although it might look very good. The reality is the Geo political situation throughout that part of the world makes in vulnerable but not at the moment. Russia will not attempt anything whilst it has its hands full coping with Ukraine and the west and China has Petro China working away probably with a bit of help from back handers. Anyway at the moment there is not much to take over unless you potential. If this becomes another Saudi then i am out of here with a nice profit as soon as i get a reasonable figure and i reckon that could be very quick if Raptor comes through and obviously the LP. GLA
We all know that there has been a huge drive to invite investment from the west.
This includes high level visits to Mongolia, trips to Canada and the UK amongst others and involvement from Macron in France.
For the west, Mongolia is strategic for natural resources as China and Russia are not safe or viable.
The glaring area of concern is that Mongolia is sandwiched between China and Russia! If Mongolia become too successful at supplying the West, then as a country it would be an easy one to swallow up with a population of just 3 million and huge resources. Alternatively, as happened during COVID, the country could effectively be cut off by shutting the borders. This makes Mongolia very vulnerable to geopolitical events, as we are seeing the worlds balance of power firmly shift and divide. Lets hope not in the long run.
For the short term, I think it is reasonably safe. But there is a real risk of this happening if Mongolia became too successful at realising the value from their resources and do all of the hard work in opening them up and starting to extract them.
Maybe you right about Mongol Govt protecting oil supply from China takeover.
Still thinkmit to do with attraction of foreign investor for exploration in multiple New Block which plan to open up.
With Petro Matad / GOM partnership company then foreign investor more happy to be part of this.
Mongol Govt get more foreign investment, PSC & revenue.
Petro Matad get more exposure to exploration asset, security with GOMnas partner & pay with production revenue /JV cash just like mr Mike Buck say
Will find out soon I think but will super charge SP if lijecwe think. All this different people in Isle of Man for VERY good reason so happy to be invested here :)
Come on WOS play the game. Good day on here bouncing back and forth ideas thoughts etc, don't spoil it.
Mr.P the good side to this BB, as I have mentioned none of us know, it's good to throw ideas around of what it could be and we agree/disagree etc etc with no animosity. I tend to disagree ref JV hence why the LP is taking so long. My biggest reason for the JV is the new oil refinery and MG having enough feedstock for it and I think a JV with PM on oil as well as new licences and renewables stops a potential takeover of PM from PC. The same as PC did with Soco in Blocks 19 & 21. Heron has already discovered oil, Velociraptor hasn't, new licences haven't. MG need the oil for the refinery. They can sell to PC up until refinery ready to generate revenues for both PM and MG, but after that they transfer it to the oil refinery. As said my thoughts on it, be happy to hear other thoughts
Ah yes. Forgot about the Sunsteppe Renewables.
Far too much going on here.....LoL
To be out of this one ;-)
My opinion is the new JV assuming that is what it is with the Government is for something completely new. After we are an oil company we have our own oil and we have 100% of Raptor should it come in so why give half away. We appear to be going into an agreement with a partner for Renewables so this is very possibly a branch of that ie a renewable that the other partner does not specialize in. It has been set up now probably because all the main players were in England already or because there is now an urgency to get this done. Otherwise why involve a financier at this stage if it is a little way down the line. I think there is something brewing on this front that might be quite big and might be in near future and by that i mean before summer is out. Also i think it is new after we have the oil and this needs to be kept separate from everything just in case one of the big boys wants to come in and buy this out right if we come up trumps with the Raptor that is. We have heard about Sun and the solar panels so that would be a separate deal this is different maybe something to do with gas maybe something to do with another renewable. Or maybe they just fancied having a meeting at our expense.
Renewable partnership is Sunsteppe Renewables. This different from Petro Matad Energy Ltd which we think will be part of New Block partnership
Agree mr Ojay
Will be NEW BLOCKS I think. Remember some of this bigger then size of Quatar so very big & Mongoliaone of last major on shore frontier for oil exploration
What better partner then Mongol Govt & foreign company will likeceet up as well.
Mongolia is said as potential NEW SAUDI ARABIA' for reason & Petro Matad right in middle if this action :)
Think JV deal was for Renewables only.
Heron Farm Out might have been discussed subject to getting LP done to fast track 15 well development.