Petro Matad & Petrovis7 Feb 2022 13:58
Good post on ADVFN ref the relationship between Petro Matad & Petrovis
Done some research on Petrovis this morning (largest shareholder in Petro Matad with 21% holding):
hxxps://petrovis.mn/?lang=en
Mongolian headquartered company, I assume all there assets are in Mongolia, described as the "Largest Mongolian Petroleum Company" on there LinkedIn page.
From the website (note I had to use google translate from Mongolian to English)
Petrovis have 400 petrol stations, 300 road fuel tankers, 36 petroleum product warehouses with 200 million liters of storage. In short a big employer in Mongolia who is likely to have some clout when dealing with government and add some credibility to Matad (who are minnows).
Petrovis have significant experience with storing petroleum products (storage tanks & tank farms) and transporting said petroleum products by road tanker.
There is significant overlap between what Petrovis do and what Petro Matad want to do... Petro Matad needs storage tanks and pumps to get the Heron field online, and road tankers to move the product to the PetroChina facility. Petrovis will be able to provide local expertise in this area (such as recommending local Engineering Procurement and Construction companies who have done work for Petrovis facilities previously) and potentially partner in on the road tanker side of the operation.
Also given that Petro Matad's largest shareholder is a fully headquartered Mongolian heavyweight leads me to believe PM should receive favourable treatment from the Mongolian government.
The more I look at Petro Matad story the more convinced I am the Heron field will be brought on stream and end up a success, it looks like all the ingredients are present and its now just a case of waiting patiently on the actions to develop. All against the backdrop of a high and rising oil price.
I'm very excited about where this one can go over the next few years.
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