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We all know there is a lot going on behind the scenes here.
We hope for the RNS for the SLP which will allow Heron to go live and start to pump some revenue. This seems to be moving ahead after Cabinet approval and just needs for PM to provide the final docs for certification to be issued.
But we also know about the activists trying to make noise about urgent court action to stop everything. So momentum is in our favour the SLP is in sight and should be ok, and yet it needs to get over the line before we can breath more freely.
I sense that all of this is delaying MB and PM or the MG from announcing any of the other exciting news items such as new blocks and the delegation to the IOM and the new co of P M Energy ltd etc etc.
This suggests to me that the issues are still live and hot on the ground there and I am glad that a good calm and sensitive approach by MB seems to be the reason for the slight blackout to us all on the bigger picture.
This is just a hunch and I hope we get that SLP in the coming week.
Manx . Well last week's hunch of yours didn't materialise so how confident are you with this week's hunch?
Where's the guy who said Heron would be producing "in 3-4 weeks"?
Looking at the trades coming through yesterday morning.. definitely someone knows something.. Obviously it’s good news. Probably the wags lol.. I would be very surprised if there was no news within the next few trading days.
That's not true! My hunch last week was the RNS would be this week or perhaps next week coming.
It is still my hunch and could still be true by the end of this week coming!
Regardless, the point is why has there been such silence and half information with a proper and full disclosure? That's all.
Where's the guy who said Heron would not be producing in 2023?
Still here Ojay - but what I actually said was "No oil sales in 2023". Still saying it!
Manx, I think you are correct ref the current silence and IMO
as soon as the LP is registered and PM get the go ahead I think there will multiple news coming out
Thats exactly the point i was making earlier Dozzawba.
The registration of the LP could take as long as or even longer than the approval of the LP. That's how politics is in some countries. There will be good news no doubt but we will have to be patient.
Roxy, yes it could take as long as the LP, nobody on this BB knows how long it will take, but personally I don't think it will tbh. I think there was a reason that the Mining Minister Ganbaatar went to Dornod and met with the governor, within 2 days of the LP being approved by the cabinet.
B/p: Of course - and how would you like to determine whether there are sales or not?
Your response is obviously solely for the purpose of "wiggling yourself out" - nice try!
Would it be so bad (for you) should PM start to pump oil this year?
I will gladly pick up this discussion in a couple of weeks/months. In the meantime I recommend you try to find a
good place to hide out.
I think sales could be determined by PM showing some INCOME in their accounts (apart from new share issues that is). I'm not hiding anywhere - if I'm wrong (and I hope I am) I'll take it on the chin!
However, when do you believe "income in their accounts" would show up - mid 2024?
The point is: should PM confirm production of oil in 2023 and the revenues show up in the 2024 balance sheet - this would seem to be nit picking. As I said: WIGGLING
YOURSELF OUT.
It is the timing of the cash flows that is important and not when the year end balance sheet date is. So as far as i am concerned the cash flow is the cash flow and will be as soon as we are able after the "formalities" are sorted.
Stop being an idiot Ojay - it's perfectly clear what I mean. I don't think PM will transport oil to China this year and get money for it this year. NO WIGGLING. The timing (and amount) of any receipts is crucial if another cash raise is to be avoided & I don't believe it will be (avoided). MB's claim of "fully funded" until summer 2024 just isn't credible. IMV
Formalities hmm, it was also formality for Licence too wasn't it? It was too formality for LP too? But look how long they took? And even the LP we still haven't really got it yet!