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'LONDON, 19 December 2023: Petro Matad Limited, the AIM quoted Mongolian oil company, provides the following operational update.'
LONDON, 19 December 2023: Petro Matad Limited, the AIM quoted Mongolian oil company, provides the following operational update
Rather use this above from PM's official RNS
No it isn't! Read the LSE header!
Petro Matad plc, a notable British firm, specialises in oil and gas exploration and development, with a focus on Mongolia
Petromatad is a Mongolian company, simple.
The Speaker of the Great Khural of Mongolia G. Zandanshatar today /2024.02.19/ gave information to journalists about the regulation of land use and ownership by foreign citizens and enterprises, as well as the organization of public hearings.
B. Enkh-Amgalan, Chairman of the Standing Committee on Security and Foreign Policy of the State Parliament, D. Tsogtbaatar, Chairman of the Standing Committee on Justice, B. Battumor, Chairman of the Standing Committee on Ethics and Disciplinary Responsibility, E. Chairman of the Standing Committee on Innovation and Electronic Policy, attended the press conference. Batshugar and others participated.
At the beginning of the news, the Speaker of the State Great Khural said that although it is spring, the situation of snow and rain is severe throughout Mongolia, so it is necessary to pay special attention to overcome dangers and risks with minimal loss. Although cattle are the property of herdsmen, they are a guarantee of Mongolia's wealth and independence, so he appealed to all Mongolians to join the "Reflection of the Soul" campaign, which was launched by a non-governmental organization to support the herdsmen.

N. Nomun-Erdene, a citizen of Mongolia, published a public petition on the topic of "Canceling the use and ownership of land by foreigners for 100 years" in the "D-Petition" electronic system of the Parliament. As of February 19, 2024, or within 17 days, 100,252 citizens supported it. signed, according to the Law on the Rules of Session of the Great Khural of Mongolia, this proposal made within the framework of the right of citizens to govern, is arranged to be discussed and forwarded to the relevant institutions. Therefore, the Chairman of the State Great Khural G. Zandanshatar emphasized that when the Parliament drafted a law to repeal the relevant provisions of the Investment Law and discussed it with the Council under the Chairman of the Parliament, all the heads of the Standing Committees supported it.
Also, this draft law has been sent to the Government for opinions, and it has been announced that preparations will be made to discuss it in the regular spring session of the Great Khural of Mongolia.
In addition, the implementation of the Land Law is unclear. He said that the people cannot own 0.07 hectares of land equally and fairly, and that the implementation of the law is not enough. Also, conduct inspections on the implementation of laws and regulations on land and minerals, granting land permits, calculating the percentage of mineral resource royalties, charging, reporting, and paying to the budget, making suggestions and conclusions, and preparing for the establishment of an ad hoc review committee if necessary. announced the establishment of a task force.
WoS that is exactly the problem! Nothing has changed...for 5 years now...still waiting
Sp Down 27% this year. And you promissed the people here it would not go down . Up to 6 at least without news.. winwin remember;) ofxourse not ...
He's actually trying to have his cake and eat it over at GCM.
The poor Twit Twoo doesn't know if he's coming or going.
Let down badly at MATD.
Shafted over on COPL.
Playing politicians games with GCM.
Time to put a sock in the not so wise orifice IMO.
Investor. Please see Mike Bucks footnote to the RNS of 19.12.23
"On the land issue, we feel that we are almost there, but we will keep pushing until the process is complete"
Also an expected timeline of 1-3 months was stated 12 months ago.
WOS - I see you're ramping GCM with the same "RNS Next Week" forecast as you have been for MATD over the past year! Will you never learn! RNSs will be communicated when a company wants them to be. Give it rest for your and our sake!
RNS will come yes
But what will be in it? More delays? Raise to fund renewables? Do not think SP will be up.
And if LP is granted... no assurance at all it is last issue. There could and probably will be lots more.
