The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
I still stand by my personal view that the land permit will come in September so we can’t extract until next year, get the fields in place just in time for the refinery being ready the following year ensuring a good supply of oil for it.
What’s interesting in last RNS is it said mining dept had finished its paperwork for submission and the new dept is now redoing it all (a delaying tactic if ever there was one as any common sense would use comments already submitted).
So if mining dept had finished and was ready for submission that says to me the paperwork took 2-3 months and thus in theory that’s the max we should have to wait for submission to cabinet …..
It amazes me how rampers still insist it’s not being delayed on purpose. Funny how the pipelines got the go ahead so easily!
Also makes me think local govt has been instructed to delay it.
We will get the permit and I’ll be as happy as anyone if lands soon, but I think personally we are a few months away still.
Mike Buck should on behalf of shareholders not raise or drill further until we have the licence and are producing , once we have income we will be able to get loans to drill rather than constantly issue more shares…….as it stands if we hit at next drill we will have a long wait for exploitation licence which will once again restrict any share price increase as we’ll still be non producing…..
Thornogson
You are right the long term is very exciting and could be massive when we get to hear them but as you say LP first. As to sounding like children from the back seat asking are we nearly there the answer is yes we are but the driver told us we were nearly there over 6 months ago and still we are driving. If you were still driving after 6 hours you would admit you were in a traffic jam or had got lost. In this case i think it is a bit of both we are in a jam but at same not entirely sure which way to go. In which case i think the child has a point.
Badproof, sorry didn't have time to have a look here, that's nice your sitting down with a cuppa and enjoying the bulletin board on a Sunday morning where you are not invested,
I would like to ask you why this board is so special as we don't seem to get an answer from you?
Unfortunately I do t enjoy this board as much as you and currently in the bog as I write to you,
Is very obvious most poster do not do research or read industry report so do not understand what actually us happen on Govt level & why Petro Matad so strong position.
Interview with Mining Minister mr J Gambaatar few day ago he mention about Xcalibur Multiphysics who I talk about weeks ago & they work with Govt on data & mapping.
He say "this is another duty of the Minister to attract investors. This is the best news for investors"
Most BB poster do not understand and why have excitement or breakdown over small penny price move. Some of us know from research what really happening here & why I say mr Buck is master strategist for company & shareholder even if BB expert think different :)
'We need'
'plan b, c and d'
'We need a definite date'
We?
Me, me, me?
Mr Buck is running an Oil Exploration and Investment company, that's his job and he appears to be doing it to the best of his and the company's ability.
Your job is either to invest in that company or don't.
But seeing as you want to know the plans Rookie here they are:
1: Obtain Land Permit from Mongolian Government to extract oil from the Heron Field.
2: Drill the Raptor Trend Summer '23 to hopefully discover larger oil fields to develop.
3: Obtain further oil blocks from the current Mongolian Government process.
4: Plan and start to implement their longer term Green wind and solar power energy projects.
The above to be paid for from oil revenue, borrowings at commercial rates borrowed against estimated oil reserves or via further funding rounds with Shareholder dilution.
It's not complicated. Believe and invest or don't. Simple.
Or just continue sniping from the side lines like a whinging child on the back seat.
'When will we get there? Are we nearly there yet? I'm bored!'
Https://twitter.com/smasters2020/status/1665281897528786949?t=MumihDP1jRGRmKpLQKqJcg&s=19
Mongolian government might have a clear vision for future but it wouldn't necessarily mean we have the same interests.
National importance might mean different from MG than we shareholders. For us national importance means LP granted fast but for them might be LP delayed as much as possible. You used to say LP coming soon it could be any day, now it comes 'just' before spud results! Why it should be just before spud results? And if it doesn't come just before spud results or even after you would say it doesn't matter this year or next! Well darling , We have heard the same wording again and again. 4 years or so. Time to get LP if not expect placing.
https://m.********************584017169244932/permalink/1041902580123053/
https://m.********************58-----
We need MB to tell us what is plan b c and d etc if LP is not given soon, we need a definitive date, when and will happens. Simply stating at this late stage that everything is being done and nothing more can be done but wait is not really good enough. Do we wait 1 week, 1 month or 1 yr? Or even longer? How much longer?
https://m.********************584017169244932/permalink/1041902580123053/
https://www.********************584017169244932/permalink/1041902580123053/
read this report and it will give you an idea of what the government is planning.
this part 2 of the 3 reports. the others are not pm related
https://www.********************584017169244932/permalink/1041902580123053/
Think Mongol Govt have clear vision & good leadership NOW. Maybe not before but thing have change a lot. If do not understand this no problem.
