Member Info for Doc83

Hamm: "Mongolian government guaranteed oil production in 2023." "Mongolian government promised oil production this year."

Did they?!?!?

I think you're imagining things.

"It is buy buy buy."

Hamm, I'd like to buy. Which broker do you use and I'll have some?

"The question has to be why the CEO is now intimating that the formalities are gonna take longer than the special permit itself took. It doesn't make sense."

I think he's managing our expectations. He probably pokes his head in here now and again and sees a Wise Owl telling everyone it's all guaranteed and due "any day now"!

Mikec365 - I think a P/E of 10x is optimistic. The FTSE 100 is trading at 10x.

The likes of Barclays which is making £5bn yearly is trading at just 4.5x. I think for a microcap AIM oil stock I'd be assuming 5x at best for any calculations. Again, anything more is a bonus and would probably signify it's overvalued, unless of course there is something else on the horizon and earnings are anticipated to skyrocket.

Good points from both Thornogson and Dozzawba.

To be clear, I am still confident this will come good. But the delays are frustrating and you do wonder if anything unsavoury is going on that we don't know about. And I'd also say I am a patient man, but I would like to reap the rewards of this while I'm still alive and in good health!

In the interests of balance, my key positives are:

- We do have oil/assets

- We do seem to have the MG on our side

- We know at some point there will be a refinery that needs oil

My key concerns:

- We have a weak negotiating position, be it dealing with the MG or PC or whoever else

- We are not currently making any money, so delays could mean needing to raise cash/dilution

- Corruption and Mongolia being sandwiched/land locked between China and Russia

Absolutely. What are our alternatives to PC? also, MB stated very clearly he only wants to use PC until the refinery comes online. If I was PC, I'd be thinking is it worth the hassle for such a short term agreement.

BP - I don’t think PC would be allowed to take them over. And anyone else isn’t going to touch PM with a barge pole when there’s so many loose ends, such as no contract with PC.

Hamm (bot) - which broker do you use?

WOS - show some humility, admit you’ve got it all wrong? All this any day now now very soon was complete nonsense.

You forget I was the one who said September and which you said that timeframe was wrong and not logically thought out. It seems even I was way out. This will very unlikely now be resolved in 2023… incredible.

Why anyone is still “recommending” your posts is beyond me.

WOS - we’ll see what the market thinks of it all in 30 minutes.

I have reset my timeline to Q2 2024 with the next battle likely to be with Petro China and getting a firm contract, not an MOU.

You really are having a meltdown about all this. Not dissimilar to one of Hamm’s episodes. I wouldn’t mind, but you are another one critical of those who haven’t toed the “any day now” line.

It sounds like you’re possibly over exposed here (we’ve all done it) but honestly it is best for your mental health to write this year off. If it comes in before then, great. But I’m not counting my chickens.

Not just pesky local government. There’s also the very important contract to get sorted with Petro China. An ancient MOU is anything but sorted.

I have genuinely written off 2023 here. We’re already halfway through Q3 with plenty it appears still to be done. If we somehow get this sorted in Q4, bonus. But better to have a reset of expectations. It’s really frustrating and I do still wonder if we, and MB/MATD, are all being taken for a ride here. But I have my shares and won’t be selling any. But equally I’ll not be buying anymore.

WOS - but as MB himself says in this interview, the primary objective here is Heron.

WOS: "MOU already signed with Petro China for oil sales agreement which is followed up with MRPAM help"

MB says:

"We also need the oil sales agreement sorting with Petro China. We have an MOU signed with them a long time ago for general cooperation and oil sale, so we're following up on that and MRPAM are helping us to get that sorted because I don't want to make the well ready for production and then not be able to produce it because there's no where for the oil to go."

An MOU is not a contract or agreement. So this could be another sticking point.

Either way, the fact remains this is far from sorted and I'd argue this year is now in danger of being lost to more bureaucracy and paperwork.

Tried to quote these as close as possible to interview:

"Local management agreement needs to be signed...

Local herders need to be compensated...

Provincial and district government now have to act on central government order...

July holidays didn't help...

Local agency have sent out all documents...

speed of this dependant upon provincial and district governments and will determine timeframes for Heron 1...

MRPAM want us on stream this year, we clearly want that, too.

We need oil sales agreement with PetroChina sorting out, they had MOU signed a long time ago for general cooperation."

Then moved on to Velociraptor, disappointed with that. And comments on Sunsteppe/renewables. Happy how JV is going so far.

"Heron 1 is "big target", really want to get that on stream. We'll try to give updates when suitable to give."

Hmm, I think I might need to adjust my September timeframe!

“So where did I call you pathetic ("or whatver")?

I couldn’t recall if it was pathetic, hence saying or whatever. But it was “pitiful” as well as criticising my post for not being “scientific”, which it was never intended to be!

You’re an odd, odd person, Ojay. Full of hypocrisy and double standards.

Master, you are the last broker I’d ever use! Or actually, Hamm probably gets that honour.

It’s pointless saying “oh I can sell my gazillion shares in one go!!!”. The order book is continually changing and it doesn’t mean anything. Anything for a decently large size your broker should be ringing through and getting a proper price for you.

Hamm - what broker do you use???

Ojay, here you go:

02/08 @ 19:02: “I agree with Horsers: You don't care about being scientifc (to say the least) and you've got plenty of time on your hands.

Nice try with your post @17.48 - pitiful.”

So your post today saying “We should be helping and not fighting each other” is pretty laughable, don’t you think? Or hypocritical is perhaps the best way to describe it.

Ojay: “We should be helping and not fighting each other. Let's hope one day.....”

So that’s why the other day when I posted about the days RNS’s typically land you decided to have a go at me, calling me pathetic or whatever it was?!

Hamm / Master - who are your brokers? I’ve never had an issue buying or selling decent volume in this stock. I think you need a new broker.

Lol, so even master82 who has been super positive but has dared to now have a moan is the target of WOS!