Member Info for Jimithebrush

https://montsame.mn/en/read/240267

https://www-bloomberg-com.cdn.ampproject.org/v/s/www.bloomberg.com/amp/news/articles/2020-10-16/gupta-s-liberty-said-to-plan-offer-for-thyssenkrupp-steel-unit?amp_js_v=a6&_gsa=1&usqp=mq331AQFKAGwASA%3D#skip-to-main-content

https://montsame.mn/en/read/239805

https://uk-mobile-reuters-com.cdn.ampproject.org/v/s/uk.mobile.reuters.com/article/amp/idUKKBN26Z25T?amp_js_v=a6&_gsa=1&usqp=mq331AQFKAGwASA%3D#aoh=16027823632517&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s

Your point is oilf?

https://youtu.be/vwg5tW00E6A also this too :-)) GLA

https://youtu.be/oL9rbvLAjn4 bored at work Mr P, hope this helps with the query on reserve's. GLA

https://www.statista.com/statistics/232517/crude-oil-production-volume-of-petrochina/

If Heron is to produce 5 to 10k a day then they would need somewhere in the region of 30+ wells at say 300bd so let's say by 2024 when the refinery is complete and ready to rock and roll then realistically I think it could be possible, first things first get EL in hand and it's game on. GLA

Just a thought, perhaps figuratively speaking maybe PM would contribute to the 5 to 10000 barrels a day needed for the 30000 a day for the refinery's full capacity. GLA

https://advances.sciencemag.org/content/6/41/eabb6570

Something has been niggling away at me after listening to the interview a couple of times, the land that they are planning to retain 5mins and 10 seconds into the interview, they have submitted there side of the application and agreed but are still waiting for the local people to mutually agree but shouldn't forsee any problems. Maybe just me reading to much into it as usual. Have listen see what you think?? I'm not totally convinced the land issue is finally concluded. GLA

The social responsibility agreement is starting to pay off
2020/07/06


Articles 11, 2, and 17 of the Petroleum Law stipulate that a mining license holder must enter into an agreement with the soum or district governor where the license area is located, which provides for the protection of the environment and voluntary support for local development. However, Petro China Daqing Tamsag has not yet signed a contract with Matad and Khalkhgol ??soums of Dornod aimag, where Petroleum 19 and 21 are located, and has not made a significant contribution to the development of these soums. Therefore, since 2018, we have been working with the current authorities of Matad soum, the people and civil society organizations to implement Articles 11, 2 and 17 of the Petroleum Law. Earlier this year, the issue was raised to a high level and the parties agreed to implement the provisions of the law on the basis of civil protests. The agreement stipulates that the 2018 and 2019 agreements will be reimbursed for 500 million MNT in investment work, and $ 450,000 will be provided annually from 2020, of which 400,000 will be provided in the form of investment and 50,000 in cash. Today, after many years of hard work, the agreement has been reached and the first tranche of $ 50,000 is in the Matad soum development fund.

This figure is surely within the realms of of possibility, may take a few year but all going well very probable, still early days but if we can get Heron 1, 2, 3, and 4 up and running why not a lot more wells to achieve that figure, let's not forget that we still have the Raptors to explore :-)) GLA

Mike Bucks own words from the interview. GLA

In a short interview with Mike Buck, the Petro Matad CEO, London South East had an opportunity to ask about the RNS which was released on Thursday, updating the market about progress with the Heron-1 Exploitation Licence.

In short, the Mongolian elections which were held in the second quarter saw a change of Government, with the same party winning the election but along with the win came a restructuring and some new faces. Not all the relevant sub-committees have been convened yet, and the Exploitation Licence has been caught up in those changes.

Mike was at pains to explain that although "unfortunately there have been a few bureaucratic delays. the committee which needs to review our submission next is being reconstituted. We had hoped it would be done by the end of September and we would have the Reserves Report approved, but that has not yet happened."

"However the good news is that all the feedback we are getting from the Ministry is that the committee will be constituted 'very soon', that our report is high on the agenda, and it is an urgent item for the committee to consider. All of the feedback we are getting is that we can expect an approval."

Mike went on to explain "We were fortunate and honoured to have a meeting with the new Minister shortly after he had taken up his post and he was very keen that we should progress quickly".

By way of background, the new Government have made the oil refinery project in Mongolia a key part of their Four Year Plan and want it up and running by 2024. With a 30,000 bopd capacity for feedstock and less than 20,000 bopd produced locally, Heron's 5-10,000 bopd is important.

"The Government want this field on stream, appraised, approved and ready to rock and roll as soon as possible", said Mike.

Mike went on to say that the Detailed Environmental Impact Assessment has been approved however, which is a very encouraging sign and a requirement for the Exploitation Licence to be granted. "As far as we are concerned its not a case of if but when".

Oh well, more patience required but still continue to hold. GLA

Master82 only thing I can think and come up with is the speak and translate translated app but it's only available on iPhone iPad and apple watch which I have none of maybe one of our kind share holders maybe able to help, I'm so curious now :-)) GLA

Only thing I can translate is the title which say important decisions 3 carnt translate the actual spoken words, maybe a RNS tomorrow morning best I can do will keep trying tho looks like we might have progress GLA

http://bcmongolia.org/en/news/monthly-meeting-recap/bcm-2019-october-monthly-meeting-recap.html