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first_imgThe Block XX Exploitation Licence application is progressing with the Mongolian authorities with meetings already held with industry regulator MRPAM and their audit of the Heron Reserves Petro Matad cost optimisation and exploitation license application update. (Credit: 272447 from Pixabay.) Petro Matad Limited, the AIM quoted Mongolian oil explorer, provides an update on cost saving measures and its application for an Exploitation Licence covering the Heron 1 oil discovery.In order to ensure that the Company’s current financial resources can sustain the organisation through the processing of its Block XX Exploitation Licence application and, at the same time, recognising the impact that the ongoing COVID-19 pandemic has had on global financial markets, Petro Matad’s Board of Directors has implemented certain cost saving measures.All Executive Directors, Non-Executive Directors and other senior managers have agreed to take salary cuts averaging 50%, backdated to the start of Q2 2020.The Company’s professional advisers have also agreed to reduce fees by up to 45%.With these measures implemented, the overhead costs of the Company have been halved whilst crucially maintaining our operating capability. Further cost cutting measures have been identified and can be executed if market conditions make this necessary.The measures already undertaken will enable Petro Matad to continue to operate with the cash resources it currently has on hand up to the end of Q1 2021, and if the identified further cost cutting measures are implemented, up to the end of H1 2021.During this period the Company will focus on: securing its Block XX Exploitation Licence for the development of the 2019 Heron 1 oil discovery; retaining and prolonging its Block V Exploration Licence; seeking partners to join it in existing and new ventures in Mongolia as well as securing additional funding as necessary to take the Company through to the next phase of its development as a leading Mongolian focused explorer and producer.As outlined in our last update issued on 23 March, the proactive approach taken by the Mongolian Government has been successful in containing the spread of COVID-19 in the country. Apart from the cessation of international travel, there remains no significant impact on Petro Matad’s operations in country and the Government ministries are open and functioning as normal.The Block XX Exploitation Licence application is progressing with the Mongolian authorities with meetings already held with industry regulator MRPAM and their audit of the Heron Reserves Report now successfully completed. The next step in the process involves the Reserves Report being reviewed by technical departments in the Ministry of Mining and Heavy Industry after which the Plan of Development will be required to be submitted. Work is already well advanced on the Plan of Development documentation and we continue to look for ways to expedite the approvals process in cooperation with the relevant authorities.Mike Buck, the CEO of Petro Matad said:“The combination of the global pandemic, its impact upon financial markets and the significant reduction in the oil price make these testing times for all those that operate in our industry. However, Petro Matad is determined to weather the storm, pursue the permits we need and prepare for the next phase of our activities.The changes we have made to our cost base are prudent steps to take at this time and the Company is highly appreciative of the flexibility and commitment demonstrated by staff, contractors and advisers. We are heartened that, despite the disruptions evident around the world, we are still able to progress the Block XX Exploitation Licence application with the Mongolian authorities.” Source: Company Press Releaselast_img read more

first_imgA training course for coaches of colts clubs in Ghana will take place on Monday, 22 April, 2013.The programme organsied by the Ghana Football Association is part of the governing body’s policy of grooming young players with modern trends in the game by offering their coaches the right training.GFA President Kwesi Nyantakyi will open the first coaching course for colts trainers at the Kaneshie Sports Complex in Accra at 8am.All the coaches with colts clubs in all the districts in the Greater Accra region will attend the one-day seminar that will give them the basics in coaching.Experienced coaches including Ben Koufie, Oti Akenteng, E.K Afranie, Anue Mensah and Augustine Arhinful will be leading the one-day seminar.According to the GFA, the coaching course for the colts clubs will be replicated in all the regions in Ghana with the Greater Accra event being the first one. Most coaches in colts clubs in Ghana have no formal training which has been identified as negatively affecting the proper development of young players in the country.This is the first time in the history of Ghana football that the GFA is instituting a coaching course for trainers in the juvenile leagues.last_img read more

first_imgHe hopped to Kitante Hill School for a year and then Ntanda College School. By Senior Four, he was again spotted while playing for Nsambya Old Timers by the Late Lukwago to join SC Villa. It was a dream come true the youngster.“I dint know that I would even ever get a chance to play but Coach Micho had seen great potential in me,” he says.It is here that Onyango started to get opportunities for the national team and under 20s. He, however, kept in school at Kampala Citizen’s College School and later joined Makerere University Business School until he dropped out to go play for St George in Ethiopia. Then he moved to South Africa for Super Sport Mpumalanga Black Ace and on to Mamelodi Sundowns. Onyango says he has matured in attitude as a player at Sundowns and achieved a lot. He is considering a coach career when he retires from active playing.He maintains that Ugandan football still lacks building foundations through soccer development academies that can help feed into the many soccer clubs.“It is good to mould and train our own material rather than just picking up mature players because clubs are demanding but also the passion of football must be worked on not only for the national team but for all clubs and teams,” he says. He is married to a longtime friend, Barbra Namubiru with whom they have four boys.Share on: WhatsApp Pages: 1 2 Kampala, Uganda | AGNES NANTABA | He is the only goal keeper and the first Ugandan to achieve the feat of African-based Footballer of the Year, to which he was voted in January 2016. The final tally saw Dennis Onyango pick up 252 votes, compared to 228 votes for second place Khama Billiat. He was also ranked as the tenth best goalkeeper in the world in list for 2016 compiled by the International Federation of Football History & Statistics. Even with such heights, 33 year old Mamelodi Sundowns and Uganda Cranes goalkeeper maintains a low and humble character.“I was raised in a very poor family so we earned most things through other people’s kindness,” he says, “Football is like any other occupation that requires discipline and respect of other people because you bank on their support.”At a young age, Onyango picked on goalkeeping after admiring then great goalkeeper Sadiq Wasswa who is now a coach. At the time, Onyango started playing for Sharing Youth Centre.He says although footballers are still famous today and support for the game is big, it is nothing like it was in the past.“Back then people would even leave work early to go and support their teams,” he says, “I also wanted to be famous.”When big teams like Express FC, KCCA, Villa and others were playing at Nakivubo Stadium in Kampala, Onyango would be among the thousands of spectators. Eventually his persistence paid off for then young goal keeper as football earned him bursaries and scholarships. In primary seven, Onyango left Railways Primary School and joined Greenland Islamic Primary School soon after being spotted as a talented sports boy. Sports soon affected his academic performance but he did not give up. His father, who saw education as the only path to success was always negative about the football, but Onyango had an uncle and mother who supported him.last_img read more

first_imgDONEGAL Ladies Senior team are hoping fans in Leitrim will help them to success when they take on Westmeath today.Thousands of fans of Jim McGuinness’s side will descend on Carrick-on-Shannon today for the clash with Laois.But with the ladies throw-in at 3.30pm, the ladies team are hoping enough fans arrive early to cheer them on in their TG4 Round 1 qualifier. Donegal lost by eight points to Monaghan in the Ulster semi-final but that was a vast improvement on last year, when they were on the wrong end of a 1-8 to 5-25 scoreline.Donegal Ladies Manager Hughie Molloy is hoping the crowd will help as they take on a Westmeath side beaten by neighbours Meath in the Leinster championship.   DONEGAL LADIES HOPE FANS SUPPORT CAN HELP THEM TO WIN was last modified: July 27th, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:DONEGAL LADIES HOPE FANS SUPPORT CAN HELP THEM TO WINlast_img read more