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will hopefully hit $95 -$110 a barrel in 2023. Happy to wait!
https://markets.businessinsider.com/news/commodities/oil-price-outlook-brent-crude-110-eu-sanctions-russia-opec-2022-12
Interesting that posters either read this as all bad news or all good news - personally think it’s a mixture of both!!
Can’t buy a my thing atm
People still pumping this. We were told the same thing last year. 22 will be a where it turns corner. People are still being fooled by this completely disappointing RNS.
Nothing is certain for 2023. Nothing has been signed.
He will come up with some other excuse next year.
FALSE DROP! Can’t buy anything! NO even on £99 quote/order
With investing it cannot be said that "all things come to those who wait". Some stocks/companies will collapse/fail to deliver. However I have never had any thoughts that this stock was heading for disaster. Been buying as the price fell and the update today is positive in my opinion and "yes" we have to wait till 2023 at the earliest for pumping up the oil but the share price will start pumping up well before then, possibly from today.
"Taking the long view" and "Time in the market" has proved a good strategy. However no stock is without risk, Petro Matad included, but we all know that when we click the "buy" button. I expect payback time is approaching with Petro Matad. Even if they do a "raise" I will be in the queue to buy more if it's an open offer to all.
Excellent RNS and better than I anticipated, tbh
Heron first - development was pretty much priced in for next year regardless, with the share price reflecting the historic level with a years delay, without the EL & funding AND with much lower oil prices
The Special Certifucation, supported by MRPAM was always the route that was going to be progressed and the next news release likely, well before next years operational activities, imo. Itll likely catch a lot out.
DQE negotiations in very final stages and with an effective offtake element, majorly reducing costs and enabling major scaling up of Petro Matad's operations/ capability
Absolutely potentially massive Velociraptor drilling in 2023, with equipment in country and with a nice balance of major upside exploration & existent production capacity.
Renewable energy collaboration discussions at an 'advanced stage' hence further Newsflow potential.
MATD is quite frankly positioned as a singular 'gold dust' investment prospect, managing a very unique & balanced risk profile, with major scalability, newsflow & capital gain profile.
The serious investors will understand that.
This is a cracking RNS.
Not only is Velocoraptor drill now on the books for March/April 2023 , but DQE partnership is locked in with deferred drill costs meaning no raise should be required. This is significant from a cashflow perspective.
All the gear in country, all set to exploit Heron
Dissapointed about the local issues but not unexpected.
Overall very happy with what has been achieved. The icing will be approval of special purpose licence which reading between the lines isn't far away.
Great RNS , well done Mike and Board
Merry Christmas Matadores
2023 is going to be an amazing year.
And we wait…again
More carrott tomorrow to facilitate another fund raise. These delays and ambitions cost a lot of money.
No Lp
No Jv contract signed
No PC facilities contract signed
No progress
Why are these monkeys getting paid
Free council work to get the LP and stil told to come back next year.
At the local level, Petro Matad continued its close engagement with the communities in which it operates. To support local development, Petro Matad worked with local governor's offices to identify projects in Block V and sponsored a local volleyball team to participate in a national tournament, funded the renovation of 4 local administrational buildings, participated in a programme of livestock restocking and the construction of a water well for irrigation of trees. The Company contributed to tree planting programmes in Block V. In Block XX, discussions have been held concerning the multi-year local development programme. Whilst this programme is yet to be initiated, pending resolution of the land issue, as a goodwill gesture, Petro Matad together with its subcontractor DQE, funded the restoration of the Matad Soum landfill project.
Same old Sh.t just another day.
1p here we come
Mike Buck, CEO of Petro Matad, said:
"It has been a frustrating year for Petro Matad and our shareholders given the lack of progress on the land access issue in Block XX. We are hopeful that we are now reaching a new phase in the process with central government recognising that it needs to bring this access issue to an end through direct action.
Meanwhile, we are pleased with our progress on negotiations with DQE drilling and with the cost reductions that can make a real difference to project cash flows and asset value. Similar positive progress has been made on the Block V Exploration PSC area and we are excited about the potential to drill a high impact exploration well on the Raptor Trend in 2023.
I would like to thank our shareholders for sticking with Petro Matad this year and look forward to sharing further updates."
Just thinking if MB is where he should be ie Mongolia then it is very possible that this will be a recorded interview as the time in Mongolia is 01.00 - 01.30 and probably well past his bed time. In which case asking questions will be useless.
