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"He has had years .
If you don't see the real problem then we are all blind.
MB is our problem.."
and yet you've held on like an abused spouse unable to let go, even though you know there will be more abuse down the line. Blind isnt the only word.... Foolish as well. You have no power to remove MB, wail as much as you want... so what other option ? remain blind and foolish.... or learn from it.... dump and buy something that wont give the proverbial investment piles.
You can moan and whinge all you like master, MB isnt going anywhere. You've turned into a teenager yelling at his parents saying "I hate you.." ... ala harry enfield. You moan and cry foul all you want... you are just pi555ing in the wind. You need to stop your tantrums and man up. Dump the stock or grit your teeth, stiff upper lip and all that... and march on. Crying like jilted lover isnt going to do an iota of difference..
"He should have gone to resolve the situation himself and not let his pride get in the way.
Different cultures have different ways of dealing with situations."
eh ? you were the one who wanted MB to show some aggression towards the Mongolians... backbone/spine.. remember ?
Master, I fully understand your frustration.
MB is in Mongolia at the moment and he is there for a reason.
Let's see what he can do now. We still have more than 2 month to sort out LP.
I don't believe changing CEO at the moment would be a smart move.
MB should finish what he has started before hand it over to the next person.
I want PM to succeed more than anyone. But with the attitude of our CEO it's a struggle and the market says it all..no confidence in MB
IMV the problem is next door. Petro China want our oil. They see our discovery as their oil. They've got the locals wrapped around their fingers and even the central government need to tread a tightrope with them. Quite simply they are hoping to squeeze us out by delaying tactics. It may well be a way of getting their hands on our block cheaply. The longer they can squeeze us the lower the eventual offer we accept may be. I hope I'm wrong but when formalities start taking longer than the special license did you have to question why.
And how is Mb trying his best when he is not even in the country.
What a joke.
Check every single interview and he is always in Singapore. Rarely he is Mongolia.
If there was a problem at local government then PC would be shutdown . Real problem is MB . He insulted the governor by taking him to court and lost the case .
MB was wrong to do that as he had no legs to stand on.
He should have gone to resolve the situation himself and not let his pride get in the way.
Different cultures have different ways of dealing with situations.
He could've sorted this problem very earlier on . He will only face more problems along the way if he remains.
Better to strat fresh with new CEO and new beginning.
650 posts in since I looked .
Bought the last tranche back for my 3.6p target of last 12 days 1.30 pm , out playing in sq after Tommys.
Wos, ibiza are absolutely right.
Well said guys.
MB is trying his best in Mongolia right now and he will definitely deliver.
We get there guys.
I am not selling any shares.
Sit tight, our turn will come.
I will not sell. This is the perfect time to change CEO as he has failed miserably and we need someone who can take it to production level and fast. Not make excuses.
Why has he not been able to sign contracts with DQE or PC facilities .
He has had years .
If you don't see the real problem then we are all blind.
MB is our problem..
He can not communicate with the shareholders nevermind the ministers. He is not even in the country to sort the biggest issue his company is facing. How irresponsible.
And do not tell me to sell. I probably have lot more shares than lot of people here.
If you feel that strongly about MB and situation that Matad is in then cut your loses and get the hell out of here before the bottom falls out as i am certain changing CEO right at this time would see the bottom fall out of this share . There are times to change CEO's and times not to change CEO's this is not the time (IMO) to be changing CEO he is clearly now in communication directly with the top people in government and yes in history he burnt his boat with the locals but since then others have tried the same thing that we did. Once i can understand someone got the wrong winks from local governor but two issues as indicate by recent court case indicate someone playing both side against the middle or trying to.
I am not saying do not change, i am saying this is not the time. If nothing has happened by end of September i will probably be in the same boat as you and you can say i told you so. At the moment i am prepared to give benefit of the doubt.
Mr Mike Buck has navigate company thru COVID time, he have built SOLID relationships with Central Govt & all main agencies.
He have manage to get EL & Cabinet Special Certification Approval with now just "formalities" which is signing if Certification by local govt (remember they cannot block this).
He have set up Renewable JV with well connected partner and first revenue expected shortly. Remember Mongolia have one of global BIGGEST potential for this with export expected to one of BUGGEST energy consumer China. You understand what this mean for company development.
Also NEW BLOCKS next to PROVEN & PRODUCING field.
I unserstand your upset mr Master and do not say to put you down sir. Just to look at why I do not share opinion to fire Mr Buck now.
I think lot of DERAMPER try to spread doom picture but with all I have just mention & good cash position I see Petro Matad in perfect position to grow into major regional ENERGY COMPANY.
Mr Buck have done a LOT of thing right to put company in such STRONG position for this now.
Keep focus on investment and not price today sir 💰💰💰
I agree that there's lots to critisize and complain about re PM/MB. However, there is a lot of potential which may possibly and hopefully be unleashed - who cares when!
