Member Info for GKahn

Excellent post OST, I agree 100% with your views

Excellent post Ibiza (Wednesday 15.28). I have a few additional points:

The timeline for completion and start-up of the refinery must surely be slipping and adversely affected by continuing lockdowns in China and border closure on procurement of materials and available workforce.

Oil production, mainly from PetroChina’s blocks, has been falling year on year. Thus, unless significant domestic production
developed and brought onstream well in advance of refinery start-up or supplemented by crude oil imports railed in from Russia, the refinery may not be operationally nor economically viable at low throughput levels, particularly given the winter conditions.

Post the Soviet satellite era, successive Mongolian Governments have been keen to attract Western investment and expertise. However, being surrounded by Russia and China and given the current geopolitical situation, Mongolia is unlikely to attract Western interests, particularly for its oil sector. In the circumstances, the authorities should appreciate PM’s predicament.

The Mongolian government has its problems, but ironically the situation in China may be buying them some time to resolve issues; but this will be of little comfort to Petro Matad with its very limited financial resources to see the company through to a successful outcome.

He has posted 689 times over the past 30 days. Adjusting for weekends, this equates to more than 25 posts per day, thus the board has become cluttered by his repetitive posting.

Member since 20 December 2021, posting 690 times (15 times per business day), predominantly Petro Matad and Evraz. One does wonder whether this keyboard warrior has a day job and employer?

Hamm, Manro, badprophet, aspers & Horsers

Mr P

Jodo: I agree: I have been a shareholder since May 2008 when Matd got its AIM listing and I have added to my holding recently. I find the repeated and excessive posts of a few on this board very irritating even if some or their posts are well reasoned.
Mr M: welcome back

Excellent post Metalhead, many thanks

FairAnalyst has been a member since 20 December 2021. Over the last 57 days he has posted no less than 133 times to educate us! As a shareholder since admission to AIM in May 2008 and holding of more than 1 % of PM’s issued equity, should I take him seriously?

Locky
I believe that the AGM is for the year ended December 2020 not 2021 and they may have been under a deadline to hold the AGM. I therefore doubt that the AGM has any bearing on the timing of much needed news flow, particularly securing a rig contract

I agree with Pauly80. However, as not everyone follows Twitter, it is entirely inappropriate for Twitter and similar platforms to be used for communications. Responsible CEOs rely solely on RNS and on presentations and interviews that are available on company websites with notification that such presentations and interviews are available to all on a timely basis. BT is using Twitter for promotion and is irresponsible.

hel on to kdnc??

I believe that the Mongolian Government were never going to grant the Heron exploitation licence based on a wholly unfunded operations plan. If one examines the timetable of events, the funding was surely finalised shortly prior to the grant of the licence. In my opinion this explains the low placing price, the quantum of the raise, i.e., sufficient for just Block XX and no mention in the RNS at the time of plans for Block V. Bear in mind that, in the months prior to the exploitation licence approval, Mike Buck had indicated that he wanted to avoid any dilution. Thus, the depressed placing price and the size of the fundraise came as a nasty surprise to the market. Some might argue that, if adequate funding for Heron development was a precondition to the licence grant, why wasn’t the precondition and timing not explained in an RNS? Clearly, a tricky situation not only for PM but also for the Mongolian Government, but there may have been ways to finesse the issue, but more likely PM sought a dispensation from the AIM team from having to reveal the exact timing of events.

Also filtered. This is aBB for Petro Matad and not vaccine issues

PM doesn’t need a JV or farm-in partner to develop Heron and pursue other prospects in block XX as it is adequately funded. While PM may keep the data room open, I believe that a credible company would be more interested in a full takeover of Petro Matad. Essentially, why would any substantial company farm-in with a financially weak partner and not have operatorship? In my opinion PM should be better off going it alone and creating value for shareholders which hopefully will be realised by an attractive offer in due course.

Ojay, thank you
Why don’t we steer the discussions on this board to issues that are relevant to the future of Petro Matad and hopefully curtail the absolute rubbish we read every day from prolific posters. I would like to see discussion on and promote the prospects for a takeover offer for the company. We have reached the point where I believe a bid offers the best prospect for a reasonable return for shareholders. I have been a shareholder since day 1 on AIM, more than 13 years ago and I am now a holder of nearly 1% of the issued equity. The question I ask myself with increasing frequency: should I maintain patience or bale out? With the support of Petrovis, the board should engage a new adviser with the mandate to find a buyer, and do so without any further delay

SimonP
He is unlikely respond as he is an Oxford educated Old Etonian Actor who intends to maintain his anonymity

I somehow doubt there will be any drilling next year, either because of a resurgence of COVID and related restrictions (e.g., closed border with China) or lack of an available rig.

Without a rig contract and an open season for drilling next year, I can’t see any progress being made with negotiations with PetroChina for handling and sale of potential oil production from Heron. Moreover, I doubt there will be any interest for a farm-in given the uncertainties. In any event, if there is a company interested in Heron, surely a takeover offer for PM would make much more sense for a new entrant than a farm-in with a financially weak PM, and there is also the all-important issue of operatorship.

There has been no mention in any recent announcements of a plan for Block V drilling of the Raptors before the exploration licence expires in mid 2023. If no wells are drilled next year, the window of opportunity will be too short to have sufficient success to merit application for an exploitation licence. It seems that PM will have to reapply for a new exploration licence for which there will likely be competition. PM has established that the Raptors are excellent prospects for which another company could reap the reward.

It is very disturbing indeed to learn to hear from Spainish of the problems for PM in UB. What is needed now is a takeover offer for the Company as there is considerable value in the existing reserves, development potential and the exploitation licence whether or not there is drilling activity next year.

In my view the Mongolian Government should be supportive of a bid as its interest is to see a high level of activity by a company with financial strength and the expertise to develop Mongolia’s oil riches ahead of the refinery start-up. It is also worth noting that Petrovis was an early advocate of the refinery project more than ten years ago, particularly by the former chairperson of PM, Mme Oyungerel (who is sadly no longer with us). While Petrovis may still support PM its primary interest is in securing an offtake agreement for refined product.

I am hoping that we will see a takeover for PM, in the not-too-distant future.

Still no mention of any exploration activity on block V (Raptors) during 2022 and the licence expires in June 2023.

Thanks, but how is it relevant yo MATD