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No chance of getting the LP this year, if Velociraptor is a duster which is likely given tiny COS this will be sub 1p very quickly…
Also feel sorry to the investors who came in on the recent spike.
Will rampers be covering their losses.
No. Rampers clowns
Yes bad prophet as i said before. There is so much information we dont know. Who could have predicted the change of department delay. That is why it is so crazy for people to make guaranteed comments. It is ramping.
I feel terribly disappointed but totally vindicated - so "up yours" WOS/master/iamrich/vikinglass etc.
DOC Come back in few weeks and you will sing a different tune..
Thanks curious, at least they helps with some of my concerns.
Can someone confirm that the LP is only required once an exploitation license has been granted and that it is not needed for an exploration well to be drilled??
WOS…. BOOOM, you really need to go see someone gif help mate, ghat is possibly the worst ramp yet!
Master82: “And yes LP is a guarantee otherwise non of this paperwork would be looked at.”
Will you ever learn? :/
WOS, Master, iamrich et al,
I think an apology is now due. You absolutely flew at those who reckoned LP would continue to be delayed and my September prediction. Completely unnecessary, when it was just an alternative view, which sadly now looks like it will be correct.
WOS - you are off filter now as I want to read what nonsense you now write, given that you have been wrong, wrong and wrong.
As for this RNS, there is NO urgency from the MG. Can we at least agree on that? Thornogson makes some good points below and I’ll be reappraising my own position and whether to trim my holding here. They’ll be no full sale yet, though.
Personally, I have now all but written off us getting any oil out of Heron this year.
People are missing the point. PAPERWORK WAS BEING PREPARED in the April RNS. May RNS paperwork has been prepared. So Won't be long.
And yes LP is a guarantee otherwise non of this paperwork would be looked at.
Another month
Great opportunity for new comers. I expect lots of trades today.
MB isn't pleased himself but I am sure He will secure LP soon.
Mu guess is that he gets LP before v1 drilling starts.
V1, V2 is on the schedule now.
See what the market thanks about this RNS!
I still believe the share price is a bargain.
Guys,
I guess that the rig is contracted to MATD and if we cancelled we would be looking at substantial costs . We wouldn’t just be able to get another rig easily if we delayed. Mike is damned if he does and damned if he doesn’t drill… I go with the drill as a positive and will keep my fingers crossed.
Every RNS should be used as an opportunity to reapraise your investment options, especially when it's from a small cap fronteir oilexplorer without an ongoing income stream.
Today is no exception.
For me it comes down to the competencies of Petro Matad and the Mongolian Government.
I'm happy with the former but unsure about the latter. I don't think they're being actively duplicitous though just bueaurocratic with more than an element of department and political rivalry.
So it'll take time.
Heron on-stream in '23? It's only May so let's hope so.
Worst case would be '24 with a further funding round if Velociraptor doesn't strike.
That's still a very attractive worst case scenario for me with plenty of big news up-side between now and then.
Win big longer term or win mega big in '23.
I dare say there'll be plenty of ups and downs and trading in the mean time.
Make your decision on the RNS and ignore the rest?
Just shows to me that no one on here has a clue, but the majority are prepared to admit it.
The tiny vocal minority telling everyone everyday this is guaranteed, and an absolute winner really annoy me.
Nothing is guaranteed until every risk has been mitigated.
AI... there won't be any need for SPC or LP if velo is a hit as land access is NOT an issue generally. It is just a local/Dornod issue for block XX.
It is a delay but hopefully with all paperwork just being repeated that will facilitate the process.
They raised funds so they could drill VP. If MB new LP was coming he would have held off on the raise. Holding back on VP will incur further unnecessary costs!
There is a delay but fundamentally not much has changed. Could be a good buying opportunity if you believe it will eventually land or even better VP is successful!
i agree 100%% shagged.
this is absolutely mental from mongolian government. we have no evidence that we can actually get the lp if oil was found. turning into a complete **** show.
also all rampers predictions that lp coming in next week are wrong. there is always information we dont have so dont make stupid predictions
If they continue to go ahead and drill VP prior to being granted the LP.
A duster on VP, which is way more likely than not, will absolutely decimate the share price with no confirmed LP to back it up.
Totally nuts.
You guys make me laugh.. any weakness ill be busy mopping them up
Down like a sinking brick lucky to hold 5p
It’s a shame for MB. Mongolian government need to get on top of the investment opportunities.
Disappointed no update on solar panels .... getting to be a joke !
Also look like they have WON new oil block in tender & now negotiate PSC detail before RNS release on it
Drop to 5p ?