The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Guys who kept saying MATD has all the permit!
They still need local permit! FACT.
enjoy the next fall now.
That is THE RNS everybody was expecting!
Oh dear!
Rampers still defending MB /MATD?
guys,
Land access law and Chinas COVID-19 border policy both outside MATDs power... stop blaming the company fir things they cannit possibly control!
Negotiations are well in advance for WHEN the above ussues are resolved. Legislation has been drafted to resolve land access issues. Constitutional matters inc. changes in legislation are traditionalky announced during the state Nadaam which this year is between 11th -13th July.
How can a company spend that sort of money for doing nothing .
$5.3 mil for doing absolutely nothing.
Mike must be bad luck for Matd as nothing has gone right since he has taken over.
At least doing nothing for 12 months only cost 2 million . That’s why he can’t afford to retire yet lol
Mike Buck, CEO of Petro Matad, said:
"2021 was a pivotal year for Petro Matad as we obtained the Exploitation Licence for Block XX, which will see the Company transition from explorer to active producer.
In the spring and summer months of this year, Covid-19 has continued to affect operations with China's zero Covid-19 policy slowing progress with contractors and all cross-border business. Similarly, the land access issue within Mongolia needs to be resolved before we mobilise to site and we are pursuing all avenues available to remedy this..
We continue the preparations for our 2022 work programme despite the bureaucratic delays, and our negotiations with infrastructure service providers are progressing. As we have said before, we are prioritising bringing Heron 1 into production and we are still targeting first oil this year.
Finally, I would again like to thank our loyal shareholders for their support during 2021 and into this year. I look forward to updating you in the coming months with our progress."
Thinking about any explotation license or activities is NOT welcome.
While oil has been sitting there for 3 years! Any penny spending is sin.
MB/MATD should really get themselves together and get the oil out this year regardless of costs. Pay premium/ double but get the oil out period. I know is wishful but I hope we get a serious good news soon not again stupid advance talking nonsense from MB. It would be total joke if he keeps bringing excuses or ongoing negotiations. If he does then either he is fool or playing fool.
Guys enjoy the night and all the best to all,
It's not the comments, it's people selling £220s worth of shares that's dragging on its tail end pulling it down, there's still 5 months left to hopefully get the workover done and maybe drilling at least one more at the Heron discovery, also wondering if the raptor trends going to be put off till next year now and if so it would have to be drilled at the very start of 2023s drilling season. I think the permits run out middle of the year so if not a duster, they need the time for the exploitation license to be granted which should be a lot quicker than the last 1 but 1st things 1st we need to know what the next plan of action is going to look like if there is going to be one?? GLA
But I am almost 99% sure that we are going to be disappointed again. With old chatter about great work (especially when it was done remotely and simultaneously with his pleasant travels lol). Or his advance talkings with PC and others, not saying about usual nonsense how fine everything is going to be this time next year. And if this happens again then I am afraid that this company from the very beginning was created by its founders precisely for fraudulent purposes. In order to milk the naive investors as long as possible, who reasonably believed that there huge oil reserves in Mongolian Gobi which one day could be discovered and bring investors good return.
Again - if anyone thinks that the comments here by a few regular poster have any effect whatsoever on the share price - think again!
Agreed Ojay. I despise the bickering that goes on here especially as we all want to see Matd do well.
We all want answers as to why it is taking so long and most of us can reasonably accept that COVID and the subsequent border restrictions have been THE major hindrance in our advancing the planned work programme.
Unfortunately, even although we are guaranteed an RNS release this week, there will be more questions forthcoming and more board bickering as a result.
Have a great week and hope that Mike and Matd blow us out of the water with a brilliant RNS release.
Early Q2 long gone. End of Q2 now!
No schedule of work! No a 2 week workover!
No plan b/ another contractors!
No clear location of MB yet!
Guys, do you think this year activities should be written off?
Any more placing should be expected?
Spot on Ojay - it's not about "told you so" and all that stuff. Surely everybody on here wants good news and an increase in the SP. If there are any out there who would rather be saying told you so and not an increase in SP then if they are invested they are either stupid or wanting to buy more to get their average down
Take it easy b/p: This is not about being right or wrong. I wish all posters would finally understand that.
This is soley about PM moving forward and thereby (hopefully) achieving an increase of its SP value.
As I mentioned before: The business case is "formidable".
All on edge for tomorrow's RNS? Am I right, I'm not wrong!
I have just thought that there will probably need to be another raise because of the rate of inflation unless the rate of inflation in Mongolia or china is far less than it seems to be every where else in the world. The £12m we have in the bank will now not be worth anything like £12m so unless we can exploit the oil quickly and use that money then i fear another round of pass the cap will be going on shortly. Do not want to put a downer on it but this inflation is a rapid rise and out of the ordinary.
whaddya mean "issues" - can you explain or are you just venting gas?
Either some of you are in too deep ... or have "issues
.... I was referring to certain derampers
"Why does China want Matad oil at Brent Crude prices ? "
Because China won't want to be held to ransom by relying on one supplier. The war and sanctions won't last forever and neither will Putin. Also Mongolia needs oil itself. It's a long game and peoole need to look further than their nose.
No issues but I believe after quite a few years holding then feeling a bit disgruntled and expressing an opinion which is what this chat board is for, with what has been happening globally and not our fault I seriously believe I have every right to explain how disappointed I feel now and again, yes I might be a little under water but still doesn't change the fact and I understand were people are coming from with there 2z and 1nz because that's how it feels sometimes and also still doesn't change the fact that I have been waiting for Velociraptor to be drilled and will continue hold until that day arrives and not until then will I make the decision to stick or twist which has always been my plan, hope we get some good news soon and then either way we will know where we stand. GLA rant over :-))
Why does China want Matad oil at Brent Crude prices ?
https://www.bbc.co.uk/news/business-61861849
Oilf.
Either some of you are in too deep ... or have "issues"