Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Mongolia Oil price is benchmarked to Daqing oil price which is benchmarked to Brent Crude price if my memory is correct.
Daqing oil field which is located to the east of Mongolia on same geographical belt as Blocks 19 and Block XX was discovered in 1959 and went to production in 1960 with 16 Billion barrels and is the largest oil field in China producing 800,000 barrels at its peak. Current production c. 600,000 barrels
C and C
Block V has to be relinquished next summer. We have a couple of big prospects away from raptor in the Northeast Corner with 3D seismic (Fox and Phoenix) but unless we get some kind of extension it may expire before we can get to them.
As a bit of a punt I bought a few COPL at 2p. Unlike PM they DO produce oil but are laden with a lot of debt. Be interesting to see how they both pan out.
PS. I did think they would drill V2 whatever happened at V1 - hopefully I was wrong!
Good find Doc....well done re: Gervais Williams.
//Just wondering if/when they'll have another stab at it (once we have an income stream)//
I think it's sometime next year - but don't even go there! PM can't afford another million or two on another duster as much as MB would like to keep wildcat drilling.
Can anyone tell me how long we have left to explore Block V.
Just wondering if/when they'll have another stab at it (once we have an income stream)
The conclusion to the land permit is not just vital but is pivotal to this share price moving up. We all knew there would be a major tree shake but this has been a case of the branches trying to shake the tree rather than the other way round. However the failure of V1 means that the ultimate SP of around 28p (progressive research) is fallible as at the moment there is only one rather dodgy leg to stand on. We get that leg right then SP will come right.
However the 28p may well come achievable with the add ons that could turn this company into far more than just an oil exploiter and producer. I still hold the view that the meeting and set up of PM Energy is going to be something very big here and it is this that i am fascinated by.
Now i know that a lot of businesses set up new companies every day just in case an opportunity comes round and they end up staying dormant for years with nothing happening. But they do not always get set up in IoM with very senior members of another members country (including their Ambassador) in attendance and have a meeting that involves a very senior meeting with a chief finance operator from the IoM in attendance. My personal view is this will have something to do with Gas in one shape or form otherwise why call it "Energy". If this was going to renewables why not call it "Renewables" or "Green" which would attract far less attention in these ecologically sensitive times. Remember we were not talking about junior ministers or even doing this on line or have the senior finance man come into offices and not just do it on line and a quick skype phone call. This might just be the one that tilts this share from remaining for years around 15-18p range to one that could take t above 28p mark.
I expect all FORMALITY & first RNSs in July!
Thanks, Ninesandytoes.
Although I think my one line extract from the RNS backed up my point, which was that we are having to go back to the locals!
Think everyone know getting land access through bypass of law 2017 which give authority to Local council much different to completing "formalities" I structure by Cabinet which do not go against law of country.
Let us use common sense ;)
It took central gov 9 months to "expedite" the SPC for a project of "national importance"!
//There has been an instruction from cabinet to expedite this.//
There ya go - making stuff up again! The word "expedite" does not appear in the statement - it says "conclude".
Lets put the whole paragraph in there.
The Cabinet approved the certification and also instructed officials to conclude the follow up formalities required under the Land Law. The Company will now work with the central Land Agency and local authorities to complete the registration of the area and to sign the necessary contracts required by the regulations on the management of special purpose land. In parallel, we are already in discussion with service providers to determine a timeframe in which crews and equipment can be available for the completion for production of the Heron 1 well.
So the company is working with the Central Land Agency and the Locals. There has been an instruction from cabinet to expedite this. I would imagine that's why the Central agency is involved. To make sure the locals, who have now been overuled, play ball.
WOS - as always, I truly hope you are correct.
But you know that history tells us nothing is typically straightforward with MATD. For example, the mining minister told MB 1-3 months, it turned out to be 9 months!
However, by using the word formality, you really would think this should be a quick process (i.e. weeks not months), albeit when I see the words "the company will now work with the LOCAL authorities..." to get this completed, it does send a shiver down my spine!
- RNS Formalities confirm
- RNS DQE
- RNS Heron Operational confirmation
- RNS Heron Workover
- RNS New Block confirmation (terms agreed)
- RNS Renewable news & near term revenue
Ready for PANTS DOWN ;)
Just look in quickly at BB. Have to say LOL.
Petro Matad have plenty cash & why statement in 20th June RNS say "Cash until AT LEAST July 2024"
This was said only 3 WEEKS ago & people here want statement from mr Buck LOL. We all know what really happening here with this posters.
When people say but mr Buck did say before no placing then placing maybe they also look at strategy growth with Renewable JV / New Block and other.
Think now with LP look like FOCUS is in Block XX development. Follow up paperwork is FORMALITIES only. This word was used in RNS and with direct instruction from Cabinet.
FORMALITIES does not mean special process or law change lol.
Maybe better to focus on fast track operation to revenue generation now & not INVENT problem that is not there ;)
Very soon RNSs will flow
Be Happy but honest with posting ;)
Tend to agree with you Doc, looks like we will need to sit tight for now. It wont be long however.
//ps, found out today that Premier Miton, who run a few small/microcap funds and is run by Gervais Williams, has a position in MATD. He is highly regarded in this space and exactly the type of guy you want to seeing owning your stocks//.
Now, see... THAT'S newsworthy.
Last 47 trades... only 3 sells.... come on you jokers let it go
After a few largish sells before 10 the buys are now starting to come in.With the price around the price before the LP came in there is a long way to go.At these low prices there is only one way now to go.Looking forward to next RNS
Is there a reason for the price comparison to Brent? Is HERON sweet?
Markets
UKWorldCurrenciesCommodities
Silver $23.14 Positive +0.01 +0.04%
Gold $1932.18 Positive +7.34 +0.38%
Palladium $1229.46 Negative -11.12 -0.90%
Platinum $924.60 Negative -6.00 -0.64%
Oil WTI $73.70 Positive +0.64 +0.87%
Oil brent $78.34 Positive +0.58 +0.75%
If Gervais is running with it, looking good. wonder if hes shared. like him, good man
I suspect the SP hasn't really took off because of this:
"The Company will now work with the central Land Agency and local authorities to complete the registration of the area and to sign the necessary contracts required by the regulations on the management of special purpose land."
We're still not quite there. Perhaps, given MATD's history of the unexpected happening, the market won't rerate us until it sees a barrel filled with oil.
I'm undecided on cash raises... I guess it depends how long for these so called formalities to be completed but what I will say is that even if MB came out today and said we didn't need a raise, I wouldn't believe him after what he did earlier this year. But the markets may also be conscious of it being a possibility, no matter how small.
Or it could all just 100% be down to some shady MMs controlling the world :/
ps, found out today that Premier Miton, who run a few small/microcap funds and is run by Gervais Williams, has a position in MATD. He is highly regarded in this space and exactly the type of guy you want to seeing owning your stocks.
Ojay i already told you my views.. so be a good boy. Ramp this stock to over 6 this week and you will not hear from me again. Or better just put a buyorder in at 6. Or also not allowed any more shares here?