Member Info for Manro

First of all please don't tell me what to do. And secondly this is not about money only. The problem I have got and suppose many other LTH it is that we have suddenly founded ourself not in oil field but cesspool from where we can't get out without heavy losses. Not saying how many great investments opportunities have being lost. And all this happened just because of Mike's gilt and his constant lies about what kind of tremendous support the company enjoys from the government. If this were so, then he should have come to an agreement with the government and get EL long ago. But he couldn't even complete Heron drilling which was blocked by the police because of absence an agreement with the local administration. Or you have already forgotten about all this? So it's time to stop being stupid and not only face the truth but even be ready to act if this farce and deception continues further.

Don't worry it will be the same old crap till the next rubbish announcement. This is how this management has worked before and specially now. When they are sitting in different countries without any knowledge who and what have to do.

Thank for your info and sharing it, Jimi. Instead of teach someone how to regulate the oil business today's Russians must stop plundering their own country and people. And if the Mongols not intelligence enough to learn from the Chinese but prefer Russians, then I would not be surprised at all that in terms of the degree of corruption they will soon become very similar to the Russians. In what kind of cesspool in this case Mongolia can turn into, only God knows. Because even a well known Russian proverb says: Show me who your friend is and I will tell you who you are. The only hope now that Matad could start to cooperate with some Chinese partner and to some extent, avoid arbitrariness of corrupt Mongolian officials, who are clearly under the influence of Russian thieves that have flooded all their country's power structures.

The next RNS will be about the postponement of company's activity. Oops... I just forget that without any announcements and even lockdown Matad already was quietly switched to an inactive mode. Welcome to the new era of doing great businesses!

I agree with you Simon. But I am writing not for him only but for some other people too who do not understand that whatever the government is in Mongolia it is of secondary importance. The most important thing is who and how skilfully can negotiate with any government. And such ability to negotiated and get the result, as I am sure, that Mike is clearly lacking. In my opinion, he is a bad businessman and that is what making him useless as CEO too. Otherwise, company wouldn't been in such a miserable state in a whole year. To be honest I am even in doubts now that he is a good geophysics. Being such, he never could sit in his chair but should roam like a beast in search of oil. And the biggest one which he chatted incessantly about, but did not even inches come closer to such goal.

CS, you are absolutely wrong. The first and most important person who is responsible for such an absurd situation is the CEO and not someone else. Or you are making investments relaying on country's government and not the management and CEO of the companies? Except, who was endlessly talking about the great and ongoing support to the company by Mongolian government? Was it you, or someone else and not Mike? So please stop writing nonsense and wasting your and our time.

Siting in Singapore, exploring an oil in Mongolia and make a fortune without doing any businesses during the whole year except empty talks and now virtual meeting. Well done Mike! Lets hope that one day your are going to use your such a great ability and creat a small part such fortune to us too. And not only enjoy the life with your BOD at our expenses.

Many thanks, Hallowed.
It's great and very inspiring to know that you are far from being alone. And there are many splendid people having the same or even better understanding what is going on and what to do. My deepest respect to you too, Sir.

Its just unbelievable how many people around the globe are brainwashed by criminal elites. People must wake up, otherwise, as Robert Kennedy said recently in Berlin: "Elites invented the pandemic to drive us into fear and slavery!" This will definitely happen if humanity does not stop and condemn them by an international tribunal, as was done with the Nazis.
By the way a group of brave and very determined lawyers, including Dr. Reiner Fuellmich have already started such investigation and what we need to do is to stand behind this group and support as much as we can. Not saying about sharing this link with such a great news with others. https://www.youtube.com/watch?v=7PHWmUqszsI

Simon it isn't just frustration. It is spitting on the company's management and a complete disregard for all investors' interests. Can you imagine what financial damage has already been caused to the company and what is the lost profit? It is the first time I learn that company can spend huge financial resources and discover solid oil reserves but instead of getting richer on the contrary slipped into the ass and incur colossal losses. Such a humiliating situation can only be tolerated by someone who is devoid of an elementary sense of self-respect and is ready to sit in his warm armchair at any cost. Instead of showing a real entrepreneurial spirit and by all means protecting interests of all investors, including the interests of the main investor Petrovis. Yes, it is not Petrovis who should do this, namely Mike and all his useless BOD who are not businessmen in any means but some incomprehensible small people who happened to be at the helm of the company.

Good comment, harvey5416. But as you can see there are few people only here who have a brine to understand it.

That is a very good comparison Rokky, completely agree. I am myself sometimes surprised why I waste time here on such idiots. We need to stop and not to do it anymore.

Wow, what a comparison! And what a profound phrase "crazy ravings"!
Yes, Khan you have such a brilliant intellect that you do not need to write comments here, but become an adviser to the Prime Minister of Mongolia. You would then, in the blink of an eye, solve all the problems not only of the company, but even of the entire country.

RokkyRo, ignore the buzzing of persistence insects. Or just slam by filter, as I did, and that's it.

From the very beginning of Mike's arrival I am not seeing any support from Mongolian government. But the talks about such support is constant and enormous. And I don't know why. Perhaps, because if the lie is frequent and constant people starting to believe in it.

shadow525,
A year ago, I thought exactly the same as you do now. But, to lose a whole year due to some bureaucratic reorganization it is out of any common sense. Especially when you consider how often and from all angles Mike shouted that Mongolia could become a new Kuwait or Bahrain. And most importantly, the government is vitally interested in the early discovery of country's gigantic reserves and in every possible way supports the company. If this were so, and not Mike's idle chatter, then he should have, together with Petrovis, ensured that the government would make an exception for the PM and issue a license without delay. But not to doom the company to an annual inactivity with the huge money losses for investors and lost profits for the company. There is a good saying: the frog will dry up until it rains. Likewise, we are losing our money every day despite of being sure that have invested in a seemingly very promising company. But it looks like now as almost the same fraudulent company, which it was under the previous crook CEO with his Bergen deal.

This is the whole point of their f....g job to sit at round or square tables and chat, and chat, and chat endlessly till the time they get a bribe. And as soon as they receive it, they will decide everything almost instantly.

Genghis Khan was a destroyer and his descendants, as is clearly seen in case of PM, remain the same destroyers. And for the same reason they are friends with the mafia regime in Russia, and not with China. And only fear of China is holding them back from behaving as destroyers and act in a civilised manner. In these conditions, Mike was needed to start cooperation as soon as possible and come to agreements with Petro China, and not sit on his ass and wait stupidly when the "noble and tremendously supportive to Matad Mongolian government" in a solemn atmosphere and on a golden platter would give them Exploitation License. From the RNS itself, and from the fact its coming out with such a delay, it can be clearly seen that Mike was full of hope to get LE till the end of September. He clearly not guided in what is happening and will continue to sit and patiently wait for EL. And this will inevitably only worsen the financial position of the company with the inevitable SP fall and than placing at the significant discount.

HullFC4ever,
That is the problem with this company and its CEO's. The previous one was a swindler. And Mike seemingly highly qualified oil-geologist turned out to be a good advertiser or salesperson of the company. He was extremely bullish and optimistic from the very beginning and in all of public appearances. But, today he sits, as if he took water in his mouth and cannot even tell what the measures exactly he is as CEO taking to bring the company out of the paralysed state, which for he is personally responsible first of all.

They don't care less do you have money or not. They need them today and just now!