Member Info for Wigster77

Another morning, another load of waffle we've heard many times before from WOS.

And yes, this "HARD BUYING" amounted to less than £1100 in the last 3 hours of trading. Wow.

Still, I'm holding tight. Hopefully there will be some good news RNS(s) sometime soon.

GLA.

Probabilities based on LP at 66%, Velociraptor success 20%:

1. LP lands and raptor is a success? 20-30p, possibly more if it's good quality oil, upper end of estimates volume wise etc

13.4% Chance

2. No LP and raptor is success? 10-20p

6.6% Chance

3. LP lands and raptor is a duster? 12-15p

53.6% Chance

4. No LP and raptor is a duster? Initially 2-3p but eventually drifting to sub 2p with our hopes left on the renewables adventure.

26.4% Chance

Just to qualify, 90% chance of LP is my own figure. Could be more....could be a lot less.

Probabilities based on LP at 90%, Velociraptor success 20%:

1. LP lands and raptor is a success? 20-30p, possibly more if it's good quality oil, upper end of estimates volume wise etc

18% Chance

2. No LP and raptor is success? 10-20p

2% Chance

3. LP lands and raptor is a duster? 12-15p

72% Chance

4. No LP and raptor is a duster? Initially 2-3p but eventually drifting to sub 2p with our hopes left on the renewables adventure.

8% Chance

HPHQ?

Bannos8888?

Graham201986?

There's also a couple of people on the Discord group interesting in coming along too.

I've a feeling that the meeting will be a very different tone to last years...

I think if the SP ever gets back to £1.75 there'd be a party at BigJohnnyWins place for a solid week.

Anyway, more justification for investors to be extremely "probing" with their questioning next week. If they do deny a Q&A session then that really would be poor form and tell us a lot about the people "running" the show.

ATB & GLA

There must be something major in the offing. They wouldn't feather their own nests before the AGM, knowing that Professional is already planning to rip into them so badly it'll make headline news around the world...

GLA.

They won't though, Doc. They just prefer to spout off from afar on BBs like this instead.

I'm looking forward to seeing your masterclass in holding the company to account at the AGM, Professional. It should be quite the spectacle.

Been busy all day, so only just catching up on the RNS and comments here. This bit in the RNS stood out for me:

"During 2022, the Company continued to make progress in establishing itself as the first independent Mongolian oil exploration and production company but remained frustrated in its efforts by the ongoing land access dispute. However, having made good progress with central government, the Company is confident that the land issue will be resolved during 2023"

"Resolved during 2023" doesn't make me confident it'll be any time soon... Let's hope the much debated "shortly" word in the RNS proves to be correct and WOS is accurate with his "well researched" and "logical" BEFORE 9th July prediction.

GLA.

Let's wait to see what they say at the AGM before starting the melodramatics. I may well leave the meeting sharing your sentiments...

It's great trying to use logic WOS, but unfortunately this doesn't mean that the MG will adhere to this logic. For all you know the piece of paper could be sitting in someone's "In Tray" for 2 weeks as they're on holiday. There could be other delays/red-tape that we don't know about. There may be multiple "projects of national importance" above this one in the queue. Just because we're all desperate to make millions from PM in the next few weeks doesn't mean the MG share our urgency unfortunately.

Nevertheless I do hope you're right with your timescales and you never know, they could be doing the final signatures right now, but ultimately we'll just have to be patient and wait for that RNS.

ATB & GLA.

TP - I have had my letter confirming I can attend the AGM. If you have any specific questions you'd like me to put forward for you then I'm happy to do so. Like probably all of us on here I have a lot of questions around the next few months, hoping they can put a bit more meat on the bones from the general "plan" which was put forward in the last RNS. Particularly things like how they are thinking of funding another P3 trial...

GLA & ATB.

"I know for sure but can't tell you why!"

If ever there was a phrase which makes people lose all credibility this is it...

Was up 9% at that point due to less than a tenners-worth of shares being bought at 8.95p!! Normal service now resuming.

WOS caught with Pants OFF and now needs to go shopping for more!!! ;-P

MB surely knows all to well the importance of getting the LP before Velociraptor spud, so I do believe it when they say they are pushing as hard as they can. Also, helping the locals on their forest fire issues is a great show of goodwill to the people and the country, so I don't think PM could do a lot more.

As far as Mongolia goes, their government have aspirations to be a serious forward-thinking player on the world stage for energy (and no doubt other things too). Its high time they put a bit of urgency behind these projects of "national importance", and unblock the red tape before their industrial partners give up and go elsewhere.

Hopefully not too long now anyway. ATB & GLA.

The drop is due to the delay in receiving the land permit we're all waiting for. The drop is probably a bit excessive, but people are getting impatient/jittery. From the RNS 22nd May:

Block XX Exploitation Licence

Documentation prepared by the Ministry of Mining and Heavy Industry (MMHI) for submission to Cabinet to secure approval to certify the Block XX Exploitation Area as a Special Purpose Area was completed. However, the Ministry of Construction and Urban Development has insisted that as the ministry responsible for land issues, the Cabinet submission must come from them. As a result, they are repeating the step of asking all other ministries for comments after which we expect they will make the submission. The loss of more time whilst this is done is frustrating but highlights the fact that this is the first oil project to be put through this bureaucratic process based on regulations introduced in 2017 and the authorities involved have no obvious precedent to follow. The Company continues to push at all levels to underscore the importance of this licence for the Company and industry in Mongolia.

I think we could see 8p tomorrow ;-p

Wise words Jimi. Fortunately I am thick skinned enough to cope with being called walnut brain and other such things :-)