Member Info for ManxKippers

Thanks Master.

I take heed from your scholarly sense of calm and logic.

I still hope all will sort itself soon.

I rest my case!

I agree. But this is wild west country and they are trying to pass new laws and make the procedure system work from scratch.

We have seen the MMHI start to issue the SLP. Having done the work, just before signing off, they decided the ministry for development needed to do it. Now they have rising vocal dorno minister objections on Facebook. And a long summer recess looming (sorry vikinglass, I missed that piece last week!).

All of this has a whiff of the never ending story.. ! No one is going to invest in Mongolia until they have this properly sorted. So they need to get a move on and get a grip on this.

Their intention is clear. Their ability is shown to be worryingly lacking.

Yes we can. You just asked what had changed since Friday. This, I believe, is the answer.

It is starting to look unlikely that the SLP will be given for months, not weeks. And even then, there is an aggressive facebook against what the government are proposing re the new legislation. So it may be blocked.

I hope not to all points, and it comes soon. Because delayed could become severely delayed.

That's all.

Dorno minister... predictive text, sorry!

And 100 million shares for share options is way too much!

Specifically two things have happened.

1. They are shutting the parliament of Mongolia for the summer recess in a weeks time.

2. A drone minister has posted on facebook about the unfair nature of issuing much longer licenses for business than the ownership os permitted to mongolian people and stating it as corporate theft. These two points could hold things up big time Vikinglass.

Yes. Real risks popping to the surface now with a better understanding of the true possibilities of delays. This may also explain the release of the share options to PM staff of 10% more shares of the total shares in circulation (too many shares!!) a month ago, to try to keep them from leaving perhaps?? Perhaps they are all seeing the never ending story here...!!

Thank you WOS. Good work. Appreciated.

Drilling should be around 900 metres on Velociraptor. If oil is to be struck, it should be anytime from today or within the next 10 days, assuming that due to the untapped oil resources in Mongolia that the wells will be shallow wells of between 3,000 and 5,000 feet. That is 900 to 1,500 metres.

Clearly PM expects these to be shallow wells due to the drilling going to 1,500 mtrs only.

Any time now........!

Let's hope so...!

Assuming Matd will get the LP soon, a higher oil price for crude would be very welcome indeed!

But if Russia under a new regime wishes to enter the world, they will need to pay for the rebuilding of Ukraine. This could be done in part by the west demanding supply of discounted Russian commodities and paying the money, or a large part of those monies, to Ukraine as a form of getting their hands on the money for reparations for the unlawful invasion and destruction of Ukraine.

We will see, but I can see the commodities sector being skewed for a while going forward.

The EU had a conference 2 weeks ago for "the day after" with Russia in regards to Ukraine.

Now we have a huge development in Russia with strong words and anger in the eyes of Putin. The military seem to be standing by and letting Wagners move freely in Russia. Wagner are only 1 days march from Moscow!!! Roscov and all of the huge military base and munitions are under Wagners total control.

If the uprising does result in a full regime change in Moscow, then the EU will want to align itself and work with the new power base as early as possible. This will probably mean strong contracts for oil and gas and without sanctions, oil prices could fall fast.

This could affect the ultimate value of our investments here.

Watch out for this.

Equally the world could give a huge sigh of relief and turn the taps on for development and growth which may keep the prices up.

A very uncertain time with volatility in the commodity markets including the oil price lies ahead of us.

Quite possibly, BP.

But too many snippets and half declarations leaves us all a little unsettled and with unnecessary seeds of doubt and questions. It just leaves a sense of being shifty and mistrust.

Put MB in the chair and under the spot light and get the full story out of the man!

Nothing new here really, but what a terrible news release! You wonder why? Very clumsy.

No mention of the Petro Matad Energy Ltd on the IOM, that we suspect is to ooerate the renewable energy partnership more autonomously.

A statement of $5 million finished balance for the year, with an operational cost for the year of $2.9 million. This is supported by the raise in February of a further $6 million making the company cash in bank position now around $10 million. This is quite good.

No mention of the new tenders, how many new blocks we have gone for and how this is looking.

Encouraging numbers re recoverable oil for Velociraptor of potential 200 million barrels and surrounding of 375 million barrels, which when added to the 60 million barrels recoverable of Heron would mean a potential of 630 million recoverable of we held a royal flush! That would mean a net revenue potential of about $40 billion in the assets if all achieved, regardless of renewables and other prospects.

A lot of Ifs, buts and Maybe's here.

The press release is not clever or fully transparent, leaving questions unanswered about pieces of information we know about.

We could do with the LSE interviewing MB again and with us all putting our questions to him via this platform to get a proper complete and whole picture of this rapidly moving period of history for the company.

Well Badprophet, the contract was signed in 2015, the construction of the oil refinery started in 2019. It is to be finished by 2025, and they started building the pipe line to it last month.

If it is not more than half built, then my kipper is a mere red herring!

The current turbulence in SP is in part triggered by the share news published yesterday by Holly Beveridge of Alliance News.

Her terms used in regards to the process for the LP for Heron, suggests an up hill struggle with the Ministry for development and infrastructure being met with heavy objections from locals. I am not sure how strong this actually is, but this does not surprise me.

I take heart that the LP papers have been distributed to all other government departments again, and will be presented to the government cabinet meeting soon or even at the next meeting.

Therefore, assuming all things are equal, with the resolve of the government remaining the same and to prioritise oil production, along with their own need to have their proposed pipe line given an LP to pump oil to the new refinery that is over half built already, then there is no change to the likelihood of the LP being granted for Heron in due course.

Therefore, I remain bullish and confident the LP will be forthcoming for Heron and I am not worried by the possible suggestion that there may be an issue for the LP to be issued at all.

A very correct post, thank you investor33.

I am also a long term investor. My hunch is that the turbulent water will calm and we will be able to see how deep this well is quite soon!

The next 10 tob15 days of trading will be frothy, but hopefully by the end of June we will know what we have, or do not have with much better clarity.

We will certainly see RNS reports, let's hope they come in on the up side as we have speculated they will.

Tomorrow, tomorrow, we'll get it tomorrow.

It's only a day away..........

This shows what a mess they are in in MG, still making retrospective laws and implementing them on a construction sector that has been out of control.

The very best we can hope for according to these notes is that the a Special License Permit is issued for the pipeline and that they will resolve the PM needs next time, once they have their own LP in place.

Still a little frustrating as it seems to be them before us, but at least it is moving in the right direction.

The other key point is the financier.

Once you have contract that assure you of income, you can borrow money.

I do hope the expansion of the company generally can be done with finance and not share issues thereby avoiding share holder dilution.

That is as I see it Ibiza 28.

Safe for now. Good for a chunky profit. Good for 3 to 5 years most likely.

But not a long term keeper for dividends, like Shell or Unilever etc.

Keep an eye on the bigger picture, but a hugely exciting investment right now.