Member Info for Ibiza28

So you are saying the government cannot get involved in licenses for oil and gas becasue of a law going back to 2018. No possibility that they may have amended that law having realised it does not work and the mining minister is lying to MB.

Probably like a lot of people on here i am checking every day for the RNS that says we have been given or granted a Special Permit as indicated by MB and then my mind turns to Xmas and some perverse sense of humour gets to me that says this permit will get granted at Xmas time. Although the Mongolians (i believe) do not celebrate Xmas but more 12th Night ie 5th January they will know that we do and also have this habit of giving presents. They will know it is a tradition to give presents and will also know that the one big present we all want on this BB is the Special Permit. Now Xmas this year is on a Sunday so no presents on a Sunday so why not issue the LP on either Friday 23rd December or even Monday 26th December. They might see it as their xmas present to us. Who knows if i will be right or not. Just a thought

Thanks lets hope for something big

I have one question from MB presentation
Are we exploring Velociraptor because we are obliged to under some previous agreement or are we drilling because we really believe there is a commercial discovery under there.
The reason i ask is the presentation seemed to give impression we were obliged and at 20% CoS it hardly sticks out as wildly positive. I would hope that the CoS would be closer to 30% but maybe he is just being very cautious and not wanting to get our hopes up too much.

yes but wouldn;t the LP out trump the EL, I would hope.

I notice that from the presentation on Tuesday evening there was no mention of the big investor waiting to get involved.
Either he has got fed up with the waiting and moved on.
MB in all that is happening or due to happen forgot to mention it.
Maybe the big investor and the eventual need for cast will be linked with the placement being a direct sale to a big investor if that is allowed.
But this share has started what i think will be an inexorable rise up over the next few months at least given the odd spurt by releases of an RNS but i think all the future news revolves around us getting this Land Permit sooner rather than later. With out that i think everything will be slowed down, re thought and re calculated. And DQE may well revise their position as well.

We are a British company operating through the LSE. We are not a Mongolian company (as far as i understand) so no they cannot just take over our shares. If they want our company they are welcome to buy our shares and would suggest we start at 50p per share and work up wards from there. Now what is more possible is rescinding our license to exploit but cannot see the point of this having just issued it and now given us permission to explore the Raptor area. However there is the future and who knows what a Mongolian government will do in the future and MB does not have a crystal ball and neither do we.
And then there are the lessons of history when Stalin and the Russian State tried to nationalise the oil fields of Baku and realised they did not have the skill sets and ended up producing 10% of what they were doing before hand. And some how a MG that cannot sort out Special Permits is unlikely to know too much about oil production and giving to PC i really do not see as being an alternative.

Just thinking if MB is where he should be ie Mongolia then it is very possible that this will be a recorded interview as the time in Mongolia is 01.00 - 01.30 and probably well past his bed time. In which case asking questions will be useless.
Also i doubt if he would try to stay up till this late hour if all he was doing was pass on bad news. Personally i would RNS the bad news and run for the hills. So why chose now for this interview he could have chosen any in either the run up to Xmas or even the new year. I think the news will be good and the question is when the RNS will come out. My guess would be Tuesday morning but he would still be alright with Wednesday morning becasue nothing could have impacted the markets before then.
Having said all of that i do remember an interview with another company just fairly recently where one of the board just read out an announcement in such a drone of a voice that i have heard the telephone directory read in such a way as to win an oscar. If this happens my advice run for the hills.

I think you are absolutely right and we will find out how stupid MB either is nor is not. This share will either climb significantly on Wednesday morning or sink below the 1p mark. If there is an RNS it is very possible this share will start inexorable rise over the course of the year if the RNS is positive. A negative RNS or no RNS then this could i fear drop below the 1p mark. If there is anyway that shareholders can get rid of an CEO without an SGM then this might be it sheer resistance to SP rise could push it.

No that is not accurate I have not lost a penny on this share yet. I only lose money when i sell the share below the price i bought at. ATM i am down about 2p per share for an UNREALISED loss of several £k but i have not lost a penny of this yet. When i crystalise this holding that is when i lose or gain on this share and not until then.

Concrete Positive News - Make me laugh there is never concrete positive news. The news on Tuesday will be positive yes but will it be definitive and unequivical very doubtful. Will it be bad no i doubt it if it were bad he would doing a RNS i would reckon. It will be positive news but there will be caveats involved which will get pounced upon here the main caveat will be Covid and the new lock downs in China. Now as much as people think that MB has influence i very much doubt if that includes China.
As regards a cash collection of passing the hat the answer IMO is no definitely not or definitely not yet. Push the share price up and then go for the cash raise when share price reaches 10p either by means of a Rights Issue or Placement. Or Maybe even a direct placement if allowed with the big institution lined up to come in.

