Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Mr Master. You hold share after all that crying this morning 😂😂
I am not here for excitement from Mr Buck presentation skill. What make me excited is analysis of actual investment & growth prospect of this sir.
If I cannot wait for this I will not be screaming & wetting pant on BB. I will sell 😂
Be happy & wait for RNS or take action which back up hysteria on BB and sell.
Strong Buying now!
Good luck 🦉
We have been aiming to assist the regulator and the AMGTG in promoting the issuance of special exploration permits. Although the competition for "Petro Matad" will increase, I would like other operators to enter Mongolia. The licensing phase was somewhat successful and several applications were submitted. For us, we want some big companies to come in. Because Mongolia offers a very large area. But, of course, a little more money will be needed to carry out the exploration work properly. This means that only large companies can do this.
Currently, the competition among companies in the global exploration sector is fierce. In addition, I would like to see new investments in the hydrocarbon industry in Mongolia. In terms of how to support investment, the Ministry of Finance has put forward a specific proposal. I think some of them were promoted by their superiors. For them, they are working hard to promote special permits. It's great if you can get it, because I think there are very large fields in Mongolia that can be well-resourced and can be used
When production starts again, the oil will have to be supplied somewhere. So, until the oil refinery is ready, it will be necessary to build a pipeline to the place where the "Crane Crane" field is located. And they are interested in using "Petrochina" factories and export outlets. Because we see their operations as very effective and have high reserve capacity. I think it is in their interests as well.
It can be said that our company is very lucky. Because, as far as I remember, Petrochina has been operating in the fields of the project since 2005. There are also facilities with spare capacity next to it. Some time ago, while trying to obtain a special operating license, in discussions with Petrochina, the Tsengoru field signed a memorandum of understanding to use their facilities and export capacity.
We did not agree on the details of the trade at that time. But at the moment, we are discussing details of the trade, such as how much it will cost to deliver our oil through Petrochina's factories and export routes. These talks are being held in the framework of the final clarification of the delicate issues. Because of course we want to be able to start production as soon as possible
We do not have enough time left to acquire the license for the area, so we intend to move quickly. "Block 5" has put a lot of work and money into it, so it will use all the resources it has. However, time is short, so I intend to do it quickly. The central region has high potential for hydrocarbon exploration. An area that has not been sufficiently explored. Our company cannot own all the fields and do all the work alone. I would like other companies to participate and explore in the southern part of Mongolia. Because the geological situation is very similar to the northern part of China. China has discovered a lot of oil in that region. Therefore, I think it is possible to discover resources in Mongolia as well. For us, drilling 3 wells in the central region of Mongolia was very effective. Several stratigraphic holes were also drilled. Of course, finding resources in border areas will take longer than that. But I would like to mention that there is still a good chance. "Petro Matad" believes that more should be done. We are applying for more land. I want other companies to get involved and explore as well.
Wise. Got enough here . There is no way I will buy anymore until I see some progress.
Does it excite you when MB gives an interview. No because he is a slacker who has had no real progress in the past 5 years.
He just doesn't give holders any confidence. We pray that he keeps quite and doesn't open his mouth. Just like this interview nothing new has come to light.
You still don't get it. MB got us into this mess . Not the locals.
Well Velociraptor-1" was dry. We are analyzing every rock drilled in that well to determine why this well failed and failed to find a resource. Because if only that well can be determined to be unreserved, it is not a bad idea to drill the next well nearby. On the other hand, if the field is determined to be unreserved, there is no need to continue drilling.
Yes, our activities were postponed to 2021 and 2022. This is mainly due to the lack of technical and technological capabilities due to the pandemic. We had the opportunity to drill a well in Block 5 this year. Unfortunately, the borehole was dry. But I don't regret drilling. We are analyzing the results of the drilling. This will provide useful information to aid further exploration in the area.
EXCELLENT & THANK YOU Mr Hamm
We have had very active discussions in recent years to identify key issues and find out how to address them. For us, there was a time when we were active in the near-missiles. We intend to expand this participation. In addition, due to the possibility of continuing the development of the field, we are actively working in the provincial center. In this way, it will be easier for us to establish relationships with the people we need, and it will be possible for local residents to communicate with us without having to go to Ulaanbaatar or via Facebook. We are just trying to establish a stable relationship. In this way, we can prevent any problems from worsening and causing further problems in our operations. We are working to improve Mongolia's energy independence. We intend to do this in an environmentally friendly way and in cooperation with the local people.
Think mr Master QUICKLY Buy back in after hysteric this morning 😂
Thank you mr Aeschylus. Herder agreement very important before local govt sign certificate. Now condition for "formalities" look like they are complete.
Think maybe who get mr Mike Buck interview slot on Bloomberg Mongolia?
Full backing of Govt, Ministry, Regulator & Land Agency for production this year.
