Member Info for Ibiza28

Must admit I am hoping for an RNS in the very near future. After all we are now in June or at least will be tomorrow and the borders with China are now back open and hopefully MB has been in touch with his counter parts at DQE since the lockdown began. We should get a RNS just to update us on where we are at. If we are going to drill and exploit this oil this year this is surely the time to do it. The oil price seems to be going up rather than down thanks to Russia. Considering the amount of oil we have and what the price of oil is at the moment this share price is ridiculously low the doubt is over whether we will exploit it or be allowed to exploit it. Time for MB to put this out and get it settled. Basically do I sell for a loss at the moment, or do I hang on see it rise this year considerably or do I hang on and wait another year for that rise. We have been very patient and understanding, bar a few, through this Covid, Mongolian red tape, Chinese lockdowns that I think we all would want to know sooner rather than later.
As regards the share price another company i was involved in had a market cap of £450m and they had not discovered anything just gave out a lot of hot air. now if you want a company that was suspect ( i will not say fraudulent) it is that one.) I took my medicine and bailed out quickly. We have oil and yet we have a Market Cap of 27m. Whilst i do not expect a rapid rise to 50p just yet (ie 450m MC) I do not think that with current oil prices a bit of decent news there is no reason why we could not reach 25p (ie 225m) before summer is out especially if we also explore Velicoraptor. Now if that exploration succeeds then quite frankly all gloves are off at to what this SP could reach and when.
So in short MB let us have some news soon.

If TW is trying to short / depress this SP it almost certainly means we are building up to something very shortly. He would not be trying this if he felt that drilling / exploring was definitely not on the cards for this year. I think there will be an announcement of sorts in the very near future otherwise why de-ramp now. If i had the spare where with all i would try a little top up.

I have come across this bloke before and is a little bit of a trouble maker. The last time was just before something big was going to happen ( it did not materialise) but certainly he tried to put his oar in then. I thought we were fully funded anyway. Anyway i am cool if it means waiting, which i hope not, I will wait, the upside here is just too big to ignore imo.

yes the borders are open at the moment and everything being equal will hopefully remain open but that does not mean they could close again at any moment. The point i am trying to make is that although much of this is in MB's hands and one hopes he has had zoom contact (as he enjoys zooming) with various senior people at DQE and also he Mongolian Government during this time. If he has and once the borders become fully operational then hopefully we will get a good RNS shortly.

The drilling will be when the drilling will be. A small matter of a country gone into meltdown ie china over Covid is going to drive this so whether MB promised or not is almost irrelevant. If China impose another lockdown or how they come out of this one will drive this. As i see it that is the long and short of it. You could be the Messiah but unless you can get China to change then it would be useless. It is not just the rig or the contractors but also the ability to get the product across the boarder to the refinery. We should hear soon enough one way or another. Either bail out now and come back when it hits 2p or stay with it and watch it go to double digits in double quick time. It's your penny and your bet Red or Black. you Choose. GLA

I would hope 9p would be a very early stopping off point given a decent RNS. After all we hit 8p not so long ago with no license i believe.

I wish it were that simple grab a couple of Jerry cans shove a bit of oil in it and cart it down the road. Somehow i doubt it.

Thank you for this Jimi but i am just a bit confused was anything decided or was it just a talking shop with nothing really said discussed or resolved. Do you think it has moved us any nearer or are still miles away or at least appear miles away. Or once China open up we can move forward or will we still have this issue over rights permits and licenses.

Personally having sold out i am disappointed for myself but not for others. I wish you all the luck and really hope this share gets back up to the levels it was at for a while. I know some on here have been waiting for a long time and just hope this pays back for them. Envy is such a wasted emotion i have never had time for it. And as regards luck as Gary Player said when asked if he was lucky "Funny thing the harder i work the luckier i seem to get" so i do not believe in that either. However GLA

Conditions in China are such that we have virtually no ability to predict our performance in China in the back half of the year.
Howard Schultz
STARBUCKS, INTERIM CEO

