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First will say anyone who see BB with so many post & so much bicker will not be put off investing. Sensible person do proper research & not "I will not invest because mr Doc put thermometer in someone buttt"
BB is busy & crazy because of interest in share. Problem is when I formation get lost in bicker so do not get upset if reposted. Filter poster if problem & understand lot of new reader come & maybe they do not see it.
Also think everyone know lot of same poster not here to "must help innocent ones" but here for own trading. Simple ;)
Some of us like to give INFORMATION. Make up own mind from this even if it is give more then once. If investment not change then why change info.
HEADER. Land access issue now go from regulatory body MRPAM direct to Ministry who give it Project of National Importance.
This is because it is priority now & with all documentation to Ministries over month ago & actual signature Docunent was being prepared for submission to Cabinet at 3rd April.
This will not sit around for weeks when prepared but submit straight to Cabinet.
Pro forma Docunentation ALREADY prepared at this time for Ministries so official signature Document will have been simple process to prepare. Remember is important to Govt & have been given Project of National Importance.
Also maybe remember Isle of Mann meeting with CEO, MRPAM & MMHI in person. This will come up as very positive development in BIG way I think & soon.
CABINET MEETING TOMORROW so will see how quickly most vocal critic of share quickly jump back in for result lol. All know they do this ;)
Be happy well research & eye wide open for BB traders theatre :)
Mr Dozzababa good information & confirm estimate of V1 Spud 1stcweek if June & pre-Spud ground preparation announcement RNS CEO did say would be release.
Lot of newsflow coming
I fear in Petro Matad's case it means that the oil must be kept in the ground until it can be refined domestically within Mongolia.
Hope I am wrong but its the only logical explanation for the delay.
Having watched this company for a couple iof years and been invested since last year I can confirm that the Mongolian government do not move along at the pace of other public bodies. We're slow in the UK at making decisions but the Mongolians seem pretty glacial.
Likewise hope you're wrong about that possibility but as has been stated on here before, there could well still ve one last step of LP approval to go.
Making MB wait until their refinery is built would not be very commercially minded in that it will infuriate the company and investors alike and I expect the Mongoliams are trying to keep MB onside
Only logical explanation was 2017 land law conflict which have now been bypass with MRPAM transfer direct to Mining Ministry who now send it direct to Cabinet with special status.
Think this is very simple explanation & first oil revenue this year :)
//Making MB wait until their refinery is built would not be very commercially minded in that it will infuriate the company and investors alike//
You really think that the Mongolian government give a flying fajita about Mike Buck and PM shareholders??? !!!
HOWEVER they do care about a bad news foreign investment story, as they are trying to attract other foreign investment, so for that reason I don't think they will wait until the refinery is built to grant the LP/SPC
Cashrules. Don't talk crap please. Why do you think the GOM have taken the decision of granting the land permit away from the local governor and local MP's in Dornod. Why do you think the Central Government have put in a law to imprison people stopping the rule of law with corruption. Read between the lines. Why do you think Matad have been granted all permits for Velociraptor, but not Heron yet. It ain't hard to see that Matad have been held to ransom by corrupt officials in the Dornod area, whereas its all systems go in the Velociraptor area, wonder why that is ? Think about it.
Mongolia are massively touting for foreign investment, renewable energy etc etc. Do you really think they will wait until 2 to 3 years time to let them get the oil out the ground. Don't talk sh*te.
Another example which confirms it's locals causing the issue. A post below, how came TMK Energy are allowed to drill 3 wells without any hinderance from locals. Ask yourself all this or are you another trying to get in at a lower price !!!
Dozz. I know you had some communications with the former ambassador. Have you been in contact with this new one by any chance? Thanks
Dozza - I hope I am wrong and you are right. We are fast approaching the end of May and there is still no news!! What's the hold up? Why no explanation from MB? What was his meeting in IOM about it must have been PM related. Why not inform shareholders? If we drift into the Velociraptor spud with no news on the LP then it really will be squeaky bum time.
This is very exciting especially if we get this confirmed shortly with an RNS however let us not forget that without the LP we are just another exploration company. Admittedly one that is potentially sitting on a transformational field but still only at 20 CoS.
I do not know about others but without the LP this would change the whole of my investment strategy.from one where i am in vested iin a company able to exploit oil to one that is just looking for oil. IMO one is an investment the other is a gamble with 5/1 odds. Not much different from a horse racing punter reading the form and deciding 5/1 are good odds or not. The SP will rise and will probably reach double figures before TD as an exploration company but without the LP there is little or no foundation to the share if it comes with pure dust. Also the finances would come into question as to how long and how much of the 12m we have left if any after the drill.
I still believe the LP is coming but i reiterate we would be stupid to spud the raptor without the LP it would be a blind leap in the dark. For me this is stark reality not a ramp or a deramp just plain obvious black and white. GLA
//I don't think they will wait until the refinery is built to grant the LP/SPC//
I don't think so either but whether the eco-warriors will kick off & whether PM can profit by trucking oil via Petrochina to China are different matters.