That leaves every investor to decide whether they want to "wait and see" or minimize their investment risk. Moaning and groaning is simply not getting us anywhere. If anybody can change the course of "PM's development" in the interest of us investors please be my guest and do so. Otherwiese I suggest you consider your options as an investor carefully and then take a decision.
I for one am here to make money - not to be right.
I know it's hard to digest the facts about MB. But he has lumbered us in to the current situation. If it wasn't for his stupidity and lack of negotiating power we would be making millions by now.
I've been a lth and,I can see where the problem lies.
Shareholders need confidence not we might and we would like to and we are progressing.
We need clear cut information. Not we have enough money then boom raise at 2.5p
We are talking to big boys and then nothing happened .
MB has had his chance . He has not done anything which you can give him credit for.
He has lost money in wildcats .
What has he achieved is 5 years is a weeks work.
History has played a big part in today's situation.
The longer MB remains the more excuses he will come up with .
Not a single contract has been signed with any of the companies that PM will be dealing with. Why?
In his 5 years can anyone point out 1 thing he has got right.
He keeps blaming government but he was the cause of the Current situation.
I Don't trust this guy to lead us to next stage.
He just doesn't shine.
Just check other companies who have started in Mongolia after PM and they have started producing gas .
We are where we were 4 years ago. Besides EL nothing has progressed..
Now is 2023 not 2019.
We have Cabinet approval for land access, full support of Govt & departments for formality completion & first production this year.
I am not invested here to punish someone for decision made in 2019. Even if Petro Matad did not try to drill then they still need Land Access permission then.
Now is sillly time talk of firing mr Mike Buck for and when company getting ready for major transformation.
Does not matter what share price is TODAY. More important is position of company growth ahead.
Be happy but keep fire for oven 🔥😊
MB can't be a hero for solving an issue that was caused by MB.
You have to go back to 2019 to realise MB is the problem for PM. PM had no issues prior to MB taking over.
"I presume this BB serves - as already mentioned - solely the purpose of ventnig frustration. I hope you're feeling better."
Not at all. Some other BB's I'm on offer great information and don't have the likes of WOS on there. Unless of course he decides he doesn't like what is said here and so visits them only to disrupt!
But some cracking posts on here today, Hamm obviously contradicting himself once more with this corker:
"I agree with master on the point that MB could/should have been much more generous to the locals."
This is the same Hamm who was losing his mind over MATD spending money on the locals last year!
Actually Hamm, are you finally going to tell me which broker you use, as you're spinning this cr4p once more?:
"Not many shares on the market to buy. It is really difficult if not impossible to get any quote."
If MB goes someone else van go and talk to the local governor and offer a decent deal .
They can start a new page. Which is what this company needs.
MB is even useless at negotiating with other companies . Nothing has been signed at any level.
He's been saying we are at advance stage for years.
People here are not getting it. He has got us in to this position in the first place.
He was the one who started drilling without permit and on top of that he took the local governor to court.
It's not Mongolians fault it's all MBs fault.
This is definitely not the right time for MB to resign. Is he the right guy for the job i honestly do not know as i am not sure how much of this is preventable and how much is the Mongolian government getting its own knickers in a twist and we are having to live with this. As MB has said this last part is taking a bit longer than anticipated but as yet i have not reason to believe it is not because the local government have been told to pass it. The question is how long can they are allowed to drag their heels. Could someone have done it quicker is a bit of Tortoise and Rabbit kind of question. It is possible another CEO would have got us their quicker on the other hand patience may have been the order of the day and MB has been very patient (mind you so have we). As regards millions on wages i have to admit i have not looked at the accounts but all i know is the Directors were or are on half wages from about 2020 and not sure how much further you want them to go.
Yes the wild cat drills were risky and did not work but that is the nature of this type of share and company and is really why so many of us are here. This is our gamble. And let us be honest that is what it is a gamble. Personally my opinion is just sit and wait a bit longer and we will get news and hopefully good news.
MB can go once this is all resolved.because it may need a different temperament CEO to get us over the next hurdle and more to point we could be a completely different company than the one we are right now. If Gazelle comes through, the JV on renewables starts to move forward and then the big question is what the hell is happening or rather was happening in IOM. We might be a medium full cycle oil and gas company. If we do we will need a CEO who is used to steering companies through these choppy waters of straddling both sides until one categorically takes over.
MB is a very patient person who right now MATD needed more than ever.
The last thing we want is someone who blow everything we have made.
Patience we will be rewarded.
MB is there to sort out LP and he will.
Again, no price given to buy shows demand is high.
BAD PROPHET. which part of my posts are extreme..
I am only telling exactly the way things are with PM. .
Who do you think is to blame for the LP in the first place.
Why has he been sending minions to resolve such a big issue.
Just check Facebook posts .
MB should be present when talking to locals.
Tell me what gives us indication that he is the right man.
He clearly is the wrong guy for PM.