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Zinda MN is a Mongolian media news company. this if from today (nb not Petro Matad before anyone has a heart attach on reading the first line!)
Some oil product sharing agreements are to be terminated
"Renova Ilch", the contractor of the Kharus II field of oil exploration, "South Mongolia Land Oil", the contractor of the Nomgon IX field, "Mongolia New Energy", the contractor of the Darganga XXIV field, and "HongKong Velpack", the contractor of the XXVIII field, which failed to fulfill their obligations under the oil production sharing agreement. L. Bayarmandal, head of the Department of Minerals and Oil, was instructed to cancel the production sharing agreement between 2015-2016 and to take measures in accordance with the relevant legislation.
Compared to the 2016 census, the number of enterprises and organizations increased by 61,000
In accordance with the government's decree "On Conducting Enterprise Census", the seventh regular enterprise census was held online for the first time in November-December 2021. D. Amarbayasgalan, Minister of Mongolia and Chairman of the Government of Mongolia, made a presentation to the Cabinet about the results of the census and the measures to be taken in the future.
In addition to studying the products, services, direction of activity, location, contribution to economic and social development, business status and attitude of enterprises, organizations and individual entrepreneurs registered to operate in the territory of Mongolia in this regular census, as well as sustainable development It was characterized by the creation of indicators necessary to evaluate the objective criteria.
The census included 180,000 enterprises and organizations and 53,900 self-employed persons, which is an increase of 61,300 (51.7%) compared to the previous 2016 census. 14.1% (14.9 thousand) of enterprises (105.5 thousand) included in the census and which have not operated in the last two years want to be liquidated.
In connection with the presentation, the results of the 2021 Census of Enterprises will be reported to the public, suggestions and recommendations for measures to be taken and implemented following the census will be developed and submitted to the relevant authorities, statistics, records, tax, and financial reports reported by enterprises and organizations to government agencies and coordinated. The meeting was instructed to take relevant measures, create a unified database of enterprises and organizations and create an opportunity to use it for the development of policy development based on research and analysis.
According to the Law on Statistics, the enterprise census is organized every five years.
Brief news:
Prime Minister L. Oyun-Erdene instructed the Minister of Mongolia and the Head of the Cabinet Office to organize the open announcement of the selection process for the CEO of "Erdenes Mongolia" LLC.
I must admit I got into this like... 3 years ago now before the find, thinking it'd be a few month flip as my first ever investment, it's been a learning curve having to be patient and not jumping out, I've only got 250k shares that have cost me about £10k so I'm not exactly a big player
i see BLOE are up 30% just on announcement of commencing drilling... cant wait to see what we go up when are production figures soar.
SYFreshPrince Thanks, I'm not a trader so don't mind a long delay on a potential decent share, I've no idea how some people put tens of thousands on a share till lunchtime €:D Thanks for the info!
Decent rate**
Been a ton of dilution since then, share releases to raise capital ect, just before covid it was a decent rare ahead of news of the oil find, then in dropped away as covid delays and license worries caused a lack of faith, dragged it heels alot since then with occasional peak when news of another step being completed came out, much the same now, just waiting for stuff to happen as it seems nothing happens quick there.... Season ends soon so it's likely at this point they won't be in production till next year imo, we shall see
D1nger and everyone who took the time to reply, really appreciate it, and I'm currently looking at the environmental protesters 0_0 Have a good Monday!
J.A.B
Quick summary from memory. Doug McCaig, CEO in 2011 had skill in writing RNS’s releases which whipped shareholders into a frenzy but turns out he wasn’t very good at finding oil. He drilled block XX in the wrong place. Our current CEO Mike Buck has however drilled in the correct place in block XX and found oil. Estimated recoverable of circa 60million barrels. Local access permits and covid border restrictions have delayed planned exploitation of area.
Extensive surveying of blocks IV and V provided Matd with estimates of between 9billion and 23 billion barrels of oil.
Drilling in block IV proved unsuccessful. The exploration licence for block IV has been handed back.
Block V has proven oil and planned drilling of the Velociraptor area has also been delayed due to covid border restrictions.
There is huge potential here, you’ll just need a lot, and I mean a lot of patience.
That’s why a lot of us continue to be invested.
Good luck, whatever you decide.
@jimthebrush. Thanks also €:)
// there will be the usual rampers, de-rampers, Trolls, time wasters, disupters, 'experts' suffering from the Dunning Kruger effect, and people who post mainly to make themselves look good //
Only 2 types om here mate - the rampers & the evil dead!
https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/final-results/201106210700067485I/
So will be looking at it with interest.
@Ojay. Appreciate your concern, I'm not diving in deep here but it's still my money!
J/A/B: Well in that case good luck with your dissection and evaluation of the information you get - hope you know what is relevant and helpful to you.
As I said and as you (should) know: You need to do your own research.
Thanks sj74, I will have a look at that. I did wonder why there where so many shares!
PS.... From posters who have some experience and wish to share it €:)
Have a look at this link, gives you a bit of an idea:-
* Exciting times for pretty much all junior explorer type companies in 2011 with alot gaining big market valuations.
*MATD only had just over 100million shares a decade ago, now not far from 1 billion.
*That said, if this company does begin to produce then confidence will begin to increase here, and the money made can go towards new wells without the dilution it has been accustomed too. Not far from a tipping point here? Atb
https://www.proactiveinvestors.co.uk/companies/news/22864/petro-matad-starts-to-make-significant-waves-27263.html
@Ojay, well I'm not so naive that I think I will get loads of good information, there will be the usual rampers, de-rampers, Trolls, time wasters, disupters, 'experts' suffering from the Dunning Kruger effect, and people who post mainly to make themselves look good or feel superior. But within that, I might get some information that is relevant and helpful, will see.
J/A/B:
I'm surprised you would be interested in any information provided to you on this board by a poster who claims it to be relevant to the "valuation" or anything else.
Good luck with that query. DYOR
Hi all, short term holder first time on here poster. I'm hoping I can pick the brains of the long term holders. I've looked at lots of posts here about the current situation, and news reports, RNS on developments etc for the last 2 - 3 months, bit there's a lot to wade through. Looking a long way back, the SP was humongous compared to today. I can't find much in the way of news reports from that time, so long holders, what changed? And was that 'valuation' based on anything that is relevant now? Appreciate any information!! Cheers.
paid not payed, I don't think you meant to say that?
// MB has ordered crew and kit in for just standing around and being payed,//
I don't think you meant to say that? Or maybe you did - hm.
An RNS could land any time now. 10 new government ministerial positions created and put to work immediately, to report back mid September, plus a reshuffle. Activists are not happy! Things appear to be on the move all if a sudden in Mongolia. GLA
Like I said I think September should see things kick off, MB has ordered crew and kit in for just standing around and being payed,
Found this article and it's the last paragraph I find interesting, PC seem to be involved with a lot of new and emerging energy companies, hope we here something soon, not much time left until the drilling season endz.GLA
https://www.naturalgasworld.com/tmk-energy-expands-mongolian-drilling-programme-100579