Member Info for Dozzawba

Ref the reserves and EL - yes 9 months is too long - but there have been numerous reasons for the delay as we all know - Covid, elections, totally overhauling there O & G procedures to follow international standards - training on these standards to all relevant departments MRPAM - MNMI - further training was carried out last week - don't forget they haven't issued an EL for over 10 years so PM are basically a guinea pig for the government using these new procedures - as mentioned previously imho i believe we will hear news by end of October

Further training took place on 16th and 17th Sept with MERIT who are a non governmental organisation - for people interested MERIT are on Facebook.

Imho - please see link which is more training for MRPAM employees - as previously mentioned i still believe that the delays are nothing to do with PM but the effects of election, Covid and implementing and training people in the international law of O & G exploration. As you can see in the below link further training for MRPAM employees took place last week

https://www.facebook.com/1116638868397402/posts/3432181933509739/

Totally agree with you on this Gkhan - imo would not be surprised if also the delay is because of the reasons you stated because the government will be questioning PM on their future plans, how they will finance their plans etc before granting this EL and also extending exploration licences moving forward, how many wells they can drill with the funds they will have and over what period for the reasons you stated ref the oil refinery. For these reasons imo PM will need to team up with PC doing the drilling which will be cheaper but PM retaining the 100% licences - so oil finds goes to the refinery and not China - but will PC go with that - just my thoughts though

Gkhan, hence why imo i believe we will be fine, there's been exceptional times this year which have held up government decisions. Covid, elections, basically rewriting their O & G exploration rules to match International rules and regs. Training of their staff on these new rules and regs only took place end of May. So government never really started looking through PM info until after then. Due to the spending of huge money on this oil refinery it would be suicidal for the governement to screw over PM - what kind of message would that send to potential other O & G explorers if they was looking for foreign investment - i also cannot see a land permit causing a stop in getting that oil out the ground - the land issue caused the halt pre drill but was then allowed to recommence and then PM struck oil - why not stop it prior to the drilling. As per comments made on previous posts i tend to agree with Spainish who i believe lives in Mongolia and said he thought it would be September/October before we get the EL. Here's to that happening, but as we all know patience is the game but imho i don't there's anything sinister about the delay, it is not in the best interests of the Mongolian government, but i just think they want to make sure everything is done to the book - as this is the first EL for over 10 years they would have granted and will be expecting to be doing more to fill that oil refinery. Anyway imho - GLA

Here you go Gkahn
PM U.Khurelsukh visits construction site of oil refinery plant infrastructure
https://montsame.mn/en/read/235472

GKahn - news announcements recently show that the build of the refinery is ongoing - apartment blocks are being built - i will try and find you the link confirming it but must say it is not on hold

Latest news ref the Oil Refinery - imho bodes well for PM
https://twitter.com/montsame_en/status/1294115142871822337?s=19

Ref the oil refinery ans the governments 2020-2024 plan - have a look at the link below - very interesing read for Matad investors

https://twitter.com/AmChamMongolia/status/1293761387890581504?s=19

Yes some good points posted, i have had no reply from my email a few weeks back requesting an update. Yes can understand not posting RNS to save costs but still think silence is not good. Even a non affecting SP comment on their Twitter page would help. I see this happening in another share i am in so can't see why PM can't post something. As mentioned before am totally into PM and go with Spainish comments of this month or next month for news. Still believe the delay is due to the governments 10 year plan which includes the oil refinery in those plans, which was due before parliament yesterday but i think put back to next week. IMHO i would think the gov are saying before we give you the licences basically - are you up to the job to be able to feed this refinery - so funding, employing local staff etc etc - will you have it in place. So believe if PM can prove this we will be on a winner - as said IMO - hoping this is the case - ATB and keep our patience

As previously mentioned Governments 10 year plan goes to parliament 10th August - this includes Oil Refinery - and i would presume anything associated with that - so would IMO expect to hear something after that date

Might be of interest below on AM Mongolian Daily News Twitter site ref oil refinery etc. IMO tend to agree with Spainish text previous about Aug/Sept for Exploitation licence. Think delay is not sinister its just the government putting together their future plans and this would include oil exploration - obviously until they were re-elected nothing could happen. All we need is patience. Still wish PM would update reularly though

Cabinet has drafted a 2020-2024 action plan and state budget amendments. Within the framework of draft preparation, the Cabinet Secretariat is organizing a series of discussions with related officials. The first chapter of the action plan will include ways to reduce the economic impact of the COVID-19 pandemic. Head of the Cabinet Secretariat L.  Oyun-Erdene noted that the action plan will be tied to the 10-year development plan that is part of Vision 2050. He stated that in upcoming years, the cabinet will make some bond payments and that development projects such as the oil refinery, railways, the Tavan Tolgoi power plant, and hydropower plant construction will be finished over the next four years. The action plan also includes increasing healthcare access for the public and renovating the Ulaanbaatar's engineering networks to recycle greywater. The action plan and state budget amendments will be submitted to Parliament on August 10. 

I was actually thinking the same Jimi - their email wasn't very conclusive - there needs to be an RNS put out on this and a full explaination. Perhaps a few other PI's could email PM to put some pressure on.
ir@petromatadgroup.com
admin@petromatadgroup.com

I have emailed PM again and requested an Operational Update RNS

Here's the email reply i have just received

Thank you very much for your enquiries.

Petro Matad’s Block XX is immediately south of Petro China’s Block XIX and we can confirm that the seismic activity has had no impact on the progress of the Block XX Exploitation Licence.

Regarding the news article which you have sent through, these are legacy issues which were addressed in partnership with central and local authorities. This matter was disclosed to the market in August 2019: Heron-1 Well Update

The conclusions of the government’s working group which was set up to resolve inconsistencies in land use legislation are working their way through the approval process.

We continue to work towards finalising the Exploitation Licence as planned and in line with our most recent operational update.

Kind regards,

Petro Matad

I've also emailed Petrovis as major shareholder to see if they can put some weight behind getting an update RNS off Matad

Same here Jim - am a LTH - and here for the raptors - have a lot invested in PM and as you said just want external news explained by PM as a PI in this company - am no deramper as same again check my posts - good find on the bottom of the Jaran post - hopefully exploitation licence will be with us soon ATB to all invested

Same here Jim - am a LTH - and here for the raptors - have a lot invested in PM and as you said just want external news explained by PM as a PI in this company - am no deramper as same again check my posts - good find on the bottom of the Jaran post - hopefully exploitation licence will be with us soon ATB to all invested

FYI Jaran have a FB page where i get the info from - also Merit is another good FB page to like which has given good info on MRPAM and the training they have been having hence why i believe there has been a delay in the exploitation licence

Jimi, i emailed Matad earlier so will have both of us at them - i have also asked for an RNS as they need to share this info. There was also 2 small/moderate earthquakes in Petro Chinas licenced areas in the last couple of days - i have also asked them to explain if this has an impact on PM