Rocket coming I think with all other things (DQE, New Block, Multiple near term Renewable contracts) in 1 or few RNS 🚀💰
I have all my share so relax for this 🦉
Our company and relevant regulatory bodies have contacted all herders whose pastures are affected by mining activities. Everyone agrees with us. All agreed on compensation or new pastures. Once we have taken all the necessary regulatory steps with the government, we will be able to resume operations. Our current first goal is to complete the production well "Crane Crane-1". After completing the drilling of the hole, we perform a "drill stem test". Now to move to production, the installation of the equipment below, the placement of the pump above, and the reservoir for oil storage are missing. In addition, he is about to sign an agreement with the operator company for the sale of oil. Currently, our main focus is on these.
With the 2017 regulation, there are now a few more steps. There are steps that need to be taken by the government. Petro Matad has not entered into any of those contracts. Currently, the process is ongoing between the local administration and the government. The herdsmen who have registered pastures should either be compensated or given new pastures. We are discussing this with the government and focusing on speeding up the process.
Solodgeblue kindly posted the link for us at 10.29
https://youtu.be/173HFppJcjw?si=bYeWz_rtxo7k82jd
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Харин 2022 онд цар тахлын талаар Хятадын авч хэрэгжүүлсэн арга хэмжээнээс шалтгаалаад дотоодод нь тасалдал үүссэн. Маш олон гүйцэтгэгч компани, ялангуяа Хятадаас үйлчилгээ их авдаг газрын тосны салбарын хувьд Монголд ч тасалдал үүсэхэд хүрсэн. Тиймээс 2022 онд үйл ажиллагаагаа эхлүүлэхийг зорьсон. Цар тахлын нөлөө үргэлжилснээс гадна газрын тухай хуульд шийдвэрлэх шаардлагатай зөрчил байснаас газар ашиглалтын хувьд хүндрэл үүссэн. Эцэст нь энэ оны долоодугаар сард Засгийн газраас “Матад-XX” ашиглалтын бүсийнхээ ашиглалтын тусгай зөвшөөрлийг авсан.
Kharin 2022 ond tsar takhlyn talaar Khyatadyn avch kheregjüülsen arga khemjeenees shaltgaalaad dotoodod ni tasaldal üüssen. Mash olon güitsetgegch kompani, yalanguyaa Khyatadaas üilchilgee ikh avdag gazryn tosny salbaryn khuvid Mongold ch tasaldal üüsekhed khürsen. Tiimees 2022 ond üil ajillagaagaa ekhlüülekhiig zorison. Tsar takhlyn nölöö ürgeljilsnees gadna gazryn tukhai khuulid shiidverlekh shaardlagatai zörchil baisnaas gazar ashiglaltyn khuvid khündrel üüssen. Etsest ni ene ony doloodugaar sard Zasgiin gazraas “Matad-XX” ashiglaltyn büsiinkhee ashiglaltyn tusgai zövshöörliig avsan.
But in 2022, there was a domestic disruption due to the measures taken by China regarding the pandemic. Many contractor companies, especially in the oil industry, which receives a lot of services from China, have experienced disruptions in Mongolia as well. Therefore, it is intended to start operations in 2022. In addition to the continued impact of the pandemic, problems arose in terms of land use due to conflicts that needed to be resolved in the land law. Finally, in July of this year, the government received a special license for the operation of the "Matad-XX" operating zone.
Whilst i do not disagree that MB should go i certainly do not think now is the time. Let's get producing then try but to be honest i do not think you have much hope unless Petrovis go along, because with Petrovis and MB's 11m shares then i cannot see much hope of him being ousted.
We discovered the deposit in the second half of 2019. A production sharing agreement was required before obtaining a mining license. It has been a very long and protracted process. I think there were only two such cases before, the last one was in 2012. So, about 10 years ago. The process was inefficient and therefore not very clear. That's why it took so long. Finally, in the middle of 2021, it received a special permit from the Ministry. Of course, it means in the middle of the pandemic that happened in the world. After that, most of the countries of the world came out of the pandemic and began to go back to normal life.
Thanks for the update Aeschylus. How do we access the interview?
Yes it was. Verbal confirmation that the herders understand and have accepted the situation and are in agreement to move.
Surely that should please even the most anxious/risk averse and that we are making progress on the formalities (if not at the speed wanted).
Well that was worth waiting for !!!!!!!!!
Turning on Subtitles in Settings is helping a little
I'm just listening to the interview. It heavily overdubbed by a Mongolian translater so its hard to listen to BUT I clearly heard MB say that the herders had agreed to the proposal to relocate (at around 2 minutes 30 and 2 minutes 45 seconds).
Master82: Do you see any reasons for which MB should remain CEO? Do you believe that MB still has the PM BoD's support?
I’m just about to sit down and listen fingers crossed
https://youtu.be/173HFppJcjw?si=bYeWz_rtxo7k82jd
Reasons he should go..
No permit from locals hence this messy situation.
Incompetent
Has told too many lies
Bad communication
Cannot face shareholders
Not paying attention to his job .
Situated in a different country even though we have huge problem
No negotiation skills
No JV contracts at any level
No preparation in advance for Oil production
Awarding shares with no achievement
Wasted money on wildcats
Hiding information from shareholders. (Like 2019 Court case and judge threw PM out of heron field)
Clearly a failed CEO who had no clear vision and has no clue in to running a successful company