Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Barclay.. a bit rich coming from you
I agree it is more than time to draw a line under name calling and personal insults.
However comments posted as facts without substance of evidence should begin IN MY OPINION please or robustly challanged. Stating opinion with conviction does not make it a fact.
This will avoid the need to respond, as we are all entitled to our opinion on the little data we have.
The above company was incorporated on the IoM by Crowe Trust on 18th May 2023, company number 020889V. This was as a result of the visit to IoM by MB and reps from Mongolian Gov. To embark upon a jv of this nature does not suggest that the relationship between PM and the Mon Gov is in difficulty- just the reverse. Patience is needed!
Sorry Dozawbba.
Great post Dowbazza. I suggest we filter all posters with personal insults in their posts.
Good post. Yes and lets not start making crazy predictions on timescales we know nothing about!
Also we have NO idea what stage the first SPC (not LP as central govt/cabinet issue i.e not Local government) request was up to, so we DONT KNOW if departments had actually read the submission...
//LP - Think we still get this before V1 spud because all Ministry have already read submission & do not think re-submisdion take longer then couple of week. //
Be good if he can also stick to facts not making up facts!!
The below is NOT fact but his subjective opinion only.
//IOM meeting NOT to just talk about PSC with MRPAM/MMHI/Mongolian Ambassador there all in IOM company incorporation office//
And correcting misrepresentation is not negative.
WOS good with the factual posting of info. Let's keep the BB civil and free of referring to other posters. If someone posts negative post a positive fact back. Let's not get in a tit for that name calling day again.
IMO frustrating as it is at times, I believe everything is falling into place and hopefully we are all going to reap the benefits soon, we have waited long enough. GLA holders
Well said. Everyone here are old enough to make own decision.
Minister of Foreign Affairs meeting with Saudi Govt next few days ;)
Want to have focus on DEVELOPMENT & TIMEFRAME in political situation NOW.
All talk of delay in past when situation different or where CEO live & philosophy all useless for me but other can make investment choice on this (even one who post big complaint but say he sold out long time ago lol)
- V1 Spud mid June (I expect price build for this with lot of derisker already sell on Mon)
- V1 result 8 week (3 week spud + 30 Day drill + 1 week test).
LP - Think we still get this before V1 spud because all Ministry have already read submission & do not think re-submisdion take longer then couple of week. People disagree no problem but logic tell me this.
New Ministry will want to be pert of success & National Importance status for reason. Have NO problem LP given and but if people disagree no problem do not buy. No one force you.
- DQE partnership. RNS say all term agree and think will be release with LP RNS which like I say expect before any V1 drill result
-IOM meeting NOT to just talk about PSC with MRPAM/MMHI/Mongolian Ambassador there all in IOM company incorporation office. Already say have new block & fiscal /PSC agreed. Think NEW JV COMPANY form with Mongol Govt and very very exciting development for Petro Matad growing to major ENERGY COMPANY.
All this come in coming weeks & V1 spud RNS close in mid June. Think almost certain price will start to rise again.
All this so do not care about word of ex holder who talk about Singapore residence or other thing. My focus on development /RNSs coming & company growth.
Happy to hold for all this :)
Dozzawba - like you I can't see any other logical explanation for such a trip. Certainly not the " throw us off the scent" reference to:- " Discussions on changes to the Production Sharing Contract (PSC), on the proposed work programme and on fiscal terms have been completed. This part of the process involved a visit to the UK and to the Isle of Man by representatives of MMHI and MRPAM and we were honoured to be accompanied on the trip to the Isle of Man by the Mongolian Ambassador to the UK. " Then a new co is registered !! Its more like a JV formation with possible new financial backing and at arms length.
WOS - out of interest, in percentage terms how much is MATD of your overall share portfolio? And how much do you think in % terms should someone invest in a company like MATD?
Debt to GDP not bad but can see how much GDP from mining / oil foreign investment sector.
Think all about revenue AND control of energy.
Refinery built for reason & new oil block tenders just beginning. Remember lot if talk about Mongolia as new Saudi Arabia.
Also MASSSIVE potential with Renewable and see all recent meeting with foreign country mention this & China say want to invest direct with export potential from Mongolia to China.
Petro Matad is way of direct involvement / revenue benefit in free market economy.
This why I keep say Petro Matad will transform into multi factor Energy Company and FAST.
