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Header say ALL - what is 1 RNS that move us from Uncertainty to CERTAINTY - RNS for final signature by Provincial Authority.
We know REAL PROGRESS made, is COMPANY MAKER and could come any day.
For me MAJOR DERISK happen with Cabinet Approval - this tell me all CLEAR at HIGHEST LEVEL. This is MOST important thing and final signature MUST follow.
Until then small volume move this. Can see how even single big holder can sell a few 100k of his share to drop price. When CERTAINTY come with RNS (which must) then LARGER & LONGER TERM position will happen.
Price manipulation not so easy then and INVESTOR FUNDANENTAL start to take over.
Quick summary (please filter if you want):
- Asset with 7,000-10,000 bbl per day plan for development in 2024
- Rest 3 Billion field in Block XX extension
- JV with DQE for fast / low cost full field development
- New Blocks
- Renewable explosion in Mongolia with increase in Govt level / Bank financing
- JV positioning with foreign companies due to in country experience
- FULLY FUNDED until at least July 2024 (believe it not).
There is something else also but again will not discuss until after RNS
While some people play game on BB I build up holding. Have very good idea how will develop and as INVESTOR very confident in investment case & Management strategy/ Govt relationship.
Some people do not understand importance of direct Provincial Authority meeting tweet on Friday after direct MMHI / MRPAM talks - think this all Rubber stamp now.
Also FUEL CRISIS and today headline about how 'China will not increase export quota for rest of year' after Mongolia did get EMERGENCY import from them.
Little trader make adventure here with flip flop posting / better investment other place and all this BUT Investment case here VERY STRONG if person analyse clearly.
Your money make own decision - my share is collected & safe.
Be WISE 🦉
BOOOOOM - PROGRESS and one final issue to transfer money to 10 herder family.
"We expect this to go through SOON"
I think what actually happen is I upset other people trading lol.
No need to trust this or that - Focus on INVESTMENT like I always say (points put down akwats from official sources.
Be WISE not UNPROFESSIONAL 😏🦉
Look like PANTS DOWN Tuesday for some! 😂
Good RNS - Explain what happening - expect signature SOON!
Thank you & happy to have my shares. Time for Dec / Jan Uptrend to start 🦉
The pessimistic view is that the corrupt provincial governor is clearly still blocking/slowing things up, and that he could find another problem down the line to continue to stop us. Oh, and we’ve had to pay more money.
The optimistic view is that things do seem to be progressing slowly and we should be ready to go once winter is over.
Manx - I’m not sure winning new contracts is good at this stage. MB loves to drill as they say, but it will also require cash! I’d like us to get Heron sorted once and for all before any further drilling whatsoever.
Totally with you Doc.
Winning the options is key for the new locks.
I know what beaurocracy can be like in these parts of the world and tend to be quite pleased with that RNS.
Does anyone know how much compensation we have to pay?
Sorry, try again.
Totally with you Doc. Winning the options on the new blocks is key.
They have to start pumping revenue from Heron to then easily scale up. Borrowings against income to funds well roll outs and protecting sh against dilution through fund raising.
It will all work and we should see a good uplift now.
Excellent RNS update . So close you can almost smell the oil . Just get that rubber stamp out of the cupboard and BANG we’re on . Plus we’ve repaired and ae developing better relations with the locals , paving the way to being seen as the “go to out fit” for anything oil or renewable energy related in Mongolia ( aside from the cavalier Chinese that is)
Merry Christmas and Happy New Drilling season !!!
"The company hosted the Matad District Citizens Representatives Committee on a visit. The trip was very successful. The Committe thanked the company, declared their SUPPORT for the company development activities in Matad and AGREEED TERMS OF COOOERATION AGREEMENT"
For ones who said my Tweet re-post Friday was useless!
🦉
Not a lot. A few thousands each. Easily sorted and without pain.
- Focus is on final signature RNS - Money for 10 herder family compensation is in bank and ready to transfer which company expect "SOON"
- New Blocks - I did post info on new blocks for tender with good seismic already available / next to known assets (some bigger then Quatar). Company will look for foreign JV using in country experience and have own production revenue in place.
Remember Petrovis will want ROI for capital / time of investment. Follow the big money as IMVESTOR because it is investor time coming now.
I already have arrange shopping with Mrs WOS so cannot see what happen while out BUT start of UPTREND now (check 06:19 post)
Be Happy 🦉
Surely we should be notified of the payment amount to pay off the herders
WoS sell . your shares so you can shop.
Will be a nice trading day today as volume will be better and SP up less than people expect imho.
Renewables project wooly and vague again surely he could put a bit more meat on the bones as far as that is concerned .
I hope soon this time does really mean days or a couple of weeks and not months and years . Fingers crossed we get this over the line SOON !;
No doubt “ The Stain” will moan about “.. still not having the final signature..”
Oh what it must be like to live in such a depressive miserable psychological state every day !!!
Merry Christmas Stain
( Adopt a spirit of good will and cut the Bah Humbug stance for once !)
Prof: “and SP up less than people expect imho.”
Hope I’m wrong but I don’t see much of a move today, certainly not back to 3.7p. Market will look at this in a cold way, which is that we are still waiting.
Market FORWARD LOOKING
Investors will start to take position knowing only need money transfer. Also check statement on local agreement.
As investor I look for this and start if UPTREND.
Good enough & more to come 🦉
Researchandhold said // BP is like a stain on humanity//
Did he forget to mention the upcoming cash raise?
Researchandhold said // BP is like a stain on humanity//
...and the BoD foregoing some of their salaries.
Cash until "at east July 2024" - believe that it not. If no stay out of investment until you satisfy lol
Be happy in meantime 🦉
Very good RNS update, all positive and only patience is required, Merry Xmas & Happy New year to all genuine investors.
I want to see UPTREND now for reasons in post from today 06:19.
Price going up daily / weekly for big overall rise as clever investor start to take position for company making RNS / rapid full field development / Production / Revenue
This is what INVESTOR want to see & today RNS set this going now 🦉
Wos want you want is irrelevant
You want the same everyday and never get it.
Cash raise always comes before cash runs out
Today rns and you see market reaction
Go stopping or still not able to sell as much as you need ?
Be happy. Go away till next. If you do i will as well
In meetings facilitated by the Company, all the herders have agreed to be compensated. Under the legislation, the compensation payments should be made from the State budget but recognizing that this could be a very slow process, the Company offered and the industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) accepted that Petro Matad would make these payments. The money has been paid into the appropriate MRPAM account and is awaiting transfer to Dornod Province once the Ministry of Finance gives approval for this to go ahead. The mechanics of the transfer have taken some time for the Government to determine but we are pushing and expect this to go through soon.
The remaining steps in the regulatory process involving issuance of the special permit to MMHI and the signing of the Land Contract between the Matad District and the Company have been agreed to go ahead once the Tripartite Agreement is signed off by the Provincial Governor.