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D1nger and everyone who took the time to reply, really appreciate it, and I'm currently looking at the environmental protesters 0_0 Have a good Monday!
J.A.B
Quick summary from memory. Doug McCaig, CEO in 2011 had skill in writing RNS’s releases which whipped shareholders into a frenzy but turns out he wasn’t very good at finding oil. He drilled block XX in the wrong place. Our current CEO Mike Buck has however drilled in the correct place in block XX and found oil. Estimated recoverable of circa 60million barrels. Local access permits and covid border restrictions have delayed planned exploitation of area.
Extensive surveying of blocks IV and V provided Matd with estimates of between 9billion and 23 billion barrels of oil.
Drilling in block IV proved unsuccessful. The exploration licence for block IV has been handed back.
Block V has proven oil and planned drilling of the Velociraptor area has also been delayed due to covid border restrictions.
There is huge potential here, you’ll just need a lot, and I mean a lot of patience.
That’s why a lot of us continue to be invested.
Good luck, whatever you decide.
@jimthebrush. Thanks also €:)
// there will be the usual rampers, de-rampers, Trolls, time wasters, disupters, 'experts' suffering from the Dunning Kruger effect, and people who post mainly to make themselves look good //
Only 2 types om here mate - the rampers & the evil dead!
So will be looking at it with interest.
@Ojay. Appreciate your concern, I'm not diving in deep here but it's still my money!
J/A/B: Well in that case good luck with your dissection and evaluation of the information you get - hope you know what is relevant and helpful to you.
As I said and as you (should) know: You need to do your own research.
Thanks sj74, I will have a look at that. I did wonder why there where so many shares!
PS.... From posters who have some experience and wish to share it €:)
Have a look at this link, gives you a bit of an idea:-
* Exciting times for pretty much all junior explorer type companies in 2011 with alot gaining big market valuations.
*MATD only had just over 100million shares a decade ago, now not far from 1 billion.
*That said, if this company does begin to produce then confidence will begin to increase here, and the money made can go towards new wells without the dilution it has been accustomed too. Not far from a tipping point here? Atb
https://www.proactiveinvestors.co.uk/companies/news/22864/petro-matad-starts-to-make-significant-waves-27263.html
@Ojay, well I'm not so naive that I think I will get loads of good information, there will be the usual rampers, de-rampers, Trolls, time wasters, disupters, 'experts' suffering from the Dunning Kruger effect, and people who post mainly to make themselves look good or feel superior. But within that, I might get some information that is relevant and helpful, will see.
J/A/B:
I'm surprised you would be interested in any information provided to you on this board by a poster who claims it to be relevant to the "valuation" or anything else.
Good luck with that query. DYOR
Hi all, short term holder first time on here poster. I'm hoping I can pick the brains of the long term holders. I've looked at lots of posts here about the current situation, and news reports, RNS on developments etc for the last 2 - 3 months, bit there's a lot to wade through. Looking a long way back, the SP was humongous compared to today. I can't find much in the way of news reports from that time, so long holders, what changed? And was that 'valuation' based on anything that is relevant now? Appreciate any information!! Cheers.
paid not payed, I don't think you meant to say that?
// MB has ordered crew and kit in for just standing around and being payed,//
I don't think you meant to say that? Or maybe you did - hm.
An RNS could land any time now. 10 new government ministerial positions created and put to work immediately, to report back mid September, plus a reshuffle. Activists are not happy! Things appear to be on the move all if a sudden in Mongolia. GLA
Like I said I think September should see things kick off, MB has ordered crew and kit in for just standing around and being payed,
Found this article and it's the last paragraph I find interesting, PC seem to be involved with a lot of new and emerging energy companies, hope we here something soon, not much time left until the drilling season endz.GLA
https://www.naturalgasworld.com/tmk-energy-expands-mongolian-drilling-programme-100579
Time stands still for matad
Let us just hope that Matd have been in touch and know this new bloke and we can get moving. Time will tell but time does not wait around.
Outoing message from YONDON GELEN. MEMBER OF THE GOVERNMENT OF MONGOLIA, MINISTER OF MINING AND HEAVY INDUSTRY
Today /2022.08.30/ My body officially handed over the position of minister of mining and heavy industry.
First of all, to the colleagues of the Ministry of Mining and Heavy Industries, scientists, researchers and thousands of workers in their fields who worked together and supported the development of policies and projects carried out. I would like to express my warm gratitude to all my friends.
We define our industry policy on the principle that natural resource efficiency will reach every citizen as a result of comprehensive measures such as exploration, extraction, processing, sale and distribution, and the creation of Mongolian citizen who owns their wealth made the lel.
To mention the major works implemented with my colleagues in the past period, drafting the initial draft laws on the National Treasure Fund, Mining Products Exchange, Heavy Industry, and the Profit Mineral Law reform, support the oil refinery industry, reaffirm the law on the status of industrial technology park, carbon enrichment, The construction work of copper, iron ore, and petroleum processing plants has been started.
Thus, our sector has moved from mining to processing in its 100-year history and has hit the starting point of making our country an industrialized wealthy country. Once again I would like to express my gratitude to all the officials who dedicated their hard work and efforts to this work.
The newly appointed J. I am confident that Minister Sainkhuugiin Ganbaatar will continue the succession of the state policy and the development of the country's economic pillar sector even higher.
I wish you all the best for the development of our country that your dream work continues smoothly.
With due respect to the deep,
G. Yeongdong
Facebook . That's a good way of getting local info
master82
Where is that article from - please
Petro Matad LLC, operating in the production sharing contract Matad XX field located in the Matad sum area of ??the Eastern province, is aware of its obligations regarding the environment within the framework of corporate social responsibility, shows good exemplary leadership, contributes to social development, and the local economy in which it operates. implements projects and measures aimed at supporting development.
In order to support the improvement of people's living conditions in a healthy environment within the framework of social responsibility, Petro Matad LLC, which provides oil well testing and perforating services, in cooperation with its subcontractor DQ Well Testing Perforating Service Company, organized the burial of the centralized waste point of the Matad Sum Center, on 05.2022 The work was carried out by Geopetro Engineering LLC for a total of 10 days from May 25 to June 5, 2022.
In total, 4.3 ha area was covered, cleaned and burying the garbage area accumulated over many years, organized public cleaning in 8 ha area around the garbage concentration point with the participation of Soum citizens, and monitored the work process with representatives of the ordering company and Soum.
Petro Matad LLC, in cooperation with DQ Well Testing Perforating Service Company, has fully funded the costs related to the execution of the above work, and I would like to emphasize that this funding is a project funded and implemented on a voluntary basis by the company, separate from local development incentives according to PSC.