Member Info for Doc83

Thornogson - I wonder what power the Provincial Governor (who clearly has no time for MATD) to block the local authority and its processes? And, will the local authority be able to "prepare" the paperwork quicker than all other previous paperwork!?

Effectively, the company is seeking to bypass the Provincial governor and requirement for the State Special Purpose Land certificate by going to the locals and obtaining a Land Use Agreement from the local District authorities:

"A land use agreement is now being prepared which, once signed, will allow 2024 operations to go ahead commencing with completion operations on the Heron 1 well."

However, it has not been signed or even prepared yet. MATD are also clearly concerned the Provincial authorities might try to block anything:

"We are hopeful that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, but we remain vigilant."

If Heron was a goer, i.e. we will be producing oil "imminently", then I think that would have been made very clear in the RNS.

Instead, Mike Buck uses the summary at the end to say:

"With that being said, we are extremely frustrated with the continued delay to the State Special Purpose Certification process and we continue to push to get this resolved."

BIXY - explain why this is positive?

We are NOT good to go.

WOS, apology?? This is more delays.

Honestly, this is not a good RNS. I would not be surprised to see this at 2.5p today once everyone realises.

*The continued refusal* of the Provincial Governor to sign off on a Tripartite Agreement which has already been approved by the Ministry of Mining and Heavy Industry (MMHI) and the Central Land Agency has been raised by the Company with all relevant agencies and also at the highest levels in the Mongolian Government.

*We are hopeful* that the Provincial authorities, who are holding up the Special Purpose Certification of the Exploitation Area, will not disrupt in any way the District's approval process, but we remain vigilant.

The Governor is still withholding his signature, now on the basis of a partial overlap of the Block XX Exploitation Area

It goes on!

WOS, apology???

I'm not saying you're a dishonest person - last year when you did something very similar, I think you genuinely thought MATD were finally there, but then it turned out you'd misread/translated it wrong, we weren't there, and the SP clattered back.

I think so. We had a similar incident last year when master82 misread something and the SP skyrocketed a full pence or two, before crashing back.

I cannot understand why there would be another local meeting... everything has apparently been agreed.

Another meeting??? But I thought all was agreed?

Hmm....

Sol, that sounds correct.

If the SP really has fallen because of the consolidation news, fill your boots I’d say.

The SP consolidation hasn’t happened yet. It makes absolutely zero difference to the overall value of the company. I can only think it is retail investors not understanding and dumping their shares, although 22 trades is hardly a lot.

This is just like me having a company say valued at £1m and issuing 100 million shares at 1p. Now I’m saying I’ll only issue 1 million shares which will be worth £1 each.

From investopedia:

“Par value, also known as nominal or original value, is the face value of a bond or the value of a stock certificate, as stated in the corporate charter. The face value of the stock stated in the corporate charter is often unrelated to the actual value of its shares trading on the open market.”

Sol - this is simply a share consolidation, 1 for 20 old. The SP will increase 20x on the day to offset the then reduced number of shares in issue. The 2p is the nominal value or description of the shares. It is nothing to do with the actual value of the shares.

Right now? We’ve been here years.

WOS - how about for once you admit and say “I WAS WRONG”?

“ I will say this again - We WILL get news within next few days & Petro Matad will. E Major player in Mongolia Energy space”

You also said we WOULD get an RNS THIS WEEK. 35 minutes to go, we should all be very happy.

Hamm, no hopefully. It will be tomorrow. WOS explicitly stated it would be this week.

Good to see Hamm has bought back in!!!

Roxy - you've got a bit of a nerve. You were super bullish about MATD, only north from here blah blah, and full of praise for WOS, all not so long ago. You're sounding like Hamm now, flip flopping.

Be it good news or bad, I think we will hear some kind of update during March. I think it's clear I'm concerned it will be more delays but I hope for all our sakes and Thornogson's children that it is positive. Anything less than "Heron is 100% sorted and we'll be producing oil this year" will see the SP crater. Vague RNS's and promises by the Mongols just won't cut it anymore, IMO.