Member Info for Jimithebrush

Sorry but I don't see any reference to petromatad maybe petrochina, yes they mention a meeting in the Matad soum and someone wanting a job in the petroleum industry but is worried about the water in the wells disappearing. I would gladly take it on the chin if proven wrong tho. GLA

All I can say is be prepared if that is the case. I see it as a win win, bad news, price goes down buy more because it won't languish at this level for ever, eventually the oil will come out, good news, price goes up happy days ;-)) GLA

Some how I don't think that'll be a problem now.

48 trading days till the end of the quarter, one bank holiday got moved from May to June for queen's celebration but no matter I'm sure news will be put out either way. GLA

At the meeting of the Government of Mongolia on January 6, 2020, it was decided to transport the raw materials of the refinery through a pipeline.

The Ministry of Mines and Mineral Resources has announced an international tender to “finance and construct an oil pipeline project in Mongolia” and the state-owned Norinko International Cooperation of China has won the tender.

Today, G.Nandinjargal, State Secretary of the Ministry of Mines and Mineral Resources, D.Altantsetseg, Executive Director of the Mongolian Oil Refinery State Joint Stock Company, and B.Sc. Gankhuyag and General Manager Zhou Dian Bin on behalf of Norinko International Cooperation, a general contractor for construction work in China.

With the entry into force of the agreement, crude oil will be transported from the Dornod aimag oil field through a 530 km long pipeline with a lift and heat pump, which will provide a continuous and reliable supply of raw materials to the refinery under construction in Altanshiree soum, Dornogovi aimag.

Norinko International Cooperation will complete the construction of the crude oil pipeline within three years, before the plant is commissioned, and will pay for the work with coal mined by Erdenes Tavan Tolgoi during the construction of the project.

The design, engineering and construction will be managed by the Mongolian Oil Refinery State Joint Stock Company and will be monitored. GLA



Source: Ministry of Mines

If I didn't find you so amusing aspers I'd have filtered you ages ago but I suppose some of you have to put the negative spin on things, you know to keep the balance right but good luck with your investment here as I'm sure all will come good despite all the setbacks and delays, Rome wasn't built in a day. GLA

Sorry I was referring to the border of block, should have stated in my last post. But I'm sure if I remember correctly that's why they had to drill Heron 1 km away as not to encroach on there operations so because of that perhaps being Chinese owed they are dancing to there own tune. GLA

Maybe because it over the border perhaps and don't need the permission from Local Mongolian authorities and communities?? GLA

I think the last paragraph is particularly interesting reading....This year, our country has decided to update the tender procedure for issuing mineral licenses and to make all the processes electronic. Thus, a classroom training on electronic licensing system (April 15, 2022) was organized for companies in the sector. For the first time, the training was conducted in a classroom. In the future, the National Geological Survey will conduct the training online among companies, and in the near future, the tender site will be announced in a unified manner.

This year, the National Geological Survey and the Mineral Resources and Petroleum Authority have prepared a tender to differentiate a total of 3.1 million hectares based on mineralization and prospects. These sites will be announced at once and up to 400 licenses are expected to be issued. Bids will be submitted electronically ( through tender.gov.mn) to the companies participating in the tender at each site within 30 days). However, companies are proposing to extend the period to 30 days. Three evaluation commissions will be set up after the companies submit their bids electronically. The evaluation commission shall make its conclusion based on the technical and price proposals submitted by the companies. The industry agency explained that the new rules focus on quotations to prevent discrimination and vested interests. However, some business representatives are disappointed.

Despite the government's hasty efforts to intensify the stagnant exploration sector and attract investment, there are fears and doubts among companies that they will face opposition from local governments and citizens. The Mineral Resources and Petroleum Authority will pay special attention to this issue. On the other hand, the revised Minerals Law and the draft Land Law provide for the settlement of disputes that often arise between local communities and companies. GLA

The Mongolian mining journal. GLA

Petromatad Limited (LON: MATD), which operates the Matad XX oil field, has announced plans to begin production in the middle of this year. The company announced in late 2019 that it had discovered potential reserves from the Heron borehole drilled in the area. The start of oil extraction from the white crane borehole will increase the company's cash flow and help raise funds for further exploration work. The extracted oil will be transported by truck to the PetroChina Daqing Tamsag plant in China for processing and then further to the southern neighbor. Two additional production wells are planned to be drilled to maximize production, and negotiations are underway with the Minerals and Petroleum Authority.

The company plans to explore the Matad XX and Ongi V fields for the next year and a half.

Petromatad raised $ 10.5 million in August last year, which is expected to be enough to start the first phase of production. Hopefully news soon. Happy Easter and GLA.

Over 10k a barrell whoops :-)) someone's typed it wrong on my Hargreaves app :-)) GLA

Could this mean finally Matd in the right place at the right time. Hopefully things are lining up nicely and news to drop anytime soon and let's hope it's the news we want to read. GLA

Maybe this is the calm before the storm perhaps:-)) GLA

If RNS lands on us Q2 Friday April 1st, wondering if MB has a sense of humour seeing as it's April fools day :+)) just a thought as the next bit of news I believe is going to be quite crucial. Getting the anticipation felling again. GLA

The 12th Mongolian Geology and Exploration 2022 Forum and Exhibition, initiated by the Mongolian Association of Industrial Geologists in 2009, will be held on May 4-5, 2022 at the Corporate Convention Center.

The conference will traditionally include the following activities: -
Main meetings and discussions
- Presentation of exploration and mining projects, business meeting of investors
- “Explorer” magazine
- Qualification training
- Selection of the best team (mapping, exploration)
- Best student scholarship
- Best photo exhibition - “Nature of Mongolia - Explorers' telescope ”
- Exhibition of the best samples -“ Mineral collection and samples ”
- Presentations and exhibitions of organizations. GLA

The Deputy Prime Minister of Mongolia S.Amarsaikhan met with the Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia MPSingh and representatives of JMC Projects India, the General Contractor of the Petroleum Refinery Project. exchanged.

JMC Projects India would like to express its gratitude for the urgent need to resolve the issue of essential goods stuck at the Chinese border during the implementation of the project. is required. He also said that the project will be completed without delay, despite the difficulties caused by factors such as transportation and logistics and rising prices.

Deputy Prime Minister S.Amarsaikhan said, “As you know, international transportation is slowing down due to the global situation. The government is focusing on freight transportation by all possible means. Currently, we are importing goods not only through Zamyn-Uud, but also through Gashuunsukhait. ”

However, they agreed on the next phase of the project and stressed the importance of resolving the issue as soon as possible, starting work quickly and completing it on time, according to the Government's Media and Public Relations Department.
GLA

Something light to read perhaps? https://simplywall.st/stocks/de/energy/fra-ha3/petro-matad-shares/news/petro-matad-limited-fraha3-is-expected-to-breakeven-in-the-n GLA

The moratorium still stands, so not all bad, the mornings opening will be interesting, hopefully we don't get to much of a news blackout. GLA

I hope Velociraptor isn't going to be put off till next year :-((