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Please try to understand - nitbyhst difficult!
State Special Purpose Land v Local Level Land Usage.
Special State Purpose Land process need completion with final local govt tripartite signature BUT LOCAL LAND USAGE AGREEMENT clear!
This means OPERATIONS CAN BEGIN FOR DRILLING SEASON!
"In light of the ongoing delays in the completion of the process by which the Exploitation Area is being confirmed as State Special Purpose Land, the Company has engaged with the District Authorities to secure LOCAL LEVEL LAND APPROVAL.
UNDERSTAND - They use bypass of Special Purpose Land Usage until all clear on this. This let them carry on Operations!
The Citizens Representative Committee approval "covers all the activities easy in which the company wishes to operate during the year"
If Sneakies spend time on research and not gossiping / hysteria they maybe understand this things.
No apologies yet for calling RNS day correct to day after ALL INSULTS I HAVE SUFFER!
Karma is good - be Wise π¦
Mr DOC & Mr Professional just exposing themself now!
Read & UNDERSTAND RNS! π¦
Quite funny really reading their comments as the frantically try to cover their shorts.
WOS
After an apology after calling an RNS every week for the past couple months π€£π€£π€£
Exactly WOS ! Well done for all your efforts here i know you can be a crazy Owl but i have a lot of time for you and your posts !
3.8 back on Ask
Have the herders already compensated? He did not mention it at all. Seems yes? Hope so.
Mr Benjamin - I say RNS "SOON" and for me who is not impatient like some poster here "SOON" has happen!
When I give EXACT DATE I have been EXACTLY RIGHT on both times!
Think about this if you want to carry on with Insults or Apologise.
I do not expect Apology really from you or others - you do not have this in you!
Be Wise - Good bye π¦
Effectively, the company is seeking to bypass the Provincial governor and requirement for the State Special Purpose Land certificate by going to the locals and obtaining a Land Use Agreement from the local District authorities:
"A land use agreement is now being prepared which, once signed, will allow 2024 operations to go ahead commencing with completion operations on the Heron 1 well."
However, it has not been signed or even prepared yet. MATD are also clearly concerned the Provincial authorities might try to block anything:
"We are hopeful that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, but we remain vigilant."
Stop replying to the doom brigade on their threads. Use the uplifting threads instead. Allow the doom merchants to cry their eyes out because they are not in.
They announced some time back that due to ongoing delays and uncertainties with the Special Pursose Land certification they were going to start negotiating in parallel at a local level to obtain land access through local juristictions.
This they have achieved.
Local permission has been voted through and the necessary papers/permits are being drawn up to be signed to make this a legally binding commitment.
Petro Matad's work and engagement at a local level has been rewarded.
The 'only' fly on the ointment is if the Local Governor tries to block or obstruct due process so it's not 100% but the company are quite rightly proceeding on the basis that this will all go through smoothly and Heron makeover will happen in short order once the Spring/Summer starts.
Let's hope so.
In due course the Governor may sign the Tripartite agreement that he had previously committed to.
At this point matters will be dictated solely by Central Government and the local Governor will be powerless to object.
Three steps forward and two steps back but as we stand we've crossed the line and Heron 1 is a goer!
And special mention to our Ambassador to Mongolia.
I might send her some chocolates or at least a 'Thank you' email.
My word, that was an enjoyable trade.
As I said yesterday, buy around the 2.70 price and nice exit again today.
Thornogson - I wonder what power the Provincial Governor (who clearly has no time for MATD) to block the local authority and its processes? And, will the local authority be able to "prepare" the paperwork quicker than all other previous paperwork!?
My read on this is that Heron drilling can go ahead without that provincial governor sign off of the state special purpose land designation agreement ..
I also expect he'll be pushed into signing off soon too .. and in the interim he'll not try and block Operational progress at Heron.. which Matd.l will be bashing on with from soon forward on, whatever
ps : If this s/p can get to/stay 4p area off the back of todays RNS .. then that's a strong base for a good further rally on Provincial Governor state special purpose land sign off too ( versus an all in one go rally from 2.9 p ish today )
Well folks we have waited and waited.
A few more hours or a day or two will clarify the situation.
I see progress has been made but this doesn't somehow mean we are all ready and dressed up to start drilling .
The shows not over
Well let's look at it logically.
If this RNS is clearly implying that drilling has no further hurdles than this SP is way too low and the stock is undervalued .
There is a possibility that something is not crystal clear and one or more hurdles need to be overcome
GLA
When was the last time PM released an operational RNS in the middle of the day.
Dirty playing by PM.
Misleading Investors.
I think the prospect of a 3pm 'reveal' live on the board might have had something to do with it?
I dare say it had already been drawn up but a 12.14pm release time is one that's faxed across 'for immediate release' rather than waiting until 0800 Moday AM or after hours Friday.
And well done too.
It would have been nice to have the tension of a live 3pm 'reveal' but this way any investor with an RNS notification could benefit simultaneously.
Very fair and professional Mr Buck.
Roxy - Indeed. I would be more confident had we not been here many times before. As it stands right now, we still can't do anything and more paperwork needs signing. And we know how long signing paperwork takes in Mongolia!
No mention of the compensation for herders. The last RNS set out a road map which included the signing of the tripartite agreement. If the governor is not signing the tripartite agreement then does this mean that the herders are still not able to receive compensation or will move?
Must say IMO, obviously I'm not a fan of MB, but I think he has played a blinder with the Dornod governor. This p*ick has obviously been the problem, and now MB has publicly stated it as a fact and also now given the flimsy, weak reason he is now trying to use to stop PM. He has been backed into a corner and made to look stupid. By working with the Matad District locals has worked in our favour. I believe this is just a formality now before all is sorted and we will be all systems go. The District governor is up sh*t creek without a paddle.
Master think your post forced MB's hand to release RNS pre Monday. Well done
Also I have posted on the FB link ref explaining who PM are and had a response back from one of the posters to translate into Mongolian. First time I have ever had a reply.
A little local pressure by herders would do no harm at all to Petro Matad's cause.
Problems are slowly being overcome and progress is being made.
As it stands right now we've got what we wanted and what we needed.
Oil transportation being discussed with Petro China.
Oil=money=share price re-rate+++.
The risk:reward ratio has moved more so far than the share price I think.
Researchandhold said //BP is like a stain on humanity//
It's simply a "holding" RNS that doesn't indicate any real progress. The silence was becoming embarrassing - he had to say something. Unfortunately the deal to enable Heron production to commence is not yet done. And there's nothing in it about PC/DQE cooperation.
Dozz. Thanks for posting on the fb page. If you use Google translate you can translate into mongolian then cut and paste.
Itβs all good to go in 2024.
Local governor is not a problem now.
He has already lost to Magnai Trade.
I hope we can now see the trend moving upwards