RE: What next for the SP ?1 Dec 2024 08:04
After the last RNS I got out. The contradictions and lack of clarity made me doubt that any concrete legal agreement was finalised.
Effectively MATD are delivering oil and putting it into someone Elise’s storage tanks without any formal agreement, that’s a huge RED a flag . Giving some on something before finalising the legal sis suicidal in my view. What negotiation power does MB have now.
From the RNS;
Regular transfer of oil to the TA-1 production facilities in Block XIX is ongoing. Meanwhile, all the commercial terms have now been agreed and the final wording of the Cooperation Agreement is being prepared to include details of exactly how the produced volumes will be offloaded, measured and confirmed by the relevant parties. Once agreed with the Block XIX operator the Cooperation Agreement will be presented to the industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) for their approval. The Company is pushing to expedite these final steps after which export paperwork will be prepared and sales of Block XX oil to the buyer in China will commence. In the meantime, large storage capacity is available in Block XIX so Block XX production can continue uninterrupted.