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I am not worried at all about the update today. It is quite promising on consideration.
As follows
1: I can see in a relatively new and undeveloped land of opportunities, that if the MMHI were to issue the tenders for the prospecting blocs and then take control of the Special Licence Permits, railroading the thing through, then this may be seen as a conflict of interest. I would rather PM got the licence correctly from their revised ministry and without later challenge, so when the wells start pumping oil, it is cast iron and safe income.
2. A new block is on the way, and potentially more than just one. The visit to the IOM was key and having done this, the inference in the update is that we are very close to this being announced. The Mongolian government would have wanted to properly audit and check the safety of our company and the set up and understand that the IOM is not a threat or a tax dodging domaine. They will be happy now having had the red carpet rolled out and had access to the heighest powers in government.
3. The update did not mention the new subsiduary, Petro Matad Energy Ltd, registered last week on the IOM. I am interested to see exactly what that is about, and whether this is about renewables. But regardless, it is all extra and can only mean greater returns for the share holders.
4. Velociraptor, whilst not proven, is a strong hunch with a proven oil find there. Fingers crossed, but this is worth a punt.
The maths is quite stunning. Heron would be 12 or 15 wells, which hopefully would pump about 700 barrels on average per day per well. This is for a 60 million barrel extraction potential. That is $500,000 + per day once all up and running with a barrel price of over $70 per barrel and a cost of $10 per barrel deducted. An Annual earning of $180 million plus for 20 years.
Then IF Velociraptor strikes black gold, that is hoped to be the same and potentially three fold.
Plus all of the other sides. This should be looking at an annual income of $500 million + ultimately. That is a $5 billion company - or £4 per share.
We have all invested in a wild west prospecting opportunity, that MB is having to work with and around to bring something large to the table and he is doing it really well. It is close. We will see how big the turkey is in the next few months.
For me, this is a strong and exciting hold as an investor. The traders will see this differently. But this is a strong HOLD and a gentle BUY stock for me.
Mr Manxkippers
Why you think we top up so muchbehike others "whinge whinge whinge" ;)
Think you are wrong mr recession. Think process will be FASTER because Ministries all have given submissions before & will be same.
Also will have price momentum build up toward drill.
You see price drop fast then very stable at this level. Think lots will start to BUY back in quickly sir & BLUE day tomorrow
Manxkeepers first post but the best post for today. A poster with a common sense.
Thanks, please keep up a good work.
I bought more this morning after the fall back on the update. I have long term holdings in Petro Matad but because of volatility in this share I trade as well which has been profitable to date. Even if there are setbacks and the SP falls I have belief in this company and its potential. If my trading buys become additions to longer term holdings I am just as happy. Been out today and found the post referring to Manxkeepers first post. Having read it I agree it is an excellent post and "post of the day" comment by Hamm is deserved. Welcome.
WOS: “Think you are wrong mr recession”
Oh bore off. You don’t have the right to tell anyone you think they’re wrong when you’ve never been right.
Separately, it’s laughable this is apparently a matter of national importance. Important, maybe but doubtful. Urgent? Clearly not.
Crikey! What a first post. Right into the owls ramp path.. i topped up today as its worth a punt. But £4 a share.. hmm
It wasn't ramping at all. Look at GKP history. From a 4p to £4.
Another of the crew joins.. i suspect a quick poll would give us the roll call of posters on this thread to big it up...
Even after a 20% drop you lot cant stop the smoke and mirrors.
Construction and urban land development have already circulated the paper work and with all the ministry's already have done their due diligence they will just this time sign off immediately,
I reckon we could have the LP by the time velociraptor spuds or a week after,