Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Doc assume you sold out, and need the share price to come down again,
Too close to LP news now I don't think it will fall rather climb back up towards 5p ish until LP news,
That would be nice. But traders might look at this and think it’s likely Velociraptor will fail (80% chance of this) at which point IF the LP still hasn’t arrived the SP will probably tank to 2-3p. Then buy in and hope LP arrives and make a stack of cash.
Let's hope for a double whammy LP lands and we get Velociraptor good news,
Day 10 of drilling V1
Around 500metres down, exciting times..
Couldn’t wait to get this on the way, now we are a third of the way there!
GLA
Better than reading your negative tripe
Yes I expect also 300%, 400%, 500% price increase next couple if week with Cabinet signing off Special Certification & WITHOUT V1.
WITH Velociraptor Multiple of Multiple!!
Mr Surf
They will develop through Production Revenue, Offtake & Partnership (Do research & you will see but again if you do not us your money lol)
Also from RNS 20th June 2023 "the current cash balance is sufficient to continue operations until AT LEAST July 2024". Believe it not again up to you but maybe you better to stay out yess? ;)
WOS - same old repetitive hoot, different day.
Land law and use has started to be discussed at cabinet meetings, I can see afte these discussions if the LP goes to cabinet will be easily signed off,
It's looking good and quite possible this is triggered by land and development as the LP is about to be submitted so they need to clear up land use and law
Bloomberg link
https://fb.watch/lkZfYLl9BA/
Like I said, the overall direction of travel, regarding creating favourable conditions for foreign investment, looks very positive, which gives me hope that the cabinet will also look favourably on PMs SPC request.
Govt not got. Proof reading don't seem to help, it still alters words
Energy independent!
Not maybe!! Pm is branching out into renewables in the joint venture that was proposed ages ago in rns. Registered in IOM for transparency and legitimation. This is exactly what the MG wants. Got have freely stated they want every independent and energy exporter. Oil used for many products not just fuel.
Don’t forget to mention that they will need more money with zero income.
Think you are right mr CaC.
Not (directly) about Petro Matad but in bigger picture for them & foreign investment very important & GOOD to see Govt do this things to help economy
Also help with any NEW BLOCK DEVELOPMENT where mr Buck say will develop with production revenue or JV with foreign investor.
When see Petro Matad dud help with New Tender process & Mining Minister PR for foreign tour can see what important position Petro Matad start to fit into.
Maybe then Isle if Man meeting start to make sense for potential Mongol Govt / Petro Matad partnership to develop Mongol energy natural resource which also involve attraction of foreign investor.
This why some try to build up holding much as possible because BIG development & shareholder value just about to come.
Think mr Thornagassaon and other right when they say people will look back & thinkmprice was just 4p to BUY just before all development start to unfold for REVENUE / GROWTH :)
Think very clear Mongol Govt push on all level to help & increase FOREIGN INVESTMENT.
This also very good for one who see how Petro Matad start to build into major Energy company in Mongolia
Think lot agree now derisking for V1 already happen & price discount WITH or WITHOUT V1 success because have Block XX. Part of this is 2 Billion barrel proven & in place extension so not just Heron.
If people say but need LP will say why you think price so LOW. If you think LP not come do not invest or invest JUST for Velocirapror.
Special Certifucation Land Access should give 300,400,500% price increase & many expect WITHIN next couple weeks.
Also more drill on Velociraptor prospect HIGHER chance of success. V-2 paid & ready STRAIGHT AFTER V-1 if company want this. They have discretion so any encourafi g sign on PROVEN PETROLEUM SYSTEM they can do to increase COS.
All know from RNS "near term revenue" on Renewables and like say before Petro Matad have already oil asset & cash until late 2024.
Price DISCOUNTED and ready to PUSH BACK UP.
But or not but be Happy :)
Yes that may very well be the case. Hopefully that it is.
I'm just saying that the reported info from this week's cabinet meeting isn't about PM's SPC
Re special purpose certification process, may not require a discussion, just a sign off, if they have read the memo 😀
In plain English don't mix up two very different procedures currently progressing.
1. The draft changes in investment law and
2. The special purpose certification process.
This week's reported discussion in cabinet appears strongly to be about 1 not 2.
The Company focussed its efforts on being as prepared as it can be so that once the land issue is resolved, development activities can be immediately pursued. To that end, the Company and the industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) discussed with PetroChina Daqing Tamsag, the operator of the adjacent producing fields, various options to process, export and sell Heron crude during the initial phase of development and negotiations on the operational and contractual details are ongoing."
We know that the legislative changes will need to be submitted to state Congress and is a lengthy process, whereas the special purpose certification process is a separate work around solution.
From 5th May 2022 RNS
For issues that cannot be resolved locally, Petro Matad has sought input from central government and this strategy has resulted in progress on the long-running land issue. In late April, the Cabinet of the Mongolian Government issued a resolution directing the certification of exploration and exploitation licences by the central Land Agency such that local approvals on land use are not required. We are advised by industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), that this will allow work on all Production Sharing Contracts (PSCs) areas to progress without land access delays whilst the planned amendments to the land law that will remove the current legal ambiguities pass through parliament. We are pushing to secure the land certificates on Block XX and V as a matter of urgency.
LOL look like you one trying to clutch at straw Mr Bad Prophet ;)
The cabinet meeting this week was regarding proposed revisions to the draft of the Investment Law. 10 proposals were made. No 10, (according to Google translate) was:
10. "Legal regulations related to land use relations were resolved in accordance with the Law on Land".
Therefore the cabinet discussions this week dont (imo) seem to be specifically about Petro Matad's special purpose certification.
I hope not - that reads like it needs a new law to be enacted not just a signature from the cabinet.
From master's link to the bloomberg mongolia - petro matad was discussed (3 to 4 mins into the video). I managed to transcribed the audio, extract it to a text file, and then translate it.
"The Government has informed that the draft of the revision of the Investment Law will be submitted to the State Congress.... the draft law provides for the resolution of issues such as the duplication of state inspections, land issues, and removal of road investment restrictions. To clarify, the threshold of 00,000 dollars for the investment amount of legal entities with foreign investment will be removed, and in the case of road land relations, the right to use land will be granted to enterprises with foreign investment for a period of 60 plus forty years."