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“Following on DOZs point , imo there is no point in MB drilling Velicoraptor unless the Mongolian can absolutely guarantee LP , if there isn’t a guarantee drilling would be a complete waste of time and money .GLA“
I’d also like to think that MB had been given a positive nod on the LP before we started helping the locals out with their recent wildfires, given that we have already provided financial assistance for a number of other things previously, all without having any success.
If that is the case then we should see LP in a week or 2 but certainly before spud.
it really make sense that they have already seen it and that is why they are aware of it and they wanted to have say too.
Ah. I see. So all ministries have seen it. Just that Ministry of Construction and Urban development wants to submit it.
That should be pretty swift then.
Manxkippers.
Think you summarised it eloquently. Nice one.
I'm sure the ministry has contacted buck to tell him about the delay and apologies, they just likely said we will get this done asap and timeframe given, but buck won't be holding in to this and won't tell us incase time slips,
Fingers crossed this gets done sooner then some of us here expect it,
I'm confident we should get LP week after velociraptor spud latest, I also believe the paper work was circulated atleast a week ago,
YES mr Master I see that & post it but think lot if people did miss it ;)
With other people who question every little thing and cannot do anything I take every little thing & put in big picture and BUY.
Everyine make own decision & do whatvuiu want. I am very confident for my investment & LP before V1 result with all thing happening :)
"On the Block V Exploration PSC area, local government approvals for land access have been secured. This area does not have the same history with the oil industry that Dornod Province has and as such, just as in previous years, thanks to its continued focus on positively engaging with local communities, Petro Matad has been able to secure all necessary permits to work on the land covering the highly prospective Raptor Trend and the Velociraptor prospect"
Following on DOZs point , imo there is no point in MB drilling Velicoraptor unless the Mongolian can absolutely guarantee LP , if there isn’t a guarantee drilling would be a complete waste of time and money .GLA
Wasnt it agreed this referred to the pipeline land access issue?
//Opinions were gathered on the draft of the government's resolution on the acquisition of the land "along the direction of the oil pipeline" for special use by the state and submitted to the State Government.//
Yesterday they seemed hyper focussed on land use issues for a K Pop festival for Naadam. (jeez!!!)
"Opinions were gathered on the draft of the government's resolution on the acquisition of the land "along the direction of the oil pipeline" for special use by the state and submitted to the State Government."
This part is interesting as the pipeline is from PC facilities to the new refinery .
May be PM was discussed too
Has anyone read the article on emergency meeting held few days back.
THE MINISTER HAS BEEN URGENT
The regular urgent meeting of the Minister of Construction and Urban Development was held on /22.05.2023/. At the beginning of the meeting, the Ministry's departments, affiliated organizations and project units presented the information on the work carried out in the past 14 days. The main activities of the past period include:
Preparations for the document "General development plan for the development of the capital city Ulaanbaatar until 2040" have been intensified to be discussed at the Cabinet meeting and submitted to the State Great Khural.
The working group of the "Selbe revitalization" project met and finalized the direction of the 6-lane road for cars and public transport, 42.6 km long road for pedestrians and cyclists along the Selbe River, and carried out aerial photography, field measurements and research on a 500 m wide strip. A topographical background map was received at a scale of 1:500. Also, hydrometric measurements were taken 24 hours a day at 13 crossings of the Selbe River, and river bed and coastal sediment samples were taken at 93 locations, and the engineer is carrying out geological research.
The technical safety of the newly assembled elevators and escalators was verified, and 16 official requirements and 7 conclusions with 128 provisions were delivered to citizens and enterprises.
The cleaning technology of the countries leading in the cleaning technology of treatment facilities was studied, and the suitable technologies for Mongolia were presented.
The tender financial proposal for the project "Construction of Rainbow 1 and 2 housing estates" was opened and the evaluation report was submitted to the Export-Import Bank of Korea for review.
Opinions were gathered on the draft of the government's resolution on the acquisition of the land "along the direction of the oil pipeline" for special use by the state and submitted to the State Government.
