RE: Anyone tried to visit the drillsite01 Aug 2018 07:46
OT, not OJ !
What people have to realize as Oilfated raised is the guys are operating in the middle of a desert. This years weather has been harsh in terms of rainfall. If they lose a couple of days on schedule due to inclement weather, I am sure they will make it up.
All sorts of odd things can crop up in the Gobi including unannounced visits from Soum governors, inquisitive herders, ajoining Soum governors looking in, all of which need carefully managing or a political situation arises which may impact schedule !!
Not just about putting a drill bit in the ground and letting the technical guys deliver. Lots of other moving parts Matad will have to manage. So let the guys crack on, wait patiently, and I am sure they will deliver news in line with what they have told their shareholders.
Or, your welcome to the 600 click horse ride due south west !!!
My view of this is, Matad have acted quickly, professionally, and with integrity.
I posted a week or so ago compliance is probably the biggest single factor corporate groups view as important above all other aspects of business these days. At the time I remember a poster stating that was “dribble” or similar. Appears not !!!
I am pleased Matad have acted quickly and demonstrated very clearly that if a breach of compliance may of occurred, they have moved to correct the action, in turn in my opinion demonstrating very clearly the business considers ethical business a priority, which also demonstrates a commitment to its shareholders.
Noise taken care of. Hopefully the next RNS will be news of a more profitable sort.
However with the demob and remob of the rig from SL to WH, has anyone seen anything in relation to permitting for a potential test rig ?? I would assume separate permits would be required, or does the original permitting capture the entire execution strategy ??
Also just for info, weather in the South Gobi this year has been worse than normal with localised flooding. I am hopeful this will not impact the logistics moves.
RE: Next rns could be director resigns15 Jul 2018 21:51
It's hard to disagree with the majority of your points.
What we have to remind ourselves at junctions such as these is, compliance is there in any business to protect individuals and if followed, ultimately the business itself.
Failure to follow both ethical process and compliance places indivduals at risk of legal repercussions, but ultimately can at worse smear the business.
I am sure this was an individual breach, with no bad intentions, which can be addressed quickly.
My view is as long as this is an isolated incident, then no harm done.
Audit could be a preventative measure perhaps the board may wish to consider in the future so share holders are happy compliance and transparency is being adhered too. All the big four exist in Mongolia.
I work for the big show in town so I am very happy with my employer!
Just a thought that if someone that knows the market, knows the company, and knows mongolia may be available, with the current perceived comms issues, it may be a very good time to perhaps engage the chap and see if he may be available based upon his current commitments ??