Petro Matad Share Discussion Threads

[telbap] 29/9/2023 09:16

This is the only positive note we can take away from that RNS in regards to oil flow.....In response, the Company is urging central and provincial authorities to speed up the remainder of the process and, with the special purpose certification now approved, Petro Matad has asked the district authorities to allow Heron 1 operations to go ahead in parallel with the slow-moving bureaucracy at central and provincial levels. The district representatives have signaled their willingness to consider this so long as the Central Government supports the initiative and MRPAM has confirmed its support and is preparing a letter to that effect. ........let us hope they don't get writers cramp :)

[telbap] 29/9/2023 09:12

It would appear either jobs worths or bribes.It will be one of the two, or perhaps both.As we we know, one bribe payment is the same as a lifetimes worth.Let's hope the idea of running in parallel with both elements of government works and they can get that bloody letter signed off promptly.

[simon8] 28/9/2023 08:45

So frustrating, Mongolian authorities showing themselves in a very bad light to the international investment community. One word springs to mind - incompetent. Do they not want the oil revenue?

[telbap] 28/9/2023 08:35

Well that's a fexker. Looks like no oil till the new year. Oh well back to the bottom drawer

[bones698] 28/9/2023 07:48

Followed this a long time but it never seems to deliver anything tangible just more jam tomorrow and changing tack but nothing gets delivered. A duster ,no production and renewables years away if the government don't pull the plug or walk away or delay even more.

Has its spikes on hype but always falls back as the reality sets in .

[pro_s2009] 28/9/2023 07:03

Update :



.

[mr royle] 20/9/2023 21:41

As far as I'm aware, the extraction of oil is just a 2 week worker and it isn't reliant on the seasons as no drilling is required.
So ... it could still happen even a few months from now.
Keep them fingers crossed either way that we hear some good news soon.
This usual waiting without any updates is beyond tedious.

[neo26] 15/9/2023 12:42

No heron this year as well.:rolleyes

[2 solaris] 31/8/2023 15:40

Good to see this is up 14% at the moment, makes me hope good news is around the corner...

[telbap] 24/8/2023 08:36

Well certainly gone quite here! Guess we sit and wait the oil is flowing rns

[telbap] 14/8/2023 11:23

@man1. This is all pretty new territory for all concerned. The local government, central government and The company. It will take time to move the papers as no one really understands how it will work. Like trying to bake a cake without instructions, I will take longer as there will be mistakes made.

[man1] 14/8/2023 10:09

From the recent interview, I read that in reality we are in no better position than before the special access , as we are once again waiting for local government . So we will once again drift. Many on the Bb were stating once the special access was granted , we would be on our way within a few weeks , which is obviously not the case .

[pro_s2009] 14/8/2023 09:41

Are they fully funded to production IF the Heron well is delayed production until say Q3 2024.

If there is any chance that Heron production is going to be late, and the company knows it and it might leave them a bit short on the cash front, they will be obliged to raise further funds to ensure they have enough cash for 12 months operations, on a going concern basis.

[man1] 11/8/2023 13:31

Yep, I did... we might get Heron online by year end . Depending on whether documents signed. Seems every time we take a step forward, there are more documents to sign ...Your right, though shud have done more research. Didn't know once special permit signed still had to go through local government for registry etc. I presumed that was to circumvent further delays by cutting them out of the loop...Doubt I was the only one tho ..

[telbap] 11/8/2023 11:05

that interview sounded Uber positive, he came across pretty certain that heron 1 would be on stream those year, all needed equipment and teams are in country, just more bureaucracy. Ok just market BS today

[man1] 11/8/2023 08:12

MB just loves destroying his own share price.

[telbap] 10/8/2023 14:42

Something leaking....oil perhaps?

[neo26] 09/8/2023 23:13

JungThey have been in discussions for years, read past rns's.They need to agree with petrochina and then with mongolia govt. Plenty needs to be done before they can extract the oil out.

[jungmana] 07/8/2023 12:23

Silence is golden, holding tight here;"we are already in discussion with service providers to determine a timeframe in which crews and equipment can be available for the completion for production of the Heron 1 well."

[2 solaris] 07/8/2023 10:40

Very quiet these days but a good start to the new week.

[mr royle] 30/7/2023 00:11

Well, we had a good day on Friday despite it pulling back from being nearly 20% up at one point. Someone buying in large £20k+ chunks and then maybe a lot of sell orders being triggered. Either way, 5 x £20k orders isn’t propel just taking a punt … or at least you’d think so.
Hopefully we’ll have a nice surprise on Monday morning.
GLA