Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Have 60% share of 2 BILLION bbl proven & in place Block XX extension into Tosun Uul Basin.
This why DQE deal will make SP fly harder & higher and know deal term agree already.
Price setting up for breakout & sustain :)
PARLIAMENT sessions are on from 3rd to 5th April
There will be a lot more oil if all these come in as well. Phoenix and Fox Prospects
Oil in TSC-1 core hole proved a working petroleum system in Tugrug Basin
3D seismic reinterpretation has defined new prospectivity in addition to the large, basin centre Fox prospect (200MMbo mean recoverable prospective resource potential)
Shallow four-way closure over Fox has 10-40MMbo potential and extent of closure conforms with surface hydrocarbon seeps detected
Phoenix prospect has 4 target horizons in a fault bounded structure with 230MMbo potential. Phoenix West has additional potential of 130MMbo
Shallow (<1500m) wells can test Shallow Fox and Phoenix. Targeting well costs under $2MM GLA
Mongolia will need all the oil they can get hold of to feed their 30,000 bopd requirement for their upcoming Domestic Oil refinery.
Everything will be fast tracked to meet that target.
Hence the urgency and proactive stance by MRPAM and Govt.
There really does appear to only be 'upside from here?
Every day taking us close to the Heron Land Permit and Velociraptor spud.
A couple of % here and there and then boom day.
Then Heron first oil day.
The rest will be history.
This was posted 7 hours ago on a Government official FB page - name is Bat-Erdene Bat-Ulzii - ref last weeks meeting at Block XX where the map was shown in the FB picture
WORKED IN SUKHBAATAR, DORNOD AND KHENTII PROVINCES
The working group established by Order No. A/62 dated March 14, 2023 of the Minister of Natural Resources and Environment, to ensure the implementation of Parliament Resolutions No. 41 and 46 and to finalize and present the boundaries of natural resources and monuments in Sukhbaatar, Dornod, and Khentii provinces. worked. Halkh five mountain, Meneng white pipe, Jaranjyo half "A" part, "B" part, Tashgai five lakes, Khokh lake, Ongon five springs, natural reserves and natural monuments of Zotol Khan mountain are covered.
WiseOwl.
Thanks for your contributions also. Many thanks
Should be very good year for MATD.
Great stuff Dozzawba, its all sooooo close. How we are not cira 7-8p right now is crazy!
Prime minister response was.
[English below]
Prime Minister L. Oyuun-Erdene: The more transparent the mining sector is, the less suspicion there will be, and with less suspicion, business projects will move forward.
The development of the Law on Minerals and the Law on the Natural Resources Fund is in full swing. Let the private sector actively participate.
PS. If MB thought the LP was imminent surely he would have waited for it rather than just issue a "holding" RNS.
Nice one Dozzawba. Well done.
Would also like to thank Hamm, Master82, Jimi, iamrich and all others for info sharing with rest of us. Your contributions are very much appreciated by rest of us.
We all in this together. Action to start here soon.
Could see a very strong build up here as wider market comes in to start taking positions ahead of Velociraptor-1 and Heron oil production to finally start at a time when Oil price is expected to rise further towards $95 - $100 a barrel.
This is now a STRONG BUY folks in my view.
[English below]
A. Bilgoon, executive director of "Erdene Resources Development" LLC: Mongolia has become like 21 federal states. I only found out last year. Bayankhongor province has been approved by the ITH as a strategic deposit of the province. In addition to 21 provinces, there are also many parliaments in Sumy.
***
A. Bilguun, Executive Director of Erdene Resource Development LLC:
The fact that the local government and administrative bodies make arbitrary decisions beyond the law causes difficulties for mining companies to operate in the locality.
Another large company was in the meeting with the mpram minister and the prime minister and the director was talking about the issues regarding the same problem what PM has.
Communication problem between the local and central government.
I'll try and find the link
Great opportunity to add or get in before a sharp rise.
Amazing life changing chance.
Can't find any better share at the moment.
LP=20p+
greenie meanies are out in force!
And don't forget the meeting was last week
Dozzawba, thank you for your efforts, this now confirms this is a done deal, cabinet just have to put a singature on and that's it,
Well done Doz.
I reckon LP is a done deal now. Needs just confirmation.
LP =20p+
Thank you for sharing mr Dozzababa. Very good :)
Good point mr Jimmibrush & confirm point on EL streamline process now.
Look forward to Velocirapror build up of i test & price but like mr Climbingwoister show will also be lot if crazy element lol
LP RNS will blow SP into double figure & DQE RNS after so very happy place.
New Licence Block RNS also
Will be good April for MÀTD holder :)
Further to the UK Ambassador's meeting with the Mining Minister last week, i emailed him to ask for info on what was discussed. His reply is below :
Thanks. I discussed this with the Minister. He confirmed that the Ministry had prepared the resolution to designate Block XX as special purpose land and it would be submitted to the Cabinet for approval soon. You may have seen yesterday’s public update from Petro Matad (attached in case not). Please contact Petro Matad for any further updates.
I have emailed him back and asked him to keep the pressure on until the Land Permit is granted. Keep everything crossed
Little old MATD will look like a very different beast in a few shorts months from now... in fact it will look different anytime now once LP drops in. GLA!
Three of the cabinet ministers fell down a hole. Well well well
On the Block V Exploration PSC area, local government approvals for land access have been secured. This area does not have the same history with the oil industry that Dornod Province has and as such, just as in previous years, thanks to its continued focus on positively engaging with local communities, Petro Matad has been able to secure all necessary permits to work on the land covering the highly prospective Raptor Trend and the Velociraptor prospect. The Company is now looking at its options and the availability of equipment to drill Velociraptor 1 on Block V in 2023.
A cost effective drilling solution for Velociraptor has been found, most equipment needed has been sourced and is already in country and MRPAM has given the necessary contractual approvals. The approval of the Company's application to secure a moratorium for 2022 on Block V has also been received from MMHI. This extends the Block V exploration period until July 2024 and ensures that there will be sufficient time after Velociraptor 1 is drilled to gather enough data and submit the necessary documentation to secure a Block V Exploitation Licence in the event of success.
Look like prediction of LP in April spot on & will be good to get before Velocirapror spud :)