Member Info for badprophet

MATD was at these levels (and lower) when there was no perceived "LP problem" and Heron production was scheduled to start in Q2 2022. Why should getting it cause a big re-rate now?

//The share price is still at the placing level.//

When the SP was halved "at a stroke" and existing holders were hugely disappointed. Little has *actually* changed since then except several millions being spent on running expenses and some equipment. At least the "blue chip" investors will be feeling somewhat relieved.

// just starting to attract wider interest and given its exceptional upside v risk profile.//

Fair Analyst lives & breathes! (in spirit anyway)

// I expect LP to be granted before the end of the Autumn Parliamentary Session and then it's onwards and upwards for PM.//

Nobody knew the LP was even an issue 6 or so months ago - why wasn't the SP soaring then?

Ostraliamutt - you state it like it's set in stone - it aint.

I'm still invested emotionally

//Lol al the derampers have come out today, //

And being fiercely countered by the rampers! I think Positive Vibes must be Fair Analyst's alter ego!

// surely they are 99.9% confident?//

PMSL! They gotto do that in a webinar. LSE's aim is to attract more suckers to invest. They aren't gonna come out and say "It's a crap shoot - take a chance but you might lose everything".

and stop deleting my perfectly reasonable posts!

The most disappointing thing about the webinar was the failure to ask many of the pertinent questions which could have extracted more detail from MB if answered truthfully - but that's not what LSE's about is it!

I wouldn't blame MB personally as PM have struggled (and continue to do so) with extraneous factors and in a difficult place to do business, but there is no solid reason to believe that 2023 will deliver the pot of gold that all investors would hope for and which some seem to think is inevitable.

//MATD should NOT spend a penny on locals/ exploration till LP granted, period.
They are spending money for local volleyball! Renewable! Cleaning the land!
That I s a serious joke.//

Damn right! PM should only be putting money back in from profits it makes by selling oil (not from investors' pockets). Until then - zilch!

// try and deramp the stock?//

Stating the bleedin' obvious is not deramping! DQE have other fish to fry besides PM.

//I see the derampers are out in force today......//

Thanks for the observation - very perceptive (but not very useful)!

//We also have DQE in the frame//

Nothing is signed with DQE

Is the cash position "comfortable"? They have spent 4 million of the cash raise plus whatever they had in the bank then. If they can burn through that in a year of doing "not very much" how much more will they need for new drillings/pay-offs to the locals/involvement in renewables?

My reading of it was that MB has gone back into exploration mode (his forte) with a 20% chance of success & production/marketing from Heron is on the back burner until the refinery opens in 2025 (or later). More cash needed.

I'm OUT - sold on Friday at 1.75. 65% down but better than the total loss this will become. Couldn't take any more BS.

All PM has is the EP*. If they don't get the LP or the GoM decide to backtrack on the EP there is nothing to stop someone else moving in.

* and possibly some equipment lying rusting in a field

//Lets not forget the oil refinery will need oil stock.//

True, but the refinery won't be up & running before 2025 (IMV) and the question of whether PM will still be around to supply that oil stock is moot.