Member Info for Pilsbury7

Now that is common sense Dozzawba

Why do you say the government is in recess until October? plus you need to remember that in reality the views expressed on this board are only worth a pinch of salt and we are just minnows compared to the rest of the investment portfolio. WOS is entitled to express his view along with Bad Profit sometimes they are right and other times they are wrong - simple really. MB isn't just sat on his backside he is spinning many plates to hopefully ensure none crash onto the floor.

Thanks Bad Profit. I have now sent an email direct to the Ministry of Urban Development asking if they could kindly set out a time table for when the documentation will be submitted to Cabinet. I may receive a reply, time will tell.

Hi WOS

I got into the website and went into translation. Struggled to find the actual document as I got lost in menu navigation. Going from the menu on left hand side what is the pathway (route) to click on to get to the document. Thanks for your help

WOS. How do we check for ourselves? Is there a link anywhere? Thanks

The path for final approval by cabinet for the LP permit has now been corrected. This often happens in the Governments and Local Governments throughout the world as they are machine bureaucracies. The rest of the RNS update is really positive. In reality nothing has changed with the LP still going to cabinet and we now know a lot more information on the other matters. If you are a long term investor like myself now is the time to remain calm.

Agreed Sir Bob. It would be unethical not to release an RNS setting out the position relation to the special licence for Heron prior to the raptor spudding taking place. Many investors would wish to top slice their investment if the special licence is not granted prior to spudding raptor. This is on the grounds that the raptor drill is high risk and investors will want to protect their principal investment. I know you hold a high volume of shares just like me and need to make an investment decision based on risk.

The next best guess will win a Petro Matad share. Let's all stop guessing and get back into the real world. The next RNS is the only answer to all of your guesses.

Why is it an advantage to our share value. Surely if a new company is being set-up it will potentially have it's own share issue and therefore of limited benefit to us. Please explain. TVM

Brel
Have you listened to the recent MB presentation. You will find a full explanation of how the multi well approach will be funded on the Heron site.

Landicaamans I am in an identical position to you, been spot buying since 2016/17 and now hold +520K shares. The permit to extract the oil is critical whilst there is a strong link to the new areas out to tender in the sense that if PM have tendered for any of the five areas it would be rather worrying if they were not successful. Local knowledge, scales of economy, and short resource supply lines should make their tender very competitive. To secure more land would help to reinforce their position as a major player in the Mongolian oil industry and drive up confidence in investment markets. confidence. The next few months may well prove to be the acid test for PM.

Yes. I opened the page and your take on the situation appears to be correct Dozzawda. No license news until after the 13th.

Petrovis is a 32% shareholder of Petro Matad. Petrovis is still a significant shaeholder who will want to see a return on their investment plus Enkhmaa Davaanyam is CEO of Petrovis Group, Mongolia’s largest fuel supplier still sits on the board.

Enkhmaa Davaanyam is Non-Executive Non-Independent Chairperson of the Board of the Company, effective 1 August 2015. Ms. Davaanyam was previously a Non-Executive Director of Petro Matad and has agreed to take on the role of Chairperson. As a Non-Executive Director, Ms. Davaanyam was instrumental in concluding the recently announced farmout agreement with BG Group. Ms. Davaanyam is currently the CEO of Petrovis Group, Mongolia's largest fuel supplier. Petrovis is a 32% shareholder of Petro Matad. She has over 18 years of international experience in financing and risk management of mining, infrastructure and energy projects.

I don't really see Petravis pulling the plug on PetroMatad plus it would be a very poor advert for further internatinal investment. Time will tell.

Lets not forget the oil refinery will need oil stock.

Mongolia is the beneficiary of India’s single largest LoC for construction of USD 1.236 billion Oil Refinery Project in Dornogobi Province capable of producing 1.5 million MTA oil, roughly 3/4th of domestic the country’s consumption. It is expected to be completed by 2025 and Engineers India Limited are part of the project.

These land issues will need to be resolved although it certainly seems that over the past year or two the Mongolian Gov't has failed to grasp reality and drive through the required legislation. I can't imagine for one moment that Mike Buck is just sitting on the sidelines when he has everything to gain with the number of shares he holds. This also applies to Petrovis who are the majority shareholder and a key player in the Mongolian economy. The RNS is long overdue particulary when MB gave a number of clear commitements in his last video interview - none of these have materialised except his promise that if the land issues are not resolved Petro Matad will not move in to extract the oil. Difficult times in a difficult world!

D1nger makes a number of valid points. The next RNS is well overdue although do remember that MB has stated that until the local issues are resolved the ground crews will not move in. Petrovis are also in a position to shore up any financial issues as they did last year with a short term loan to get through the winter months. If I remember correctly there are also a number of high profile government ministers who hold significant shares in PM along with MB. I don't believe they will bit their noses off to spite their faces although stranger things do happen on the AIM market.

Jimi B. A very useful read. Does this relate to oil? If it does, there is a clear acknowledgement from the Executive Director
that the regulations being applied are certainly causing an issue for foreign investment and these need to be resolved.

I have been with PM for the past 4 years and read this board on a daily basis, I have a good size holding. I don't always agree with the views expressed by badprophet although on this occasion I think he has made a valid point ref refinery impacting on oil extraction date. We need the revenue from oil sales otherwise the working capital will dry up well before 2025. It's also possible China may have invaded Taiwan by then which might be a really large spanner in the works!

I agree Aspers. There are makers and breakers who try to manipulate the share price for a variety of reasons which is why it is important to do your own research. I hold a few more shares than you and I'm pleased you see this as an investment although with a degree of risk. I retired at the age of 53 years and have no financial stress which allows me to be quite relaxed about the situation although at the end of the day I still want this share to hit at least 50p!

I have had a substancial investment in this company since 2018 buying in at the highs and lows at various stages of this journey. I read all of the comments from various quarters and conclude that you simply love the banter. We have almost reached the critical stage or tipping point to turn the fortunes around. It will happen either this month or the next or the next, but it will happen. The logistics, financial plan economic conditions are well aligned. Thanks for making me smile every morning . I also have small investments in Echo and Sound now they are a disaster whilst PM will turn into a cash cow!