Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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The project is a joint venture between Mongol Refinery LLC and Sinopec Engineering (Group) Co., Ltd. (SEG), with Engineers India Limited (EIL) providing project management consultancy (PMC) services.
Petrochina is all good now. They just had to sort out their own issues.
Besides Mongolian Govt told Petrochina to play ball few years ago after which Petrochina signed an MOU with PetroMatad to use their Oil processing facilities in Block XX for us to connect Heron oil production.
More importantly both Russia and China need Mongolia for the massive upcoming Russian gas pipeline connecting Siberia to China via Mongolia.
Mongolia might be land locked but strategically located between Russia and China serving the economic interests of both and their own Urbanisation & Industrialisation plans.
Petrochina can also work with Matad as JV partner in Block V to ramp up production if Velociraptor-1 hits the black gold. Block V would be lot lot bigger than block XX. Mongolian Govt wants the oil for the big refinery.
Thornogson - Matad will hopefully be competing against Petro China so I think it is important. But yes, right now it’s about the LP. Let’s hope there is no skullduggery going on and that it is as straightforward as cabinet signing it off. If it doesn’t, it could only be because of corruption now.
I disagree.
Russia and China will not do anything that they think might harm relations between the two countries and Mongolia, lying as it does between the two, will be too close for comfort for either to feel they can get too involved with without upsetting the other.
You're right though relatively speaking Mongolia is 'small beer', that's why it won't be worth their effort and risk to try to interfere with.
But let's not try to overcomplicate things?
Petro Matad are waiting for the Cabinet Meeting where their Land Permit is authorised to allow them to extract oil from their Heron Well.
It's not got anything to do with either Russia or China!
If Russia is seriously weakened by the Ukraine conflict it IS possible (but unlikely) that China would make a move to annexe Mongolia.
Thornogson - what planet are you on… Russia and China are each other’s closest allies?!
Not just that, but a population for Mongolia of 3.3m versus 1.7bn of their corrupt neighbours! I’m sure I’ll get shot down, but you have to be realistic and China/Russia will no doubt hold considerable sway of the Mongolia government.
I think Mongolia need Russia and China more than they need Mongolia.
Russia is full of natural resources and so is China compared to Mongolia.
Mongolia is very lucky to have Russia and China as its only two neighbours.
Neither will want to be seen to be trying to assert it's authority over Mongolia as it would be perceived by the other as trying to unduly influence a county within their sphere of influence.
Geopolitically there's no way Russia or China would try to do a 'Ukraine' or 'Taiwan/Tibet'.
Just my thoughts.
GET IN TODAY IT MIGHT BE TO LATE TUESDAY YOU HAVE BEEN WARNED LOL GLA
Shagged - I’ve said many times that my biggest concern is the fact Mongolia is a third world country land locked between two of the most powerfully corrupt countries on the planet. They will surely have agents there making sure their interests are being served.
I think the Mongolian Government will be more than pleased to let Petro China have a little competition to keep them honest?
They're talking about changing their approach to foreign companies and trying to attract outside investment.
The recent Petro China issues can only be helpful to Petro Matad's cause I'd have thought.
The Government will want a successful Velociraptor drill almost as much as we do.
Petro Matad have a 'good hand' to play at the moment.
Time for Petro Matad to let the Mongolian government know in no uncertain terms that no further moneys will be invested by them into Mongolia until such time as the LP issues have been sorted once and for all.
I've no doubt Petro China have had a large hand in hindering Matad's progress in Mongolia. After all, who wants anyone else
to stick their straw into your drink, even if it is completely legal?
Allan
I would assume a +$1billion MCap in future here.
Would be a stepped Up increase obviously in line with Production ramp up from Heron Oil field.
But like Jimi said if Velociraptor-1 hits sweet spot also, then that would get us there lot quicker.
Production from Block V then would be nice feedstock for the upcoming Oil refinery. They would need all the crude they can get to meet the 30,000 bopd requirement.
First estimates at Heron was a 25million barrel recovery which the company placed an NPV10 of $150m at $60 per barrel.
New estimates are up to 60 million barrels which at current $85 per barrel would be circa NPV10 of $500m.
I think
More than one billion pounds ????
Thank you everyone, for your precise, accurate , Positive, Guiding posts". Our SP is going up and its because of all of you". and "There is no RNS"" and now we go from 3.25 to 4.25", lets keep the positive energy moving forward. When MATD'r ..LP-hit's and Velo-Hits', .. with alll of your positive afirmation's as confident "Owners of MATD'r" i believe your insite will reflect a 10 - 15% increase in our SP".... "above what the estimated real value", ....Hint-Hint".... TY ... keep it coming", God Bless"........ Greenbacks
Drillers Talon have just completed a funding round 2.5mil so that's them covered for their project hope it goes smoothly for them.
Please can someone provide a capital value of the company when in oil production.
And that is just block XX, and if V1 is a hit. After 6 years 8, 9 weeks wait for spud will pass quickly:+)) GLA
At Heron oil field.
For 20 wells using same figures as below, Annual profit would jump to c. $220 million.
GAZELLE -
Company still needs to follow up Gazelle discovery as we busy at Heron currently.
Even for 15 wells at 600 bopd = 9000 bopd
This is MATD original target production from one of their Block XX presentations.
Using $85 Brent crude price and $50 profit margin would give annual Profit of +$164 million.
Above are conservative figures for balance.
A watched pot appears to take longer to boil than you think it should,
but it does boil.
A watched kettle never boils!
It's coming but when?
This morning , for some reason, was the first time I felt a little deflated that it wasn't there.
It's coming via a Mongolian Cabinet Meeting soon enough but when?
No Bank Holidays in Mongolia this weekend so perhaps after the Bank Holiday?
Tick Tock.