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STATE AND LOCAL INSPECTORS OF THE INDUSTRY
MET THE OFFICIALS OF THE EMBASSY
According to Resolution No. 417 of the Government of Mongolia dated November 23, 2022, it was decided to liquidate the activities of the Professional Inspection Organization on December 31, 2022. As a result, control functions were transferred to ministries and their subordinate organizations, and the issue of geology, mining, oil and gas control came under the jurisdiction of the Ministry of Mining and Heavy Industry.
In this regard, Minister of Industry J. Ganbaatar met with officials and experts in charge of supervision and gave instructions.
According to him, with the control issue coming under the jurisdiction of the ministry, it is possible to carry out comprehensive activities of "policy determination-implementation-control". Therefore, it is necessary to get rid of the concept of "reviewing and checking" and work in the cycle of "collecting actual information and facts necessary for policy determination, making proposals", "implementing the defined policy, advising on its implementation", and "monitoring the results". The Ministry of Mining and Heavy Industry is working to ensure the legal stability of the industry, foster responsible mining, and improve the investment environment. Therefore, he said, it is necessary to pay close attention to the implementation of the law, to make conclusions on every violation, violation, and misunderstanding, to solve the problem, to strictly fight against irresponsible mining, and to create friendly conditions for investors.
According to Resolution No. 295 of 2022 of the Government of Mongolia, the structure and number of staff were increased to organize regional offices in the region. Accordingly, Minister J. Ganbaatar emphasized during the meeting that the representative offices of the AMGTG have been established in Dornod, Umnogovi, Dornogovi, Selenge, and Hovd provinces, and these organizations need to work in close coordination with the state inspectors of the provinces.
Very good news & show direction of Govt to support investment and take control away from others who will stop this
Happy for the weekend to read this :)
Anyone have details on the new block tenders up for grabs ?
Leveller45
https://twitter.com/Unlucky_Dude2/status/1623985339181281282?t=VsH3dXRLoxm8r9e3q7s6NQ&s=19
This should bode well for us. Hopefully we’ll have some news next week to prove it so as well.
GLA
Does anyone know if any other land permits have been handed out in recent months? Is it just matd or everyone else also suffering?
Doc83
Who else has found oil in mongolia since heron?
Cheers maestro1
maestro - you tell me. I’m not a MATD expert (see previous posts for my investment history in MATD) and definitely not a Mongolian oil expert. Hence the question.
We are on the cusp of major breaking news next week. This could storm towards Double figures in double quick time. We all know how fast it moves
I hope so MisterP. We've all waited a long time for it to come.
I'm not saying it would be panic stations if there is no RNS next week, but it would be very disappointing.
Bluechip
We will get update at agm, we can also send questions.
Valicraptor well will definately be talked about, mid 2024, block V expires, so they have to drill asap. Hence the funding.
Coming months are going to be fun at matd, no more excuses..
Doc83, there are other oil and gas companies active in Mongolia, Jade gas and TBM Energy both Australian but there focus is on CBM. There are only 2 main oil explorers I'm aware of that have any plans to bring oil to surface and obviously PC already producing. Hope this helps a little. GLA https://www.mongolianminingjournal.com/a/71609
Jimi - many thanks. Will take a look.
Doc83 slight typo on my part it's TMK Energy not TBM GLA :+))
Very good article and why everything moving to Mongol govt ready to give LP any day now I think
Mr Mike Buck right when he say have discussion with Mining minister who promise LP in 1-3 month
Maybe timing little bit out but everything look like it all getting ready for issue
Any day now & will be very happy :)
According to the order No. A/27 dated February 17, 2023 of the Director of Minerals and Petroleum, the deadline for receiving orders for oil exploration and exploitation activities in the Darganga XXIV exploration field is March 13, 2023 at 5:30 p.m. GLA
Mr Jimmibrush thank you for information sir & is good to share this on BB so can understand this better.
I check all information as well and see have see that there is 5 block in this phase sir.
Nomgon IX, Tukhum Xnorth, Tsagaan Els XIII, Zunbayan XIV & Dariganga XXIV and application open November 30 2022
First bid is for Nomgon IX and this close February 20 2023 this Monday
Do not know which one MATD bid for in this round but seem to say expect news on this around now si maybe it is Nomgon IX
Exciting to see sir :)
Velocirapror spud in Q2 so could be April, May or June but will have RNS BEFORE this with company now understand how important is news. They can it just give few week notice for spud because company must prepare land & other things like mr Mike Buck say
This is why will expect RNS anyday which confirm spud date by Canadian company & then updates on preparation for this
Lots of things happening here & LP "very confident will be issued soon"
Have good day off work sir :)