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Got the same. Seems some sort of automatic reply.
The situation isn't promising!
Any descent CEO would react to all rumours.
Received a reply from British embassy :-
"Thank you for your message. I am aware of the issues PetroMatad have had in Mongolia and have been in regular contact with PetroMatad senior management throughout my time here. I have raised concerns a number of times with the Mongolian authorities, including recently, regarding the various problems PetroMatad have faced and the impact this has had on their ability to move ahead with their project. We will continue to support PetroMatad where we can.
Yours sincerely,
Philip Malone
British Bulls sez "Stay Short"! With nothing likely to happen till next summer (if then) I can see this sub 1p.
I too have emailed the British Consulate , stressing that as is almost universally the case in any other jurisdiction the body that issues the Exploitation Licence ie Central Goverment cannot be held to ransome by the local interests if they wish to attract investment and consequently benefit from the employment & taxes gnerated. Otherwise what is the point of the Exploitation Licence
Ost I sincerely hope you are right, but hypothetically if it all went bump and we lost everything, obviously I would be totally gutted, but even worse if I had sat there not being happy with what was going on at the time and did nothing then I would feel a hell of a lot worse, but as said hopefully you are correct Ost. ATB it works out for us all
Thanks Dozzawba, I have just sent my letters too.
Only complete idiots having significant investments in PM can just sit and wait presenting their idiocy as patience.
Likewise Doz, but I don't draw any parallel between allegations of corruption and other issues by a Chinese company in reference to MATD. Our majority shareholder is a Mongolian company held in high regard in country.
I think caution is required interfering in sensitive political issues which are, in my mind, being very well navigated by the company and the relevant ministry.
The point is the government needs to fix these issues at a federal level or next time on Velocoraptor 1 we are going to have the same issue. The resolution takes time and compromise. No one can get to our oil and I am still firmly of the view that our local access issues, the one last step in this long winded process will be resolved before the end of the year.
Best.
Ost
Great post Doz.
Many many thanks.
Ostra, I respect your pov but when you read about the corruption with regards PetroChina - paying no tax - not keeping to the environmental rules regards drilling for oil, how have they got away with it. Who's pockets have they been lining. From my personal POV I am not going to sit back and not do anything. How many of these corrupt people in power see their next payday being Petro Matad's discovery. By making people aware of our concerns is not a bad thing and doing it via the British Ambassador who has a route to these people is I believe the way to go.
PM and MB have made mistakes - I believe naively regards not sorting land issues pre exploration, but to then alienate the local government was a step too far.
All we are trying to do is look after and protect our investments and if it means.questions being asked of people in the GOM then so be it. The more people in power who are aware of the situation the better. If they are currently looking into great, but an extra polite nudge from BA all the better. Even better as not sure if you noticed that in the last couple of weeks the BA and UK Trade Envoy have met with the Mongolian Trade Envoy Regards UK Investment in Mongolian, slipping in a comment about the problems PM are having won't do any harm will it.
Commercial.Mongolia@fco.gov.uk
Consular.Mongolia@fco.gov.uk
I personally would not email anyone, let the company do the work through the CORRECT channels as they clearly have been as evidenced by the response shared from the embassy.
The Mongolian government doesn't care that you have shares in a AIM company they just want to consult their people amd find a fair amd reasonable way to share the wealth that will be generated by exploiting the oil in our project and beyond.
They are changing their policies and processes to adapt to a more stable and investment friendly framework as disclosed.
Personally I don't think poking the bear is wise or required.
DYOR.
Cheers
Mongolia is known for corruption. Its poor and majority of poor countries are corrupt.
Perfectly suited for MB who can just make excuses
Nobody askes anyone to sell or buy! But if you are a shareholder please kindly email, tweet etc to support the company MATD. That would help enormously MATD/MB regardless of their efforts.
Thanks again
Says it all really.
Mike and the board haven't been sitting in the pool having a beer.
Thank you for your message. I am aware of the issues PetroMatad have had in Mongolia and have been in regular contact with PetroMatad senior management throughout my time here. I have raised concerns a number of times with the Mongolian authorities, including recently, regarding the various problems PetroMatad have faced and the impact this has had on their ability to move ahead with their project. We will continue to support PetroMatad where we can.
Don't be fooled into selling your shares cheap to wolves in sheep's clothing. News coming
Sorry put F.A.O Philip Malone
This is the main email address for the British Embassy
Enquiries.Mongolia@fcdo.gov.uk
As The-Lockie said below , I too would like any contact details and emails anyone can kindly share as I think we all need to hit everyone hard on this issue
I don't have much time to search emails, contact details etc etc but if someone already has this info, happy to share it, then i'm happy to bash out a few emails expressing my concerns etc etc. Thanks
Please be supportive and have an active attitude by emailing, tweeting etc.
Don't be bystanders!
Thanks Dozzawba and Hamm,
I am also preparing to send 3 letters to: the British Embassy, Mongolian Government and Parliament, and to the Mongolian British Chamber of Commerce.
I hope that many other investors should do the same, and not sit or wait like sheep until to be shorned.
Is it just me or is not this slightly encouraging. They, the mongolian government, recognise they have a problem that is partly if not largely of their own making, I think, in time they will get this resoloved because it is not just us but the whole of their econcomy going forward. Fingers crossed.
Dear Philip Malone,
I have invested in MATD for nearly 10 years. After years of explorations and spending millions of pounds finally MATD found oil nearly 3 years ago. However since then MATD has been waiting to get local permit and still waiting!
I am very concerned about my investment and there are lots of British investors who they have the same concerns. Please could you investigate to see if you may facilitate the process.
Regards,
Twitter link to the Mongolian MP if anybody interested
https://twitter.com/Enkhbayar_bat/status/1589619913085583360?t=bXFKjnDwxnCKcvE17neLCQ&s=19
Another post from the same MP. Looks as though there are a lot of discussions going on in parliament ref land issues at the moment.
The researchers came to the conclusion that the distortion was caused by the Land Law, which puts the land into circulation with the content of a legally incorrect right called the RIGHT TO OWNER. Because of this, our citizens mistakenly thought that they had the "right to own" and became the owners of the land, and a hidden economy was created.
Thanks Doz, hope other shareholders follow you.