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Agree 100% mr Ninettoes
No way this will happen with all those people in person at incorporation office UNLESS something BIG like incorporation of new JV company.
When I send email last week I tell them we all know about IOM meeting & must tell us.
Think this panic them a bit because they not ready to say so yet & with New Oil Block tender process still live ;)
ir@petromatadgroup.com
Agree mr Master almost certain I think lot more happen with Isle of Man meeting. Some people say mr Mike Buck have to rush out excuse for IOM meeting and think this is right.
I send email to him last week & ask about IOM meeting and now we get what he say in RNS but think NO WAY MRPAM, MMHI & Mongol Ambassador travel there if not to incorporate new JOINT COMPANY.
Make sense for Govt to get PSC AND share of production of new block as partner. Also mr Mike Buck say new block develop with PRODUCTION REVENUE or PARTNERSHIP.
Best thing if partner is MONGOL GOVT and everything fitting into place for major growth of Petro Matad & shareholder value.
People say delay but think process with new ministry will be FAST because all other Ministry opinion have no need for change & will be direct pressure from Mining Ministry. No real change with Ministry document for submission & with V1 drill result mid July (7 week away) PLENTY of time for LP to be given.
I took opportunity to get more share yesterday & think price will start to move back up with V1 spud date RNS coming.
A JV would require negotiations on shares of production and on fiscal terms. If a member of this JV was a director of the new company then his own dept signing off its own special land permit would potentially be a compliance issue.
Surely the MG can do new block negotiations in MG and do they have a photoshoot for every agreement. In the great scheme of things Petro Matad is not big enough to attract all these dignitaries to the IOM. This was something that benefits Mongolia as well. I'm still convinced also that there is more to this.
I think theres more to it. AMBASSADOR going to IOM is one thing . Why Mrpam and oil minister going there is beyond me.
Then another company being registered.
They didn't mention PM due to market sensitivity i suppose
To be clear, we don’t know that is what’s happening.
Partnership between Petro Matad & Govt of Mongolia can only be GOOD thing for company & shareholder value.
Giant ENERGY COMPANY in the making :)
Researchandhold, I think your post of 06:56 is bang on. Personally I thought the RNS seemed to be a rush job, not a normal full operational update as per Bucks normal RNS's. I think he has to put it out due to the IOM news coming out. I think he had to inform the market, I think we were only told as much about that meeting as he could, due to as you say NDA's in place. It does seem strange that Petro Matad were not mentioned in the photo shoot, but as said I think you are bang on in what you say and why the LP has been passed over to another ministry.
I have always thought that the MG needs to protect the oil and keep it out of the hands of Petro China. A JV with PM will safeguard that.
LP will be here soon. No issues there.
Renewables will be highly attractive with 90% Tax breaks in first 3 years.
Velociraptor-1 on track. Huge prize with 200MMBO recoverable. If we hit sweet spot here also just like Heron-1 then other raptors come into play with another 400Mmbo plus recoverable. Looking at potentially 600MMBO recoverable.
Great buying opportunity for anyone looking to get in for the MASSIVE upside here.
IMHO, DYOR
The golden thread sounds superb, but the reality is this is a non profit generating business and sadly has been for many, many years.
You can find all the oil you want, but if you can't extract it, it's useless. 20 years of revenue....we all know its going "green" energy, hence the new subsidiary and last time I looked, no wind or hydrofarms in place there.
This is a classic, we drill, we dust, we raise and we repeat. What happened to Snowlepord?
I'm personally invested here, but bailing long before the same spank repeats.
Agree. But let's not lose sight of all the other potential news on the horizon. Rig will shortly make its way to us. The results of the spud will be highly anticipated. To me it all looks positive. Otherwise, why would MG officials visit PM offices? NDA's will be in place to prevent leaks. Remember, Loose lips sink ships! GLA
The LP is what most are interested in...
Let us get back to discussion & leave MISLEADER to own thing.
Question again why incorporate new company Petro Matad Energy Ltd & have all big people from Mongol Govt there?
As shareholder am very excited by any partnership :)
WOS. I refuse to rise to your empty baiting ...
"your ability to "compare and contrast" is woeful"
Same as "LIAR and MISLEADER"?
CaC the Misleader true name for you.
Be happy but honest
You'd have to sit "tight" with balls of Steel
Reminds me of the part in the James Bond movie where Daniel Craig is being pummelled in the balls with a steel ball weapon yet he is still laughing. Thats what we need here. Because we know lots of news to come.
Hi Master. Mike is always upbeat isnt he! but he's not come back with the outcome of the 2nd approach to the locals which is a bit poor imo.
If he was transparent, it would avoid a lot of misunderstanding. Most, if not all, the discussion/arguments on here are surrounding various interpretations of yhe gaps in the info.
Started its recovery this morning in a small way a lot more to come
I think some here need to purchase 'balls of steel'. I'm sitting tight here. GLA
Curious why don't you listen to the last interview.
We all know the problems with locals but MB said locals would support the project if PM continues operating like it has done . Im sure they mean contribute towards locals
Just bought £6500 at 5.04 in believe in the project, disappointed in LP news but what’s another month or so
Iamrich. I wouldn't expect you to understand...
Curious, why are you arguing about the delay I don't understand, why the arguing and fighting in this board? Why don't you email buck, we or anyone can't do anything to answer you, it is what it is,
Just stop arguing about things you can't do anything about it's delayed and has so what now either bite the bullet hold or sell
Just don't understand people like you
WOS I presume you are not degree educated as your ability to "compare and contrast" is woeful
Objective is to explain
BACKGROUND v CURRENT situation.
CaC the Misleader is suitable name for you sir ;)