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Not a spectacular RNS but still a good one. As i said a little while ago now a matter of dotting the i's and crossing the t's and this will be done in Mongolian time and not investor time. Instead of a massive breakout i think this will be a slow and steady rise through the pennies and then once confirmation of Velociraptor exploration dates etc come in then it will push on much more rapidly imo. But if you in the for ride then it could be very bumpy as there are a lot of people on here will continue trading through it. Probably till the next big surge.
It's important to read the RNS very carefully. Overall, it's positive but there could still be a way to go yet.
As it stands, nothing has even been submitted.
"Documentation has been prepared by the Ministry of Mining and Heavy Industry and circulated to other relevant ministries IN ADVANCE OF SUBMISSION TO CABINET to secure approval to certify the Block XX Exploitation Area as a Special Purpose Area... we are pushing for the matter to be brought to cabinet urgently..."
"We continue to push the Mongolian Government FOR the certification of Block XX... and are pleased that the Ministry of Mining and Heavy Industry is PROPOSING the certification on the grounds of this being a project of national importance."
To reiterate for those that are a bit dense - I am LONG MATD and want this to do well. I'm still keeping my feet on the ground. Words like guaranteed and 100% are irresponsible.
Doc83 yes you keep your feet on the ground and make everyone here be sensible, why are you so worried about the rest of us? Lol!
iamrich - and why do you think we need to hear your inane "this is going to smash 6p this week, 15 p next" blah blah blah crap?!
*2 more green boxes from my friend WOS the POS. Lemme guess... some kind of derogatory comment and then "be happy"? LOL.
The retained Exploitation Area includes the entire extension into Block XX of the proven and producing Toson Uul Basin. This basin contains an estimated 2 billion barrels of in place oil in the PetroChina operated areas in Block XXI and XIX immediately to the north of Block XX. Under the Exploitation Licence, the Company can continue to explore in order to increase the proven reserves within the area and has identified on existing seismic data, prospects and leads within the Exploitation Area with recoverable resource potential in the range of 100MMbo to 200MMbo in addition to the potential seen in the Heron structure. yummy yummy. And if V1 is a hit definitely happy days :+)) GLA
Sheesh the debate here.
Is the LP gaurenteed? …. No
Is the LP likely given ….. Yes (more likely than drilling for and finding oil!!)
Why? …
1) all the work competed to date as uncovered by master 82
2) the government want the oil pumped and sold
3) the government have to show they can work with outside companies to attract investment
Is the risk vs reward here good? …. Yes
Not much more to know. Invest on this or sell on this.
“Is the risk vs reward here good? …. Yes”
Agree with that. Just that some would have you believe there is little or no risk!
Yes agree DOC always important to remember there is risk
Fair enough doc.
Anyone here invest in ADV? …. 90% chance of success (hitting oil)… and failed. There’s always risk in any investment. I sold ADV before target depth.
But I do like the chances of the LP here.
GLA
First of all, I have been invested in PM for many years and have experienced some highs and many lows. However, in my eyes, this PR is finally the breakthrough I was hoping for.
1) PM has set a fixed date for the drilling of Velociraptor 1 in an official PR. There is nothing more to speculate about it!
2) The official go-ahead from the responsible ministry for Block XX has finally been given and is on its way. The rest is pure bureaucratic hurdles that will probably be cleared without any problems.
So everything is fine and I am more relaxed than ever about the future of PR!
//The rest is pure bureaucratic hurdles that will probably be cleared without any problems.//
PMSL !!!!
PMSL… can only stand for
Petro Matad Special Licence?
Whoa… stop the crazy ramping BP, it’s not landed, not yet
:-D
Doc83 you sold out lol now trying your best to put a negative spin on this, so you can buy in, hopefully this climbs and you are forced to get lost or buy in high, we see your type here all the time once night in the tune will change to ramp mode,
You seriously are related to llyod Christmas for sure, can you not read the RNS, then add the meetings the CEO and ambassador has had with the mining minister, this is a done deal, people like you still like over evidence disgusting behaviour
Raptor will only spud in June IF the drill contractor has completed its other jobs. AND it's a 20% chance of hitting oil.
@Badprophet
Q. Have you ever taken the time to read back through your own posts?
No need to say anything else.
//No need to say anything else.//
Then don't say anything else!
Canadian company TMK have announced Talon will start drilling the pilot well in 2 weeks time. So all going to plan the V1 spud will go ahead in June :+)) GLA
BP are you a half glass empty kinda guy just as far as MATD is concerned or life in general .Genuine question btw
//BP are you a half glass empty kinda guy just as far as MATD is concerned or life in general .Genuine question btw//
I've yet to proved wrong.
to BE proved wrong
BP your being proved wrong every day, LP will come and velociraptor will be drilled you will still be here talking about something else lol, you are a total nutcase for sure, seriously go find a women or man or both
Depending on what day the contractor Talon finish there programmed works for TMK estimated to be around 7 weeks around the 5th June, so maybe looking at July for results for V1. GLA
Jimithebrush.....i can tell your getting excited about the velociraptor drill lol me too lol, 200 million barrels recoverable what's not to like
//200 million barrels recoverable what's not to like//
Yeah but where are you gonna sell 2 million barrels of dust?
sorry - 200 million