Member Info for Ibiza28

WOS as always your logic is extremely logical but i would only say that there is a long way between logic and anything that seems to happen in Mongolia.

The question i have is would we be made an offer before we start to explore Heron or would we wait till we get the chance to explore that block. Would just sell block XX and keep rest and carry on or sell rights to Heron unexplored.

Once we get this LP it will be a very interesting period. The problem is how long is it going to take to get this LP. Hopefully this posting on FB is an indicator.

Finished and the deal agreed and signed off. And that WILL blow the doors off.

It occurred to me to day that so far on this PG has done very little by the book so rather than give a RNS that tells us when the equipment will arrive and testing will begin he might just give us an RNS telling us testing has begun.

Neither i think they were just for show.

Very good analogy having been to a Llama / Alpaca farm a couple of years back i can vouch for the differentiation.

I am beginning to wonder do they have electronic banking in Mongolia. How long does it take send a few bob down the line to Eastern Province or is on its way by Yak Express. When if finally arrives do we have another eternity to wait till the final signature is put to paper.

I am not even certain about this RNS regarding the shareholding. Whilst being true as of this moment i have no doubt but it does not include 4* 1.25m option rights at 12.5p which will almost certainly get taken up when we start testing and this share will almost open at that point 25% higher than now and move rapidly north from there.

This is our year 2024 I am sure of it. What the price will be i have absolutely no idea but in that pricing whenever we get news of the testing results hopefully toward back of February we need to factor in what ever CM might be plus not forgetting that anything could happen with Ireland. I know what i am hoping for but what i get may be something completely different. Happy new year to you all and i have a feeling it could be a very good one.

Oh i do like a good laugh especially at this time of year. Here we are Xmas is now on top of us and we are still waiting on the final signature on our Land Permit. Pushing it a bit to be by the end of the year. Now already we talking about being taken over by Petro China more like Petro - Moonex would be more likely.

I am more concerned about what happens if this current government loses the next general election it will not go unnoticed by the electorate that this government has presided over a massive fuel shortage when they are sitting on top of a massive oil fields and done remarkably little to push this forward. If they get kicked out they will have deserved it. So my view forget the idea of a takeover and more likely (in time) that PM becomes a major oil producer in Mongolia.

Personally set yourself a figure and get out around that figure before the General election starts. Governments presiding over fuel shortages and outages tend not to do too well. Happy Xmas everyone

Just thought i would take time out to wish everyone a happy xmas and let us hope that it will also roll in a very prosperous New year.

I am hoping that the delay in the RNS would be because PG cannot get the supply test equipment with a guaranteed date and hope that this gets resolved between now and January 2nd. I would hope that testing will start no later than middle end of January with results through by middle end of February and hopefully even some news on a sales agreement by end of February. But quite frankly i think i would find it all better if it slipped a few weeks. But sometime first quarter would be great.

I also have hopes for another share but that will not be any where near as big a deal as i am hoping this will be.

Have a great xmas and new year and finally GLA

Speaking personally i would just like to get out at a fair and reasonable price sooner rather than later. I do want to try and milk this for everything that it may have and the higher the amount the more i am likely to leave a few shares to see what else happens. I will settle for around the £100 a share mark.. Just kidding.

I think the deal could come in two halves. Test and prove up one part then later on do the Jurassic.

Agreed test thoroughly now that is why we raised

I struggle to understand why you would cut back on the testing unless you think there is not enough money for the testing. The selling price will depend on the testing otherwise we would have announced the sale already and we would all have a good xmas.

You cut back on testing if you think you are not going to be match the expected results. But even then it is down marginal returns v marginal costs,. Would the cost of testing an extra meter be exceeded by the return for testing that extra meter.

I agree the basic agreement is in place but the whole price will be decided on the testing. So i reckon the more we test the greater the price. IMO

It does say 2024 but this is a technical report and written back in October. I would expect something a lot sooner than December 24 for a new buy out of another business than 15 months later. I think just demonstrates i think how stretched PG and Lonny are at the moment that they cannot properly proof read their own RNS. maybe the meant 24th December but then that is a Sunday so not really on. So who knows Dec 2023 or Dec 2024. Take your pick my money is on an error and now being held back because he wants an definitive testing date to add into the RNS.

Sorry you are right i thought it said December 23 after all that is when we were in Oct 23 actually reads Dec 24 just assumed 23. Apologies must read more carefully.

The only reason we are expecting a RNS re CM is because he said there would be one by end of December. As has been rightly pointed out if we do it between 23 and 30th December it will get lost in the noise of Xmas etc and no affect or limited effect at all.

Find me

Thank you i stand corrected.

Find me

the oil drilling part of the industry works 24/7 365 a year but the oil supply business i reckon would work around a normal calendar i am guessing and ti is this part of the industry that would be providing the equipment. And if this equipment is coming from France it is possible that they would celebrate both xmas but also the 5th January like a lot of RC countries do. Therefore i am not sure how open these supply business are during this period. But if you know then please let us know. I am just giving one or two of my thoughts rather than stating this as all fact.

I do like this idea i will just put in the back of my van and roll up it up to every well head. Someone who can invent that has made himself into an over night billionaire. Fantastic idea i will put it on my xmas list.

I have been reading this report by WOS (much appreciated intel) but find it all rather hard to believe.

It reminded me slightly of an old joke i used to have with a friend of mine when he once told me the job he was looking for did not exist. Puzzled i asked him what that job was and he said i am looking for a job with "All the authority and none of the responsibility".

Now i am reminded of this with the little governor of Eastern Province who seems to have total authority and complete power over the whole of the Mongolian Oil problem. I tend to agree with the DP leader who puts the blame more squarely on the shoulders of the MMHI. The Mongolian Oil shortage is not going to be resolved by us being granted the LP or the SP or whatever permit you want to call it. As much as the oil we have and the oil we may have in Heron it is not single handedly going to resolve the oil crisis in Mongolia. This comes from far higher up the chain probably MMHI who right from the beginning back in May wanted in have been saying all the right platitudes in public but actually doing very little in the background.

Yes a court case against governor Eastern Province by the MG would probably help us and hopefully get our LP over the line and that is after all our main focus. The next step or steps would be up to us and how we fund the whole thing.

Funding will be either some form of RBL or greater give way in a JV or another placement but not at current prices it would come at next plateau up prices after the initial furore of LP has finally been granted. Also if it is just a top up for drilling then it might be a rights issue aimed at us members.

As far as the Mongolian Oil situation the governor of the eastern province is not the problem he is becoming a pawn in a bigger political game. A pawn by the way i would like to see moved or taken off the board.