This is why I laugh when people talk about fraction penny & sell at 15p. Is there no ey so do it if you want.
Lot of research show me what really is happening here & why I add all time when I can.
Very special thing happening for Petro Matad & shareholders :)
Its a good point master. Incidentally the woman who may become the new governor of Dornod was recently involved in a deal with Rio Tinto involving just this.
Here is my take.
All developing countries get very unattractive rates when they borrow money from IMF. World bank.
This way Mongolians are getting loan through PM at much better rates and will get better returns on money invested in PM compared to them borrowing for their economy via Say IMF.
I think the people they met was to do with finance at IOM meeting. Borrow money from IOM to invest in PM at better rates and in return PM get better rates at PSC.
MONGOLIA NEEDS MONEY AND ARE IN DEBT.
This Way it makes business sense in the long run.
Just a thought.
Agree 100% mr Ninettoes
No way this will happen with all those people in person at incorporation office UNLESS something BIG like incorporation of new JV company.
When I send email last week I tell them we all know about IOM meeting & must tell us.
Think this panic them a bit because they not ready to say so yet & with New Oil Block tender process still live ;)
ir@petromatadgroup.com
Agree mr Master almost certain I think lot more happen with Isle of Man meeting. Some people say mr Mike Buck have to rush out excuse for IOM meeting and think this is right.
I send email to him last week & ask about IOM meeting and now we get what he say in RNS but think NO WAY MRPAM, MMHI & Mongol Ambassador travel there if not to incorporate new JOINT COMPANY.
Make sense for Govt to get PSC AND share of production of new block as partner. Also mr Mike Buck say new block develop with PRODUCTION REVENUE or PARTNERSHIP.
Best thing if partner is MONGOL GOVT and everything fitting into place for major growth of Petro Matad & shareholder value.
People say delay but think process with new ministry will be FAST because all other Ministry opinion have no need for change & will be direct pressure from Mining Ministry. No real change with Ministry document for submission & with V1 drill result mid July (7 week away) PLENTY of time for LP to be given.
I took opportunity to get more share yesterday & think price will start to move back up with V1 spud date RNS coming.
A JV would require negotiations on shares of production and on fiscal terms. If a member of this JV was a director of the new company then his own dept signing off its own special land permit would potentially be a compliance issue.
Surely the MG can do new block negotiations in MG and do they have a photoshoot for every agreement. In the great scheme of things Petro Matad is not big enough to attract all these dignitaries to the IOM. This was something that benefits Mongolia as well. I'm still convinced also that there is more to this.
I think theres more to it. AMBASSADOR going to IOM is one thing . Why Mrpam and oil minister going there is beyond me.
Then another company being registered.
They didn't mention PM due to market sensitivity i suppose
To be clear, we don’t know that is what’s happening.
Partnership between Petro Matad & Govt of Mongolia can only be GOOD thing for company & shareholder value.
Giant ENERGY COMPANY in the making :)
Researchandhold, I think your post of 06:56 is bang on. Personally I thought the RNS seemed to be a rush job, not a normal full operational update as per Bucks normal RNS's. I think he has to put it out due to the IOM news coming out. I think he had to inform the market, I think we were only told as much about that meeting as he could, due to as you say NDA's in place. It does seem strange that Petro Matad were not mentioned in the photo shoot, but as said I think you are bang on in what you say and why the LP has been passed over to another ministry.
I have always thought that the MG needs to protect the oil and keep it out of the hands of Petro China. A JV with PM will safeguard that.
LP will be here soon. No issues there.
Renewables will be highly attractive with 90% Tax breaks in first 3 years.
Velociraptor-1 on track. Huge prize with 200MMBO recoverable. If we hit sweet spot here also just like Heron-1 then other raptors come into play with another 400Mmbo plus recoverable. Looking at potentially 600MMBO recoverable.
Great buying opportunity for anyone looking to get in for the MASSIVE upside here.
IMHO, DYOR
The golden thread sounds superb, but the reality is this is a non profit generating business and sadly has been for many, many years.
You can find all the oil you want, but if you can't extract it, it's useless. 20 years of revenue....we all know its going "green" energy, hence the new subsidiary and last time I looked, no wind or hydrofarms in place there.
This is a classic, we drill, we dust, we raise and we repeat. What happened to Snowlepord?
I'm personally invested here, but bailing long before the same spank repeats.