We are not the only ones suffering from Covid it is affecting everyone and i mean everyone. Once China wake up to the fact life has to go on otherwise a simple solution for Xi would be put down the whole population.
This is the long game we have played the opening gambits now its time to sit on what advantages you have gained and try and put pieces in place for when the end game starts. Patience is the key i think

As i read it and also see it from looking at the news. China needs to stop over reacting to every single case and imposing massive lockdown restrictions on millions of its citizens for a single case. This must stiffling its economy and consequently having a knock on effect with oil storage in Mongolia. Once China starts to relax those restrictions and i do not think we can blame this on MB then things should start to restart. We should start to see workforce move across borders and oil start to be used in China again and then the oil will flow from Mongolia. This is not the end of the world just a bit more patience. This has been a long game for some and will remain as such i have moved my estimates by another year now. Shame because the oil price is so high at the moment and we do not know what it will be in a year. My car wants the price to come down my shares want it go up and i am playing piggy in the middle between the two factions. lol and GLA

I am getting slightly more hopeful, only slightly, but every bit helps. Not enough to put any more skin in anyway not for the moment. The reasoning and i grant it maybe floored is assuming that any price sensitive information has to be imparted to shareholders whether good or bad means (to me) that this FB news of revocation of licenses is a storm in a tea cup. The company have know of our concerns on this from various people on this BB emailing in and have had no replies. This either means that it completely inaccurate or maybe completely accurate but running around like wild chickens desperately trying to sort it out but that would need to be RNSd i would have thought. So as we have heard absolutely nothing i am hoping with each passing day it was a storm in a tea cup, but still needs to be watched ,my experience, is that these little things can blow into something big unless monitored. I would suggest, if they have not already done so, get a Mongolian PR company on board. GLA just waiting news but could with something soon.

I am not sure what all that means

The long and the short of this, is this is not what we wanted going into a bank holiday weekend. I seriously hope MB is going to spend Monday talking to lawyers in Mongolia plus his other directors.
By the looks of this the nub is the courts have effectively told Petro Matad that either everything they have done since 2020 or before 2020, i am not entirely clear which, was completely illegal. By sounds of it not just parts of it were illegal but the whole thing was. This does re-enforce the opinion of some on here that MB is not up to the job.
I can imagine what has happened was he could not travel to Mongolia during all the Covid restrictions and left it to the lawyers and a couple of local directors to sort out. When lock down was over it was rather convenient solution so he stayed put and left it to the others and either they are incompetent or have been fobbing MB off with a load of rubbish. But at the end of the day the buck stops with the CEO and i would strongly suggests MB clarifies everything on Tuesday morning.
I just hope to god that i am completely misreading this and it is all easily resolved. But someone has forgotten the importance of Environmental issues in our modern world. Even Mongolia are aware of it. Maybe because Petro china can get away with it we just assumed it was unimportant.

Would you know if this applies to the exploitation license or the exploration license.

I am sorry but what has been revoked. Our permit or what with all the de rampers on here one starts to get paranoid.

Thanks for trying to help and all your input on here.

YEs maybe but would not these results have been through the pandemic when many places were locked down etc. I have a feeling it just maybe the management getting it right although i am sure that Covid itself may have contributed.

Let me understand this because i am starting to get confused on an issue that is already confusing enough.
We have a meeting on Friday that we believe is about drilling on this part of land. A kind of local environmental lobby if you like.
Is this site where we are exploiting oil as i understand it we have the license to exploit for oil or is this a nicety to keep the locals happy.
If this is the site for exploiting oil then it has nothing to do with our exploratory drill i assume. Is the Friday meeting a little hiccup along the way or a major gastric problem we need to sort out. We seem to be getting very little on the ground information ie nothing from the company and it is being left to a few people on this site to help us all best as possible and is their a danger we are either underestimating this or we are over exagerating it. Can anyone help clariy this. Probably a silly question as i know there are a number on here who would like to muddy the waters even further but it is a genuine question and a genuine concern i should imagine.

I accept it is a competitive environment but i think there are still standards that we should aim to achieve not have the bar set by what others may have done before us. It is like having the builders in when they leave you want everything left nice and tidy and free of dirt and not left looking like a mini bomb site.