What about to create a letter collectively sign by Investors and send it to the UK government asking to intervene and clarify how long this investigation can go on and when it could be stoped? Or it may continue endlessly harming not PFC and bankrupting its investors? Could this somehow expedite the completion of this investigation? Just asking.
Hi, Spainish glad to hear from you and thanks for the advice. Yes, we should do just that. But sheeps still remain sheeps which don't understand that they are not our goal. But their shepherds, who are playing the pipes and leading them to the slaughterhouse. And we are trying through our posts to influence these shepherds not to cut in the spring. But to feed and breed till the slaughter in late autumn. :-))
Take care yourself my friend and your loved ones in this difficult and strange time. Lets hope that by the end of the year the shepherds will be able to get at least a license.
CS, if you want to argue with me then you have to read my posts much more carefully. Yes, I called and will call barking dogs all of them who invested in company but constantly spread negativity here without any meaningful reason. What is concerning to my position it is not about the negativity but being objective and if needed critically evaluate what is happening to the company in order to help and not to gloat.
Even today I am sure that there is big oil in Mongolia. And my confidence based not only on those multi-billion barrels of oil that are constantly mentioned in all booklets or presentations of the company (which for some reason you suddenly forgot). It is coming from POV some highly qualified Russian oilers whom I know personally. And, who also sure that such oil can be found by those only who are constantly and tirelessly looking for it and not sitting comfortably in offices parasitising on investor's money and rewarding themselves with various bonuses. Is my position clear to you now or not?
Simon, l recall with what inspiration it was announced that an oil geologist of such a big caliber as Mike Buck is appointed of the CEO of PM. And that in Mongolia, which is probably the last frontier where huge volumes of oil are stored, these reservoirs will be found if not today then tomorrow. And its looked real and Mike himself seemed so confident in his statements that I personally also was sure that this was about to happen. In fact, unfortunately, Mike proved to be not so much outstanding oil and gas geologist as a very good PR man. And instead of really looking for oil, wandering around of the most promising licensed areas of the company, he probably did not even go beyond the borders of his Mongolian office. Except for flights and presentations in London. That is why PM and its investors are in even a worse position now than with the former CEO-crook. And the most important thing that I did't ever expect is that Mike will not be able to quickly resolve the issue of the license and will lose entire drilling season. And this is in situation when he always and everywhere told about the exclusive support of the company by the Mongolian government.
"If the Mongolian authorities were so supportive why is it taking so long?"
Because real support should be provided for a long time, and not for short period only. Lol
A shameful situation really. All the time to repeat about serious support from the government, while everything is moving at a snail's pace, and the company is losing precious time. I hope that Mike understands how ridiculous all his claims of support look like and will do his best to get out of this shame asap.
Any self-respecting CEO who, even within one year, does not achieve his goals and does not start a lawsuit in order to prove and defend his position must understand that he cannot cope with his duties and resign. If he were a truly principled leader, then five years ago he would have started to defend the company's right to exploitation licenses. And if he did it, as I personally advised him, then he and you, as investors, would now been in a completely different state, and would not look, as I correctly noted by Mickeytentoes as some kind of insane people, expecting something unexpectable for years. And who most likely will never get it without court order. But today even such court oder is becoming less likely that it could been even couple of years ago.
Patience is virtue, but not so long, mate.
Many thanks for your kind comment, mate. I know you are one of the most devoted LTH here with very balanced and truthful POV. And I am wishing you as well as to many other fellow LTH the best of success in your strategies. I am still amongst you and believe that Matad can and will be transformed into one of the most successful company in the world. But for to achieve that Mike and his team have to do much more in terms of discovery. That is the way in my opinion towards outstanding result and great achievement and I hope Mike understands this and will follow exactly this path.
CS: my problem was a very good knowledge of some highly regarded professionals who have made great oil discoveries in Soviet era. I am even in friendship with one of them who told me that there is an oil in Mongolian Gobi. And probably one of the biggest oil reservoirs in the world which have to be discovered yet. But it can be done by true oilman who can travel a lot there and catch it by his every feelings, brain cells and intuition. This is why when Mike appeared on the horizon I thought that perhaps this is a man who are going to be such a discoverer ... And it could happen but didn't unfortunately. Possibly in future.
Ojay: my losses in terms of money not too big but in terms of wasted time very significant and that is which very hard to recognise sometimes and get out ontime.
Totally agree. I was never disappointed as much as I am now in Matad and specially in Mike. From one side meeting or listening his interview you can conclude that this is the man who in his exact post and whom you can trust entirely. But from an other when you are looking what exactly he is achieved compare with all his talks you can see more failure than achievement. This is why PM today in such a miserable state. And what is look very strange to me how powerless is he about the licence. Especially taking in account his endless talks about the great supportiveness of Mongolian government. So much talks about it and now is March with no license and even no explanation what is going on and why he is talking now about undefined months. As if he is operating in Africa and not in severe whether conditions with very limited drilling time. And leaving us without any clue whether or not he will drill Heron this year or not. Very very disappointed and disrespectful attitude towards LTH and this is why I decided significantly reduce my holdings here and just keep an eye what is going to happen next.
Agree with you CS. I will not be surprised if in current situation such a decision will be delayed even further for undefined time. Or we can avoid any placement which can sink SP even below 1p. As it happened with many other AIM listed oil companies.