Think they know enough how to build country & why New Vision policy in place. Text book logic only happen in BB where everyone have own idea how to run economy lol
Everyone free to make own decision Buy sell or hold so LP before spud or after not problem on my investment time.
Will come & happy for this so enough & with chance to build up my holding size :)
With no LP and V1,V2 spud with $4m cost (regardless of the drilling results ) we definitely heading for the next placing.
MB needs to get LP now or we where would be heading! Now you keep telling us rosy stories but they are all dreams unless we get LP secured today and tomorrow.
Sounds like a great plan and idea but at the moment that is all i see. A whole lot of ideas and very little cohesion. You need to learn to walk first before you can run the reason is very simple because if you run first you will not get very far before you collapse. ATM what Mongolia needs is some clear leadership and must admit from afar i do not see it. The latest debacle with the LP moving to the MMHI is the latest. A good leader would have foreseen this being an issue and given it to this department in first place or told the MMHI to get off their high horse as if they wanted it they should have taken it in the first place. This is management by committee and all you get from that is a mess. ATM we have a whole lot of people who have read whole lot of business text books and no idea how to implement them. So WOS save you grand schemes of what PM will become what is more important is what we want to become now and that is an exploiter of oil. This needs a firm hand and a strong leader not one who is prepared to let everyone have a go. IT is what i once described as Autocratic Democracy. AD is when everyone has a say but at the end you all do what i say you do or in this the leader makes the decision. If you do not like making decisiions then do not become a leader. LP first then start moving bit by bit to making PM and Mongolia into a multifaceted company as you describe. LP now not sometime in June but this week.
First thing first. LP should come before spud not before spud result or the share price will stay where we are if not lower!
We have been promised year after year but nothing materialized yet. IOM hide and seek! If important should have been informed the resean/result. MB seems likes to be cagey. As far as I understand good news comes fast. As long as MB sitting in his office and just sending letters nothing would happen as it hasn't in the last 4 years. All we heard till now is advance talking, everything is getting ready, at the last stage, needs just stamp bla bla bla.
I am still hoping we get LP sorted at the next RNS.
Petro Matad Energy Ltd. company set up with Govt / Regulator / Ambassador in person attendance in Isele of Man
Do not see ANY problem with land access issue & why Govt did take direct control through MMHI and put through Special Certification as Project of National Importance.
Expect this BEFORE V1 result & dud say why before with Ministry transfer which must have happen before RNS update date.
Buy, sell hold check gas meter no problem. One who really see what happening is happy with holding :)
See big picture behind BB logic & understand why some look for triple digit development of Petro Matad into Multi Factor Energy Company.
All sign there & obvious with wide intel & research. Also check Mongolia Vision 2050 & New Revival Policy then maybe understand IOM meeting ;)
"Minister of Energy yesterday (June 2nd 2023) introduced Law on Enterprise Income Tax & Customs Tarrifs"
As part of New Revival Policy "Renewable energy will be developed. Energy sector will gradually be transferred to an INDEPENDENT financial and economic system. The energy sector will implement large scale development projects of National Economic Priority".
Do not miss forest because cannot see what happening with Petro Matad as develop into major Energy company partner with Mongol Govt.
This is very special investment ;)
Morning rich - here again with my early morning cuppa - any snide comment you'd like to make? You're welcome.
Shiny happy peeps 😉
Starting tomorrow, has more positive stuff in store for us than this weekend.
Not sure myself but this will be a very exciting drill teh last one encountered oil shows so I guessing buck is very confident in this drill, has to be either oil there or some oil shows and if oil shows we drill another, I think Mike knows his gonna hit oil on one of them,
Also could be no oil but here's hoping the geologist know what there doing, add the fact they did find oil shows the last time,
V1 spud just a bonus here, LP is what we need for the rocket, but if V1 a success then mega multi bags here and the share price is under 5p lol, wake up people
Can anyone enlighten me on what happens in the following scenario. We spud V1 very shortly and say after 150-200 metres we hit oil and the sweet spot.
Do We a) Stop drilling v1 and announce that we have found what we believe to be a substantial find (hopefully) and move on to V2 thus saving time and money ( i think)
b) Carry on drilling and not saying a word to find out how deep and wide the well might be and then announce what we have found on the prescribed date.
Would be nice to know what people would expect and also was thinking that someone should keep a close on the Mongolian Stock Exchange and also ours for unusual size buys as although meant to be a tight drill I have a feeling news will out in this form unintentionally.
Inorder for the train to leave the station it has to be in it in the first place on that bit i am just not convinced by. i think the train is coming from a different station via a different route and we have no idea of arrival.
Ah shame research and hold.
Thought we were having an adult conversation, but you decided to lower the tone.
Ah well.