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Zellman - good question
Market Makers can manipulate
the share price to match their
book. Of course they have a good
idea where the SP is heading, and
make a determination as to whether
they want to go long or short.
Currently they are taking in stock
in order to sell @ higher prices
My second purchase of the day
Also @ 3.35
Think you are wrong MrDexter
but that is just my humble
Just bought more @ 3.35
Did not expect this to go sooo low
3.253 - 3.35
To sleep till next year
Then licences/ driiling/funding, sorted
I wish I shared your optimism, I have averaged down but see this getting back into the mid 2p range before we start getting the news that will.drive us on. Holding for long term now (3 yrs).
3.24 - 3.40
In my opinion bottom-feeders
will see this bargain soon
Watching price on L.S.E. and its fluctuating by 7% 3.24 lows however you cannot get near the buy lows best buy price is 3.45p spread of 8% .So my question is do the MM get to buy at 3.24?
3.275 - 3.49
The issue is the lack of 'facts' from the presentation that you say I misrepresented?
I take it you couldn't find any?
'You know exactly what the issue is. Stop wasting people's time!'
A classic diversionary post of it's kind rather than addressing the points raised?
I didn't ask you to take issue with my original fact based post but having done so you should really be prepared to back up your post with specifics or conceed the point? If you think a post is wrong the onus is surely on you to prove it?
C/S: This is not a courtroom - you know exactly what the issue is. Stop wasting people's time!
I'm not sure that I did JAdam which is why I suggested posters should feel free to post any of those 'whole range of options' that Mr Buck laid out.
Again you have posted a post of generalisations and not any specific point from the presentation that can be discussed based on specifics.
How many posts have there been since the presnetation? Hundreds if not thousands? And how many have been about the one certain source of facts about Petro Matad's intentions from the CEO's own mouth?
The board chooses to live in a dream land created from their own hopes and imaginations rather than sticking to the hard, slightly unpalatable (?) facts the presentaion actually contained.
Please feel free to point out if I've unfairly represented Mr Buck's presentation, but only with direct quotes please not rather nebulous mention of a 'whole range of options' which really achieves very little.
Anyway before Onerule feels the need to chip in I'll go back to being a sideline watcher until the next year after the fund raise. Unless of course anyone wants to debate specific points in the presentation when I will of course happily engage.
It is a discussion board after all.
CaptainStanley, its all about the slant you place on your posts, it's not just about what you did say, but more about what you didn't.
Mike gave so many options, yet you made a conscious choice to report the ones you find most negative, Mike gave a whole range of options for raising cash other than dilution, so from the multitude, you chose to report the one particular option that Mike said he was most against, but which is usually seen by shareholders as the most negative.
Yes I understand Ojays reasoning very well. Some of us that have been here many many years, knows how AIM works, share dealing in the oil game, you're better to be a psychologist that a geologist, seems you are practicing that art. We know the stance you now take.
So lots of accusations about my 'assumptions' and bits of the interview 'I'd conveniently forgotten' to suit my own agenda but very few actual examples when asked to supply examples? Well let's be honest.... none.
Can I take it that that means you accept that my original post is, broadly speaking, a fair and accurate representation of what was said by Mr Buck?
Of course it's not my job to 'interpret' what Mr Buck said. I originally posted it because so many on this board appear happy to completely ignore the known facts as laid out by the CEO preferring to post their opinions about the imminent Petro China farm in or the likelihood of the exploitation licence being fast tracked for the end January.
Facts are facts. If in doubt go back and listen to the presentation again. Relying on anything else is just foolhardy. In my opinion.
You urgently need to see a psychiatrist if your own barking seems alien to you.
Care to remind me of those bits Dozzawba?
So easy just to name call though isn't it?
Ojay you couldn't be more wrong I'm more positive about Petro Matad than I've ever been.
I'm not sure there was any assumption in that post though Ojay. It's all more or less directly quoted from Mr Buck's presentation. Can you contradict anything that I said based on the CEOs recent presentation? If not then I can't see what you are objecting to, unless of course it's your assumptions that don't align well with the reality of the situation as laid out by Petro Matad's CEO?
I suspect that following the fundraise and dilution there will be a good rise in store for Petro Matad at some point next year and I fully intend to be invested to enjoy it. If 2020 does however leave Mr Buck disappointed if it turns out to be a 'wasted year' (his words not mine) then I wont have lost anything will I. Comfortable on the side lines looking in for now.
I do think it's going to be a long winter on the board though with very little to say to each other until the spring. Except perhaps how surprised and disappointed you all are at the size and price of the placement when it comes.
Interesting to see that Manro has started barking.
Well said Ojay - conveniently forgot various parts of the presentations that don't suit his now known agenda. Showed his true colours !!!
Sorry: Should have typed "unveiled yourself" (last sentence).
Well said Ojay. Coildnt have put it better myself.
My dear Cap't Stanley: Always nice to hear from you. Your assessment of the current situation is well taken - its an assumption (as always) but who knows - it could actually turn out the way you say. However, since you obviously prefer to make those quotes and summies which obviously serve your purpose better than the other information which would undermine your objectives I no longer believe you are one of those posters who constantly demanded the need for "balanced opinions". You know very well that your "summary" contradicts MB's presentation in several areas:
- MB has asked for an exploitation license before the end of 2019 (a request which was not laughed off)
- MB has made clear that he would prefer a funding solution which would avoid dilution.
I for one am very disappointed that you have changed your stance to total negative. Must have something to do with your current agenda. What a shame. I always had great respect for your opinions. To me it seems you have revealed yourself as a wheather vane. Don't expect that to change going forward. You had your chance.
Simon. The best guidance is in Mr Buck's last media/investment presentation.
I summarised it at the time and it's below:
Exploitation licence: 'I would be satisfied by the end of the first quarter'
So Heron 1 income from April/May? Any need for roads/infrastructure, storage, security, fencing? Costs?
Petro China: 'We will be looking to do a commercial negotiations with them over the next few months to see what sort of terms they will offer to put our oil through their infrastructure' and 'There's a good possibility Petro China may want to join in here' RE Farming In. So nothing to hear here for 'the next few months'. Sorry Mr P no imminent Farm In I'm afraid.
Heron 1 flow rates: '821 barrels per day but it's only an initial production rate for 2 1/2 days. The sustainability still needs to be determined'
Re Heron: '... a discovery that might be commercial'. And 'The Heron discovery looks like it's going to be commercial'.
Equity raise for Heron and Heron 2, 3 and 4: 'We'll need a little equity, $10-$15m that we currently don't have to kick start it'
So today's Market Cap £25m and planning to raise up to $15m. That sounds like a lot of potential dilution to me I'm afraid.
Of last years equity raise all but $3m is left. This is enough to cover annual overheads and expenses only.
So much Guff on the boards recently about how much they'd have left over to pay for next year's drilling then?
He anticipates 4 heron wells all producing at about 350 barrels per day by the end of 2020 and each generating about $3 1/2m per annum in revenues. $10m plus in oil revenues if it all goes well? Presumably tax/costs/shipping/wages etc to be deducted from this?
And finally 'I wouldn't want 2020 to be a wasted year'.
So 4 wells producing 1000 odd barrels/day hopefully. They'll need $10-15m to get there and he hopes that Heron will be commercial. Permit by April? And he wouldn't want 2020 to be a wasted year.
2020, anything might happen but it should be good but it'll probably cost to get there in terms of dilution (my view).