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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 ;)
- 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 ;)
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!
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.
//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".
It took central gov 9 months to "expedite" the SPC for a project of "national importance"!
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 ;)
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!
I expect all FORMALITY & first RNSs in July!
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.
Mr Ibiza
Agree with you on lot of points but here is key difference I have.
V1 out of way actually give more confidence in Heron valuation just like Progressive Research say
"Our RENAV is reduced from 57.7p/share to 26.7p/share. The Special Purpose Land should provide investors with MORE CONFIDENCE IN THE CORE VALUATION" (26.7p).
Also you may be right about GAS I do not know but I think will be either Renewable because this is BIG focus of Govt (I will post some of my research source later at some time maybe OR as company which set up to JV with other foreign investor because of in country experience.
This way Govt get PSC from new asset discovery & some direct equity with limited exposure. Same as PM who limit risk exposure but have plenty of foreign capital.
Just few ideas and like I say only ideas until confirm.
We see but look forward to lot if RNSs now in very near term & focus to revenue generation :)
Https://www.sunsteppe.com/our-services/
Formed from PM and Wolfson Capital
From feb RNS :- Petro Matad is forming a joint venture with a very active and successful Mongolian renewable energy project developer called SunSteppe Energy ("Sunsteppe"). The combination of SunSteppe's expertise, contacts and track record with Petro Matad's project execution experience and in-country support functions will give the joint venture an excellent capability to compete in the country's growing renewables sector and to benefit from the early entrant advantages that the Company sees are on offer. Mongolia has huge renewable energy generation potential from solar and wind projects. The country has large areas of very lightly inhabited land and a firm commitment from the government to improve the environment and the wellbeing of its population, to reduce its emissions and to become an exporter of clean energy.
https://www.zoominfo.com/c/sunsteppe-energy-ltd/536433987
PM nor Sunsteppe websites give any information regarding future projects and obviously registered in US. As a separate company wondering how this will benefit PM shareholders. Looking for enlightenment from anyone with knowledge.
Wondering where near term income is coming from
Some people are just paranoid and causing mischief.
From the RNS paragraph...lets break it down:
"The Cabinet approved the certification
and also instructed officials to
conclude the follow up formalities
required under the Land Law. "
Key words:
APPROVED
INSTRUCTED officials
CONCLUDE
FORMALITIES
Mr positive,
They are either fools or playing fools.
Thanks for the filter option.
WOS
Yes i saw the bit about this enhancing the Heron prospect but honestly do not understand it. So how does failure in the Raptor exploration enhance the prospect in Heron surely it is a completely different site unless you are telling me that all the oil in Raptors has suddenly re-materialised in Heron.
Why Gas and not Renewables.
For me the clue is in the wording or rather what is not in the wording. The use of the word energy in todays day and age is forever linked with fossil fuels. Now if you had a renewable source ie solar panels or wind power you would not want to call it just Energy but call it renewable energy or something like that. And if it is as you suggest it absolutely terrible PR. I rule out oil as that is what we do. So what is the nearest thing to oil that you would find with drilling and that is gas. IMO.
Why i think it could be big.
1)
Wos cont
1) So far as i know this idea of a JV with the government has never been mentioned before in any RNS or presentation where as Steppe JV has. Therefore this has suddenly come to the fore.
2) It is a sign of the deepening and trusted relationship that MB has developed with MG.
3) They took advantage of the Royal Coronation to set this company up not on line nor have this meeting on skype but face to face.
4) IT is has not been done with minnows or a few jobsworth civil servants but the main men and with the inclusion of the Mongolian Ambassador may even include knowledge from our government but that is extremely tenuous. But majors political players, a head financier, Mongolian Ambassador with our CEO and also fly over someone who looks as if might be our company secretary. No i do not think this is tiddly winks time. When will all this start I do not know but my hunch would be September/ October just before winter sets in if that effects anything but the government is back in session by then. Otherwise it would be next year so if next year why set up the company quite so urgently.
Something has come up or someone has had an ideas and they are going to run with it very shortly would be my guess.
// Key words:
APPROVED
INSTRUCTED officials
CONCLUDE
FORMALITIES/
Key word missing
CONCLUDED
What a difference a D makes....