The concept of the resolution of the Parliament on the acquisition of some land for special needs of the state for the purpose of ensuring defense and security is being developed and preparations are being made.
The management of the units informed that the planned works are being carried out according to the schedule for the project units.
Minister Ts. Davaasuren gave the following responsibilities as part of the tasks presented in the quick session, as well as measures to be taken into consideration in the future. It includes:
✅ To finalize the "General Plan for the Development of Ulaanbaatar until 2040", warn about the delay in obtaining consulting services, and speed up the processing of this document;
✅ Intensification of the work related to the transfer of mortgage loan financing to the Government;
✅ Accelerate the cooperation agreement with the European Bank for Reconst
Ok let's "hope" its just a simple resubmission and that all responses are ready. Fingers crossed and all that...
I don't think its a step too far at all. We know the relevent ministries have seen it otherwise one of them could not have insisted that they put it forward imstead.
MB says "is being" and "has been" in the same April RNS... so who really knows. However to ASSUME that all departments have read, all due diligence etc has taken place and responses are ready really is taking it a step too far ... except other than we all can hope
I agree Dozz and I believe once the Special Land Use issue has been submitted by an independent ministry the JV will then be announced.
Curious seriously are you for real? RNS from 3 April states clearly paper work circulated, and last RNS says it was all completed but has to be resubmitted
Personally imo i think since the first submission of the request for the special certificate happened, everything has changed. MMHI and MRPAM have imo realised that due to the massive increase of oil required by China that they have to now protect their own oil, as well taking into account the new oil refinery. What a total catastrophe it would be for the MG if PC took over PM and shipped all the oil to China and there was no oil to fulfill the new Oil Refinery. I believe as said imo that the new agreement which is a JV between PM and MG safeguards the oil hence why they have also revised the PSA's.
Ref the LP who knows when it will be here, but i believe it will and as previously said i cannot believe MB would go ahead with Velociraptor spud if he wasn't guaranteed the LP for Heron.
Thanks for your reply max. I am sure MB has been as disappointed if not more as we are.
surly MB wants LP again as much if not more as we shareholders.
for all reasons I am sitting tight and holding my valuable shares.
I am still very positive to get LP hoping before spud.
Yes. PetroMatad have strengthened their relationship further with MG with the new company being incorporated.
I am not sure why Ministry of Construction and Urban development was not included first time around. Guess they just want to air their importance by being the ones also involved in this historic moment before Oil production starts from Heron oil field for coming decades.
Great post Manx.
Paperwork completed yes but that DOES NOT MEAN it was distributed, all have read and due diligence issues settled.
Good morning, Hamm.
I don't share your view of MB. I feel he is hugely disappointed himself, but this is virgin territory for the MG and there is a degree of making it up as they go along.
MB has to keep himself and our company clean and ingratiate with all parties that are brought to the table as the MG muddle through this process.
MB has met many people, invested a lot of time in learning the corridors of power, how it works, who to talk to and how, in a very under developed and slightly simple land. This intellectual property and built up trust can not be under valued when all are so nervous and new.
A hard approach would most likely have closed many doors and our company would have failed easily. However, we seem to be the trusted western company that helps and that they wish to give preferential access to. This, though, can not be seen to be illegal or benefit PM over others during any issuance of LP or newly tendered blocks.
I see this all as hugely valuable and time will tell if our closeness will deliver the prizes we are wanting. I believe the LP is only weeks away with due process.
The rest smells good and is worth a punt.
Good post Hamm
But did MB actually say. "MATD is the first oil company getting permission to extract oil and for that reason the process is new to MG" ??
I think the process MB is referring to as 1st/ new is the special purpose certification for the oil field in order to override the land access issue (rather than oil extraction per se).
This land access issue seems to be unique to block XX as far as I can work out.
Curious lol read RNS it's says the paper work was completed but...
Badprofit banned I reckon for his disruptive behaviour, looks like admin are looking into these guys now