Member Info for Ibiza28

The negative part of me is concerned about a 3 month delay over accounts. I think there are questions over the going concern because there are too many variables outcome of final bills. Too many variables.

Probably right about clutching at straws.

If you are wondering i have been hiding under a stone hoping no one would notice. Obviously completely wrong about a RNS this morning although all the logic pointed in that direction. Maybe, just maybe, the EL was granted and the next stage is it going to minister for signature and that is what we are waiting on now. ATB GLA

I hope so really do.

No, no pressure just the expectation of everyone on a post lol. All the indicators would appear to point that way including MB statements that the procedure is a bit rigid but Mongolia have their processes and they want to go through them first before refining them. My guess is that we are the only subject for this discussion so i would have it tabled or 14.00 meeting on Friday afternoon. 10 minute discussion and then send question back to MB. AOB Mr. Chairman nothing then adjourn for a long weekend. As MB says probably could easily be sorted on a video conference call in about 30 minutes but that Mtad are a bit of guinea pig in the process and in future there will be too many of these to circumvent like that so process, process, process and and learn from it for the future. If we do this well and keep our nose clean then it could put whole company in good position to partner other people down the line looking to follow in our footsteps. GLA ATB here is hoping something positive.

Maybe after all the wait now might be a good time to drill after all. As the world emerges from lockdown the price of oil is rising fairly rapidly and at the the moment Brent over 71 let alone 70 and WTI is now over 68 and heading to 70. I can feel our estimated market cap heading north. All looking good as long as we get the EL.

I notice that oil has gone up sharply over the weekend. Brent now above 70 for first time in ages and WTI way above 67. Won;t continue but i think points to all matters positive.

I really hope my theory is right. It makes logical sense (to me at least) and it would be a major deflate if i am wrong and imo slightly worrying. This share is either the best kept secret in the oil industry or no one believes anything is going to happen in Mongolia. Being a generally positive person, until proved completely wrong, I think Mongolia are trying to break out from their Eastern neighbours, geo-politically, in China and Russia and try to stand on their own two feet. Otherwise why get India to help them build an oil refinery. They could have gone to China to build refinery and why build one if you are not going to use your own oil. I will say that there probably will be a lot provisos in such an EL that we will never know all the ins and outs of so personally i am in get what i need out of this and then i am out like a shot. That maybe well below the final figure but i want out on an up market if at all possible rather than a down one.

Just wondering do you think that part of the licensing agreement woudl have been any partnership/ JV / financing deals. Surely they would want assurance that we were capable of doing this drill without necessarily having to go to the market. In which i would have thought another RNS shortly after the licensing agreement would cover the financing route being taken. I think someone has pointed out that Petrovis are probably covering our backside on this one pro-tem at least. Personally i like the idea of a take over and saves trying work out the best out price. GLA

I would surprised if we got license news on tuesday but i would hopefully be happily surprised. I think most likely following Monday. And hopefully good.

My understanding is the EL will be issued probably next Friday, assuming there are no further questions that need resolving and then it has to go to a minister for signing and that by sounds of it is just an authorisation the issuance having already been made. The question is how long does it take to get in front of the right minister. The same day or sometime in the next fortnight.

Maybe i am mad but i feel this is about as low it will get so i have bought some more. Not many but a few. Hoping to turn them at a proift over the next week otherwise hang on. This is becoming a complete of binary option. EL or bust. I have got my money on EL. Just hope i am right.

I had 8.09 a little while ago and now at 7.92 someone is playing this share like a stradivarius.

I have tried several times to get a selling price on HL to see what price was on offer at the moment. Could not get any quote i must admit i thought this share would be very much in demand i would easily get a buyer did not stay on as i was not really wanting to sell just yet.

yes i take your point very exciting paint. Maybe i was just looking at wrong moments before the moment built up and i was hoping the momentum would have arrived earlier.

The Bid price on HL has moved .027p in just a couple of hours. Tried a dummy sale about 2 /3 hours ago and offered 7.33 now being offered 7.36. so it is starting to move but it is abit like watching paint dry.

News will probably be Monday June 7th and I reckon oil and gas licensing committee will be meet once a month. I First Friday my guess in the afternoon. I reckon we are only subject at moment then clear off for an early weekend.

I still believe that the oil and gas licensing committee for Mongolia sit once a month at the moment on a Friday afternoon around the first Friday of the month. So far we have had 7.00am RNS about this on Monday 12th April and Monday 10th May which would indicate given time to knock up and have approved an RNS over the weekend. ready for publication on that Monday this would mean in my book we should get one on Monday 7th June imo. So yes should be done before the expo where i would hope we could announce a JV or farm in would be really good.

My suspicion is that we have found our level for the next couple of weeks. On past history it looks as if the oil licensing committee meets either on late afternoon of the first Friday in the month or the the following Monday morning. My guess is the Friday afternoon givng Mike and his team to knock the appropriate RNS over the weekend. So for me next RNS will be around 7th June. Assuming good news i would guess that the price would double almost on opening to somewhere like 15p and then trade in a small range till the next RNS about a farm in partner etc when i would hope it will jump again and then as someone stated it will go up again on drilling and when we start to extract oil we will then hopefully shift significantly higher. I want to avoid words like strataspheric but i would hope price will be 6x current levels at time that drilling starts at least. would still be less than £350m m cap which does not seem unreasonable.

Thanks that is far more like it.