Member Info for Dozzawba

Adill I can see where you're coming from, but the thing that tends to make me disagree is that the major shareholder is Petrovis and chairperson for PM is the CEO of Petrovis. Reading between the lines here now and info gathered,
I think the only way this impasse is sorted now is for MB to go, he's done great by discovering oil, you can't take that away from him, but I think his hands have been tied to a certain extent, he's had Covid and China issues, slowness of getting the Exploitation Licence, stuff that has been totally out of his control, but most likely him wanting to get the job done i believe he has got totally frustrated with it all and to try and move it forward he has totally screwed up by upsetting the locals, and for this reason I can see no way forward with him as CEO. PM needs to build bridges with the locals and I don't think he can to be honest. Just my take on it

Hamm totally agree with you on the lack of communication, explanation on what IS actually going on. This is my biggest issue with him, his communication is very poor and this is my personal point of view I think he comes across arrogant and I believe this is part of the issue with locals and I really do think he has burnt his bridges with locals after the problem the company had during the exploration drill with police etc. I really don't think he has helped himself on that basis. That's why I say that this is now totally in the hands of the GOM to overrule the local government, so in other words overruling their own law.

Hamm I just think it is as simple as it is. Buck.aint fkg us over he's got 8 million shares - I'm not sticking up for him, but he has NO CONTROL over the Mongolian government and I think that's where we are at the moment.

It s more clear where we are now and why, but still doesn't change the fact PM have not been totally up front with us, but then again I believe PM have thought the issue was being sorted and probably been told so by GOM ministers but have been played. We are in limbo Tbh. The Mongolian law on land access is absolutely ridiculous and open to corruption. To allow a local governor to be in control of land access and donations having to be made by the company to the locals to secure that land access is unreal and also having to guarantee that the company will employ locals is again open to nepotism. The GOM are the only ones who are going to sort this out,but this idiotic law needs to be changed to take it out the hands of local Governors. The cost of the licence should include a "donation" payment for local use and that amount of money should be made known publicly and then the GOM sends to the local governor to distribute accordingly. This way he is accountable. They should also incentivise companies to employ locals, it should also not be in the hands of the local governor to decide - how stupid is that.
At the end of the day MB needs to update investors now. We are into November and another year has been lost and he needs to explain this in a RNS

Here's the link if anybody interested - you will need to use Google translate https://twitter.com/ikonnews/status/1588388739721486338?t=h9wMBwqzqvK2I-nFb0s_VA&s=19

Below was a piece written by Mongolia's Ikon news - interesting part is ref the local donations and jobs, this is open to so much corruption, it's bloody unreal and this is law !!

Member of Parliament Sh. Adshaa has informed today about his opposition to the introduction of the Mineral Law along with the Budget Law.

He said, "The issue of the Minerals Law was introduced along with the Budget Law. Article 42 of the law includes the provision of signing official contracts with local self-governing organizations and making donations. Also, companies holding mining licenses in the locality are required to create jobs, The issue of the relationship between Mongolian and foreign workers is brought in by law.

Jimi what stinks about this is the Mongolian government issued and sold the Exploration licence to PM and no doubt charged PM for that licence knowing full well it wasn't a piece of land classed as special status. So PM had no right to drill on that land as it belonged.to someone else. So GOM took money under false pretences. Also someone in PM must of also knew this otherwise if they didn't they have been very naive. Or was it a quiet chat in a hidden corner, don't worry pay for the licence we'll get it sorted when needed.
With regards that statement you posted Jimi i cannot see the locals ever agreeing to this unless there is a huge incentive for them, other than that the GOM will need to overrule the locals which is where I believe we are at the moment then

Thanks Jimi, interesting read. Yes could be what is referred to as a court case. Still think Mike Buck needs to come clean on what is going on as I personally think we are not being told the full story here ref the land issues

Agree Simon on that, cannot believe they don't care, perhaps the situation has not been handled properly. What I would like to know is it has been posted that PM took the governor to court over the land issues when we were exploring for the oil in block XX. Where did this come from and is it fact ?

Hamm the way I see it at the moment is that they have no answers on the land issues. They haven't got a clue what's happening with it and believe MB is being fobbed off. Thing is we are now in November - another drilling year lost and radio silence from PM. Mike Buck needs to come clean with investors on the numerous info the RNS's have put out this year. Where is the equipment which was supposedly at the border, where are they with renewables they mentioned previously, what is the update on the land issues. What are they all doing at the moment to earn their salaries. The current silence is deafening. I'm hoping it's no news is good news but for the first time i'm not so sure. Let's hope i'm wrong. I am still in, underwater and really want this to come good for all us long term sufferers

Not sure if it relates directly to PM

? THE 12TH REGULAR MEETING OF THE PROVINCE'S CITIZENS' REPRESENTATIVES IS HELD

Today /October 28, 2022/ at 09:00, the regular 12th meeting of the CIT begins with 79.3 percent.
Two issues are being discussed at the meeting.

1. Regarding the official letter No. 1/4715 of the Department of Minerals and Petroleum, "On Conclusion"

2. Acquisition of oil pipeline protection strip land for special state needs

Hamm, biggest issue and most frustrating and is a fact is the lack of communication from PM. IMHO it's absolutely shocking. Anything other than we are just presuming. We just don't know and yes I am p*ssed off with it as well. It's the not knowing. PM needs to update investors.

Also Petro Matad's Twitter account - worth bombarding that as well.

Perhaps people want to post on this twitter page. Philip Malone is also on twitter - UK Ambassador to Mongolia - Petro Matad being a UK AIMS listed with lots of UK investors
https://twitter.com/UKinMongolia/status/1584403022557237248?t=lQLXhPJv3EyX9xLxbyDFxQ&s=19

Totally agree that the main issue here that most investors have is the total lack of communication from PM. It's actually appalling and an insult to investors.

Ojay the way I see it is my personal POV - PM had to pay for the Exploration Licence on Block XX. So paying for this without the land being special status ie allowing them to also exploit oil they discovered is irresponsible on somebody's behalf. Somebody is responsible for making this decision. Therefore us investors have funded a mis-sold licence.
Also I believe the GOM should not be "selling" these licences on any land that is not special status. GOM also wants to attract foreign investors !!! - bloody hell they need to sort simple stuff out like this. It's actually astounding in my eyes

Another question how can the Exploitation Licence be granted when the land isn't special status. Have PM had to pay for the Exploitation Licence, if so this would be a total irresponsible decision by PM. Thoughts !!!

Just a thought would it also be worth trying to contact Petrovis ref the treatment of investors and our dissatisfaction. They obviously are also investors and their CEO is chairman of Petro Matad.

Whether this relates to the oil industry as well

https://www.facebook.com/100063174971388/posts/pfbid0S69dyszj6AR6CQLRHVriYjN6pZRYZEG1xn7HdsTSKu47asyXHhVUh9DzAwTAUAYpl

Hamm, perhaps it's best someone takes the lead and produces a list of questions and then others can post additional questions to add to the list, otherwise you will be getting loads of duplications as I am sure we are nearly wanting to ask the same questions