This all adds up to just one conclusion: trader stock (even after lp). Dyor
Mr Researchandhold - good to see these are other sensible holders here like Mr Thorngasson & others (check his post yesterday 16:02).
Most others just complain complain and do not look like they have mentality to really be involve in investing Lol.
Do RESEARCH, BUY & WAIT - if cannot then SELL.
Cry babies do not achieve anything unless plan is to cry as much as possible on BB lol.
RNS WILL come & price move shoukdopen well above recent dip!
Simple! 🦉
R&h... lol
We share shareholders frustration at the bureaucratic delays that have held up our activity at Heron 1 and are doing everything possible to push the Mongolian Government at all levels to allow us to move forward.
ARE Doing: present tense
ALL LeVels: so NOT only the last steps of the process which is already clear ...
Still uncertain
* held up
Ibiza , thanks for posting the reply you got from PM, however, they couldn't really say much else outaside an RNS since to imply otherwise would be against the Nomad rules:- hence if you lkook at the wording is past tense " ... the bureaucratic delays have help up............ " It doesn't give us any particular current insight as that would be against the rules
"We appreciate your support and continued interest in Petro Matad.
We share shareholders frustration at the bureaucratic delays that have held up our activity at Heron 1 and are doing everything possible to push the Mongolian Government at all levels to allow us to move forward. "
The herders asking money from miners but they aren't supporting them!
No money should be paid to greedy Mongolian at all. No charity unless we get sth back. 5 years and still waiting.
Zero sympathy. I am sure MB is doing his best, however MG is too difficult to deal with.
Personally i do think this is up to MB. I think it is MG who have lost control and lost it some time ago and are trying to pretend they still have some sort of say over this. At some point they will use the full force of the law they have created but that will not happen in an election year,. So do not hold your breath would be my opinion.
I have also emailed seeking asuurances that we are fully funded and asking that they keep the SH informed.as i said this SP is going nowhere (even on news) that a raise will not be required soon and saying it will become a double edged sword.
I will let you know.
Which has happened in the past with other companies which i did post about some time ago and also got shot down for that. GLA
The LP is held up because OF Mike. He is the reason for locals not approving the LP.
At least you got any answer, no reply to my three emails I have sent over the past 2 weeks! Communication utter crap!
Thanks Mike.
That doesnt sound like anything happening SOON...
I got so frustrated over the weekend on this share i finally got round to emailling HO.
I print my bit and then put i their answer.I will leave my view of the answer out but think it is self explanatory.
Mike
I have been a patient shareholder here for several years now and was hoping after the last RNS we would finally be getting somewhere.
Can you please give us an update as there are more than a few of us who think that the Mongolian Government have lost control of this whole situation and the reality is that the tail is wagging the dog here. We pass over the money to ministry and I assume that by now that has found its way to the right province and is being held up deliberately at that end. I am sure that the weather at the moment is hardly conducive to staying outdoors for two long but it will not be long now that -40 translates to Zero and we back into an active time period. Is this likely to happen this year and how concerned should we be with impending Mongolian elections later on this year.
Answer
We appreciate your support and continued interest in Petro Matad.
We share shareholders frustration at the bureaucratic delays that have held up our activity at Heron 1 and are doing everything possible to push the Mongolian Government at all levels to allow us to move forward.
Please rest assured that we will update shareholders in due course on the progress we are making.
Imagine my surprise.
NOW
Should we be relaxed if we still haven't got land access in, say, another 2 months?
When is the time to get concerned?
Aeschylus : The exact wording was ' but we are pushing and expect this to go through soon. ' However it was not referring to the other three stages which I mentioned - just to the transfer of the money from the Ministry of Finance. For all we know this may already have happened.
No other reference is made to probable timescales in the rest of the RNS, so the numerous posts on here saying that there have been delays is just subjective opinion with no basis in fact. Let's face it, if the share price was still 4.5p people wouldn't be panicking.