Firering Strategic Minerals: From explorer to producer. Watch the video here.
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What people need to understand is oil refinery need oil to run the whole process efficiently.
Oil refinery will completely change the economy of Mongolia and will become independent from Russia.
Oil refinery doesn't just produce fuel it also produces other chemicals and plastic based materials which has a big role in boosting economy.
So if LP is not going to be given then its a big loss to Mongolia
Well masters you think it just a matter of some paperwork being signed off.
I don't.
I see it as a matter of a proposal to support the field being designated a special purpose area, with the government looking for evidence of support from numerous government departments and mindful of local opposition and that the agreement will be in opposition to expressed local wishes and votes on the matter.
Hence explains our different risk assessment I guess.
//Think National economic concern & Central Govt strategy different from gas meter issue Lol....//
Stop being silly and trying to gnore the point of the example.
If this matter was so important it would be sorted by now.
You over estimate the importance/urgency. The fact is we all know the government want the oil for domestic purposes.
Agree mr Master.
Think in next few wek as best estimate & from logic in post 07:26. Submission could already be prepare fir Cabinet. Do not know but not long from logical estimate
Now I enjoy beautiful day & wait for great news :)
You mean lose production revenue in this time from PSC to save some oil lol
Lucky Govt & economy not run by BB posters lol ;)
The whole idea of getting a LP is to access the field.
Survey has already been carried out . Just waiting for paperwork to be signed off.
The project may be of "NATIONAL IMPORTANCE" as you keep banging on about but surely that's tied in with the refinery under construction rather that the prospect of selling some oil to China?
Haha was about to say the same.
Think National economic concern & Central Govt strategy different from gas meter issue Lol
Be happy but sensible :)
Masters , amongst other things I used to deal with Deeds of Recrificatiom for land issues.
Simple example. If a conveyancer has failed to provide access to a leaseholder to read their own outside gas meter on their own wall, and the other leaseholder doesn't agree to allow access the first cant...
End of. It then costs thousands inc possibly compensation to rectify
So talk of a few yards is irrelevant.
Its not the DISTANCE it's the ACCESS OVER that is the issue.
Would you allow your neighbours free access over the bottom of your back garden on a daily regular basis to carry out noisy activities?
Good example where research help to understand this thing.
- Change in law 2017 to give local Govt more power in decision. Local govt decide not to give land access
- New pro Business / Foreign investment Central Govt in power with lot educated abroad
- Mr J Gan ataar Mining Minister say last Oct will "get all sorted out in 1-3 month". Some people say mr Mike Buck make this up. Sensible person (no walnut lol) will know mr Buck make this in public statement so cannot make it up or Minng Minister will question this.
- Look like Mining Minister give last chance to do at local level but this did not happen or "1-3 month" would be true.
- Mining Minster go into action now. First transfer process from Governing body MRPAM direct to Ministry Control MMHI
- Make Block XX operations 'Project of National Importance', Make process as Special Certification & put direct to Cabinet for signing - NO vote by Great Kural, NO vote by Local Govt.
- First direct mention of documentation process from MMHI in 3 April RNS. By 22 May we know all documentation was complete & READY for submission to Cabinet BUT Ministry of Construction & Urban Development want to take over process as Ministry responsible for land access.
Why? Probably as Project of National Importance it is feather in cap for Ministry & future political ambition of dept members.
- This transfer could have been few week before RNS & can think other Ministry opinion will not change in this time. Think reasonable if we look at 6 week before (if we take RNS to RNS & understand have not complete timing fact but Ministry positions sane) will be few weeks NOT months for Cabinet submission.
Also understand now project status NATIONAL IMPORTANCE will not be anyone who will want to stop this. Status for reason to get Special Certification and with support of Govt.
If you understand what happen with Economy & new Govt this become obvious.
In meantime have countdown to potential massive V1 operations & expect Special Certifucation RNS in next few week.
This is with logic with fact known & line up with mr Master who I also know do LOT if research. No one have ALL fact but think logic best I can do & happy to invest for this.
Enjoy this good day today & think VERY good time coming :)
If YOU are invested here then there must be a reason . Why invest if you believe LP will not be given.
Its first time MG is facing this scenario and the reason why its taking so long.
We are all here because we all know PM will start making money soon
I didn't "claim" nuthin! (unlike some on here)
….just like to put tick myself up the rampers rankings by saying …. I wouldn’t want to be out over the weekend and we are surely days away from double figures here ;-)
Rookie. The latest stage (special purpose certification), which is for central government departments to consider and submit to cabinet their responses to the proposal to certify the XX field as a special purpose area, seemed to have been initiated around beginning of April this year.
It's not clear how far the matter progressed before the Ministry of Construction and Urban Development declared that they were the body responsible for land certification matters, but the timescale for reference is early April 2023 to 22nd May.
How long it will take to repeat the paperwork and submit to cabinet will depend on a) that it us the same paperwork (i.e. no new matters being asked to consider) and b) if so, how far along the process the various departments has progressed with their original submissions. We simply don't have that information.
Also please note it is a PROPOSAL to grant special purpose certification (albeit one supported by the original department that had started the process). The outcome us not therefore, as far as ai can see, a foregone conclusion.
So hopefully same paperwork, just a simple resubmission and the propsal is supported and cabinet sign off, but don't believe anyone who says that this is guaranteed.
The whole idea is to get LP to access the whole block 20 field.
Why don't you guys do your research and see where block 20 is located.
What a silly claim bad. The road is few hundred yards from heron leading straight to PC facilities 10-15km away. Pc oil wells are yards away from heron.
You are talking nonsense now
Dont understand the comparison. Petro China doesn't need an spc/lp. Their fields don't have the same access problem as block XX.
So in that scenario BP PC should be made to do the same. Won't happen. But of course production needs to start. On another note we're ever closer to the spudding of V1 😁 GLA
Maybe the new ministry responsible could just turn around & say "OK we agree production from Heron but we're not comfortable with the trucking solution for transporting oil. So you'll have to wait for the pipeline"?
Master - please, I don’t want to get into a slanging match, but as you say, the mining minister said 1-3 months 8 months ago. So are you really that confident it’ll be 1-2 months from here and that we’ll have NO MORE curveballs thrown?
It'll take a month or 2 if that. EL took around a year. The LP has been going on for more than 8 months when 3 months was said by Mrpam minister. Can't see it taking more that 2 months
If we are having to go through the process again, does this means that we going to have to have the same amount of delays that we already felt? It's already been over 2 yrs ffs!!!
Intresting for new investors
https://vm.tiktok.com/ZGJx5GuR1/
https://youtu.be/NtTvgG-bKOo
The drop is due to the delay in receiving the land permit we're all waiting for. The drop is probably a bit excessive, but people are getting impatient/jittery. From the RNS 22nd May:
Block XX Exploitation Licence
Documentation prepared by the Ministry of Mining and Heavy Industry (MMHI) for submission to Cabinet to secure approval to certify the Block XX Exploitation Area as a Special Purpose Area was completed. However, the Ministry of Construction and Urban Development has insisted that as the ministry responsible for land issues, the Cabinet submission must come from them. As a result, they are repeating the step of asking all other ministries for comments after which we expect they will make the submission. The loss of more time whilst this is done is frustrating but highlights the fact that this is the first oil project to be put through this bureaucratic process based on regulations introduced in 2017 and the authorities involved have no obvious precedent to follow. The Company continues to push at all levels to underscore the importance of this licence for the Company and industry in Mongolia.