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MB is to blame. He had cash, time etc etc, but what he didn't have was vision!
Yes, we atill have time to fix it, but I doubt he could manage!
Difficult RNS to accept but equally all is not lost.
Not the progress any shareholder wishes for but there is time still available this year to make gains.
'When you see the next RNS then I hope you apologise , sell up and move on.'
Perhaps you should apologize!
Certainly market doesn't agree with you! Already %12 drop!
Enjoy,
Hi Hamm,
Still here , still accumulating.
Glad you have sold out now amd we don't have to listen to your constant drivel. You should note very clearly from the research note that Heron will be on production this year and 2 additional drills. Thats a lot of activity amd if people with short term trades want to leave I'll gladly continue to accumulate.
The fundamentals of this company have never been better and long term holders know where the share price will be once the above has been achieved.
Thanks for your constructive posts and general negativity, it's wasted, but what ever floats your boat.
Cheers
Unfortunately I was right!
Oh dear.
Money in your pocket guy/gals same old carp blame covid blame any thing you can think of ,work form home get well paid what a state the world is in .
2p V 1p!
Where is FA the risk v reward guy?
free fall sadly.
Guys,
Looks like this is going to go to 2p . Can't see this year being successful.
Paperwork takes forever in mongolia and we still have no rig.
There's nothing positive about the rns.
I'd buy more if I had the cash available!
reluctantly bailed our after being in MATD since Sept 2014 and buying more in 2017 and 2019. Just don't see there will be any significant progress for some time. Now watch the price shoot up....gla
Until this certification is issued, land use permits are required to be granted by the local authorities...
To date, in the province in which Petro Matad's Block XX Exploitation Area is located, they have not done so.
Petro Matad is not the only operator impacted in this way.
So which other operators are affected
To what extent have their operations been stalled for last 18 months ?
EXR.AX (different province ?) seems to have been progressing throughout this period.
Different Management/Strategy/Timeframe ?
Different Product demand ?
You need to open a free account. Main point says they expect the heron 1 well to be bought on stream as the equipment and crew is 'expected to already be' in country to do that, but for the 2 new wells, rig and crew are in China;
In order to execute its planned Heron programme, Petro Matad needs to engage the full services required for the programme, agree oil offtake with nearby producer Petro China, and secure all required clearances.
In terms of the required services, the equipment and crew for bringing Heron-1 onstream is expected to already be available in country, making this relatively straightforward for Petro Matad to engage. For the two new wells, a rig and crew will need to be brought in from China. Stringent China coronavirus restrictions have been hampering efforts here in recent months, but these are now beginning to be eased, increasing the likelihood that Petro Matad may have access to these services within the 2022 drilling window too.
In terms of offtake with Petro China, earlier this year Petro Matad agreed this in principle with the Mongolian regulator, and is in discussions around specifics with Petro China (an MOU is already in place between the two parties). This process has recently moved forward with the reopening of one of the two oil export routes into China as coronavirus restrictions have eased, auguring well for an agreement with Petro China to be reached and oil offtake capacity to be available later this year for Petro Matad, in our view.
Continued on next page/
Cant open it Headder. Its members only. Can you copy and paste?
One thing I can agree with Hamm is that those that presumed that land "use" naturally incorporated land "access" caused them to interpret the last RNS incorrectly.
You can keep an eye on the upcoming legislation and other news on the Mongolian governments webpage (which has an English language toggle button in the top right hand corner) https://mongolia.gov.mn/
https://research.arden-partners.com//view_repos/_eb301131-475e-4a60-8f7a-e10f84386502.pdf
The 2021 moratorium on Block V has extended the Exploration Period of the Production Sharing Contract (PSC) until July 2023. This allows the Company sufficient time to pursue further drilling opportunities on the acreage and, with success, time to secure an Exploitation Licence on any discovery made. Certainly looking like I'm in till next year then, let's see what happens in the next few months as there are still 5 more before end of season comes to a close.
Hamm, I will confirm am disappointed with the RNS, just means more patience, but can you answer one question.
With the comments posted on this BB today how are people ramping the company. Interested in what you class as ramping ???
Nothing has changed. Waiting on approvals and the border to open. Land access sorted at government level soon enough
"We continue the preparations for our 2022 work programme despite the bureaucratic delays, and our negotiations with infrastructure service providers are progressing. As we have said before, we are prioritising bringing Heron 1 into production and we are still targeting first oil this year."
Significant that the exploration permit was extended
" The 2021 moratorium on Block V has extended the Exploration Period of the Production Sharing Contract (PSC) until July 2023"
Plenty to like, delays are annoying but were latgely expected.
First oil 2022, all good
Absolute shocker achieved nothing
The good news is that Mongolia is hosting judo competition and secured a couple of medals!
But no idea why RNS missed that!
Enjoy your day guys,
100% a wasted year as we are coming to end of q2 and still not achieved anything in terms of paperwork which should have been sorted while no activities were taking place.
Guys who kept saying MATD has all the permit!
They still need local permit! FACT.
enjoy the next fall now.
That is THE RNS everybody was expecting!
Oh dear!
Rampers still defending MB /MATD?
guys,
Land access law and Chinas COVID-19 border policy both outside MATDs power... stop blaming the company fir things they cannit possibly control!
Negotiations are well in advance for WHEN the above ussues are resolved. Legislation has been drafted to resolve land access issues. Constitutional matters inc. changes in legislation are traditionalky announced during the state Nadaam which this year is between 11th -13th July.
How can a company spend that sort of money for doing nothing .
$5.3 mil for doing absolutely nothing.
Mike must be bad luck for Matd as nothing has gone right since he has taken over.