Member Info for Jarv55

Renewable Energy Projects

SunSteppe Renewable Energy (SRE)'s project to provide green hydrogen to Mongolia's major Oyu Tolgoi copper and gold mine is progressing. Wood Group is undertaking the detailed technical and commercial evaluation which is scheduled to be completed in Q3 2024 and multilateral and commercial banks are showing interest in this project. Meanwhile, on the Choir 50MW Battery Energy Storage System project, environmental studies have begun as part of the preparations to submit the application for the licence to construct.

A third project involving renewable electricity export from Mongolia to China is under discussion following the signing of an exclusive cooperation agreement with a major, state-owned Chinese utility. The agreement envisages a 1.5GW project.

SRE continues to pursue a number of other initiatives.

Mike Buck, CEO of Petro Matad, said:

"We are delighted to have finally secured land access on Block XX and are looking forward to getting back on to the Heron 1 site and completing the well for production. The special purpose certification process remains a frustration but at least now we can work in parallel.

SRE is making good progress on its two high-graded projects and the power export initiative offers exciting potential. It is very pleasing to see that numerous new opportunities are being generated by the team."

Further operational updates will be provided in due course.

How much is Heron worth?

Certification of Block XX as State Special Purpose Land

This process is moving slowly and the central government's focus on the parliamentary elections is a further hinderance. MRPAM has written to the Provincial authorities instructing them to revise the coordinates of their overlapping area which impinges on the Block XX Exploitation Area. Meanwhile, the Ministry for Economic Development has advised that its preparation for a submission to Cabinet to attempt to remove the obstacles to completing the certification process is progressing. The Company does not expect substantive progress until after the June elections but will continue to push for progress before the elections. With the District level approvals in hand, work can now be done, but special purpose certification represents the long-term solution and is still required to mitigate any delays to operational activities that may arise in future years.

Key Company Updates

· The Company has received the remaining approvals necessary from Matad District to allow the 2024 operational programme to commence. Land use certificates have been issued for the three areas of operation selected by the Company.

· Discussions on timing of mobilisation to re-enter and complete the Heron 1 well for production are ongoing with service provider DQE.

· Petro Matad continues to push the central government to complete the certification process and confirm Block XX as State Special Purpose land to streamline the permitting process in future years. MRPAM has written to the Provincial authorities telling them to revise the coordinates of the area which overlaps with Petro Matad's Exploitation Licence.

· The Company's renewable energy joint venture is progressing its two high-graded projects and has a number of new opportunities including a potential export to China initiative.

Operational Update

Block XX land access and Heron 1 completion

Following the approval of land access from the Matad Citizens' Representatives Committee in late February, the Company has now secured the Matad Governor's follow up resolution and the land use agreement for the three areas chosen for operations in 2024. The land access granted is valid for five years, and this local level approval allows work to go ahead whilst the central government's process to certify the Block XX Exploitation Area as State Special Purpose Land is completed.

As part of the local level approval, with the support of the Land Agency and industry regulator the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), Petro Matad paid compensation to the herders whose registered pastures will be impacted by the Block XX Exploitation Area.

With the local land use approval in place, Petro Matad is in discussion with service provider DQE to agree the timing of mobilisation of the completion crew to Heron 1. If possible, it is hoped to have the crew at site before Mongolia's parliamentary elections on 28th June, although campaigning tends to have a disruptive influence on logistics in the country. If not possible before, mobilisation shortly after the election will be targeted.

Discussions with PetroChina on oil processing, export and sale are waiting on feedback promised at a constructive meeting held in early May. Even if the oil offtake is not finalised, Petro Matad will prioritise getting the Heron 1 well ready to produce as soon as possible since we are aware that DQE expects to be busy with PetroChina and other operators from early Q3 2024.

Close your shorts this is going back to double figures in the next few months

Well done to the longs

If its in the public domain on Facebook and anyone can find it he is not liable for inside info. The poster on Facebook maybe though.

Don't think so it takes 2 years to make.

Meadow some people are never happy lol

Meadow you say its peanuts it the same amount that ex directors put in.

Nice to see the new directors starting to buy.

Mitchman take it you did average down then if its now 0.045 #

A previous post from you

Well with one arrest imminent watch what comes with this, financial / telecom analysis will catch a few.

Yet again look at January WL announcement when price was at a year level 0.08. Many questioned the drop that followed. So news was either due or not. The fact no news came and the drop happened before today's news clearly indicates insider trading. Detractors last 2 days is exactly same pattern, they were triggered to do it or Tom was that is. The criminals behind this are nuts using Tom.

SYME going to IM 40 Italian clients days before a suspension to side track the fact there was never any IM. Massive massive misleading statements to support the SP while a party sold down or shorted. DW left in comes bull and some parties have insider information. What the fucx is going on. No PR at all yet we need funding. AZ quiet in all big drops of course he didn't know what's happening yet he still tries to bring in buys "LTHs will be rewarded", every year this is repeated. TAG know who the 5.8b shares went too, must be connected to these waxxxxxxx. 90% pi knew no WL would happen and it would be dragged down until the charge in July. We have be robbed with our pants down.

I'm coming to AGM and I will likely lose the plot. Never been in a share like this, daylight robbery. I need .55 to break even never happening. All AZ bs re unicorn promise

I think the name change is just what the company needed a new broom sweeps clean, out with the old in with the new. A new focus on assets in Asia where there is a lot of demand. A new strategy for Pr which shareholders have been crying out for. Boil has always been known as a pump and dump diluting stock this new name represents change in all directions.

I can't go to the Agm as too far for me but if I did it would be Albert I would be grilling not Az.

Glad they are changing the name interesting they are looking at other assets, could be Indonesia, reasonable cash position, slight delay in drilling schedule to Q1 not much changed.

Filthy interesitng post that remember this https://x.com/bigguyad/status/1693254319816978602

Jemini what is your average?

Are you going to the Agm Mickey?

He will need to get that loan to DW extended, some long termers are throwing in the towel here after wating so long and finally having enough, are they selling at the bottom time will tell, but don't think any length can have any faith in Az any more maybe he should step down.

Totally agree Fiisch. At the moment all we have is Mou's and pilot schemes.