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.
Hi all, I've been watching this one for quite a while and I've missed the boat on the 4-5p buy in unfortunately...
I'm weary because this chat board only "likes" positive unrealistic opinions (they get the most likes) and doesn't like realistic (based on fact) statements/questions.
I will continue to watch this but just be aware, half of you are buying this and getting excited just because someone in the chat says
"Be ready guys, 20p on the next few days"
It's called ramping...look after your investments and DYOR
Other than that I'm looking forward to see if this share has any legs and I might grab a few shares if it goes up ( RNS only, not sentiment from LTHs)
Morny morn :)
I'm not sure that's fair Payjj.
This is the first drilling season where the Mongolian Government have given assurances that the Land Permit will be granted.
They spent some time trying to achieve this through the pre-existing legislation and legal jurisdictions without success so have changed the law to allow them to have the final say at Central Government level should that be necessary.
They now have what they need to grant the Land Permit.
Rightly or wrongly I'm assuming that they still wish this to be achieved amicably with local consent if possible which I'm sure would be Petro Matad's wish too.
If it doesn't happen this way then it'll happen by dictat in due course to allow Heron to come on line this year.
That's my belief and why I invested.
//This is the first drilling season where the Mongolian Government have given assurances that the Land Permit will be granted.//
With due trspect that is not correct. MRPAM has recommended that the field be granted special status, but it is then up to The Mongoloan Government to accept or reject that recommendation.
Let me be clear. There are NO assurances.
fully understand that PAYJJ.... but don't forget we were @37p a few short years ago and the future wasn't as bright for MATD compared to right now... 6p really is a bargain all things considered... of course timelines are a factor and can a dramatic effect on the SP.
That's a fair point Curiouser.
The 'mood music' about changing the Mongolian approach to attract foreign investment and expertise comes from that same Government though and I think the points made about creating the appetite for future oil exploration and production to feed their new refinery all make perfect sense.
And we haven't been told that this vote has happened or that the recommendation has been declined. So it's still moving forward as this board has been saying for some time.
It's not just wishful thinking but based of firm information that's changed from previous years.
We've been told that it will happen and there's no real reason to suppose that it won't.
Thornogson I do agree that the investment case strength currently lies in the Mongolian Government's desire to be seen as a credible place for foreigners to invest.
Pointless quoting .37p different market cap as fewer shares around at that time. Multiple fund raises since then . Share price irrelevant all about market cap
Thank you for your reply Thornogson,
My point about this chat board (looking at it from an outside neutral perspective) is that many posters recommended this share everyday and "Ramp" with fictitious valuations.
If what your saying is correct, MATD is waiting for the Government to make a decision on whether special status should be granted.
IMO that is a 50/50 risk. Many investors will do their own research but some will read the sentiment on the BB and decide to invest.
All I'm saying is, if there is anyone here who is looking to invest and watching this share, just DYOR and don't invest because of the misleading positivity of this BB (although it is a nice change from the other BB I'm currently watching :) )
Good luck all
No problem Payjj a discussion board is always better than a one sided opinion board.
In your opinion it's a 50/50 risk that the Government will issue the necessary permit.
That strikes me as a rather random number plucked from the air? A 'gut feel' sort of number?
Objectively they've said that they're going to change the law (which I think they've done?) and are now recommending to the Government that Petro Matad fulfills the criteria for this change to apply to them.
This decision is what we're waiting for.
I'm plumping for a 90/10 % chance of it being signed off if needed.
Soon fine out hopefully.
Thornogson - Heron = Project of National Importance.
I know R and H.
It all makes perfect sense and when the Land Permit arrives we'll all look bemusedly at each other and wonder how we managed to make it all look and sound so complicated and uncertain.
They want Heron to be producing oil. Full Stop.
They've changed the Law to allow this to happen and they're now implementing it and voting on it.
Can it really be as simple as that?
The required law change (i.e. removing land access request decisions from local authorities and placing the decision making authority with central gov) is still to be drafted and implemented.... otherwise we wouldn't need local authority approval or designated status approval.
It goes like this..
The current legal situation is that local soums agree or nor to grant land permits.
In the absence of an agreement the gov can overrule.
In the long term there is draft legislation to place decision on land access centrally.
Hopefully Mongolian government are watching closely recent developments with Saudis cutting oil production and oil prices going back up. Surely they don’t want to miss out on a piece of that action?
Curious is correct except there is also the option of designating an area special purpose land. This also overules the locals and is what we are seeking and quite likely have just achieved.
And what this means for Petro Matad?
1. The local soum rejected the land access permit request last year... the company has been told to try again.
2. MRPAM has drafted paperwork to support a request for approval for a land permit directly from Central gov if the 2nd request to the soum is rejected. This is being processed in parallel with point 1 (so I presume that means they aren't too sure it will get approved 2nd time).
3. Draft legislation to remove the decision making on such issues from local authorities to central govt may or may not be approved by Parliament .... and will take time in any event.
So it was denied. They're trying again whole also reaching out to the Gov.
The Gov (if they decide to take on the decision themselves) may also deny?
Doesn't sound like a positive current situation...then you got posters like wise owl who I actually believe to be a very young and inexperienced trader yelling BOOOM all the time at the slightest sight of blue with a 20p target coming guys woweee. Don't get sucked into peoples sentiment.
As it was mentioned earlier, this share used to be 37p...I wonder how many of these LTHs need to get back there just to break even? Maybe the ones who are yelling the loudest. Just an opinion as always :)
One way or another Central Government is going to make sure that Petro Matad get the necessary permits to flow the Heron field whether the local Soum agrees or not.
Hopefully days or weeks but if it was several months would that be a problem.
It's going to happen and the Share Price will reflect that when it does.
Buy and 6p and wait.
Thornogson, how will the Gov make sure?
Is this your opinion or do you have insider information that the Gov will make a positive decision?
If you know for sure then why don't you remortgage the house and put everything you got on this share?
It's a NIMBY issue that Central Government have decided has to stop.
Ultimately they make the rules and have said that's what they're going to do.
I'm sure they'll try to do it as consensually as possible but it will, in my opinion, happen.
I haven't re-mortgaged the house but am hoping to pay off the first one with profits as I am pretty 'all in'.
//One way or another Central Government is going to make sure that Petro Matad get the necessary permits to flow the Heron field//
Not quite. One way or another Central Government is going to make sure that the owner of BLOCK XX get the necessary permits to flow the Heron... that may or may not be Petro Matad. It depends if we can keep going as a viable entity until such time the permit is granted (which may not be until the refinery is ready).
However the MRPAM support DOES give me hope it will be granted in the not too distant future and we will be able to.produce.... but please can we stop with the absolute certainties.
It is NOT guaranteed ... yet.
Re the post at 11.46.
Point 1) - MATD are trying the local route again.
Point 2) - as you say MRPAM have drafted paperwork to bypass local government in case (1) fails
Point 3) - central government want to bring in legislation to stop (1) from being an issue going forward for other projects and companies.
So… can someone explain why (2) doesn’t do the job for us if (1) doesn’t? Again this has been named as a project of national importance by the central government. So……….