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Keep holding tight.
Classic drop from the MM'S in the last few weeks while those in the know filled up..
Nearly there !
Massive, massive potential.
4p smashed end of today
5p smashed next week
15p smashed next month once we go into production
We are going to be an oil producer. Let that sink in. All other sign off's will come in time....but they will come.
Yes they can do work... but not produce till all settled...lets see
Growmorecash : read it again ;
" the company has engaged with the District authorities to secure local level approval of LAND USAGE.'
Which part of LAND USAGE don't you understand ?
If you take it on a negative note all it says is:
We had another meeting
We all agreed We will sign soon.
But maybe somebody comes up with a reason not to
Nothing new?
As of right now they've been given approval to commence work on Heron 1.
I don't think that was the case earlier in the week, so in what way 'not new' Manro?
The Local appear to be 'on side' and papers are being drawn up for signatures.
Local Governor intervention might happen but Petro Matad are being 'vigilante' and are being backed by the UK Government and its representatives at the highest level.
And as we have seen previously the Legal System is more than happy to force this particular Local Governor to back off when he oversteps the mark.
Tick Tock.
Happier to be in Petro Matad then at any time for many years (except for straight after the Heron well success all those years ago).
They represent the Local Communitee
On the fb link, can someone add a comment in mongolian stating
petrovis is the main shareholder of Petro matad and is Mongolian and the oil will be used for domestic purposes at the refinery
In order to counter some of the bs and misinformation being written on that fb post?
My read on this is that Heron drilling can go ahead without that provincial governor sign off of the state special purpose land designation agreement ..
I also expect he'll be pushed into signing off soon too .. and in the interim he'll not try and block Operational progress at Heron.. which Matd.l will be bashing on with from soon forward on, whatever
ps : If this s/p can get to/stay 4p area off the back of todays RNS .. then that's a strong base for a good further rally on Provincial Governor state special purpose land sign off too ( versus an all in one go rally from 2.9 p ish today )
What's it say Master ??
"Second RNS on it way"
Why? What's it going to say that the first one hasn't?
What does this says . IS PM misleading us all.
Today, on 28-02-2024, the Matad Sum Assembly Council approved the granting of the land requested by PetroMat LLC regarding land management issues. 16 representatives participated in the meeting and 14 representatives voted in favor and 2 representatives refused. PetroMatad, a foreign-invested company registered abroad, was fully granted the right to receive the wealth of Matad‼ Mongolia‼.
Land Access has been approved...but not Land USE ! Fat lot of good that is...ya can look at it but ya can't do anything with it. Hmmm.
I maintain this is overall a negative RNS. And what best time to release one of those... Friday afternoon.
I'll be a happy man to be proven wrong.
Again, nothing new and significant except the usual empty promises. I am sure that this whole disgusting circus will not stop this year and will continue. The only thing that could really put an end to all this Mongolian clownery is to make it known to the world through the mass-media and disgrace all the organizers and its participants, starting from the company management to corrupt officials at all levels.
· The Company has had its application for land access for 2024 operations approved by the Matad District Committee. A land use agreement is now being prepared which, once signed, will allow 2024 operations to go ahead commencing with completion operations on the Heron 1 well.
Although badly written after reading it several times I think it seems very positive and I think the share after consideration will continue its move upwards
Rns is clear to me: small step forward as they most likely can start preparatory work done while hoping to get signatures.
Sp reacted more then enough to this "good news" .
I am out again. Over 25% return in few days enough for me.
Will get back in if below 3 again. Or not cheers and thanks for the pump and dump guys
Thornogson - I wonder what power the Provincial Governor (who clearly has no time for MATD) to block the local authority and its processes? And, will the local authority be able to "prepare" the paperwork quicker than all other previous paperwork!?
Https://www.facebook.com/share/p/aCSBVt6nP8RGf5av/
Second RNS on it way
Just to correct my last post - they have secured local level land usage, however the governor is still holding back on signing the tripartite special purpose document. He has been a total t**t throughout all this.
Anyway, we are in a far better position than was apparent before this RNS - the land usage approval is a massive step forward.
My word, that was an enjoyable trade.
As I said yesterday, buy around the 2.70 price and nice exit again today.
And special mention to our Ambassador to Mongolia.
I might send her some chocolates or at least a 'Thank you' email.
i've also read and reread.
if memory serves me, pm went for special purpose certification because they didn't have local agreement. so hopefully now that they have local level agreement heron at least can start operating. with the caveat that the governor doesn't try and pull some trick. what a ****.
They announced some time back that due to ongoing delays and uncertainties with the Special Pursose Land certification they were going to start negotiating in parallel at a local level to obtain land access through local juristictions.
This they have achieved.
Local permission has been voted through and the necessary papers/permits are being drawn up to be signed to make this a legally binding commitment.
Petro Matad's work and engagement at a local level has been rewarded.
The 'only' fly on the ointment is if the Local Governor tries to block or obstruct due process so it's not 100% but the company are quite rightly proceeding on the basis that this will all go through smoothly and Heron makeover will happen in short order once the Spring/Summer starts.
Let's hope so.
In due course the Governor may sign the Tripartite agreement that he had previously committed to.
At this point matters will be dictated solely by Central Government and the local Governor will be powerless to object.
Three steps forward and two steps back but as we stand we've crossed the line and Heron 1 is a goer!