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I don't understand why PM just doesn't take legal action and look into getting refund back from the government for this situation.
It's like you look for oil with your money and we will confiscate the land once you find it.
What a joke.
Legal action should be taken here for wasting company resources and time. Compensation should be given to PM as this is not really PMs problem that the government can't control the land which they allocated to PM at a cost.
Jimi - not sure I understand your post. Please explain. Thank you
This from your post master82THE REPRESENTATIVES ARE EXPRESSING THEIR OPINIONS Description G. Boldbaatar, representative of the 7th team of Kherlen sum: I would like to remove the discussion about land acquisition of the 20th plot of Petro Matad LLC for special needs of the state
https://fb.watch/g_V9lMUfDk/
Found this on Facebook . Not sure if they are in favour or against PM
Mulin should have been disappointed with lack of RNS.
HE has been always the first one announcing RNS.
Indeed Ojay! I truly hope that Ibiza is right as well, we all do!
Hopefully it is a case of when, and not if ..
The biggest worry I think right now is if we have enough money left to keep on waiting well into next year if need be.
Not sure about that until we get another RNS stating so of course ...
No option but to try and keep the faith in the mean time.
GLA.
Ibiza: You know what? Your summary of the current situation makes a hell of a lot of sense and I truly hope you're right.
However, it's ultimately just an opinion which is unfortunately not backed up by facts. Let's hope those facts roll in quickly.
The people of Mongolia may not want drilling on their land. No one wants drilling on their land but they are really going to have very little say in this. Mongolia has a GDP of $15.1Bn they are planning to build and have indeed by all accounts ordered and signed off on a Refinery costing $1.3bn That is almost 10% of their GDP that is one hell of a large commitment and the government is going to have force this Special Permit through otherwise the country is massively going default on its payments to India for the refinery. Also as much as they would like to wait for the refinery to be built they before drilling for oil they will need the oil to pay the bills because the Mongolian tax payer is not going to foot this and i doubt the International Development Bank or the IMF or European Bank are going to lend this size of money in a rush.
Be patient folks does it matter if we drill this year this permit will come through it has to be taken out of the hands of the locals and the local government. A bit like a compulsory purchase scheme as would happen over here. When this comes i hope the people on here are right in it coming shortly this share will be close to a double digit multiple of this price in no time. Then if Velociraptor comes off then watch for blast off because getting any shares at that point will be like gold dust.
Yes the lack of news is annoying I do not think this necessarily MB lying to us rather the fact that MB had been given assurances and misled by the GOM case because i do think even the government was not aware of these land issues till recently that is why they are meeting to try and find their way around it.
The annoying bit is they all seem to convene to discuss the changes, have very possibly decided on changes, and then realize the all important big wig is not their to sign off on it so they all have to re convene so that the Big Mongolian chief can sign off on it all. Here is hoping, but i am not buying any more for the moment but if this drops below a penny i may throw in another few hundred in and see what happens.
Adilla: Agree - prudent strategy.
BTW: You do't fit into my definition of "chicken" let alone spit roasted dead duck.
ATB
Lambo222 what are you talking about.
You have zero idea clearly as we don't need to "drill" any wells to put Heron on production. We can potentially still put the well on production this year but if not and the permits are issued we will be able to get going in late Feb early March not "six months" as you say.
The main issue is the government needs to sort the issue of access, they have indicated this is being done at a high level (confirmed by the UK ambassadors comments that they are aware of the situation)
Don't sell your shares to these sharks . They are simply trying to buy cheap shares when they know the upside is many thousand percent in days or weeks or a few months.
Nice try though, I'll keep buying , currently approaching MB's holding level and happy to keep buying as many as I can. With a view to 10p on access news and 50p on velocoraptor success.
Looking forward to watching the derampers crying with their 10 shares whilst we celebrate the billions of dollars of oil we have, being refined in Mongolia. A win win.
Cheers
Ojay, the way I see it. If the SPC comes in the share price will shoot up. I have an alert ready for news. This means of course I won't catch the bottom price, but I do know that I will get in low enough to make a profit, as such news will be game changing. The share price may even rich that mythical 50p projection. I can also sleep easier whilst waiting.
I don't know if that makes me a chicken but if so, that's fine with me. I prefer to be a live chicken than a spit roasted dead duck.
Well Adillathehun: The market obviously says we are facing a "wipe out". So what do you want to do now - follow the trend or move against it?
Investing - particularly on AIM - is tricky and you've got to be prepared to make a loss (or a huge win).
That's why I keep referring to the "chickens".
The Mongolians don’t want any oil drilling to take place on their land that’s the issue, it’s like in the UK when there is opposition to fracking local councils have final say and this is what has happened to matd, the local government has rejected the land permit application time and time again, and the government don’t want to go against that decision it seems so MB needs to be honest and maybe cut their losses from Mongolia and start someone else to try rescue this company, sub 1p it’s worth a punt as they have $5m cash to maybe buy some new licenses in a different country and start again
Is what it is, feels like being held to ransom. 50% down now, not good but all one can do is live in hope. GLA
The only time to buy here is when MB reveals the truth via rns that no drilling is now possible for at least 6 months due to the weather and they are no closer to getting a Land Permit, obviously if the permit is refused then MATD have nothing at all, maybe worth a buy when it falls sub 1p but not at these levels
Some guys are deaf here to believe that silence from MBis justified.
Guys, always bad news comes late and good news is fast!
No news is very very ugly news here. Waiting for a big crash.
Hope I am wrong.
I would rather buy back in at 10p with the SPC in place, than buy back in now, when we could face wipe out.
Positivevibes: Right on!
One thing seems to be clear (since a couple of days): The chickens are leading the way. So whoever wants to follow the chicken run - be my guest.
I am looking forward to the next RNS as I'm expecting the Special Purpose Certification from the relevant ministery.
We get a couple of hard core posters spouting doom, gloom & illegal activities and whatever else they may come up with but we all know why they're really here.
They wouldn't be posting exclusively on the MATD board (and no where else) if they didnt know that the share has the potential to push a massive multiple on the current price level.
As they try to convince others to sell they'll be positioning themselves to jump in.
Great post Ostraliamate on Mon 10:55
Bear in mind we ALREADY have the oil which massively derisks the investment.
The local committee aren't the avenue being (seriously) pursued by the Petro Matad as some want to focus on. The main drive is via the Ministry as per the header with which the company are well placed.
You may want to look at the 2023 State Budget of Mongolia to understand how much it needs the additional revenue provided by companies like MATD and others. The Ministeries will be aware of this.
Forget the truly silly comments re: Mike Buck supposedly trying to fleece people which the more s*lly posters here are trying to promote.
As the header expect tones on the Special Certification shortly which no doubt will catch a lot of people out. That's the key news and not whether Heron is actually worked over this year or next.
The oil isn't going anywhere in the meantime so less of the hysterics, lol
You'll notice a lot of the intraday dips are being brought into by those not so easily influenced by the hardcore nutty brigade.
What I don't understand is why not get the LP sorted while they were waiting fro EL.
blind leading the partially sighted. B
We probably know more on how to run a business than this plonker who has failed in all departments.
I think it will most likely be "We are still applying for a LP to be granted" .... So nothing new there.
That's if we do actually hear anything soon. 2023 will be when we have a much clearer picture by the looks of it.
Keep our fingers crossed and hope for the best though.
GLA
Yep Mike is on over $350k a year, disgraceful, huge drop on the way here when the truth comes out
I’m not excited, modest wages. Where do we found out what the wage bill is? Was it in last years books?
The wait is mind numbingly boring... but with all the Covid news is China I'm not particularly looking forward to news RNS