We would love to hear your thoughts about our site and services, please take our survey here.
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.
Wos - I agree totally. I don't know why some are still saying that the SPC is necessary. It was always the plan B option when PM was being frustrated at the local level, as the wording of that 22nd Sept 2022 proves.
Aeschylus with that statement i agree.
But beware afterwards ;)
Well its crystal clear to me. The delay is sspc will not affect Heron operations for 2024.
Hilareous. Yes operations can start with only local signature BUT need the other to be safe longer term... ALSo for Heron according to analist....
When a company rns is not crystal clear it is usually not a good sign.
Doc up to you: trust Wos or progressive ;)
Aeschylus - you're welcome.
Doc83 - the Progressive Research document dated 04/03/24 merely says that ' the company still faces a delay with the SPC. ' This is true enough, however the report also states ;
' PM has announced that its application for land access for 2024 operations has been approved by the Matad District Committee. This means that a land use agreement can be prepared, which, once signed, will allow operations to proceed, including the completion of the Heron-1 discovery well as an oil production well. This will allow Petro Matad to start generating cash flow that can be used to grow the business and add shareholder value. "
It doesn't state anywhere that the SPC delay will stop them from going ahead.
Thank you Mr Aeschylus.
I KNOW what I know and stand by this - do not need it for Operations to start to develop Heron field.
In the "longer term" is something else because of Special conditions in Special Certification which cover more then just local Permission.
🦉
Doc. Latest RNS. It is not needed for Heron
This approval covers all the areas in which the Company wishes to operate during the year. The approval means that the land use agreement can now be prepared and signed by the District authorities and by the Company and it will allow our planned operational activities to go ahead whilst the Special Purpose Certification process is completed
WOS: "Special Certification NOT needed but as you say better to have it"
But the Progressive research note says completely the opposite?:
"in the longer term the company still requires State Special Purpose Certification of the Exploitation Area, which entails a number of regulatory steps."
Researchandhold said //BP is like a stain on humanity//
// the new sp price will wipe put all those tiny wins//
20% a go isn't to be sneezed at if you do it enough. And the LP rise if/when it comes isn't guaranteed to be massive. IMV
Https://www.facebook.com/share/RbTeRFt3wgcXqYzk/
Good news is on its way
Correct Fin.
With every rns people it is it only to find out it is not...again.
Maybe fin, but if the "signed sealed and we are delivering" RNS drops whilst playing that game, probably means that to buy in at the new sp price will wipe put all those tiny wins and all that trading effort 😄
These little beauties are going to do it again aren’t they?
You get an RNS spike to 3.50 where you sell. Then wait until it slides back to 2.70, rinse and repeat.
And that sums it up thanks investor
Pro ; From the 22nd September 2022 RNS ;
"Multiple requests by the Company and other operators for land access permission have been rejected without explanation by the local authorities. Anticipating this situation at the local level, Petro Matad pushed for central government to take action to certify the Company's Block XX Exploitation Area as a Special Purpose Area, streamlining the approvals process, and to remedy the contradictions in the land law."
These two RNSs ive posted give the history
5 may 22
Block XX Exploitation Area
Petro Matad has continued to engage with local and central Government to secure all necessary permits. Local officials remain reticent to discuss applications due to lobbying on social media by a vocal minority protesting against industrial activity. This included at a recent local meeting when allegations were made about the Company's Environmental Impact Assessment despite the fact it was prepared as per the regulations and has been approved by the Ministry of Environment.
For issues that cannot be resolved locally, Petro Matad has sought input from central government and this strategy has resulted in progress on the long-running land issue. In late April, the Cabinet of the Mongolian Government issued a resolution directing the certification of exploration and exploitation licences by the central Land Agency such that local approvals on land use are not required
25 feb 22
Athe same time, efforts are continuing apace to get the government to remedy the legal contradictions related to land access and usage issues that have previously impacted the work of Petro Matad and other operators in Mongolia. We are advised that proposed legal changes confirming land use rights, including input Petro Matad has provided, are working their way through the approvals processes within the central government.
At the local level, provincial and district authorities have been unwilling to discuss local land access applications pending direction from the central government. Petro Matad is working at both central and local levels and recently made a presentation to the local authorities that administer the entirety of the Block XX Exploitation Area. The presentation was well received, which is a positive step forward in securing the permits required. We continue to push at the central, provincial, and district levels to secure the permits required for the next phase of our activities.
Mr Investor
Special Certification NOT needed but as you say better to have it - it give extra level of protection so why not & with growth that Petro Matad expect
But OPERATIONS clear for drilling season!
Didn’t MB mention they are willing to work with PM as they all went on a trip to see how locals are benefiting from mining in different province.
The only thing that is holding it up is the land overlap.
I can’t see how that is going to stop PM from operations in 2024
Mr Doc
Special Certification was to "expedite" process because of Local (District - Matad Sum) opposition using 2017 Land Law.
This is reason Special Certification started while Land Law amendment go thru Great Khural
BUT NOW COMPANY HAVE LOCAL PERMISSION - OPERATIONS BAVE GO AHEAD.
Local Matad Sum (District Council) will draw up paperwork because this is all Petro Matad needed.
Provincial Governor only there to sign Special Certification paperwork which is NOT Local Permission paperwork!
Hope that clear - do want to stop posting now please 🦉
Aeschylus : it stated in a previous RNS that the special purpose certification was being pursued as a plan B.
It would be daft though not to finish off the process given the time and effort which must have gone into it, plus with the government having already approved it. I don't believe that it's necessary now, however it's another insurance policy which is extremely useful to have anyway.
Aeschylus read rns september 23 again i would suggest.
Investor33 you can believe what or who you want. Your money your call.
I like to do research so i called to company to ask classification. Unfortunately no luck so as a second best went to analist who spoke management and what i typed is how i see it now. Lets see