Also i doubt if he would try to stay up till this late hour if all he was doing was pass on bad news. Personally i would RNS the bad news and run for the hills. So why chose now for this interview he could have chosen any in either the run up to Xmas or even the new year. I think the news will be good and the question is when the RNS will come out. My guess would be Tuesday morning but he would still be alright with Wednesday morning becasue nothing could have impacted the markets before then.
Having said all of that i do remember an interview with another company just fairly recently where one of the board just read out an announcement in such a drone of a voice that i have heard the telephone directory read in such a way as to win an oscar. If this happens my advice run for the hills.
Dozzawba, thanks for replying, if anything this just adds more intrigue, I hope by Tuesday night we have some real clarity on the situation as sentiment here appears to be at rock bottom along with the share price. GLA
There's also this twitter post
B. Enkhbayar: The Land Law has been introduced following the Law on Permits. Only yesterday, the Parliament supported whether to discuss the Land Package Law
It is necessary to check the compatibility of legal concepts and the differences between the concepts introduced by the government
https://twitter.com/UBn_mn/status/1598530985418629120?t=6JcOAPKMlxgZjZzFkw7s4Q&s=19
Hi Jimi below is link from a post 2 days ago - heading translated as follows - so looks like 90 changes have been made. I think Land package law is different. Not sure if anybody on here can translate that is being said in the video
B. Enkhbayar: Due to the adoption of the Law on Consent, the Land Law is being changed among more than 90 changes made by the government. However, we supported the discussion of the Land Package Law just yesterday. Coming in a few days apart, the concept is different
https://twitter.com/Enkhbayar_bat/status/1598565051597787137?t=cmZq9aGsR8a0CkSOXww_HA&s=19
That's what should have happened if the company really enjoyed the support of MG. But, since the chatterbox MB was just talking about support, which actually never happened, I am sure that this decision has nothing to do with Petro Matad.
But this solution could be used if the MB began to act as a real CEO and not as a chatter or traveller around the globe.
Jimi ... that sounds like good news if I am reading it right. We live in hope.
GLA
Could this have any bearing on the LP
DECISION OF THE GOVERNMENT OF MONGOLIA
October 19, 2022
Number 377
Ulaanbaatar city
REGARDING ACQUISITION OF LAND FOR SPECIAL NEEDS OF THE STATE
Based on the provisions of Article 16.1.14 and Article 18.1.2 of the Land Law, the Government of Mongolia DETERMINES:
1. 20 hectares of land for the construction of a centralized facility for hazardous waste in the territory of certain Sum, Central Province, shall be taken for special state use, and the change of turning points of the land border and the size of the area shall be approved as annexed.
2. The Land Management, Geodesy and Cartography Department (A. Enkhmanlai) should be instructed to register the land acquired for special state needs in the land cadastre state database according to the appropriate procedure, sign a land use contract, and issue a certificate.
3. Establish a protective zone for one kilometer from the border of the land acquired for special state needs, and not to create a population settlement in the area, to engage in animal husbandry, farming, food production, service activities, and construction of buildings and structures. Governor of the Central Province, D. Monkhbaatar, should be instructed to take measures to prevent units and organizations from owning, possessing, or using land.
Prime Minister of Mongolia L. OYUUN-ERDENE
Minister of Construction and Urban Development B. MONKHBAATAR
I agree. ATB
Excellent post OST, I agree 100% with your views
What a laugh.
Mike has not only delivered a multi million barrel discovery but negotiated through some very challenging financial issues and all whilst running a very tight ship, in a young democracy, through a global pandemic.
You guys are absolute fools if you think MB has done anything other than the VERY best for the shareholders. Just because the process is slow there is absolutely no point in blaming Mike for your personal need to make a quick profit. The reasons for the delays and the process being followed has been clearly RNS'd but you fail to accept this.
It's both childish and foolish to assume the board hasn't been pulling every lever available to get the access sorted. If the local are not going to play ball the ONLY option left is to get the government to fix the access issue by linking exploitation licence with special access zone so that these issues are gone for good. This process is being debated in parliment.
I don't know what you hope to achieve by constantly and childishly making up a story to fit your agenda but it's boring and tiring.
Let's just see what MB has to say this week and we look forward.to you selling out at 4p and moving off to another board.
To temper expectation I personally don't believe there will have been significant progress due to the slow wheel of government, however it would be nice to know how the process is moving through the parliment and an overall operational update (which may, or may not, be via RNS)
To Mike and board. The real holders appreciate your efforts and we trust you will deliver production as soon as you can
Cheers
Ost