I think the eco warrior(s) had the Dornod aimag officers stitched up with fear of being branded the sellers of Mongolia's birthright and being doxxed on social media, Central government ministers (cabinet... whatever!) are made of sterner stuff, but even they will be mindful of timing. They will only upset their voting base when and if it suits them. As politicians do...
“I don't think so either but whether the eco-warriors will kick off & whether PM can profit by trucking oil via Petrochina to China are different matters.”
BP, you may well be right. I’m hoping the SP will spike on LP day and I can sell a good chunk of my holding, before it then settles back. My plan is then to hold for Velociraptor and the like.
Curiouser, i have recently emailed Malone again and asked him what's the latest and copied in the new to be Ambassador. Malone says he is still supporting Matad and is hoping it will all be sorted before he leaves.
Thanks Doz
Hi Dozz, I did the same a month ago and got a similar respond but I not sure that they can't influence on this absolutely disgreicful if not criminal acting of MG. Such outrage delay in granting LP has no any other reason than to rob foreign Investors and I am sure we have to inform SFO about this scam, specially if MG going to drill Velo before getting LP.
What do you think?
Manro, i do tend to agree, it is disgraceful from the MG. Nearly 4 years for a LP, held up by corrupt people, hence why i do now believe the MG actually realise that the country is screwed if they don't sort this out. They are in desperate need of foreign investment, so they need to be seen to be working with foreign companies, hence why major law changes are happening to cut out the corruption, but it 's slowly, slowly, slowly and it seems that PM are the guinea pig in all this. Exploitation license hadn't been issued in over 10 years i believe and law changes/procedures were amended for that before we got issued it and how long did that take to be granted.
I haven't got a clue if we will get LP before drilling Block V but i would hope Buck & PM have a guarantee that it will be coming after certain laws are in place as could be suicidal to the SP if Block V is a duster
I have said it before on here my frustration with this is MB and his total lack of communication with investors when this is one of PM's Key Governance Principles which states the below on their website:
Building Trust
Petro Matad establishes trust with investors by encouraging two-way communication with both institutional and private investors and responding quickly to all queries received.
What a crock of sh*te that is. MB needs to practice what PM preaches.
I actually do believe it will come good hence why i am still here from 2014, but it is friggin frustrating with the silence.
Hoping we all get to make a sh*t load of money, we ruddy deserve it !!!
Mr Dozzababa
Lot of thing have change with this new Govt & when you follow them can see have hard focus on Economy / Foreign investment.
This see with new laws, English language teaching introduction in schools, power away from local level, Vision 2050, Prime Minister drive to make corruption index lower.
Lot of Cabinet minister / advisor Harvard or Western education.
Mongolia have just over 3M citizen and country want make BIG move for transparency / foreign investor working place.
How this affect Petro Matad & LP?
This why transfer happen from MRPAM to MMHI so Ministry take direct charge & push LP through. Also why give Project of National Importance status & will see last stage over line shortly sir
This is why am very happy to see Isle of Man development & will be BIGGEST move for Petro Matad I think.
Make little penny difference in price look like micro move sir.
Happy sir back & wait :)
Mr Gymbrock where was your USEFUL informatioinformation in your last post (or any post) lol.
"Are these cabinet meetings on a continual loop?"
No sir they are REGULAR.
Hooe that help & give you some incentive sir to do own research & share :)
We ALL know that the cabinet meets regularly during parliamentary sessions, so why keep repeating it each week as if it is newsworthy?
It's only newsworthy if you have Intel that they will discuss the SPC ... and you haven't.
Speak for yourself C&C. You do not represent other investors - particularly not me!
OK. Everyone but Ojay knows that cabinet meet regularly...
Ojay - you’re a bit of a wally really.
As you are a genuine LTH, I’m amazed you support the likes of iamrich and WOS.
Ojay clung on to Fair Analyst's posts too. Possibly overly emotionally invested let alone financially, which would cloud his reason.
Not from the genus Strigiforme, more likely the genus Paridae.
Owls, wise or otherwise, tend to be relevantly silent, whilst members of the paridae family seem prone to uttering contant repetitive twittering.
Please don't get your feathers ruffled but you do seem to contantly post repeat messages and any (and some of your posts are valuable) value gets lost in the avalanche of repeats
Mr Ibiza
Other way round where development fund by production revenue. Should give confidence in LP not concern sir
Also my post this morning on thread tell why all push ahead fast for LP now (06:53)
I see Govt plan for Oil sector & Petro Matad key partner with in country experience to JV with foreign investor.
Mongolia have potential to be New Saudi Arabia done say & Ponzi scheme idea does not fit with new Mongolian Govt plan for economic growth with less beauracracy/ more transparent & service if foreign investor interest.
Very exciting for Petro Matad to work so close with Govt like this