Member Info for The_Gold_Mine

They will need to draw down the levels in the tanks a bit before they can start the pumps up... A delay between startup of export and pump startup would therefore be expected.

The main concern I had for getting Heron-1 online was the closure of the oil export route; with this now (apparently) re-opening I can't see any insurmountable barriers to bringing it online.

PM still have 5 months left in the Mongolia drilling season for 2022, plenty of time to bring Heron-1 online given that they were aiming for a Q2 startup originally.

AIMHO/DYOR

Bowley: Petro Matad are dependent on Petro China exporting oil to bring Heron-1 online, this is stated in the most recent RNS,

"The current suspension of all oil production and export from PetroChina's Blocks XIX and XXI and with all on site storage full means that we need oil export to restart in order to optimise the start-up sequencing on Heron 1."

How exactly could Petro Matad management be able to give a firm plan with dates when they had no visibility on the export route re-opening? You seem unable to grasp this basic point.

With the re-opening of the export route Petro Matad management can update the market on timelines for Heron-1, hence anyone with half a brain should understand the importance of the PetroChina export operations re-starting...

Bowley: I am having a laugh to myself, PM have already ordered the surface equipment for Heron-1, meaning they know EXACTLY how they are going to extract the oil from the well, as they have already completed the detailed engineering. They are way beyond the "strategising" stage as you call it, they are now at the "execution" stage,

Your statement "They do not have plan" is laughable, where is the evidence for this? They have a brief plan on page 11 of the investors presentation, what level of plan sharing do you expect them to give to the market beyond that, for such a simple plant as Heron? Sorry but this does not wash,

Your may feel that PetroMatad are not executing well which is your opinion (and is fair enough you are entitled to your opinion) but the rest of what you are saying sounds frankly made-up,

I wonder if perhaps you have spent too long in the public sector and expect to see endless strategy documents and flowcharts, sorry but the productive private sector does not work in that fashion, less is more in the private sector,

Bowley: we most definitely do have product to export, it is under the ground at Heron-1 waiting to be taken out. The plan was stated in the last Operational Update RNS:-

"With the Covid-19 situation in China causing operational delays in Mongolia, the Company continues to prioritise its efforts to get Heron 1 on stream. The contract with the chosen well completions contractor is in final form. We are seeking confirmation that equipment and crews for the completion and readying for production of Heron 1 are available as soon as we are ready to mobilise. It is our operational preference that as soon as the well is stimulated and completed it should immediately be put on production. The current suspension of all oil production and export from PetroChina's Blocks XIX and XXI and with all on site storage full means that we need oil export to restart in order to optimise the start-up sequencing on Heron 1."

With oil export soon to be underway from the PetroChina blocks, I am expecting the dates for stimulation and completion of Heron-1 for production to be confirmed in the next RNS...

Bowley: PetroMatad have advised there preference is to bring Heron-1 online as soon as it has been stimulated and completed for production, this implies they need the export route open and in operation...

This was written clear as a bell in the last Operational Update RNS.

For a supposed government advisor expert you seem to be unable to grasp basic facts relating to the start up of Heron-1 written plain as day inside the RNSs.

Restarting of oil export from PetroChina blocks is good news for PetroMatad,

Bowley: given that Petro Matad will be sharing processing and export facilities with Petro China, I would suggest that you as an investor should care what Petro China is doing,

If PetroChina is unable to export, then neither can PetroMatad... Not too hard to understand, is it?

LOL curiousandcuriouser talk about looking a gift horse in the mouth, sorry if I do not know all the personal details of the lady in question, however the important point for the billboard is it sounds like PetroChina oil export is going to restart in less than 48 hours (if the lady is to be believed), exciting news I would have thought, more so than me referring to the lady by the wrong job title...

AIMHO/DYOR

Anyone who wants to read for themselves, I posted the instructions how to do it on the ADVF*N board as it allows me to post the slavic characters, unlike this board.

TGM

Oil Export from PetroChina restarting, according to local environmental activist
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Looks like oil export will be starting up in 2 days from PetroChina facilities, according to our friendly environmental activist! Timing couldn't be better for the RNS.

As translated word for word from her facebook page, posted 5 hours ago!
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Oil transportation is leaving in 2 days, let's see what you do, one driver said kkk
Thank goodness, when oil transportation starts to operate, they demand to #demand Mongolian laws, #demand to #demand the paved roads, and #demand to change the product distribution contract, and #demend the result of the social responsibility contract shown with soums d, They also held a protest rally protesting the slowdown of their criminal case.
It's showing the exact exact time??
# ??? remind PETROCHINAAD that Mongolian youth has already woken up!! !!?!!? !!?!!? !!?!!? ??
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Text in original Mongolian, however I don't think this board show the characters correctly!
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2 ???????? ????? ?????? ????? ?????? ????, ?????? ????? ???? ? ???? ?????, ????? ?????? ???
????? ??? ????? ?????? ????? ???????? ?????? ????? ????????? #????? ????????, ????? ????????? ????????? #????? ????????, ???????????? ?????? ???????? ?????????? ? #????? ????????, ??????? ????????? ???????? ??????????? ???????? ?? ???? #????? ????????, ???????? ???????? ?? ??????????? ??????? ??? ??????????? ???????????? ??????? ??????????? ???.
??? ???????? ?????? ? ????????? ?????? ?????
???????? ????? ?? ??? ???????? ?????? ??????? #????? ???????? ????????????????????
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Obviously people will have to make there own mind up given the source, but I for one am convinced we could be in business soon .... fingers crossed!

