Member Info for The_Gold_Mine

FairAnalyst: the link below doesn't work for me?

http://dqyt.cnpc.com.cn/dqen/bus01/dqen_common.shtml

master82: I had similar misgivings about MB as well, but I took a look over the weekend at Salamander Energy and there was decent sized offshore projects executed during his tenure when he was COO. So I don't think the issue is one of lack of experience or incompetence etc. Could be a combination of factors, but I am in agreement it is frustrating for investors.

https://www.spglobal.com/commodity-insights/en/market-insights/latest-news/energy-transition/040122-petrochina-to-lift-output-intensify-trade-and-bolster-green-energy-against-rising-supply-risks

PetroChina needs crude oil:
"Crude imports
However, PetroChina's domestic crude production could only meet about 62% of its throughput needs, according to company result, leaving the rest to rely on imports.

In 2022, its throughput target is at 3.48 million b/d, up 3.6% from 2021 as the 400,000 b/d Guangdong Petrochemical is expected to be online in second half, suggesting an increase in crude imports."

Intensifying international trading activities ... amid rising risks due to the Russia-Ukraine conflict
"China's integrated giant PetroChina will invest efforts to boost domestic oil and gas output, intensify international trading activities, as well as grow renewable energies to ensure energy supply amid rising risks due to the Russia-Ukraine conflict, chairman Dai Houliang said March 31 during the company's 2021 result call."

My guess is both the Chinese government and Chinese oil & gas companies sees a long, sustained oil supply shock coming, and will be looking to secure supplies to protect against this. ;

And PetroMatad are perfectly positioned to help!

Thanks gents, for me I am less certain that we will receive the news within the early Q2 timescale (as mentioned previously complex business negotiations can take a while to work through) however I do hope you are correct. For me being a long term holder if it slipped out a month or two it won't be a big deal.

Positive news on the DQE front really would be lift off for MATAD, I am encouraged by the fact that DQE initiated the proposal to MATD rather than the other way round, hopefully suggesting that they are serious about the proposal.

Keeping my fingers crossed and hoping for the best.

FairAnalyst: please elaborate where this was said, I watched the InvestorMeetsCompany presentation and did not pick up on this point?

Thanks

When is news on DQE proposal expected? Last Operational Update stated early Q2 for the working group to meet and (hopefully) arrive to some conclusions.

But, I note the negotiations could take a while to thrash out, I see some people are suggesting news "early Q2" but I do not believe that has been stated by Mike Buck or PetroMatad anywhere, "early Q2" seems to be a date that people are hoping for some news rather than something stated officially? If I am wrong please advise.