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Progressive have released their latest research note on PM. Main part on page 1 - previous valuation they put on PM was 29p - now it is 58.7p !!!
I’m off out to choose my new car
Lmao
Lambo ?
I’m too old for that now tho do my back in getting in and out haha
GLAGLTH
hope for many positives this month feel like Phil Collins there something in the air ? Do you feel it…
Lol Furion, no, not a lambo, bit too flashy for me , probably a Cherokee jeep, the most comfortable car I ever had, and a little Vespa to nip around in . Happy holdings
Thanks, Dozzawba. Good to see.
I would just point out that the 58p is RENAV taking into account Velociraptor and potential success there. I am more inclined to look at the RENAV without Velociraptor, which is still a very nice 26.7p.
I also think they skirted over the LP issue a bit too quickly. It's THE issue and what is stopping this being 1-3p versus that potential 26p!
Wow that should underpin the current SP
Next news could have us in double figures
Where it's declared "Petro Matad is a research client of Progressive", is that effectively saying MATD pay Progressive and/or is it truly impartial?
Ye only joking before the when lambo crew arrives , I had my eye for a while on a taycan but after having a loaner for a month not so keen tbh need an EV moving forward kinda like the i4 so far
Any way long way to go before we get the colours picked out
Brokers SP is good but it’s what the the bloomin MMs think ultimately
GLA
MB alluded to this in his latest interview in that although they are a client they insisted on putting their own reading, interpretation and values into this or certainly the last one. So from that point of probably impartial.
Last page "disclaimers and disclosures" sets out their relationship ....Progressive are a professional research house and this is all they do ...they are paid by their clients including MATD. They are FCA regulated and use only public information. In essence they analyse what is out there and available to all of us, but then put it together in the form of research. As a service this is probably more independent /better than a market maker or broker who would be looking to profit from their research (these guys cannot). Of course, if MATD/other clients of Progressive didn't like what they were reading then they could/would sack Progressive.
As an investor it is a useful service IMO. I think they summarise the opportunity well but more thought needs to go on oil price, USD/GBP, DCF at 10% versus a properly risk adjusted WACC and, importantly, the probability analysis of the various potential components to their RENAV.
It is however a very good base to learn from.
HiMan: Thx for your post. If only I had a clue what your abbreviations stand for (sorry, I am clearly not an O&G industry expert).
Pls excuse.
No excuse needed. The abbreviations are all non oil and gas specific - they are general financial abbreviations used for discounted cash flow valuations favoured by professional investors as a representation of future value of the firm. If it were rocket science I wouldn't get it but, before I retired, I was CEO of an Asset Manager and a Hedge Fund running billions of AUM so it is my language . The report is comprehensive and well worth a read. My own view is that MATD has less than 2p of downside and at least 17p of upside in the next 12months. As ever DYOR everyone...bon chance !
HiMan- given your experience, I would value a furher comment on what you see being the improvements to:-
( as you say - "..I think they summarise the opportunity well but more thought needs to go on oil price, USD/GBP, DCF at 10% versus a properly risk adjusted WACC and, importantly, the probability analysis of the various potential components to their RENAV. It is however a very good base to learn from....")
Limited downside v 5 bagger..... Hmmmm im in.
Come on Buck lets get some bang!
Minimum 600% up from here. What isn't to like?
Feel like will be very lucky to see 100% that’s not bad!
This is MINIMUM 600%. With RENAV 58.7p that nearly 2000%!!!
Will be HAPPPPY :)
2000% Upside is why I do so much research & buy MATD
Also oil already & full funding :)
RNS next week possible mr Ibiza or even tomorrow but VERY SOON anyway.
Report say "Major Drilling (Canadian company) is expected to soon confirm spud date"
Mr Buck mention this when ask what news to expect and mention Q1 so RNS any time now.
One who has share does not need to worry about if they miss breakout but breakout coming :)
Slowly but surely rising before it takes off.
Back in the blue, hope it continues:+)) GLA
The yak is looking good today!
Lots of confidence shown here today with many large trades, i've never purchased a stock that has gone up by 8% on the first day i bought in, makes a pleasant change lol.
Read and you will buy more,
https://tinyurl.com/yckzt5pb