AIMHO/DYOR

There is a whole lot of potential news on the horizon:-
* Conclusion of deal for using PetroChina facilities & logistics for Heron field
* DQE Partnership deal / multi-year drill programme update
* Velociraptor drilling update (in-country drilling contractor identified during last RNS)
* Contract sign-off and slot booked for stimulation and re-completion of Heron-1

Plenty of upside and still 5 months left to go in the drilling season... And all the while the global energy crisis continues humming away in the background, oil sitting at $110+ plus,

AIMHO/DYOR

Given that several people on the board have discussed this already (prioritisation of PetroMatad Heron-1 work in exchange for additional money) I would suggest Mike Buck would certainly have thought of this himself or have been directed to it by Petrovis, who I imagine will be as keen to start seeing a return on their investment as the shareholders are on this board.

lambo: I'd guess we would need to have faith that Mike Buck would have the sense to offer an additional incentivisation payment to get to the front of the que for Heron-1 if needs be, that could be win-win for PetroMatad and PetroChina... Delaying a single workover is unlikely to make a difference to PetroChina's revenue, so they may be amenable to something of that sort in the worst case scenario.

lambo: for Heron-1 we are not waiting on drilling, it needs stimulated and completed for production which is a 2-4 week activity. Also my understanding is Chinese covid restrictions are loosening from the 1st of June onwards. There is still over 5 months left in the Mongolian drilling season in 2022 (mid-November closure advised by MB previously during a presentation).

Your speculation about 1.5p share price seems unnecessarily pessimistic, as the SP has never gone below 2p in the last 5 years that I can see, so it is hard to envisage a plunge that low given we now have an exploitation license in place and surface equipment on order for Heron-1...

Oilfarmer: I would imagine China would be delighted if Russia could "flood" the Chinese marketplace with oil, unfortunately they do not have the logistics or infrastructure in place to do this... New export pipelines cannot be magically created instantly or shipping routes shortened, unfortunately!

There is a worldwide energy crisis going on and China being the largest importer of crude oil would be happy to take any oil that is going, I would imagine... Brent crude at $123 dollars currently,

Bowley: given the exploitation license was only granted 11 months ago I'd be astounded if the Mongolian government were "focusing" on MATD because it wasn't online yet, as we all know all oil and gas projects go through a process which takes time:-

Conceptual study/Concept Selection - FEED/Detailed Design - Engineering Procurement and Construction

I can't think of a single instance when a project has been brought online in less than one year, and definitely I have not seen this occur during covid. I would have thought an oil and gas / mining "expert" like yourself would be aware of this fact,

I also would have thought the Mongolian government would be more concerned with the plunge in oil exports (down from 24,000 barrels/day in 2015 to 12,000 barrels/day in 2021) and the loss of revenue associated with this, if I was the Mongolian government I would be asking my Strategy Consultant why they didn't put a plan in place to prevent this?

In my experience I generally come across oil and gas experts, or mining experts, I don't think I have ever came across anyone claiming to be both... As the two industries are not exactly similar... But whatever, lets keep the act going!

One month since the last Operational Update (5th May was the last one). I'm sure all investors would appreciate some newsflow, be it news of progress on permitting, arrival of equipment on site, developments on DQE partnership talks, signing of contract for Heron-1 workover and re-completion, etc etc

My feeling is things will pick-up for PetroMatad once they have brought Heron-1 online, I would assume once a solid revenue stream is established they would be able to get a bank loan against the Heron income stream + reserves report for further expansion after that... Possibly even look at bringing in an out-of-country drilling contractor if needs be to get things moving if the DQE partnership doesn't work out.

I'm not seeing how running out of money is a concern at this stage as they haven't completed their initial work commitment yet plus we are not significantly beyond the original on-stream date for Heron yet. Plus I don't think Petrovis would be too happy having to fork out more if they had nothing to show from the last bundle of cash provided.

AIMHO/DYOR

ART123: I think you got told on the ADV*N site there is a more active board, if you want everyone else to fit around your expectations for posting when and where you like you could be waiting a while for that to happen.

Good for you trading out of your position at a high point,

I guess the risks and expectations with trading are different from those looking to invest over a 2-3 year timescale.

ART123: Production from RCE-2 is actually slightly above pre-drill expectations?

It has been made clearly repeatedly that the wells in the llanos basin come on strong then tail off, there is another 6 drills for the upcoming drilling programme according to the investor presentation.

Whilst I don't particularly like the sell off today I think it's pretty standard for one of these microcap stocks that you're going to get unexpected volatility and minor setbacks from time to time, if investing was just a predictable straight line upwards everyone would be a successful investor... If you can't handle a bit of turbulence maybe ask yourself if AIM stocks is where you want to have your money at?

Looks like the Colombian Presidential Elections is heading for a run-off between Rodolfo Hernandez and Gustavo Petro in June.

hTTps://www.bbc.com/news/world-latin-america-61628589

The surprise success of Hernandez in taking second place would appear to be a gift to those opposed to the left winger Petro as previous polling I've seen shows the two populist candidates as being neck-and-neck for the run-off phase of the election.

hTTps://www.as-coa.org/articles/poll-tracker-colombias-2022-presidential-election

Polling on this page shows the vote split evenly at 40.5% Petro 40.5% Hernandez.

Another thought to keep in mind is the momentum in this election at this stage appears to be with centrist popularist Hernandez, who staged a come-from-behind rally to take 2nd place in the first vote and who appears to be newer to national politics than the leftist Petro and therefore possibly has further gains to make as his message gets transmitted during the 2nd phase of the campaign.