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Knowing how Mike Buck operates, I would say they are dragging the SL result out so that WH is no longer possible this year.Remember he said he was drilling 4 wells this year begining in May, but he delayed it till June and then July to facilitate another large placing.He then cancelled 2 of the drills,so we have every reason to expect him to cancel WH until next July, although he will say May & June first, like he did this year.
If Buck cancels WH this year & SL's a duster, the sp will tank big time.
The strange thing is that volume hasn't been there to indicate anyone knows (either way). Even today volume was pitiful. Thats why I've held as surely they have to say something tomorrow. Even if it's were still drilling.
Thanks Bobtree. Every investor has a plan and it seems pointless to discuss whether that is good or bad because it's a decision every investor makes individually - something like a question of taste. Value erosion is part of the game - it happens all the time and shouldn't make an experienced investor nervous.
From my modest POV: What matters is company's potential and its management's ability to exploit that potential. If you believe one or even both of those criteria are unfulfilled then there's no point in investing.
So where does the communication part fit in? If PM's short term sp development were important or even critical to my investment plan I would be disappointed - because they're not telling me what the daily/weekly etc. status is. Fortunately, that type of information is not critical to my investment plan. That's why I'm sitting tight - even if SL is not the success we all hoped for.
Not that Matad are fastidious in releasing material information in a timely manner, but the idea they are holding back discovery news for AGM seems absurd.
M.Buck and the boys have been playing catch up from day 1 and have literally missed every single milestone they've set for themselves and shareholders. An undisputable fact.
Ojay, the 'hit' as I put it is watching your investment being eroded in value. Many small PI's get frightened into selling before any good news breaks. If it's bad news they can chose to sell as the price drops with the rest of the crowds or stick around spiked. It's the uncertainty that breaks their will and stops them from holding on for the upturn. Risk and risk perception. So with Intuitional investors here at 10p how come the sp been driven down when we have six fully funded wells, the first at Target Depth? and the second awaiting the drill.
That poster the other day was spot on with a delay in drilling. Or just maybe... Just maybe they are waiting for the AGM to announce a mega find. We'll know inside 24hrs. I'm holding albeit with punt money.
Dont waste your breath Bobtree, Ojay doesn't understand anything that may suggest MATD arent the greatest company of all time and will be worth Billions of dollars one day, just goes straight over his head
Bobtree: Don't understand your complaint. Pls elaborate on the "small PIs taking the hit". In particular, tell us how you (as a small PI) would have avoided the "hit" you claim if you were informed like everybody else? That seems to be another one of those short termer issues. Many thx in advance for your response.
A 70 day drilling campaign yet THREE DAYS after the programmed end NO NEWS! This is totally UNACCEPTABLE. If the news is bad, fair enough, get the rig moving on to Wild Horse before the winter. If there's something to investigate say you've mobilised the test rig AND SENT the drilling rig on to it's next fixture. The longer they hold on to the news the more power and control they give to the shorters and manipulators. Just us small PI's taking the hit.
Cheers Bob. I'm not invested here yet, as have no spare funds with which to do so right now, but I'm finding it interesting. There may be chance for me to get in when our Swedish thing finally comes to life as well, so I'm taking it seriously. Lol.
I particularly like the six fully funded drill part, though it seems communication from the CEO could be better.
Focusing on the positives here, they do appear to greatly outweigh the simple shareholder desire for more frequent updates.
Cheers matey and best of luck with this.
Bishand: Some of your posts are fair and square and for sure you have the right to ask them, or to question the wisdom of PM's bod, but I think you are premature. Wait till the results of the first well are out. But if on tomorrows meeting the bod announce a strile/duster, that the rig is already being transportet to the next location. If something like this has happend prior to todays date then you are entiteld to condeming everyone.
I think this next week will make a lot of the usual suspects on this board look very silly indeed. All the guys who constantly mock and ridicule the small minority of posters who sensibly question the practices and execution of this company, I wonder what spin they will put on their respective posts IF SL is a duster and due to some 'unforeseen' issue we have a delay on drilling WH (this is my prediction incidentally of how this will pan out).
Will they still be so bullish and so quick to ridicule the doubters or maybe they will be graceful and admit that their decision to mock and cast judgement was a bit hasty ..... I very much doubt it but I live in hope!
Hopefully its all positive and we can all make some more cash but I for one seriously doubt it, luckily I am riding on free shares from last years 'good times' so I dont really mind in all honesty, good news would be a welcome bonus but I am not counting on it, i have already written off what I have left but lets wait and see!
The only ones continuously criticizing PM's communication are the short termers. All they know is playing the ups and downs prior to results - irrespective if those comms make sense or not.
Looks like PM - under Mike Buck's management - is nothing for you guys.
Guess you'd rather have that old management under Dougie back right? He did a bang-up communication job making investors believe PM was a huge success (before striking oil - which never happened) and made sure those investors lost most of their money. But that appears to be a "quantité negligable" for the short termer investors.
Agree, it seems that a few posters, don't care if the have shares here or not, have already begun to dig a grave for PM while we are still waiting for the result of the first well of this campain, which can last well into 2019.
I myself have not given up hope for positive results from well #1