Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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b/p: Not really got started yet?
Well, for starters, check your spelling.
And then read Hamm's (your buddy's) posts carefully - that may be a new and enlightening experience.
So: When and with what do you intend to get "started"? Kind of stupid but that's b/p for ya.
I really like the last line.
God bless
I agree with you Hamm. But please don't expect any kind of truth or honesty from this crook. I do not exclude that something positive can happen. Its possible, but even in that case it will be not of his merit. As even a broken clock can show right time twice a day.
Okay -
//I can't believe you dare to post that type of **** on this board - OMG.//
But I haven't really got started yet !
b/p: "new drillings"? You can't be serious - worse than a lousy joke!
As Hamm explained (once again) in plain English - only dreamers would be thinking about "new drillings" at this time.
I can't believe you dare to post that type of **** on this board - OMG.
Manro, we have no choice. We are merely at the the mercy of MATD/MB for now!
MB has a chance to come clean telling us the truth. Pushing government to get LP sorted.
Mongolia can have as much cheap Russian oil as they wish who cares? and if that is the case really MATD isn't gonna affect them!
Best
For more than six 6 years now, this crook has been constantly misinforming and misleading us. However many of us continue to believe him. Here is what he said for example in August 2021 at AGM:
“…we start the next chapter of the Company's development from a position of strength and independence. As Mongolia's leading exploration company with proven operatorship capability, we are well capitalized for the next phase of activity. In addition, we continue to hold an excellent relationship with the Mongolian government, which is committed to developing the country's upstream oil industry. We look to the future with confidence and our committed team will work tirelessly to deliver shareholder value as we move into the next phase of development."
Unfortunately, today's realities in the energy market only play into the hands of such swindlers. Since the huge reserves of Russian oil and gas resources, blocked by Western countries, were at the disposal of China and Mongolia itself. Why would the Chinese, or even the Mongols, care about their oil when Russia offers it at a bargain price. Therefore the Chinese leader Xi Jinping on his first trip today to a foreign country in the last two years, namely Uzbekistan, where he will meet with Putin aiming to deliver Russian energy resources to China for almost nothing.
I meant a 2 week workover/ H1 extraction plus H2,3 etc.
I understand we are all fed up with exploration.
There is no point if we have oil but aren't allowed to put into production.
I guess MB should have decency and come clean if He knows that there is a certain purposeful unwillingness from Mongolian government not to put H1 into production!
It isn't fair to us after years of investing and waiting and losing hard earned money to be ignored.
It is time to have action from MB. He needs to explain really. It is stupid to wait for 3 years and still waiting for LP!
If locals were so keen about environment they should have stopped while exploring.
Come on MB show us that you are a decent person regardless of outcome. Come clean. Push the government and let them know that isn't the way they should have treated foreign investors.
Guys,
//If Matd starts drilling now by the time refinery is ready there would be more oil available and more expertise I guess.//
There's ample time for new drillings & that's MB's forte (allegedly). The only thing that will boost the SP short term is extraction & marketing of the oil already found - and it's not happening.
Ojay, hopefully MB reads this board and clarify the situation.
MATD still has got enough time to bring Heron1 into production if there is a real willing.
A lovely RNS would make all of us happy.
Have a lovely day guys,
Hamm: I assume your summary is correct and in that case I agree that it is about time for MB to "spill the beans" - irrespective of its impact.
Clearly, I am hardly the only investor who wishes that the obstacles preventing PM from finally extracting oil from H1 will be overcome soon, i.e. this year.
ATB
MB said in his interview that equipment is already on the way!
Now 6 weeks! Isn't it fair he comes and explains what happened!
Saying that the border is completely closed can't be true.
Come on MB have decency and tell the truth regardless.
Shareholders have been patient for a long time.
Time to tell the truth.
2 weeks and equipment will be in mongolia. It's in transit.
6 weeks after still jack all
That would be short minded stupid idea if that is Mongolia government policy!
If Matd starts drilling now by the time refinery is ready there would be more oil available and more expertise I guess.
I am still hoping that H1 starts shortly and end all the speculation. But if that is the case and MB knows that he should come clean and stops all activities if any and no more payment!
Guys,
I have been with PM for the past 4 years and read this board on a daily basis, I have a good size holding. I don't always agree with the views expressed by badprophet although on this occasion I think he has made a valid point ref refinery impacting on oil extraction date. We need the revenue from oil sales otherwise the working capital will dry up well before 2025. It's also possible China may have invaded Taiwan by then which might be a really large spanner in the works!
There is little incentive for GoM to expedite extraction of the oil for sale abroad when they want to use it themselves. The refinery won't be up and running until 2024 or maybe 2025 so I think we will have a long wait. Probably another cash raise coming at 2p ?
Well Mongolians have stretched it out three years……watch all local issues disappear when the refinery is due to open…..
I’ve said it all along…..hopefully my patience will one day be rewarded and I can finally sell my extended hold of 3m shares…..frustrating to say the least
What is amazing is that MB keeps saying the government has been supportive!
I can't really see any willingness in the government! Let alone supportive.
But what I understand is that either the government should pass a law and overrule the local local law or one way or another MATD gets the LP through direct negotiations.
Then MB doesn't seem has been living in Mongolia for a long time which makes it difficult for him to understand the situation.
In that interview MB said that the equipment is on the way crossing the border to the site.
Already more than a month now.
Oh dear,
Probably he wants but unable. In such situation the only way to satisfy himself and assert - its composing and telling us various fairy tales and steal our money ??
The interview was from 1st August so it is fairly recent and is pretty good and well worth a listen or another listen if anyone didn't listen to it earlier.
Everything is progressing very well - but MATD cannot start anything until the land access permit is granted. A full explanation of this starts at 5.45 minutes in.
I would doubt the equipment would have been mobilised unless we were sure it was needed.
This is the interview that I was referring to:
https://www.youtube.com/watch?v=AhPJ8a-I0mc&t=3s
If you listen around 8 min MB clearly explains the land access issue.
At 8.53 Mike Buck says "the reality is that without legal access to land we won't mobilise - until such time as we know that we can be there unmolested we won't mobilise. We are pushing hard to get the central government solution soon and we have an application lodged with the local authorities for their next meeting of the administrative body that will look at this as soon as possible". That is how it stands. Earlier Buck explains about MATD's efforts to get the land issue permitted at a government level but that is not how it happens at the moment and unless that comes into force it will still need to be issued at a local level and that despite numerous applications this has not been granted/issued so far.
Nearly 3 years and not a drop of oil, very poor performance to say the least :+(( GLA
If you had listened to the last interview, I think it was on this website, then MB clearly said that MATD were not going to be able to get the workover rig operational or plan further drilling until the land issue was fully sorted. Much like the wait for the Exploitation Licence, this is now just a sit and wait for the paperwork to be done. This is not a worry as the Chinese block already have the full land rights but for MATD nothing can be done until this is sorted.
ATB
Yet again more talk from MB and no action last official RNS was end of June and apart from an interview on LSE diddly squat.
What happened to talks with DQE. No further updates . No further updates on equipment that was due 4 weeks ago.
Time fast running out for this year's drilling season. What will be his excuse next year when the Spring arrives . The man simply can't be trusted on any front