Member Info for OldsCool

Great find Jimi. The wheels are turning, the move up is coming. Finally some positive news. As I’ve said many time on here the refinery is being constructed to refine Mongolian oil and the need for MATD to supply this will be agreed hand in hand with the refinery becoming operational. Positive news all around . This needs to be reposted on Monday morning....!

5p would equal only 50% loss..... but as I’d written this share off a year ago, I am more than happy to see the new positivity here now.

I agree. You don’t get many millions of loans from India to build a refinery based upon corrupt government practices. The Mongolian government need a lot of oil going through their refinery and need technical skills to get this oil to the surface. You can’t do this on a DIY basis. Horse, Please get a real understanding where this company is going before spewing your thoughts out here.

A “mere formality” . If only that were true.... You always seem to have rose tinted bifocals on Mr P. It is not a formality. It has taken the best part of a year so far and there is no hard and fast indication that it is anywhere near to being issued. I agree we are getting closer and I hope like you do that it is imminent but we have a lot of hurdles still to clear . This is my favourite share and I believe it has potential for a major uplift. I have a good few shares here and believe it will go ballistic very soon but there is no way the El is a mere formality.

https://twitter.com/angusenergyplc/status/1347597430074847235?s=20

7 times more buys than sells and the price is down 4.5% , explain that ?

I have just phoned UKOG Head office. The CEO is still working for the company. But he is working from home. I asked to speak to the Marketing Department to see if they still had one and , yes they do. I asked what they were doing at the moment but couldn't get a sensible answer. When I asked to be put through to the CEO I was told he was unavailable but I can email him. So I am going to. info@ukogplc.com. I was told that he will reply to all emails.....I would suggest we all do the same and see what the f is going on . I expect nothing but feel we are just being turned over here with no recourse to anyone or any briefings ever being made. email address is on their website if it gets blanked on here.

Well , whilst this chat section is full of timewasting posts, I have jumped in and had a few more. Fingers crossed...

I’m in both of those UKOG a and ANGS too. Disaster on both . I’m hoping to get out of the sheet with this one too. Good luck .

Spread 18.52%......wtf is going on ...?

This is just my view. I agree the EL will be issued before the refinery is open to allow drilling and raw materials to be available for when the refinery is ready. Just my opinion. No science attached to it. I am a LONG term holder and am sorely tempted to by some more today but the large spread deters me currently.

Matad Directors voluntarily took a 50% pay cut whilst this got resolved. The EL is only going to be issued once the refinery is ready to receive oil, in my humble opinion. Why issue it now and see the oil being taken over the border to China ? The Government are deliberately slowing this down until they need the raw materials to stock their new shiny facility. If anyone needs pressure it is the contractor building this. Patience is required until then . No matter how much is written here nothing will change until then. That is all in my opinion only but if I had a new refinery coming on stream it is what I would do. Let’s see if I am correct...! Good luck all !

Great idea Manro. Why don't you just get a meeting geared up with the prime minister and sort it all out. Why did'nt Mike Buck think of that . Its obviously quite simple, a quick chat over tea, point out the error of his ways and job done. EL issued before dinner.

They have set up their web site and the committee responsibilities have been outlined:.....
“To ensure, monitor and support for the implementation of Production Sharing Contracts of petroleum development blocks in Mongolia in accordance with the State policy on Petroleum sector, Law on Petroleum and other applicable laws and regulations.

Functions:

To ensure the implementation of Law on Petroleum, standards, rules, regulations, guidance and other relevant laws and regulations, decision of the Government and State administrative central body.
To conduct inspection and monitoring of petroleum development and production operations, verify measurement, storage and transportation of Mongolian Government share oil.
To provide professional assessment for verification of investment and recovery costs for petroleum development and production operations.
To organize commencement of oilfield development.
To implement the policy for intensifying oilfield development and increasing production.
To make proposal and assessment by reviewing research and survey reports of petroleum development and production operations.
To develop standards, rules and regulations for petroleum related operations and provide legal assistance for the implementation thereof; “
I like the bit about INTENSIFYING oilfield development. Now who are they going to get to do that?

BB, I totally agree, this first licence and the means of how it arrives will establish principles which will last a long time. This is all new to the Mongolian Government and the start of a transformational stage in their history. MB needs to establish relationships that endure and the cards are not in his hand at the moment. He has to use diplomacy as you say and he cannot force the issue now and regret things in the future that may prejudice the long term success of this company in Mongolia. It is wise to remember that he must have anticipated this when he and the other directors took a significant pay cut whilst this process went through.

Someone isn’t too worried. Some big repeat buys going through, circa 400000 at a time. Someone has a lot more optimism than you. Mongolia wants Mongolian oil going through their refinery next year and until the refinery is ready they don’t want the oil going anywhere else. You don’t build a refinery and then not have oil to refine. There will inevitably be some fund raising required here. There are big plans afoot to drill other wells and get production going and you can’t do this without cash. Nothing has changed, it is either be negative, move on and get out or be positive and stay put. I am staying put. Shares here are a gamble but I feel more at ease here than in other shares available at the AIM casino.

Great work Jimi..! It is all coming together here, time to add a few more I think.

I am not suggesting that the EL will not be issued before the refinery is complete. What I am saying is that with no refinery available in Mongolia presently, there is no rush to issue it now. The timing of the EL will go hand in hand with the refinery being operational. When they need oil in place for refining to commence they want this to be Mongolian. They will not want to see oil being trucked out of their own country. I want this to succeed, I have been here a long time and can’t wait to see my investment bear fruit. It is on the way now ...
GLA.

This lends weight to my thoughts and post last month, Mongolia are not going to grant an EL only to see “their” oil go over the border into China for refining. They want all of the oil found in Mongolia going through their refinery. We should expect the timings to fall in line with the refinery opening in my view.

Well I have been waiting patiently for many years and have bought some more a while back at 3p , thinking that was the bottom. I am not too worried as it is not lifechanging money. I have been thinking about why the delay in the Licence and then I realized in a glimpse of the blindingly obvious. The Mongolians want the Oil to themselves. The refinery will be built , so why do they want to grant a licence now and see the proceeds of the drills taken to China to process? Mongolia wants the oil to be kept in Mongolia. Unfortunately I believe this will delay the licence further but I will wait. I think that there is some horse trading to be done regarding the extraction and refinery costs to allow MATD to make any money at all. Jimithebrush posted some good research a while back that does make me worry somewhat. We will see ...