Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
*The continued refusal* of the Provincial Governor to sign off on a Tripartite Agreement which has already been approved by the Ministry of Mining and Heavy Industry (MMHI) and the Central Land Agency has been raised by the Company with all relevant agencies and also at the highest levels in the Mongolian Government.
*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.
The Governor is still withholding his signature, now on the basis of a partial overlap of the Block XX Exploitation Area
It goes on!
WOS, apology???
More spanners in the works, when will it end?? GLA
Honestly, this is not a good RNS. I would not be surprised to see this at 2.5p today once everyone realises.
Doc why don't you open a short then i dare you !!!
This is going to happen now
Well done holders
BIXY - explain why this is positive?
That has nothing to do with Heron. Read the rns again !!
Yep I am also reading that heron can go ahead in that RNS
"Heron 1 and the other locations that the Company wishes to work on in 2024 are not within the overlapped area."
We still need the special purpose certification for access though, don't we?
Why can't PM write a clear RNS 🙄
Mike Buck.
Please issue a 2nd RNS clearly stating whether or not Heron can start operating without the special purpose certification being signed off.
Thank you
"The Company has had its application for land access for 2024 operations approved by the Matad District Committee. 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."
I think it's pretty clear
I think it's pretty clear
I hope you're right. Time will tell.
Doc - I really can not be bothered to explain things to you as you seem to struggle grasping a basic Rns !
Good luck with your 2.5p today !!! I really don' think Aim is for you
If Heron was a goer, i.e. we will be producing oil "imminently", then I think that would have been made very clear in the RNS.
Instead, Mike Buck uses the summary at the end to say:
"With that being said, we are extremely frustrated with the continued delay to the State Special Purpose Certification process and we continue to push to get this resolved."
READ the effing rns as a whole.. and stop picking and choosing out of context text
"The Company is now stepping up the planning for operations to complete the Heron 1 well for production once the contractors re-mobilise after the winter hiatus and as soon as they can make available their crews and equipment. Discussions with PetroChina for transport, processing, storage, export and sale of the Company's early production are also ongoing."
why would they be "stepping up" with such activities including production if Heron was affected by the issues mentioned ?
Buck can’t issue an RNS saying that Heron operations will definitely go ahead, because the provincial gov may block the local. That being said, this is good news because it gives a good chance of operations beginning in the next couple of months. Considering the SP while no permission was imminent, 4.5 - 5p would be fair here.
Thecondorman exactly, the reasons certain usual posters are not picking and manipulating is because there not in lol, but they will be once they realise this ain't going lower
5p incoming we are about to go into production looking at 15p minimum of not 20p plus
i've also read and reread.
if memory serves me, pm went for special purpose certification because they didn't have local agreement. so hopefully now that they have local level agreement heron at least can start operating. with the caveat that the governor doesn't try and pull some trick. what a ****.
Https://www.facebook.com/share/p/aCSBVt6nP8RGf5av/
Second RNS on it way
Again, nothing new and significant except the usual empty promises. I am sure that this whole disgusting circus will not stop this year and will continue. The only thing that could really put an end to all this Mongolian clownery is to make it known to the world through the mass-media and disgrace all the organizers and its participants, starting from the company management to corrupt officials at all levels.
I maintain this is overall a negative RNS. And what best time to release one of those... Friday afternoon.
I'll be a happy man to be proven wrong.
"Second RNS on it way"
Why? What's it going to say that the first one hasn't?
What's it say Master ??
On the fb link, can someone add a comment in mongolian stating
petrovis is the main shareholder of Petro matad and is Mongolian and the oil will be used for domestic purposes at the refinery
In order to counter some of the bs and misinformation being written on that fb post?
Nothing new?
As of right now they've been given approval to commence work on Heron 1.
I don't think that was the case earlier in the week, so in what way 'not new' Manro?
The Local appear to be 'on side' and papers are being drawn up for signatures.
Local Governor intervention might happen but Petro Matad are being 'vigilante' and are being backed by the UK Government and its representatives at the highest level.
And as we have seen previously the Legal System is more than happy to force this particular Local Governor to back off when he oversteps the mark.
Tick Tock.
Happier to be in Petro Matad then at any time for many years (except for straight after the Heron well success all those years ago).
They represent the Local Communitee