Member Info for bonum

With a Placing, it'll be interesting seeing to what extent it'll be ie just to cover more immediate costs or an opporrunity to procur more extensive funding to address new acquisition or other strategic initiatives - that seems to be a common approach amongst smaller exploration companies, looking to broaden activities beyond the possible success / failure of nearer term endevours.

Also obviously, what price the Placing will be at and subsequent likely price move to around that level.

Let's await the RNS for further clarification on those points.

Great RNS released very soon hopefully - we have all 6 drills FULLY FUNDED now and as we know, an essentially 'appraisal' prospect in the mix too - targeting World class resources, so a very exciting time indeed to be holding Petromatad stock.

Let's see if we don't get one released intraday as they often do.

Atb all

Will have a look in then, but too long to have money sitting here atm for me.

Atb all

Snow Leapord drill nearing completion, World class Wild Horse drill site being prepped & drill operations to commence straight after, Block XX permitting complete and better seismic interpretation to more accurately target drill for Q2 2019 - all Fully Funded and requisite paperwork in place.

Company fully funded until end of 2019.

Good to go so very much a Buy/ Hold at this juncture, imo, especially considering this could 'potentially' be the biggest bagging stock on Aim in the coming weeks.

dyor etc.

They haven't finished the drilling yet - what do you expect them to say about Snow Leapord!! Lol

Yes Sunday and the other factors that underpin the investment, enhance its attractiveness tremendously.

We have the multiple other drills, beyond the current one, fully funded AND with the effectively 'Appraisal' prospect as part of that.

That along with the very substantial, 'World class' size of potential resources targeted.

Good to be holding.

That's what I'm saying - we've likely had a more conservative estimate for drill timelines, with a very real possibiliyy of TD having been reached / initial oil traces noted. However, as previously, will await an official News confirmation.

With an oil find and reassurance that subsequent drills are fully paid for, this presents an amazing opportunity for major profits, beyond results from the initial drill.

Sharp and positive price move today and very much looking forward to whats to come - great to be holding for next week.

Atb all

I think we'll see a breakout signal being generated, hence a significant increase in Buying activity/ Price Rise in the coming few days.

That's incidental for those of us holding, looking for the multibag payday over the 6 funded drills and considering the huge size of the potential resources being targeted.

LEAK?

Could be as the we're approaching TD and possibly things ahead of scedule with some promising initial shows. However, looking for the official RNS release to confirm.

6 overall drills though, so very pleased to be holding atm.

Gusher!

6 fully funded drills to hit the big one - including the 'appraisal' drill!!

Have to be holding stock here - imho!

Atb all

I disagree with your view that the majors still in somehow but waiting for a consortium - I think the wording suggests that they're out of the equation and the company can solicit new potential partners.

I think a more likely scenario and again speculative, is that 'unofficial' communication with other parties, even on a limited level, has continued - Potter has a lot aligned with a succesful initiation of drilling activity so 'possibly' that scenario playing out - but what we do know unequivocally, is that finance talks are ongoing with institutions.

All food for thought - have a goodnight all.

I think you may be right that it was a Buy given the intraday price action, albeit we can't be absolutely sure - it seems to point to that anyways.

If indeed that is the case, the question is Why? given that everything would reasonably point to a somewhat extended timeframe to yield any material progress re: an alternative farm in partner and a very tangable initiative for the alternative funding.

- and then we had the £20k buy just before close.

Possibilities:

- The trades were worked sells over the day, albeit not sure if the trade price reconciles that....I don't know...those more closely watching the intra day action may have a better idea.

- the buys may have been made by someone not very cognizant with Market workings

- the buys may be indicative if behind the scenes initiatives, expected to positively impact the price ex another party ready to move into an exclusivity agreement.

All food for thought, some scenarios much more speculative than others.

Those individual trades, if they were Buys, have muddied the waters somewhat......???

