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Re: Velociraptor
"Although this is disappointing, it was a high risk well and in our view is OUTWEIGHED by the positive news that Petro Matad can now start to plan the Heron development"
"Our RENAV is reduced from 57.7p/share to 26.7p/share. Although this is a major reduction, the certification BLOCK XX as Special Purpose Land should provide investors with MORE CONFIDENCE IN THE CORE VALUATION" (26.7p).
Also they mention DQE contract FINALISED but not signed. I expect this RNS very soon.
So core 26.7p have more confidence with analyst!
"The company has FINALISED a contract (although not yet signed) with DQE Drilling, the main provider of drilling services in Mongolia, for a MULTI-WELL PROGRAMME that would see drilling of further development wells on the Heron Field AS WELL AS some exciting near field exploration targets"
All systems go toward multi well field development / revenue look like :)
Think price will start to push to anticipate DQE sign which we did expect to happen after Land Access.
Like they say all finalise & just need to be sign.
When DQE come in will really be ALL GO.
Also near term news on Renewable / New Block.
Now Velociraptor past we can look forward :)
Where is the snippet from WOS
My bad on the progressive report. Looks like an old one which is good news. So no excuses… I want to see 26p by Friday 😬
No problem mr Doc. This us what good sharing of intel for & so we build up better & more complete picture of investment.
Mr Girdonbennet quote of DQE direct from Progressive Report 10/07/2023
New Block / Renewable from one of recent RNS.
Good night :)
Thanks WOS, the progressive report is on my reading list for this evening.
Have a nice night all
So, with 50% dilution we can half that target and think ourselves lucky to reach 13p ish........
Welcome to my planet.
So just read the progressive report! https://docdro.id/YVOTsfh
Is the finalised contract with Dqe new news? I do t recall seeing the term finalised being used in previous RNS’s have they let the tongue slip?
That’s pretty key of so!
GordonBennett: “Is the finalised contract with Dqe new news? I do t recall seeing the term finalised being used in previous RNS’s have they let the tongue slip?”
“Negotiations with DQE Drilling ("DQE"), the main provider of drilling services in Mongolia, have been completed and the contract for a multi-well development drilling programme is with DQE's head office for review and approval…”
This was from the operational update of 14th February. It’s been with DQE’s head office for a long time! I presume it was while they waited to see if the LP came in, otherwise it was pointless. Hopefully they don’t now demand new terms because we don’t want any further delays.
Many thanks Doc!
As you mention it is likely they were waiting for LP to land before executing. Lets hope that is now a formality and can be knocked up with a timeline to get production started!
My instincts tell me that we will see an upward trend whilst we wait for the next steps! Provided the government don't mug us off on the signing front. It is in their interest to get production started as they reap rewards via taxation etc.
Curious
£1 party is on...just the location has been moved from Block V to Crowne Plaza Block XX 😂
I would have thought that since we all been waiting for so long for the the LP, every was prepared for when it was given! And because MB said so himself it was a matter of when and not if. And when the LP landed, I would have expected announcement at the same time as to the time scale of actual oil extractions too!
Rookie.
They told us in last Thursday RNS, that in parallel at the same time we have asked drill provider to confirm time table for Heron. So would expect that announcement very soon. May be even this week. They all been on stand by just like DQE who all been waiting for granting of Land Permit which has now been given.
//The Company will now work with the central Land Agency and local authorities to complete the registration of the area and to sign the necessary contracts required by the regulations on the management of special purpose land.//
Is there any indication of how long this might take? No workover until it's done.