Member Info for Jimithebrush

1.6 Fees, expenses and product sharing

The Petroleum Law sets out the different fees for petroleum exploration and extraction. These include:

Exploration licence:

:

Licence fee

US$ 3 per square kilometre for initial term; and

US$ 8 per square kilometre for any extension period

Extraction licence:

US$ 100 per square kilometre for initial term; and

US$ 200 per square kilometre for any extension period

both fees payable annually;

fines if fees not paid on time

Oil and gas:

Royalty fee

5-15 percent of extracted crude oil and gas

Unconventional oil:

5-10 percent [of extracted unconventional oil]

the recovery cost will be the cost oil in the amount approved by the state audit and

agreed under the production sharing agreement;

Recovery cost and cost oil

.

the cost oil will be up to 40 per cent of the total oil after deducting the oil used to pay the royalty fee; and

the applicable amount of cost oil for unconventional oil will be determined by a specific regulation

Product Sharing

profit oil will be shared in accordance with the terms of the production sharing agreement

Buzz, we are not privy to the terms of PSA but all i know is the profit oil will be shared as in agreement with the PSA. GLA

WEALTH FUND https://mongolia.gov.mn/news/view/26957 = GLA

More like 5 years. GLA

Might add this https://www.mongolianminingjournal.com/a/73405

"Should get pre AGM operational update" "does the header say it all"? somehow I'm not so sure but certainly would be great for starter's. GLA

Mine = "will the board members take a reduction in pay until all permits and licenses are in hand so MATAD can be a producer and explorer"?.... Elections will only be 8 or so weeks after the AGM so I still believe nothing major until afterwards. Bonus if everything beforehand or another wasted year 🤔 GLA

If this keeps up Mick Buck won't have any mates like there won't soon be any share holders either. I've sent my carrier pigeon over to Mongolia with some ink for the pens, let's see if they're any quicker than the snail pace of things over their. GLA

Why buy at 4.5 when you'll be able to buy cheaper when they do this placing you keep harping on about 🤔 GLA

Maybe don't hold your breath as I anticipate significant news after the elections when MATAD won't be a pawn any longer. GLA

Https://m.akipress.com/news:766506:8,000_more_hectares_of_land_destroyed_by_fire_in_Mongolia_s_Dornod_province/

"Dare to dream" notpleb. GLA

Maybe the board carn't elaborate on anything because if everything revolves around the LP issue then perhaps there's nothing to inform the market? The DQE contract may have to wait a bit longer as well, I would have thought they could be using the equipment we need on other contract, that Im not sure about because I for one sure wouldn't want equipment on hold for however many years we've had to wait now? Elections are looming and an AGM at some point, This feels like there's going to be no progress until the elections are finished maybe the AGM after them too??🤔 GLA

Patshare I would add EML to that list been waiting a long time for things to tick along, its not too dissimilar to this share. GLA

June after the elections. GLA

Aeschylus, never mind can you dig it, we carn't even drill it 😡 GLA

No not looking to get involved, one Mongolian enterprise is enough for my palate, I was drawn to the last paragraph where it says about permits or contracts taking over a year and half and brought MATAD into perspective, just thought I'd share for anyone interested GLA

Seems the issuing of permits is a common thing in Mongolia

https://www.mongolianminingjournal.com/a/73390 GLA

Some people won't mind paying that bit extra if it means all permits and processes are in order as it means MATAD can concentrate on becoming a major player and explorer and producer in Mongolia which could entail JV partners. But to much uncertainty at the moment. GLA

6.37m shares doesn't seem like a lot of volume considering there are just over a billion 🤔 Maybe it could just be just an RNS announcing the AGM we live in hope. GLA