Jimtheknow, the oil major is out of the equation. That's pretty ibvious when the RNS states "The company with which we have been in exclusive negotiations has elected not to extend further the period of exclusivity, which means we will receive no further exclusivity payments - At the same time, having demonstrated interest from an international oil major, we are now able to freely re-engage in discussions with all other parties, which had previously been put in abeyance."

These things take time and have no guarantee of success, especially given that the oil major involved with the exclusivity, elected not to proceed. In the meantime, other financing options ie a Placing, are being actively pursued with current and ongoing negotiations.

That suggests a marked price slippage in the meantime.

However, a £59K Buy yesterday & a £20K Buy today somewhat muddies things, as it suggests a strong confidence from some party / parties.

Mmmmmm.....? 

Not sure why you guys waste your time on senseless bickering, when all it does is divert from more reasoned discussion of the actual investment.

I posted this earlier at 14:58 but no opinions forthcoming, even though the trades 'may' significantly (or not as the case may be) point to stock accumulation by certain parties.....is that indicative of events behind the scenes?

"One thing that I'm not sure about, is why there was a circa £59k trade showing up yesterday. 

It wasn't shown as delayed from a previous day but posted after hours, not a UT and I don't think the bid hit 2p yesterday (the price the trade was executed).

From a reasoned perspective, I believe we'll see that Placing etc for the reasons already discussed and indicated in the RNS. 

However, to circumvent a complete breakdown of constructive One debate here and out of genuine interest for other peoples views (pro or against), it'd be interesting to hear what others have to say on the matter."

Again, although I believe we're looking at a major impending Cash call, I also note another £20K buy just before market close.

Of course, various people have different relationships to risk and what they'd consider a substantial amount of money. However, those individual trades, amidst much more prevalent smaller scale selling, are food for thought - it goes against a more reasoned perspective unless 'possibly' there's something else happening - that really is pure speculation of course.

Again, reasoned thoughts / views most welcome.

One thing that I'm not sure about, is why there was a circa £59k trade showing up yesterday.

It wasn't shown as delayed from a previous day but posted after hours, not a UT and I don't think the bid hit 2p yesterday (the price the trade was executed).

From a reasoned perspective, I believe we'll see that Placing etc for the reasons already discussed and indicated in the RNS.

However, to circumvent a complete breakdown of constructive debate here and out of genuine interest for other peoples views (pro or against), it'd be interesting to hear what others have to say on the matter.

I hope the share price FLIES.....but let's still apply some rationale rather than just hope.

I think it's highly likely, based on the ongoing 'alternative' finance discussions as per the RNS, that we'll get a Placing deal negotiated.

We know it'll be large, given that there's np indication of other potential farm in parties currently at the table......only that the search for one has been started up again and bearing in mind, ' 'interested parties' have been spoken about for years!

HOWEVER

Even though a finance package will likely be highly dilutive and at a discount to the prevailing share price, it should at least take away the uncertainty of the company just languishing as before.... we should at least get some confirmation of actual drilling operations / timelines

Assuming all goes smoothly........at this stage, something will be better than nothing.

I still hold some stock here, albeit accept my holding will likely be heavily diluted and also the associated impact on upside price movement......short of a succesful oil find of course.

This isn't a dead horse by any means.......just an exceedingly badly flogged one!

Gla albeit the financing institutions will be the biggest winners here no doubt.

Thank you Mr Potter!

Atb

"developing well financing options through to completion' doesn't mean funds to cover drilling - only to cover normal operating expenses whilst the 'ongoing' financial' measures ie Placing is being concluded.

They would have a very good idea how long such new finance negotiations will take, hence confident in asserting that current funds will suffice. That in contrast to initiating a search for potential farm in partners, which can't obviously be ascertained with any certainty regarding timeframe or success in actually securing such a partner.

Conclusion: as per the RNS, they're currently in negotiations for an alternative Financing arrangement, hence we can expect such an announcement in due course.

N/m

???

Probably a reason for profit taking, due to the 'somewhat' extended nature of those timelines. However, a good one to keep a bit tucked away in over time.