I agree the $64k question is the cash flow both literally and metaphorically. We have not heard a word on the cash flow well because we have just not heard a word. If i am right i remember hearing sometime ago that the management was on half wages and i am assuming they still are as i have not heard anything to say they are back on full wages and i would hope that would slow the drain the other is that Petrovis, our senior partner, might lend us some more if they knew that something was due to start shortly. Otherwise would appear to have f******d ourselves by allowing the share price to drop to such a level that a share raise would be massive at a very low price. At the moment we just have to wait and be patient it is quite frankly out of our hands but then is it ever in the hands of a few shareholders.

The people of Mongolia may not want drilling on their land. No one wants drilling on their land but they are really going to have very little say in this. Mongolia has a GDP of $15.1Bn they are planning to build and have indeed by all accounts ordered and signed off on a Refinery costing $1.3bn That is almost 10% of their GDP that is one hell of a large commitment and the government is going to have force this Special Permit through otherwise the country is massively going default on its payments to India for the refinery. Also as much as they would like to wait for the refinery to be built they before drilling for oil they will need the oil to pay the bills because the Mongolian tax payer is not going to foot this and i doubt the International Development Bank or the IMF or European Bank are going to lend this size of money in a rush.
Be patient folks does it matter if we drill this year this permit will come through it has to be taken out of the hands of the locals and the local government. A bit like a compulsory purchase scheme as would happen over here. When this comes i hope the people on here are right in it coming shortly this share will be close to a double digit multiple of this price in no time. Then if Velociraptor comes off then watch for blast off because getting any shares at that point will be like gold dust.
Yes the lack of news is annoying I do not think this necessarily MB lying to us rather the fact that MB had been given assurances and misled by the GOM case because i do think even the government was not aware of these land issues till recently that is why they are meeting to try and find their way around it.
The annoying bit is they all seem to convene to discuss the changes, have very possibly decided on changes, and then realize the all important big wig is not their to sign off on it so they all have to re convene so that the Big Mongolian chief can sign off on it all. Here is hoping, but i am not buying any more for the moment but if this drops below a penny i may throw in another few hundred in and see what happens.

Thinking back to correpondence with the British Ambassador in Mongolia. It seems he knows more about the situation than we do as regards what is going regarding the license. Seeing we are getting no information from MB maybe we should ask Our Man in Mongolia for a RNS on the state of play.

Is it just me or is not this slightly encouraging. They, the mongolian government, recognise they have a problem that is partly if not largely of their own making, I think, in time they will get this resoloved because it is not just us but the whole of their econcomy going forward. Fingers crossed.

Please i know we are all very disappointed / down right annoyed and angry at the lack of news after the promises that were made but let us please try and keep to the facts and not speculation as that just leads to rumors and pure guess work and could panic a lot of people.

Dear Mike,
I gather from what you have said you read this forum and i would guess take note of it and hoping that you will take note of this.
I have been away for several weeks having a holiday in the states so i managed to keep up to date to a degree with what is going on or rather not going on.
At the point i left had you had stressed you were still expecting to drill for oil this year. That is how it came over to me as you had plans to bring the rig in from China as soon as the borders were opened. Obviously something changed your mind between that presentation and the latest RNS. Perhaps you can update us on what forced you or persuaded you to change your mind.
We were also waiting on a court ruling i believe regarding Land Permit. Can you give us an update on this as well. All of this causing a lot of tension on this board as you can well imagine and an idea as to when this court case is likely to be would be very much appreciated. I would assume it is still to come as i am sure if it had already happened you would have passed on the news as i am sure it would be price sensitive and therefore need to be reported.
Also i gather there was to be meeting when parliament re-convened around the beginning of October i believe it was about giving us a special permit. Again can we get some idea when this hearing will be. Most of us, are obviously in this to the, end but a little communication would be much appreciated now that we must be heading into the winter months.
With all sincerity

Yes so do I but to me seems to be logical
.

Just recently i have bailed out of another oil share that is now currently showing a market cap of £150m and they have discovered very little if anything. We have discovered, we know it is there and there is a substantial amount of it. Our market cap at the exalted heights of 3p is £27m. For those who wonder but £150m would be a Share Price 16.67p. So IMO on any news that is positive this share should re rate quite comfortably.
As i have said earlier i am certain that something is happening in the background otherwise we would have heard about the rig arrival or even non arrival as that would be news. The fact we have not heard anything indicates to me at least late last minute talks or negociations. GLA

I really do not know what to think. We were informed (not by RNS) but on an investor presentation platform that the Rig was leaving China and the south border was opening shortly. That was about six weeks ago now. So either we take the view that the Rig has arrived and we still await LP or the Rig is stuck on the Chinese M1 awaiting road side assistance or has got lost because it sat nav does not work in Mongolia.
The other alternative and one which i am rather desperately clinging on to is that there is a deal in the offing with someone that is close to fruition and that is why there is no information coming forth as it all could/would be very price sensitive. Let us just hope for something very positive shortly.
The Rig arriving on site would be news, big news and this should have arrived by now and wonder if any of our eyes and ears on the ground in Mongolia have set their eyes on it. So if that is not being reported there has to be something big in the air.